hailiang finance | gold hits new highs, but moutai keeps falling: now a bottle of moutai can only buy 3 grams of gold
2024-09-22
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poster news reporter qin wen reports
today, although both are "hard currencies", the price of gold has hit new highs, while moutai, known as "liquid gold", has been "falling continuously".
on september 20, spot gold once again broke through the previous high, setting a new record high of $2,608.4 per ounce. domestic gold retail prices also quickly followed suit. on the same day, the overall gold jewelry brand gold price once again rushed towards the 760 yuan mark; however, the situation of moutai is not optimistic. on september 20, the stock price was reported at 1,263.92 yuan per share, and the decline has exceeded 25% since the beginning of this year. in the terminal market, there was another round of price decline after the mid-autumn festival. now, the wholesale price of the original box of feitian moutai has fallen to 2,470 yuan per bottle.
since the beginning of this year, the price trends of gold and moutai have been in opposite directions. taking the wholesale price of moutai in a box as an example, at the beginning of the year, a bottle of moutai could buy nearly 5 grams of gold; now, a bottle of moutai can only buy 3 grams of gold.
gold prices soared
since the beginning of this year, the price of gold has repeatedly hit new highs.
on september 20, spot gold broke through its previous high, setting a new historical high at $2,608.4 per ounce.
wind data shows that gold started to rise in march this year, quickly breaking through the $2,200, $2,300, and $2,400 mark. then from mid-april to july, the gold price fluctuated around $2,300-2,400. at the end of july, gold rose again, breaking through $2,500.
huatai securities said that the economic environment at the start of this round of the fed's interest rate cut cycle is relatively special. under the economic structure of "high deficit" + "high inflation", if the economy stabilizes after the interest rate cut, the us economy is likely to face the risk of secondary inflation. therefore, on the whole, gold prices may still have room for upward movement in the long run.
the retail price of domestic gold jewelry has also been growing at a "rocket-like" rate, repeatedly breaking new records.
on september 20, data from jintou.com showed that domestic gold jewelry prices rose again, with the overall gold price once again sprinting towards the 760 yuan mark.
at the beginning of january, the retail price of gold jewelry brands was around 620 yuan/gram; on september 20, after breaking through the new high of 761 yuan/gram a few days ago, the overall gold price of gold jewelry brands, which had just fallen slightly, rushed towards the 760 yuan mark again, with the highest increase of 7 yuan on the day. currently, the gold shop with the highest gold price is chow sang sang, which offers 760 yuan/gram.
it can be seen that in 9 months, the retail price of domestic gold jewelry has soared by nearly 150 yuan per gram and is still on an upward trend.
moutai prices continue to fall
since the beginning of this year, kweichow moutai has continued to be weak in the capital market and its stock price has fluctuated. at the beginning of the year, kweichow moutai's stock price was above 1,600 yuan, reaching a high of 1,777.8 yuan in the middle of the year, but now it is less than 1,300 yuan.
on september 20, kweichow moutai rose 0.23% to 1,263.92 yuan per share. the decline so far this year has exceeded 25%, hitting a new low since october 2022.
in addition, in the terminal market, the wholesale price of feitian moutai showed a continuous fluctuation and overall downward trend during the mid-autumn festival peak season. on september 20, the latest reference price disclosed by today's wine price showed that the wholesale price of loose bottles had quietly slipped to 2,365 yuan/bottle, while the wholesale price of original boxes had fallen below 2,500 yuan/bottle, down 20 yuan from the previous day to 2,470 yuan/bottle. it is worth mentioning that during the mid-autumn festival last year, the wholesale price of loose bottles was around 2,700 yuan/bottle, and the wholesale price of original boxes was close to 3,000 yuan/bottle.
on september 20, the latest reference price disclosed by today's wine price showed that the price of loose bottles has quietly slipped to 2,365 yuan per bottle, while the price of a whole box has fallen to 2,470 yuan per bottle.
at the beginning of january this year, the wholesale price of an original box of feitian moutai was still 2,960 yuan per bottle, and the wholesale price of loose bottles was 2,690 yuan per bottle, with only slight fluctuations for many consecutive days.
although both are “hard currencies”, their current situations are quite different. take the wholesale price of a box of moutai as an example. at the beginning of the year, a bottle of moutai could buy nearly 5 grams of gold; now, a bottle of moutai can only buy 3 grams of gold.
according to the "2024 china liquor market mid-term research report" released by the china alcoholic drinks association, the top three price ranges with the best performance in terms of liquor market dynamics (the smoothness from liquor companies to terminal consumption) in the first half of the year were 300-500 yuan, 100-300 yuan, and 100 yuan and below. the 100-300 yuan price range has become an important growth point for the liquor industry, while the 600-900 yuan sub-high-end market, which has been the most fiercely contested in recent years, has performed weakly.
this means that in the first half of this year, high-end liquor has cooled down, just like the previous "sauce liquor fever".
first time in 23 years since listing
kweichow moutai plans to repurchase shares and cancel them for 3 billion to 6 billion
on the evening of september 20, kweichow moutai issued an announcement that the company will use its own funds to repurchase shares for cancellation and reduction of the company's registered capital. the repurchased share amount will not be less than rmb 3 billion (inclusive) and not more than rmb 6 billion (inclusive). the upper limit of the repurchase price is rmb 1,795.78 per share (inclusive). the number of repurchased shares will be between 1,670,583 and 3,341,164 shares, and the number of repurchased shares will account for 0.1330% to 0.2660% of the company's total share capital.
on the evening of september 20, kweichow moutai issued an announcement stating that it would spend 3 billion to 6 billion yuan to repurchase shares for cancellation.
the announcement also revealed that the controlling shareholder, actual controller, directors, supervisors and senior management have no plans to reduce their holdings in the company's shares in the next three months or the next six months.
at the same time, kweichow moutai stated that the purpose of this share repurchase is to safeguard the interests of the company and investors and enhance investment confidence. after the implementation of this repurchase plan, it will not have a significant impact on the company's daily operations, finance, research and development, profitability, debt repayment ability, future development and maintenance of listing status.
it is worth noting that this is the first time that kweichow moutai has implemented a cancellation-style repurchase in its 23 years of listing, and it is also the second time that kweichow moutai has announced major good news one month after announcing its three-year cash dividend plan.
