The lesson and decline lesson is not without the story. The value of money is worth it.

Recently, the price of Moutai wine in China has continued to decline. The wholesale reference price of 53 degrees flying Moutai loose bottle has plummeted by nearly 200 yuan (about S $ 37, the same below).In the capital market, Moutai's stock price is also a wave of twists and turns, and there is no sight of the past.In the hurry, Moutai quietly launched a price defense war.But a good day of skyrocketing may have reached the end.

All signs show that the aura of Moutai's financial attributes is fading, and the proper commodity attributes return.

The wine was originally used for drinking, not fried.However, in the past 10 years, under the cover of the "national wine" gold signboard, the "hungry therapy" that is issued by the factory has accumulated a lot of "hunger therapy", and it is a lot of hype in the capital market.The last low -guarantee households' living subsidies for several months; the market value also exceeded trillions of dollars. It has won the reputation of one brother of the A -share market, throwing many high -tech listed companies far behind, creating Moutai myths.

Therefore, like gold, like gold, began to have the financial attributes of preservation and appreciation.In the past 10 years, many investors and collectors in China have regarded houses, gold, and Moutai as the "three -piece set" of value -added and value -added.

Moutai is as hot as cooking oil. The value of the luxury consumption world is higher and higher in the world of luxury goods. The price of the human world is soaring, and even a bottle of Moutai in the market for a while.This is not so much sought after by Moutai's wine, it is better to say that it has sprayed after the accumulation of brand strength over the years.

It is worth noting that brewing companies like Moutai are plain, relying on natural resource advantages.Moutai does not have high investment in R & D, relying on the "ancestral secret recipe". There are no high -tech talents and high costs, and most employee education is very low.Companies with concentrated labor can defeat many high -tech enterprises, to some extent, relying on the overwhelming advertisements.

Moutai makes high -tech companies be ashamed.If the Chinese economy has the hope of prosperity, it is pinned on liquor brewing enterprises such as Moutai, and at best it is just a drunk face.

Fortunately, the market that is invisible to allocate resources in the market is fair.Commodity prices are usually determined by its value and affected by various factors such as supply and demand.As a commodity, Maotai also follows this basic economic law.

The value of

Moutai liquor lies in its unique brewing technology, high -quality raw materials, and the quality and cultural connotation given by the long brand history.However, in the past, the price of Moutai has risen too fast, even beyond the reasonable category of its own value.This is largely due to the irrational factors of the market, such as advertising bombing, speculative speculation, blindly following the trend.

When the price is severely deviated from value, the market self -adjustment mechanism will play a role, prompting the price to return to value.Moutai's drop in price is the manifestation of this mechanism.For example, in the boom of hype, some dealers and investors have hoarded a large number of Moutai wines to artificially create the illusion of supply in short supply and push up prices.However, this false demand cannot last long. When the market gradually returns to reason, the accumulated Moutai wine begins to flow into the market, the supply increases, and the price will naturally fall.

From a more macro perspective, Moutai's price drop is also a reflection of changes in the economic environment and consumer market.With the slowdown of economic growth and the change of consumer concepts, consumers' demand for high -end consumer goods is more rational and cautious.They pay more attention to the cost -effectiveness of the product, and no longer just pursue brand and price.In this case, the high price of Moutai can no longer be supported by the market, and the price decline has become inevitable.

In short, the price of Moutai's drop is the inevitable result of the product attribute and the manifestation of the return of the market.Although this process may bring some short -term pain to relevant companies and investors, in the long run, it is beneficial to the healthy development of the Moutai brand, the sustainable development of the liquor industry, and the interests of consumers.Only at a reasonable price level can Moutai wine truly play the value of high -quality liquor and meet consumer needs, and also lays a solid foundation for the development of enterprises and industries.

At present, Moutai's plunge should be a good thing, at least it will wake up Moutai businessmen.They should not be carnivals with soaring prices and "trillions of wealthy" in market value. They should not "drink and drink", but they should tremble, such as the abyss, such as thin ice.Because the lesson and decline of the lesson is not without the story, the value of money is worth it, and the thing must be reversed. Moutai has burned his head and will move towards the opposite side.

The author is the writer of China Financial Media column, chief analyst of Jingsu Media