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Kweichow Moutai
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Kweichow Moutai

Kweichow Moutai
Kweichow Moutai
Baijiu is a liquor (the word means white liquor) distilled in China that is sought after for official banquets and for gifts. Kweichow Moutai is probably the best known baijiu. Sales of the potent white spirit have risen in recent years, powered by a boom in the luxury market in China.
People visit the Kweichow Moutai booth at the China International Consumer Products Expo in Haikou, capital of south China’s Hainan province. Photo: Xinhua
China stock market

China’s state funds exit Kweichow Moutai as 25-year profit growth comes to end

Central Huijin Investment and China Securities Finance are not among Kweichow Moutai’s top 10 shareholders as of second quarter.

China stock market

Chinese fund managers’ pursuit of AI plays backfires as hot tech stocks wobble

China stock market

Elite company: the firms that were China’s most valuable before CXMT

China stock market

China’s star fund manager dumps consumer bets in pivot to AI

Zhang Kun cuts US$3.1 billion fund’s holdings in baijiu and e-commerce as ‘downside pressure on the economy has exceeded expectations’.

A bottle of Mao-tai, a variety of baijiu, is displayed in the window of a shop in Beijing on March 15, 2022. Photo: Simon Song
China stock market

Mainland China markets follow US in embracing tech stock dominance

AI boom sees long-time bellwether Kweichow Moutai cede top spot in CSI 300 Index weightings to Zhongjin Innolight.

China stock market

China’s divergent stock market displays a microcosm of the nation’s economy

The stock market catalogues China’s uneven growth, as manufacturing expands and consumption falls.

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China’s private sector

After accounting overhaul, can Wuliangye share buys restore investor confidence?

Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment.

The Wuliangye Group share purchase follows a prolonged downturn in China’s baijiu sector. Photo: Getty Images
Semiconductors

Chinese optical chipmaker’s profit soars 1,153% on strong AI demand

Yuanjie Semiconductor Technology’s profit gain matches its elevenfold share price increase over the past year.

China stock market

Baijiu bet: top China fund manager backs consumer rebound

Zhang Kun ramps up exposure to liquor makers and e-commerce, backing a gradual recovery in consumption despite weak retail data.

Hong Kong stock market

China’s Warren Buffett calls Pop Mart a long-term buy, hints at owning stake

Duan Yongping sees Pop Mart as a promising long-term investment, praising its growth potential and unique business model.

Labubu dolls are on display at the Pop Mart store at the American Dream mall in East Rutherford, New Jersey. Photo: AP
Xi Jinping's anti-corruption campaign

Chairman of China’s second-largest liquor producer under corruption probe

Wuliangye Yibin’s Zeng Congqin is the latest high-profile figure targeted as Beijing’s anti-corruption drive intensifies in liquor sector.

Zeng Congqin is suspected of serious violations of party discipline and law Photo: Handout
China stock market

Spirits rise as baijiu shares rally on Lunar New Year demand

With liquor stocks viewed as a barometer of real estate-linked business activity, the rally reflects renewed hopes for the property sector.

China consumption

Horse power: brands in China seek sales boost with Lunar New Year items

Distiller Kweichow Moutai among the companies launching limited-run Year of the Horse products to jolt revenues during the festive season.

China stock market

China stocks recover from early losses on cautious PBOC policy tone

Mainland stocks closed higher after paring earlier losses as investors read the central bank’s latest messaging as supportive but restrained.

This photo shows a general view of screens diplaying financial market movements at the new building of the Shanghai Stock Exchange in Shanghai on April 25, 2025. (Photo by Hector RETAMAL / AFP)
China consumption

China’s liquor capital faces long march to rebirth as ‘liquid gold’ glory wanes

In Maotai town, baijiu producers diversify offerings while expanding to markets such as Hong Kong and Southeast Asia amid a culture shift and economic challenges.

Illustration: Brian Wang
China stock market

Cambricon shares slump 14%, the most in 7 months, as investors lock in gains

Ai chip maker’s stock is still up nearly 83 per cent this year, giving it a market value of 502.8 billion yuan.

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Accounting and auditing

Wuliangye Yibin’s profit slump mirrors rival Kweichow Moutai’s woes

First-half revenue and profit at China’s second-largest liquor distiller grew at the smallest pace since 2015.

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China stock market

Cambricon tops Moutai as China’s costliest stock as chips beat liquor

Cambricon’s stock jumped 11.60 per cent on Monday to a record 1,384.93 yuan, giving it 519.38 billion yuan market value.

Cambricon Technologies at the 2021 World Artificial Intelligence Conference in Shanghai on July 8, 2021. Photo: Handout
Food and Drinks

Baijiu ice cream? Chinese drinks makers target Gen Z as alcohol sales drop

As China cuts down on boozy banquets and business dinners, and people think more about health, baijiu makers are adapting to survive.

China's economic recovery

China tried to cut lavish spending. Now some officials fear ordering coffee

Some regions have rolled out draconian austerity measures that have hit businesses hard, complicating Beijing’s drive to boost consumption.

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China economy

China’s crackdown on banquets, booze dims spending outlook: Goldman Sachs

Investors are also sceptical that the government’s incremental policy easing will be sufficient, the US investment bank says.

Shares in distiller Kweichow Moutai, a brand synonymous with lavish banquets, fell more than 6 per cent over the past month. Photo: Getty Images
Hong Kong stock market

Gen Z’s ‘emotional consumption’ fuels surge in consumer stocks like Pop Mart

Shares of Pop Mart, the Chinese toymaker that owns Labubu, have surged almost 600 per cent over the past year in Hong Kong.

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Labubu figures and stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. Photo: AFP
SCMP Highlights

EU sidelined by US-China showdown, Moutai’s new reality: SCMP daily highlights

From EU eyeing impact of Washington-Beijing trade talks to austerity trimming profits at China’s top baijiu maker, here’s a round-up from today’s coverage.

China consumption

China’s top baijiu maker faces sobering reality as austerity trims profits

Guidelines restricting spending by officials are trimming profits for one of China’s strongest brands – but there’s little the company can do.

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China manufacturing

Baijiu blues and plum pickings: tastes of China’s Gen Z rewrite liquor industry

Young Chinese are driving a shift from the traditional white spirit to fruity, lower-alcohol beverages, in a sign of as evolving lifestyles.

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The Jiangji Distillery is a brewing base for Chinese liquor, located in Baisha town, Chongqing. Photo: Handout
E-commerce

Apple, Huawei, Xiaomi lead China’s top-500 ranking of consumer brands, report finds

The rankings were based on domestic consumers’ online purchase behaviour, according to a Peking University report.

The rankings showed Apple with a 100-point score, while Huawei and Xiaomi notched scores of 95.3 and 95.1, respectively. Photo: Shutterstock
Asian Tour

Japan next stop for International Series as schedule, new sponsors are locked in

Field at Caledonian Golf Club includes LIV’s Tom McKibbin and John Catlin, Hong Kong’s Taichi Kho, Matthew Cheung, and Japan’s Riyo Ishikawa.

Stocks

Tencent tops Chinese mutual funds’ holdings as Hong Kong stocks gain traction

Some 1,200 mainland Chinese mutual funds held a combined 151 million Tencent shares worth US$9.5 billion at the end of the first quarter.

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