https://www.scmp.com/rss/294711/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhu Wenqian Zhu Wenqian The majority shareholder of Shenzhen-listed Wuliangye Yibin (Wuliangye) – China’s iconic premium baijiu producer – plans to increase its equity stake in the listed unit by purchasing between 3 billion yuan (US$441 million) and 5 billion yuan worth of shares over the next six months, in a move aimed at bolstering investor confidence after the stock slid to a six-year low. Analysts said the stake increase followed a prolonged downturn in China’s baijiu sector and growing unease among investors... https://www.scmp.com/business/article/3352780/wuliangye-majority-shareholder-steps-large-scale-stake-purchase?utm_source=rss_feed https://www.scmp.com/business/article/3352780/wuliangye-majority-shareholder-steps-large-scale-stake-purchase?utm_source=rss_feed Thu, 07 May 2026 11:04:40 +0000 Xinmei Shen Xinmei Shen Chinese optical chipmaker Yuanjie Semiconductor Technology reported an elevenfold surge in first-quarter profits as domestic firms capitalise on soaring demand for computing power amid the artificial intelligence boom and the country’s tech self-sufficiency drive. Net profit in the three months ended March 31 jumped 1,153 per cent year on year to 179 million yuan (US$26.2 million), while revenue grew 321 per cent to 355 million yuan, the Shanghai-listed company said in a stock-exchange filing on... https://www.scmp.com/tech/tech-trends/article/3351605/optical-chipmakers-profit-soars-1153-ai-demand-chinas-tech-self-reliance-push?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3351605/optical-chipmakers-profit-soars-1153-ai-demand-chinas-tech-self-reliance-push?utm_source=rss_feed Mon, 27 Apr 2026 14:00:35 +0000 Zhang Shidong Zhang Shidong China’s largest fund manager has doubled down on consumer stocks, betting on a rebound in spending as early signs of stabilisation emerge in the property and catering sectors. Zhang Kun, who oversees US$6.9 billion at Guangzhou-based E Fund Management, increased exposure to leading baijiu makers and e-commerce platforms in his flagship mutual fund during the first quarter, according to a quarterly filing released on Thursday. The combined assets of the four funds he manages remain the largest... https://www.scmp.com/business/china-business/article/3351290/baijiu-bet-chinas-top-fund-manager-doubles-down-consumers-amid-signs-recovery?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351290/baijiu-bet-chinas-top-fund-manager-doubles-down-consumers-amid-signs-recovery?utm_source=rss_feed Fri, 24 Apr 2026 08:00:46 +0000 Zhang Shidong Zhang Shidong Chinese billionaire investor Duan Yongping touted Pop Mart International Group as a long-term investment and hinted that he may have already started building bullish bets, further validating his confidence in companies that are grappling with growth concerns. Duan, dubbed China’s Warren Buffett by some investors, recently said on social media that the toymaker had great growth potential to achieve its globalisation goal and that the barriers built by the company were enough to fend off... https://www.scmp.com/business/china-business/article/3350454/chinas-warren-buffett-calls-pop-mart-long-term-buy-hints-labubu-maker-stake?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350454/chinas-warren-buffett-calls-pop-mart-long-term-buy-hints-labubu-maker-stake?utm_source=rss_feed Fri, 17 Apr 2026 09:00:10 +0000 Cao Li Cao Li The top executive of Wuliangye Yibin – China’s second-largest liquor producer – has come under investigation for suspected corruption. Zeng Congqin, 57, chairman and party secretary of the state-owned liquor giant, is suspected of serious violations of party discipline and law – a typical reference to corruption – the provincial anti-corruption body, Sichuan Discipline Inspection Commission, announced on Saturday night. Zeng is being investigated by authorities in Yibin, a major city in the... https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed Sun, 01 Mar 2026 06:10:34 +0000 Cao Li Cao Li Chinese liquor stocks jumped on Thursday ahead of Lunar New Year, with retailers reportedly building inventories of spirits typically consumed at family reunions and corporate banquets. Shares of Kweichow Moutai – China’s best-known baijiu maker and the most valuable stock on the mainland market – climbed more than 9 per cent in afternoon trading to 1,445 yuan, their highest level in over a month. The stock closed the session 8.6 per cent higher at 1,437.72 yuan. Smaller peers also rallied, with... https://www.scmp.com/business/article/3341718/spirits-rise-baijiu-shares-rally-lunar-new-year-demand?utm_source=rss_feed https://www.scmp.com/business/article/3341718/spirits-rise-baijiu-shares-rally-lunar-new-year-demand?utm_source=rss_feed Thu, 29 Jan 2026 11:21:45 +0000 Mia Nurmamat Mia Nurmamat As the Chinese zodiac’s Year of the Horse approaches, distiller Kweichow Moutai has released a limited promotional line of its baijiu sorghum liquor commemorating the occasion as it seeks to bounce back from a prolonged sales slump – a marketing strategy being adopted by several brands in China as they look to give their revenues a festive boost. On Tuesday, Moutai launched three limited Year of the Horse editions priced between 1,899 yuan and 3,789 yuan (US$272 to US$542) a bottle. The company... https://www.scmp.com/economy/china-economy/article/3339334/horse-power-chinese-brands-look-boost-sales-lunar-new-year-items?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339334/horse-power-chinese-brands-look-boost-sales-lunar-new-year-items?utm_source=rss_feed Sat, 10 Jan 2026 08:00:14 +0000 Yulu Ao Yulu Ao Mainland Chinese stocks rose on Thursday, recovering from earlier losses as investors digested the cautious but supportive policy signals from the central bank, with gains led by insurers and defensive names. The broad-based CSI 300 Index added 0.2 per cent to 4,642.54 by the close, after briefly trading lower in the session. The Shanghai Composite Index rose 0.5 per cent. Hong Kong’s market was closed on Thursday and Friday for the Christmas holiday. Among the notable gainers, electrical... https://www.scmp.com/business/china-business/article/3337678/china-shares-edge-lower-hopes-fade-near-term-stimulus-boost?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337678/china-shares-edge-lower-hopes-fade-near-term-stimulus-boost?utm_source=rss_feed Thu, 25 Dec 2025 02:53:40 +0000 Ji Siqi Ji Siqi As China’s traditional spirits and premium wines grapple with declining consumption, a significant shift is under way across the beverage landscape. This three-part series examines the challenges faced by Maotai town as its once-coveted baijiu liquor loses its lustre, the impact of economic shutdowns on European wine imports, and the rise of craft beer as a budget-friendly alternative for consumers seeking quality without breaking the bank. On the ninth day of the ninth lunar month, when the... https://www.scmp.com/economy/china-economy/article/3333940/chinas-liquor-capital-faces-long-march-rebirth-baijius-liquid-gold-glory-wanes?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333940/chinas-liquor-capital-faces-long-march-rebirth-baijius-liquid-gold-glory-wanes?utm_source=rss_feed Mon, 24 Nov 2025 22:00:10 +0000 Yulu Ao Yulu Ao Cambricon Technologies, the artificial intelligence chipmaker dubbed “China’s Nvidia”, tumbled on Thursday as investors took profit from one of the mainland’s most frenzied stock rallies this year. Shares of the Shanghai-listed company sank as much as 16 per cent before closing 14.4 per cent lower at 1,202 yuan, the steepest single-day decline since January 16. The stock lost 84 billion yuan (US$11.8 billion) in market capitalisation. The sharp sell-off also erased 6.9 per cent from the... https://www.scmp.com/business/china-business/article/3324360/cambricon-shares-slump-14-most-7-months-reality-check-hits-investors?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324360/cambricon-shares-slump-14-most-7-months-reality-check-hits-investors?utm_source=rss_feed Thu, 04 Sep 2025 10:12:10 +0000 Cao Li Cao Li Wuliangye Yibin, China’s second-largest liquor distiller, reported its slowest earnings growth in a decade, reflecting the impact of an intensified anti-corruption campaign on ostentation and a slowing economy that has also affected its peers. First-half revenue of the Yibin, Sichuan-based company rose 4.2 per cent to 52.8 billion yuan (US$7.4 billion) from a year earlier, while net profit attributable to equity holders increased 2.3 per cent to 19.5 billion yuan, according to its earnings... https://www.scmp.com/business/companies/article/3323454/wuliangye-yibins-profit-growth-sinks-10-year-low-hit-chinas-austerity-drive?utm_source=rss_feed https://www.scmp.com/business/companies/article/3323454/wuliangye-yibins-profit-growth-sinks-10-year-low-hit-chinas-austerity-drive?utm_source=rss_feed Thu, 28 Aug 2025 05:51:20 +0000 Yulu Ao Yulu Ao Cambricon Technologies became the costliest stock in mainland China’s equities market, as the Beijing-based chipmaker replaced the liquor distiller Kweichow Moutai in a sign of the rising significance of artificial intelligence (AI) in the world’s second-largest capital market. Trading under the symbol 688256 in Shanghai, Cambricon’s shares jumped 11.60 per cent on Monday to a record 1,384.93 yuan, giving it 579.38 billion yuan (US$81 billion) in market value. The stock has more than doubled in... https://www.scmp.com/business/china-business/article/3323078/changing-times-cambricon-tops-moutai-chinas-costliest-stock-chips-trump-baijiu?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3323078/changing-times-cambricon-tops-moutai-chinas-costliest-stock-chips-trump-baijiu?utm_source=rss_feed Mon, 25 Aug 2025 10:40:07 +0000 Associated Press Associated Press Long associated with business dinners, the fiery Chinese spirit baijiu is being reshaped to appeal to younger generations as its makers adapt to changing times. Distilled mostly from sorghum, the clear but pungent spirit contains as much as 60 per cent alcohol. It is the usual choice for toasts of gan bei, the Chinese expression for bottoms up, and raucous drinking games. Jim Boyce, a Canadian writer and wine expert, founded World Baijiu Day a decade ago. The annual event aims to promote the... https://www.scmp.com/lifestyle/food-drink/article/3320440/baijiu-ice-cream-chinese-drinks-makers-target-gen-z-alcohol-sales-drop?utm_source=rss_feed https://www.scmp.com/lifestyle/food-drink/article/3320440/baijiu-ice-cream-chinese-drinks-makers-target-gen-z-alcohol-sales-drop?utm_source=rss_feed Sat, 02 Aug 2025 09:15:08 +0000 Ji Siqi Ji Siqi This is the first story in a three-part series exploring the domestic economic challenges China faces as it navigates an unprecedented trade war with the United States. In this piece, we explore Beijing’s drive to rein in wasteful government spending – and its unintended consequences. Wang, a civil servant from a small town in northeastern China, is too scared to go to restaurants these days. He even skipped his niece’s wedding due to his fear of being seen at a banquet. An avid foodie, the... https://www.scmp.com/economy/china-economy/article/3317362/china-told-its-officials-tighten-their-belts-did-they-go-notch-too-far?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317362/china-told-its-officials-tighten-their-belts-did-they-go-notch-too-far?utm_source=rss_feed Tue, 08 Jul 2025 22:00:17 +0000 Cao Li Cao Li Institutional investors are concerned that a ban on alcohol at official meals in mainland China could hamper Beijing’s efforts to boost spending and juice up the economy, according to Goldman Sachs. The recent alcohol ban at official meals, together with stricter enforcement of frugality rules by the Chinese Communist Party (CCP), had made mutual funds, private equity funds and asset managers worry about whether consumer spending would rebound, Goldman Sachs analysts led by Lisheng Wang said in... https://www.scmp.com/business/article/3316388/chinas-crackdown-banquets-and-booze-dims-spending-outlook-goldman-sachs-says?utm_source=rss_feed https://www.scmp.com/business/article/3316388/chinas-crackdown-banquets-and-booze-dims-spending-outlook-goldman-sachs-says?utm_source=rss_feed Tue, 01 Jul 2025 02:30:10 +0000 Zhang Shidong,Wency Chen Zhang Shidong,Wency Chen Stock investors are capitalising on the spending power of China’s Generation Z consumers, who splurge on everything from intellectual property (IP) toys to low-priced drinks, reaping multifold returns on so-called new consumer stocks. The ascent of Pop Mart International Group, Mixue Group and Laopu Gold is one of the few bright spots in China’s sluggish consumer industry, which has been plagued by a weak jobs market and the deflationary trend. The robust performance has come at the cost of... https://www.scmp.com/business/china-business/article/3314366/gen-zs-emotional-consumption-fuels-surge-consumer-stocks-investors-dump-old-names?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3314366/gen-zs-emotional-consumption-fuels-surge-consumer-stocks-investors-dump-old-names?utm_source=rss_feed Sun, 15 Jun 2025 03:30:12 +0000 SCMP SCMP Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. ‘Elephants trampling on global trade’: EU sidelined by US-China showdown Over two rounds of high-stakes talks on European soil, Europe has watched from the sidelines as the US and China tried to reach a truce that might stabilise the global trading system on which the continent is entirely reliant. 2. Chinese citizens in Iran, Israel need to prepare for... https://www.scmp.com/news/article/3314385/eu-sidelined-us-china-showdown-moutai-faces-sobering-reality-scmp-daily-highlights?utm_source=rss_feed https://www.scmp.com/news/article/3314385/eu-sidelined-us-china-showdown-moutai-faces-sobering-reality-scmp-daily-highlights?utm_source=rss_feed Fri, 13 Jun 2025 13:30:07 +0000 Frank Chen Frank Chen China’s premier liquor distiller Kweichow Moutai – a brand that had, over decades, become synonymous with sumptuous feasts – is heeding a renewed mandate for austerity from Beijing, distancing its products from the extravagant hard-drinking lifestyle with which it had been linked in the public consciousness. Management at the company, valued at 1.86 trillion yuan (US$258.73 billion), has pledged to comply with strictures stressing thrift – guidelines that have helped to remove Moutai’s expensive... https://www.scmp.com/economy/china-economy/article/3314159/moutai-chinas-premier-liquor-brand-may-find-austerity-rules-hard-swallow?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3314159/moutai-chinas-premier-liquor-brand-may-find-austerity-rules-hard-swallow?utm_source=rss_feed Thu, 12 Jun 2025 22:00:08 +0000 Ji Siqi Ji Siqi Selecting which crops to grow each season can be a make-or-break decision for farmers. And in the ancient Chinese town of Baisha, famous for its liquor production, more and more are sowing seeds of change in a bid to capitalise on the evolving tastes of consumers. Located in the southwestern megacity of Chongqing and home to the distillery of Chinese baijiu distilled-liquor brand Jiang Xiao Bai, the town is seeing its farmland increasingly being used to grow green plums instead of sorghum... https://www.scmp.com/economy/china-economy/article/3313366/baijiu-blues-chinas-gen-z-rewriting-liquor-industry-tastes-change-consumption-dips?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3313366/baijiu-blues-chinas-gen-z-rewriting-liquor-industry-tastes-change-consumption-dips?utm_source=rss_feed Sat, 07 Jun 2025 11:00:08 +0000 Ann Cao Ann Cao Apple, Huawei Technologies and Xiaomi lead mainland China’s top brands based on domestic consumers’ online purchase behaviour, according to the first such ranking carried out by Peking University in Beijing. With the support of Taobao and Tmall Group (TTG), the domestic e-commerce unit of Alibaba Group Holding, the university released its findings on Wednesday in a report that featured “China’s Top 500 Online Consumer Brands List”. Alibaba owns the South China Morning Post. The rankings showed... https://www.scmp.com/tech/tech-trends/article/3311381/apple-huawei-xiaomi-lead-chinas-top-500-ranking-consumer-brands-report-finds?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3311381/apple-huawei-xiaomi-lead-chinas-top-500-ranking-consumer-brands-report-finds?utm_source=rss_feed Thu, 22 May 2025 13:00:11 +0000 SCMP Sport SCMP Sport The International Series resumes this week, taking the Asian Tour’s elevated event to Japan for the first time and potentially opening the way for LIV Golf to follow. Tournaments in Cambodia and the Philippines have also been added to a now-completed schedule of 10 events that includes the return of the Singapore Open for the first time since 2022. Alongside the new countries are new sponsors, such as real estate giant DLF, Chinese liquor brand Kweichow Moutai and e-gaming brand BingoPlus. This... https://www.scmp.com/sport/golf/article/3309213/japan-next-stop-international-series-golf-schedule-new-sponsors-are-locked?utm_source=rss_feed https://www.scmp.com/sport/golf/article/3309213/japan-next-stop-international-series-golf-schedule-new-sponsors-are-locked?utm_source=rss_feed Tue, 06 May 2025 11:00:11 +0000 Enoch Yiu Enoch Yiu Technology giant Tencent Holdings was Chinese mutual funds’ top stock holding in the first quarter, pushing Contemporary Amperex Technology (CATL) into second place, as mainland institutional investors increased their holdings of Hong Kong-listed shares, according to data from TX Investment Consulting on Wednesday. A total of 1,186 mainland Chinese mutual funds held a combined 151 million Tencent shares worth 69.38 billion yuan (US$9.5 billion) at the end of March, the data showed. CATL, the... https://www.scmp.com/business/companies/article/3307597/tencent-tops-chinese-mutual-funds-holdings-hong-kong-stocks-gain-traction?utm_source=rss_feed https://www.scmp.com/business/companies/article/3307597/tencent-tops-chinese-mutual-funds-holdings-hong-kong-stocks-gain-traction?utm_source=rss_feed Wed, 23 Apr 2025 09:00:16 +0000 Zhang Shidong Zhang Shidong Chinese liquor giant Kweichow Moutai will launch its first-ever stock repurchase programme, as it seeks to prop up its shares amid tepid consumer spending on the mainland. The company, based in China’s southern Guizhou province, plans to spend 3 billion yuan (US$425.4 million) to 6 billion yuan buying back its shares in the 12 months following approval from shareholders, according to a statement to the Shanghai Stock Exchange over the weekend. The repurchased shares will be cancelled, which will... https://www.scmp.com/business/china-business/article/3279603/kweichow-moutai-seeks-prop-flagging-shares-first-ever-repurchase-programme?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3279603/kweichow-moutai-seeks-prop-flagging-shares-first-ever-repurchase-programme?utm_source=rss_feed Mon, 23 Sep 2024 07:59:20 +0000 Zhang Shidong Zhang Shidong Antony Xu has steered clear of stocks as his investment portfolio has been unprofitable over the past few years. “For now, I’d rather put my spare money in banks’ wealth management products,” said the 47-year-old accounting executive in Shanghai. “The returns are low, but at least I can make some money. I’ve been suffering paper losses from stocks for years and there’s no way I’ll increase my investments in the near term.” Luring investors such as Xu to China’s US$8.2 trillion stock market has... https://www.scmp.com/business/china-business/article/3275552/chinas-stock-woes-funds-shun-equities-bonds-etfs-luxury-homes-downbeat-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3275552/chinas-stock-woes-funds-shun-equities-bonds-etfs-luxury-homes-downbeat-market?utm_source=rss_feed Sat, 24 Aug 2024 00:00:14 +0000 UBS Group downgraded the ratings on Kweichow Moutai and other Chinese major liquor distillers as capacity expansions and destocking strategies create a supply overhang, at a time when consumer demand is waning in the world’s biggest spirits market. In a research note, the Swiss bank lowered its recommendation on Kweichow Moutai to neutral from buy and also cut the ratings on Wuliangye Yibin, Luzhou Laojiao and Jiangsu Yanghe Distillery by a notch to neutral. China’s traditional liquor, or baijiu... https://www.scmp.com/business/china-business/article/3272430/ubs-takes-spirit-out-chinas-distillers-downgrading-moutai-other-baijiu-brands?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3272430/ubs-takes-spirit-out-chinas-distillers-downgrading-moutai-other-baijiu-brands?utm_source=rss_feed Tue, 30 Jul 2024 05:28:03 +0000 Makers of the Chinese spirit baijiu are reformulating the fiery grain liquid to appeal to a wider client base, including cocktail drinkers in New York, Los Angeles and London. While sales in China are still rising, top baijiu makers such as Kweichow Moutai face far slower growth than in the past as younger consumers increasingly opt for alternatives to the country’s national spirit. Now, in an effort to find new pockets of growth, some major makers of the colourless spirit are starting to pitch... https://www.scmp.com/lifestyle/food-drink/article/3268269/how-chinese-distillers-are-adapting-baijiu-attract-more-western-drinkers?utm_source=rss_feed https://www.scmp.com/lifestyle/food-drink/article/3268269/how-chinese-distillers-are-adapting-baijiu-attract-more-western-drinkers?utm_source=rss_feed Sat, 29 Jun 2024 11:15:08 +0000 Prices of China’s most famous liquor, Mao-tai, are falling, as weakening consumer spending spills over to high-end discretionary goods. The average wholesale price of Flying Fairy, the flagship product of Kweichow Moutai with 53 per cent alcohol content, recently dropped below 2,400 yuan (US$330) per bottle, a decline of about 8 per cent over the past two months to a three-year low, according to industry data. Mao-tai, which is used in state banquets to entertain foreign dignitaries, was once... https://www.scmp.com/business/china-business/article/3266620/dampened-spirits-kweichow-moutais-luxury-liquor-prices-hit-falling-consumer-spending?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3266620/dampened-spirits-kweichow-moutais-luxury-liquor-prices-hit-falling-consumer-spending?utm_source=rss_feed Fri, 14 Jun 2024 10:00:42 +0000 The value of China’s top 100 storied brands stretching from liquor to commercial banks dropped 4.5 per cent in 2023, battered by weak consumer sentiment and a gloomy economic outlook, according to the latest research by the Hurun Report. The consultancy known for its China Rich List found that the intangible assets of the mainland’s 100 most successful indigenous brands with at least 60 years of history were valued at a combined 9.43 trillion yuan (US$1.32 trillion) in 2023, compared to 9.87... https://www.scmp.com/business/china-business/article/3246069/chinas-top-100-storied-brands-lose-45-cent-their-intangible-assets-value-economic-downturn-weakens?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3246069/chinas-top-100-storied-brands-lose-45-cent-their-intangible-assets-value-economic-downturn-weakens?utm_source=rss_feed Sat, 23 Dec 2023 04:30:13 +0000 Ten Chinese companies including nuclear power generator CGN Power, medical equipment maker Shanghai United Imaging Healthcare and chip designer Empyrean Technology will join MSCI’s gauge that tracks yuan-denominated onshore stocks. The change to the MSCI China A Onshore Index, effective after the close on November 30, also removes 45 companies, MSCI said in a statement on its website on Tuesday night. Most of the deletions are industrial companies, as the global index compiler’s rebalancing... https://www.scmp.com/business/china-business/article/3241602/msci-china-share-gauge-get-10-new-stocks-including-nuclear-generator-cgn-chip-maker-empyrean?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3241602/msci-china-share-gauge-get-10-new-stocks-including-nuclear-generator-cgn-chip-maker-empyrean?utm_source=rss_feed Wed, 15 Nov 2023 05:30:31 +0000 The latest sell-off in Chinese bellwether stock, Kweichow Moutai, is being interpreted by analysts as a harbinger of a market bottom after shares in the liquor giant posted their biggest decline in almost a year. Over the past decade, major declines in the stock have been followed by gains for the benchmark. The CSI 300 Index rose almost 6 per cent in the 12 months that followed a 19 per cent slump in Kweichow Moutai’s shares in September 2013. The benchmark gained 23 per cent over the ensuing... https://www.scmp.com/business/china-business/article/3238694/kweichow-moutai-does-sell-signal-chinas-beleaguered-stock-market-about-turn-around?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238694/kweichow-moutai-does-sell-signal-chinas-beleaguered-stock-market-about-turn-around?utm_source=rss_feed Sun, 22 Oct 2023 04:30:14 +0000 This week, one of the most discussed topics on Chinese social media was a “sauce-flavoured latte”. It is a coffee product infused with Mao-tai, being offered by Kweichow Moutai – a well-known producer of the fiery Chinese spirit – and Luckin Coffee, a Chinese coffee brand. Despite its long history and reputation as the national liquor of China, Mao-tai is losing its appeal to China’s younger population. To rejuvenate its brand, Kweichow Moutai has been looking for ways to, as Reuters put it,... https://www.scmp.com/comment/opinion/article/3233737/kweichow-moutais-saucy-latte-good-example-chinese-culture-adapting-stay-relevant?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3233737/kweichow-moutais-saucy-latte-good-example-chinese-culture-adapting-stay-relevant?utm_source=rss_feed Sat, 09 Sep 2023 00:15:22 +0000 Zhang Kun, China’s biggest fund manager, has latched onto the country’s biggest companies – from Tencent Holdings to Kweichow Moutai – and is betting that their moating advantage will deliver sustainable returns over time, as the economy recovers, despite a dismal second-quarter showing. The social-media and gaming company and the distiller were the two biggest holdings of E Fund Blue Chip Selected Mixed Fund, Zhang’s 49.2 billion yuan (US$6.9 billion) flagship fund, over the second quarter,... https://www.scmp.com/business/china-business/article/3228319/zhang-kun-chinas-biggest-money-manager-sticks-bets-giants-tencent-and-kweichow-moutai-looks-past?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3228319/zhang-kun-chinas-biggest-money-manager-sticks-bets-giants-tencent-and-kweichow-moutai-looks-past?utm_source=rss_feed Thu, 20 Jul 2023 07:00:08 +0000 Chinese mutual fund firms have ratcheted up investments in their own products on bets the dip-buying strategy will help them ride out the uncertainty prevailing on the stock markets. Some 60 firms have spent more than 2.5 billion yuan (US$350.9 million) buying their own funds so far this year, according to data compiled by the China Securities Journal. Bank of Communications Schroder Fund Management, which oversees 500 billion yuan of assets, is the latest to join the bandwagon, announcing this... https://www.scmp.com/business/china-business/article/3227707/chinese-money-managers-pump-us351-million-own-products-show-confidence-they-navigate-fragile-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3227707/chinese-money-managers-pump-us351-million-own-products-show-confidence-they-navigate-fragile-market?utm_source=rss_feed Fri, 14 Jul 2023 08:38:08 +0000 Kweichow Moutai, the world’s most valuable liquor company, is slowly returning to investors’ radars with buying interest returning after a bruising trillion yuan sell-off. Controlling shareholder China Kweichow Moutai Winery Group spent 1.676 billion yuan (US$231.7 million) buying back 919,621 shares of its listed unit over the past six months, while an affiliate Kweichow Moutai Distillery Group Technology Development bought back 37,600 shares for 69 million yuan in the span, Kweichow Moutai... https://www.scmp.com/business/china-business/article/3225718/does-kweichow-moutais-major-shareholders-buy-back-signal-end-nasty-hangover-after-us152-billion-sell?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3225718/does-kweichow-moutais-major-shareholders-buy-back-signal-end-nasty-hangover-after-us152-billion-sell?utm_source=rss_feed Wed, 28 Jun 2023 08:01:11 +0000 Chinese baijiu distiller ZJLD Group plans to raise as much as HK$6.37 billion (US$811.5 million) in an initial public offering (IPO) that would be the biggest in Hong Kong this year and would give international investors additional access to a growing market amid China’s consumption recovery. The Beijing-headquartered company, the fourth-largest privately owned baijiu producer in China based on data from Frost & Sullivan, on Monday started selling up to 490.7 million shares at a price range of... https://www.scmp.com/business/china-business/article/3217313/chinese-baijiu-distiller-zjld-eyes-biggest-hong-kong-ipo-year-share-sale-set-raise-us811-million?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3217313/chinese-baijiu-distiller-zjld-eyes-biggest-hong-kong-ipo-year-share-sale-set-raise-us811-million?utm_source=rss_feed Mon, 17 Apr 2023 07:29:49 +0000 ZJLD Group, a Chinese liquor company, is planning to start taking investor orders as early as next week for what could be this year’s biggest initial public offering (IPO) in Hong Kong, according to people familiar with the matter. The company is looking to raise US$800 million to US$900 million in the first-time share sale, said the people, asking not to be identified as the information is private. Deliberations are ongoing and details of the offering such as the fundraising amount and timing... https://www.scmp.com/business/china-business/article/3216796/chinese-liquor-maker-zjld-start-taking-orders-us900-million-hong-kong-ipo-soon-sources-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3216796/chinese-liquor-maker-zjld-start-taking-orders-us900-million-hong-kong-ipo-soon-sources-say?utm_source=rss_feed Wed, 12 Apr 2023 08:49:28 +0000 Chairman Mao’s favourite tipple led China’s top brands in 2022, as consumer firms outperformed technology giants and social-media platforms during a volatile year, according to the latest Hurun brand rankings released on Monday. Shanghai-listed Kweichow Moutai was the most valuable Chinese brand for a fifth straight year, according to the 2022 Hurun Brands List. The liquor maker, which is also one of the most valuable stocks in the country, was the only brand on the list with value of more than... https://www.scmp.com/business/china-business/article/3215827/hurun-says-kweichow-moutai-chinas-most-valuable-brand-fifth-straight-year-2022-amid-rising-trust?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3215827/hurun-says-kweichow-moutai-chinas-most-valuable-brand-fifth-straight-year-2022-amid-rising-trust?utm_source=rss_feed Mon, 03 Apr 2023 08:30:11 +0000 China’s biggest fund manager latched onto consumer stocks as the end of Covid-19 restrictions promised to revitalise household consumption and sell-offs last year made equities more appealing. Zhang Kun, who manages the US$8.3 billion E Fund Blue Chip Selected Mixed Fund, had Tencent Holdings, liquor distillers Wuliangye Yibin and Kweichow Moutai and dairy producer Inner Mongolia Yili Industrial Group among his top 10 holdings as of the end of 2022, according to his flagship fund’s annual... https://www.scmp.com/business/china-business/article/3215439/tencent-kweichow-moutai-among-top-china-fund-managers-stock-picks-after-reopening-and-market-rout?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3215439/tencent-kweichow-moutai-among-top-china-fund-managers-stock-picks-after-reopening-and-market-rout?utm_source=rss_feed Thu, 30 Mar 2023 23:30:09 +0000 China Mobile is closing in on liquor juggernaut Kweichow Moutai as the most valuable stock on the onshore market, with traders betting the mobile-network operator will pay out more dividends and tap new revenue sources thanks to Beijing’s plan to digitise the economy. China Mobile has a market capitalisation of 2.1 trillion yuan (US$304.8 billion), second only to Kweichow Moutai’s 2.2 trillion yuan, according to financial data provider Shanghai DZH. Kweichow Moutai’s market cap has grown by... https://www.scmp.com/business/china-business/article/3213585/china-mobile-challenges-kweichow-moutai-biggest-stock-crown-traders-pile-amid-beijings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3213585/china-mobile-challenges-kweichow-moutai-biggest-stock-crown-traders-pile-amid-beijings?utm_source=rss_feed Wed, 15 Mar 2023 08:00:20 +0000 Consumer companies have led a rally in China’s stocks since the easing of Covid-19 restrictions released pent-up demand, even as major cities experience a spike in infections that is putting a strain on the healthcare system. A gauge of consumer-staple stocks on the CSI 300 index, mostly comprising baijiu distillers such as Kweichow Moutai and Wuliangye Yibin, has gained 28 per cent since the start of November, making it the best performer among 10 industry groups. A measure of... https://www.scmp.com/business/china-business/article/3203273/consumer-stocks-lead-china-rally-even-surging-covid-19-infections-big-cities-cause-jitters?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3203273/consumer-stocks-lead-china-rally-even-surging-covid-19-infections-big-cities-cause-jitters?utm_source=rss_feed Wed, 14 Dec 2022 08:43:43 +0000 Put aside the “white horses,” the local parlance for blue-chip stocks in mainland China. The nation’s army of mom-and-pop traders with US$3.55 trillion buying power are enchanted by “demon stocks”, and regulators are presumably not too happy about it. Like AMTD Digital, the little-known Chinese fintech company that surged as much as 21,426 per cent over three weeks in New York, retail traders want to find and own the next Andon Health, Zhongtong Bus and Huitong Construction – three of the stocks... https://www.scmp.com/business/markets/article/3188006/chinas-retail-traders-covet-demon-stocks-wild-gains-ready-crash?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188006/chinas-retail-traders-covet-demon-stocks-wild-gains-ready-crash?utm_source=rss_feed Sun, 07 Aug 2022 23:30:29 +0000 A zoo worker in southern China denied allegations that they gave a male lion a “neat fringe” haircut after a photo of the animal delighted the internet. The Guangzhou Zoo in Guangdong province said the 13-year-old lion’s glorious hairdo resulted from the increase in humidity in the city. “We would never dare to cut his hair”, said the worker, according to multiple reports. “The lion’s hairstyle will change eventually,” she said. The lion, named Hanghang, brought joy to people who saw the... https://www.scmp.com/news/people-culture/trending-china/article/3179714/quirky-china-zoo-denies-it-gave-lion-cute-fringe?utm_source=rss_feed https://www.scmp.com/news/people-culture/trending-china/article/3179714/quirky-china-zoo-denies-it-gave-lion-cute-fringe?utm_source=rss_feed Tue, 31 May 2022 01:00:29 +0000 The weeks-long Shanghai lockdown under China’s zero-Covid policy, which forced most of the city’s 26 million people indoors and brought manufacturing to a virtual standstill, has taken a heavy toll on China’s commercial and financial hub. At the same time, it has underscored the city’s crucial economic position not only in China but globally. Here’s a look at the city’s economic weight. Biggest GDP contributor among Chinese cities In 2021, Shanghai recorded a gross domestic product of 4.32... https://www.scmp.com/business/companies/article/3178032/shanghai-home-tesla-smic-and-gm-and-volkswagens-chinese-partner?utm_source=rss_feed https://www.scmp.com/business/companies/article/3178032/shanghai-home-tesla-smic-and-gm-and-volkswagens-chinese-partner?utm_source=rss_feed Tue, 17 May 2022 05:03:41 +0000 Kweichow Moutai, the mainland’s most valuable stock, is launching its own online sales platform as the Chinese liquor maker seeks to overhaul its marketing network that is dominated by distributors. The app – iMoutai – will go online on Thursday, the Guizhou province-based company said on its official WeChat account. It was the most downloaded app on the Apple store on Tuesday, underscoring consumers’ enthusiasm for the Chinese traditional baijiu that is typically sold for more than 2,000 yuan... https://www.scmp.com/business/china-business/article/3172254/kweichow-moutai-starts-online-sales-platform-boost-profit?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3172254/kweichow-moutai-starts-online-sales-platform-boost-profit?utm_source=rss_feed Tue, 29 Mar 2022 09:00:13 +0000 It certainly would be a tough sell for most people to spend hundreds of thousands of dollars on a bottle of liquor, but that is the value of a 1959 bottle of baijiu currently on auction at Christie’s. The bottle, which is part of an online auction with 100 lots closing on January 13, is valued as being worth between US$125,000 and US$250,000. “1959 bottles are exceptionally rare. A Mao-tai of this age is very hard to come by, and there are many counterfeits out there. In addition to being... https://www.scmp.com/news/people-culture/social-welfare/article/3162481/us250000-bottle-baijiu-1959-bottle-mao-tai-could?utm_source=rss_feed https://www.scmp.com/news/people-culture/social-welfare/article/3162481/us250000-bottle-baijiu-1959-bottle-mao-tai-could?utm_source=rss_feed Fri, 07 Jan 2022 04:10:29 +0000 Josephine Tee Josephine Tee Across dining tables in China, diners toast (or taunt) each other with a tiny shot of the distinctively pungent baijiu. The sorghum-based Chinese liquor commonly produced in the country’s southwestern Guizhou province has played a key role in China’s drinking culture since the Ming dynasty. Today, baijiu is often cited as the world’s most frequently consumed liquor, thanks largely to the country’s population, 1.4 billion strong. With a market cap of US$69.2 billion, distillers Kweichow Moutai... https://www.scmp.com/magazines/style/news-trends/article/3161499/will-world-drink-more-baijiu-2022-beyond-kweichow-mao?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3161499/will-world-drink-more-baijiu-2022-beyond-kweichow-mao?utm_source=rss_feed Thu, 30 Dec 2021 05:32:58 +0000 The former chairman of China’s biggest liquor company, Kweichow Moutai, was sentenced on Thursday to life in prison for taking bribes, state news agency Xinhua reported. Yuan Renguo was sentenced by the Intermediate People’s Court in Guiyang, in southern Guizhou province, for accepting cash and property worth more than 112.9 million yuan (US$17.48 million) to help others obtain Mao-tai baijiu dealerships when he was a senior figure at the company between 1994 and 2018, the report said. Kweichow... https://www.scmp.com/news/china/politics/article/3149956/former-chairman-luxury-liquor-firm-kweichow-moutai-sentenced?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3149956/former-chairman-luxury-liquor-firm-kweichow-moutai-sentenced?utm_source=rss_feed Fri, 24 Sep 2021 07:32:49 +0000 Ping An Insurance (Group) climbed into the top 10 most admired companies for the first time in a global ranking as public perception about its business improved. Apple fell off its perch while Nike and Netflix slipped out of the top pile. China’s biggest insurer rose seven rungs to eighth on the FutureBrand Index, an annual ranking of the world’s 100 most valuable companies based on perception strength rather than financial prowess. Liquor distiller Kweichow Moutai, the only other Chinese brand... https://www.scmp.com/business/companies/article/3147687/ping-insurance-enters-top-10-most-admired-companies-apple-nike?utm_source=rss_feed https://www.scmp.com/business/companies/article/3147687/ping-insurance-enters-top-10-most-admired-companies-apple-nike?utm_source=rss_feed Mon, 06 Sep 2021 04:30:24 +0000 China’s onshore stocks have been unable to provide safe haven from the country’s regulatory storm, after speculation about closer scrutiny of baijiu distillers sank index heavyweights on the mainland. Kweichow Moutai, the stock with the biggest weighting on the Shanghai Composite Index, tumbled 4.4 per cent to 1,552.24 yuan on Friday, while rival Wuliangye Yibin, the most valuable stock on a gauge tracking the sector on the Shenzhen exchange, sank 7.3 per cent to 206.38 yuan. An index tracking... https://www.scmp.com/business/companies/article/3145768/no-shelter-traders-speculation-mounts-chinas-regulatory-storm?utm_source=rss_feed https://www.scmp.com/business/companies/article/3145768/no-shelter-traders-speculation-mounts-chinas-regulatory-storm?utm_source=rss_feed Fri, 20 Aug 2021 07:31:02 +0000 China’s clampdown on monopolistic market behaviours has not only clipped the wings of technology giants but also evaporated stock gains collected by mutual fund investors. This has given an extra push in rotation into safer value stocks. The government last week fined entities related to a dozen of technology groups including Tencent Holdings, Baidu and Alibaba Group Holding for disclosure failures, soon after wrapping up the “two sessions” proceedings where it promised a mix of regulatory... https://www.scmp.com/business/china-business/article/3125394/chinas-mutual-funds-earn-zero-rotation-market-clampdown?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3125394/chinas-mutual-funds-earn-zero-rotation-market-clampdown?utm_source=rss_feed Mon, 15 Mar 2021 00:00:17 +0000