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.
Illustration: Brian Wang
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.

China stock market

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

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Accounting and auditing

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

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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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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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Moutai, one of China’s most popular liquor brands, is being put in a difficult position by rules limiting extravagant spending by officials. Photo: Xinhua
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.

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.

Tencent was Chinese mutual funds’ top stock holding in the first quarter, according to data from TX Investment Consulting. Photo: Reuters
China stock market

Kweichow Moutai to launch stock buyback plan amid weak spending in China

Kweichow Moutai will launch its first-ever stock repurchase plan, as it seeks to prop up its shares amid tepid spending on the mainland.

A bottle of Maotai in Beijing. Photo: SCMP/Simon Song
China stock market

Why China’s 220 million retail investors are shying away from the stock market

Chinese investors shun stocks amid economic uncertainty, preferring bonds, ETFs and luxury homes. Optimism is low despite government efforts to boost market confidence.

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China stock market

UBS downgrades Kweichow Moutai, others in sobering comedown for China distillers

An intensifying demand-supply mismatch is set to crimp earnings in the world’s biggest spirits market, according to Swiss investment bank UBS.

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Food and Drinks

Makers of baijiu, fiery Chinese spirit, refine it for Western palates

Producers of China’s favourite spirit, baijiu, are looking at cracking overseas markets by using influencers and social media advertising, tweaking its flavour and trying it out in cocktails.

A cocktail containing baijiu sold at Manhatta in New York. Makers of China’s favourite spirit are looking at cracking overseas markets, using influencers and social media advertising, tweaking its flavour and trying it out in cocktails. Photo: Reuters
China stock market

Dampened spirits: Kweichow Moutai’s liquor prices hit by weak consumer spending

The average wholesale price of Flying Fairy, the flagship product of Kweichow Moutai, has fallen 8 per cent in the past two months to below US$330 per bottle.

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China economy

China’s top 100 storied brands fall in value as weak economy dents demand

The Hurun Report found that the intangible assets of the mainland’s 100 biggest 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 trillion yuan the previous year.

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China stock market

MSCI China A-share gauge adds technology stocks, removes industrials

The index compiler will add 10 stocks and remove 45 as it reflects China’s drive towards technology self-reliance.

People pass beneath a large screen showing the latest stock exchange and economy data in Shanghai on October 20, 2023. Photo: EPA-EFE
China stock market

Kweichow Moutai’s sell-off augurs a rebound for China’s stock market: analysts

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.

Employees spread out steamed sorghum to cool ahead of fermentation at the Kweichow Moutai Co. distillery in the town of Maotai in Renhuai, Guizhou province, China. Photo: Bloomberg
Chinese culture

Opinion | Mao-tai latte shows how to keep Chinese culture modern and relevant

Rather than just Kweichow Moutai’s latest sales gimmick, the Mao-tai-infused coffee could be the start of a cultural renewal that China badly needs. A cultural renewal can help increase China’s appeal to both its own people and the outside world, and this must start from within.

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China stock market

China’s biggest fund manager sticks to behemoths despite poor second quarter

Zhang Kun, China’s biggest fund manager, has latched onto the country’s biggest companies and is betting that their moating advantage will deliver sustainable returns over time as the economy recovers.

China stock market

Chinese mutual funds buy US$351 million of own products in show of confidence

Chinese mutual fund operators have been investing in their own products on bets the dip-buying strategy will help them to ride out the uncertainty prevailing on the stock markets.

A large screen displays stock figures in Shanghai’s Lujiazui financial district. Photo: Bloomberg
China stock market

Kweichow Moutai owners eye new highs for shares after hefty buy-backs

The controlling shareholders of Kweichow Moutai, have spent 1.75 billion yuan (US$242.2 million) on share buy-backs which they say reflected confidence in the company’s growth outlook and investment value even as analysts predict a hefty upside for the shares.

Moutai on store shelf. Moutai is a brand of baijiu, a distilled Chinese liquor, made in the town of Maotai in China’s Guizhou province. Photo: Shutterstock
IPO

Baijiu distiller eyes up to US$811 million in biggest Hong Kong IPO of year

ZJLD Group on Monday started selling up to 490.7 million shares at a price range of HK$10.78 to HK$12.98, giving international investors additional access to a growing market amid China’s consumption recovery.

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IPO

Chinese liquor maker ZJLD set to launch US$900 million IPO soon: sources

ZJLD Group’s IPO would be the largest in Hong Kong since electric-vehicle battery maker CALB’s US$1.3 billion listing in October. Only US$860 million has been raised in the city so far this year.

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