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.
Distiller Kweichow Moutai has released a limited promotional line of liquor commemorating the Year of the Horse. Photo: Kweichow Moutai/Handout
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

China consumption

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

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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Cambricon last week replaced liquor distiller Kweichow Moutai as the most expensive stock in China. Photo: CFOTO/Future Publishing via Getty Images
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.

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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.

Bartender Allen Zhang places a slice of dried pear on a cocktail named “Beijing Beijing” made with the fiery Chinese baijiu spirit at a bar in Beijing, China, on June 13, 2025. The popular Chinese spirit baijiu is getting rebranded to improve lagging sales. Photo: AP
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.

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.

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

Carlos Ortiz of Mexico leads the International Series rankings with American Ollie Schniederjans after two events. Photo: Asian Tour
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.

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.

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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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Illustration by Brian Wang
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.

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.

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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Prices of Kweichow Moutai has trended lower in the past two months. Photo: Shutterstock
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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The top brands on the list include liquor distillers Kwei­chow Moutai (pictured) and Wuliangye Yibin. Photo: Simon Song
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.

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.

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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A Luckin Coffee employee prepares baijiu-flavoured latte, the latest product in collaboration with Chinese liquor brand Kweichow Moutai, at a Luckin Coffee shop in Beijing on September 4. The coffee company has launched the beverage containing extracts of the popular Chinese distilled liquor, causing a rush in stores and enthusiasm on social media. Photo: AFP
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.

The Tencent headquarters in Shenzhen. The firm’s stock slumped by 14 per cent in the second quarter. Photo: Bloomberg
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.

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.

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