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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.
Zhang Kun, star investor at E Fund Management, is betting on a rebound in the consumer sector. Photo: Handout
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

Xi Jinping's anti-corruption campaign

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

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’s high-powered liquor stocks are often seen as a litmus for other sectors, in particular property. Photo: Xinhua
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.

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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.

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
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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.

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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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.

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