Critics Hurl Fire Water at Popular Distiller

(Beijing) – A profitable Chinese spirits company, Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., is again fighting to defend its image as questions mount over business practices and the timing of a share repurchase arrangement.

Yanghe's plan to buy back shares over the next two or three years was announced October 18 – less than 20 days before the end of a lock-up on 34.8 percent of company shares worth more than 40 billion yuan.