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BUSINESS & TECH

World Biggest Liquor-Maker’s Stock Jumps on Price Hike Buzz

After Thursday’s announcement, Kweichow Moutai’s Shanghai-listed shares surged, reaching a record high of 726.50 yuan ($111) per share on Friday, before falling slightly by midday. Photo: Visual China
After Thursday’s announcement, Kweichow Moutai’s Shanghai-listed shares surged, reaching a record high of 726.50 yuan ($111) per share on Friday, before falling slightly by midday. Photo: Visual China

Kweichow Moutai, the world’s largest spirits maker, has announced its first factory-gate price hikes in more five years, sending its share price rocketing to a record high Friday morning.

State-owned Moutai will increase factory-gate prices across its line of “baijiu” products by 9% to 25%, the company’s chairman Yuan Renguo said at a meeting on Thursday.

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