Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Did Sichuan Forget to Tell Chongqing About Their Joint Olympic Bid?
Alibaba’s Healthcare Unit Finds Tonic for Profits
Trending in China: Beijing Tackles Parking Shortage With Shared Spaces
Chinese Wireless Telecoms Operators Join Forces to Build 5G Base Stations to Reduce Costs
Ruhnn, Another U.S.-Listed Chinese Company Looks to Go Private
Unicorns surge to 500 in number as US and China account for 70%
Trending in China: Social Media Comes Out in Support of High Quality Fakes
Xiaomi-Backed IoT-Enabled Appliance Maker Sees Revenues Grow While Profits Slump
Chinese Startup WeRide Reports Promising Robotaxi Results
Trending in China: God recalls his hand – tributes to Maradona from Chinese social media after his death
Tesla to Manufacture Electric Car Chargers in China
China Restricts Livestreaming Spending and Blocks Underage Users from Tipping Performers
TikTok Granted One-Week Extension of Forced-Sale Deadline
Chinese Online Language Educator 51Talk Speaks the Language of Profit
Trending in China: Are Elderly ‘Collateral Damage’ in Increasing Technological Cashless World?
Trending in China: Black and White ‘Little Miracle’ Born to 22-Year-Old Panda in Washington
Facing U.S. Sanctions, Huawei May See Global Smartphone Share Slump to 4% in 2021
Chinese LGBTQ Dating App Owner BlueCity Acquires Youth-Focused Gay Platform Finka
Xiaomi-Backed Smart Wearables Maker Huami Sees Profits Slump Despite Revenue Growth
Baidu Maps Illegally Using Other Chinese Firm’s Mapping Info, Court Finds.
Already World’s Most Valuable Liquor-Maker, Moutai Stock Hits Record High

By Teng Jing Xuan and Shen Xinyue / Mar 29, 2019 12:37 PM / Business & Tech

Photo: VCG

Photo: VCG

Top Chinese liquor brand Kweichow Moutai’s Shanghai-listed stocks closed at a record high of 861 yuan ($128.04) at midday Friday, after opening up 3.5% at 835 yuan. The company reported strong profit growth in its 2018 earnings report Thursday night.

Net profit grew 30% year-on-year to 35.2 billion yuan for Moutai in 2018, with the fourth quarter in particular seeing a 47.57% year-on-year increase in net profit. Operating revenue for the entire year was 73.6 billion yuan, up 26.49% from the previous year.

Moutai, which surpassed the UK’s Diageo to become the world’s most valuable liquor stock in April 2017, confirmed on Thursday that it had reduced the total number of its dealers in the country last year. The streamlining is part of a longer-term effort to stabilize supply and price of the company’s signature baijiu liquor, as well as to recover from a 2013 slump in demand caused by anti-corruption crackdowns.

Related: Moutai Investors Ride Roller Coaster With Baijiu Maker

Share this article
Open WeChat and scan the QR code