SHA:600519

Kweichow Moutai Renews Trademark Pact With Controlling Shareholder

Kweichow Moutai (SHA:600519) plans to renew its trademark licensing agreement with its controlling shareholder, China Kweichow Moutai Distillery (Group), for three more years, according to a Shanghai bourse filing on Friday.The deal covers 106 registered trademarks, including Kweichow Moutai, Guizhou and Moutai.The agreed-upon royalty rate will remain anchored at 1.5%. The deal's royalty fee will include the annual sales revenue of liquor products sold by the company.The original contract, which was signed in 2022, will expire on Dec. 31. The renewed contract will be valid from Jan. 1, 2027 to Dec. 31, 2029, the Chinese alcoholic beverage manufacturer said.

Jefferies Adjusts Kweichow Moutai's Price Target to 2,100 Yuan from 2,300 Yuan, Keeps at Buy

Kweichow Moutai's Q1 Profit Edges Up as Revenue Grows 6.5%

Kweichow Moutai's (SHA:600519) attributable profit edged up 1.5% to 27.2 billion yuan in the first quarter from 26.8 billion yuan in the year-ago period, according to a Saturday filing with the Shanghai Stock Exchange.Earnings per share at the Baijiu wine manufacturer increased to 21.76 yuan from 21.38 yuan in the prior-year period.Operating revenue grew 6.5% year over year to 53.9 billion yuan from 50.6 billion yuan, in line with forecasts from Huachuang Securities.Of the figure, its Moutai-branded liquor reached 46 billion yuan, up 5.6% year over year, while its other series brands saw sales of 7.88 billion yuan, up 12% during the period.Direct selling revenue grew 27% to 29.5 billion yuan, while wholesale agent sales slid 11% year over year to 24.4 billion yuan.Its Moutai 1935 and Wangzi products gained market share due to a boost in promotions and sales, Huachuang said in its note.For its part, Jefferies forecasts the company will grow its market share in the premium baijiu segment due to online and offline integration and distributor incentives.Total operating costs rose to 17.2 billion yuan from 14.4 billion yuan in the prior-year period.Tax expenses jumped to 8.23 billion yuan from 7.16 billion yuan, the filing said.The gross margin slid 2.2 percentage points year over year due to lower prices on high-value-added products at the start of the year as well as a decline in shipments, Huachuang said in its note.Meanwhile, Kweichou Moutai's results indicate stabilizing demand for luxury goods in China, Jefferies said in a note Monday.A rebound in retail sales over the past four to six months could indicate a return to positive sales, the investment bank said in its note.For 2026, Jefferies forecasts earnings per share to slide 7% year over year to 72.56 yuan, while revenue could fall 6% year over year to 186.2 billion yuan.

Kweichow Moutai's Q1 Profit Rises 1.5%, Revenue Up 6.5%

Kweichow Moutai (SHA:600519) posted a 1.47% year-over-year increase in attributable net profit in the first quarter of 2026 to 27.2 billion yuan from 26.8 billion yuan, according to a Shanghai Stock Exchange filing over the weekend.Earnings per share edged up to 21.76 yuan from 21.38 yuan.Revenue jumped 6.5% to 53.9 billion yuan from 50.6 billion yuan.

Kweichow Moutai 2025 Profit Down 5%; Shares Slide 4%

Kweichow Moutai (SHA:600519) posted 2025 attributable net profit of 82.3 billion yuan, down 4.5% from 86.2 billion yuan the previous year.Earnings per share declined to 65.66 yuan from 68.64 yuan, according to a filing with the Shanghai bourse.Operating revenue slipped 1.2% year over year to 168.8 billion yuan from 170.9 billion yuan.Shares of the alcoholic beverage manufacturer decreased 4% in recent trade.