{"id":7957,"date":"2023-11-01T07:20:07","date_gmt":"2023-11-01T07:20:07","guid":{"rendered":"https:\/\/infundpros.com\/business\/moutai-shares-jump-after-chinese-liquor-maker-raises-prices\/"},"modified":"2023-11-01T07:20:07","modified_gmt":"2023-11-01T07:20:07","slug":"moutai-shares-jump-after-chinese-liquor-maker-raises-prices","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7957","title":{"rendered":"Moutai shares jump after Chinese liquor maker raises prices"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=b0e123c3-74a4-4d30-bfc0-1080250aa693\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Shares in Kweichow Moutai, one of China\u2019s most valuable businesses and whose premium spirit is sold for about $200 a half-litre bottle, jumped 6 per cent on Wednesday after it raised distributor prices for the first time in six years.<\/p>\n<p>The company, which is synonymous with the strong grain-based liquor known as <em>baijiu<\/em> that was a favourite of the People\u2019s Republic founder Mao Zedong, announced a 20 per cent increase in the price of its flagship product to Rmb1,169 ($160).<\/p>\n<p>Steeped in domestic folklore and widely seen as a proxy for China\u2019s vast consumer market, Moutai\u2019s drink is a fixture at toasts in official and informal gatherings across the country and has helped the company emerge over the past decade as the world\u2019s most valuable alcohol producer.<\/p>\n<p>Its market capitalisation of more than Rmb2tn is the second highest in China, behind tech group Tencent, and it has for years been a core component of foreign exposure to the country.<\/p>\n<p>The unexpected move, which is aimed at distributors rather than retail customers, was rare positive news for the domestic stock market, which has struggled to gain traction this year. Disappointing economic data, alongside worsening geopolitical relations with the US, have weighed heavily on sentiment.<\/p>\n<p>The CSI 300 index of Shanghai- and Shenzhen-listed stocks is down more than 8 per cent so far this year, while a widely anticipated consumer rebound from the end of Covid-19 restrictions in January has failed fully to materialise.<\/p>\n<p>Analysts at Citi said the move meant Moutai was \u201ctaking back some of distributors\u2019 lucrative profits\u2009.\u2009.\u2009.\u2009for the benefit of shareholders\u201d, resulting in \u201csignificantly increased profit growth in 2024\u201d. They added that Moutai was a \u201ccore holding\u201d in China\u2019s consumer sector amid what they described as an \u201cuncertain macro environment\u201d.<\/p>\n<p>Andy Maynard, managing director at China Renaissance Securities, a brokerage in Hong Kong, said foreign holdings of the stock had fallen significantly compared with two years ago, when its value peaked at Rmb2.6tn, and pointed to \u201cstark differences\u201d in sentiment.<\/p>\n<p>\u201cThe majority of foreigners that run global money, it still won\u2019t be a big enough catalyst for them to come back and enter because the negative macro picture of China Inc is too big relative to the rest of the world,\u201d he said of Moutai\u2019s price increase.<\/p>\n<p>Recent economic data in China showed retail sales rose 5.5 per cent year on year in the third quarter, beating expectations. The Chinese economy slipped into deflationary territory in July, and consumer prices remained flat year on year in September.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/b0e123c3-74a4-4d30-bfc0-1080250aa693\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-7957","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Moutai shares jump after Chinese liquor maker raises prices | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in Kweichow Moutai, one\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=7957\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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