Kweichow Moutai Co., Ltd. – 2026 First‑Half Financial Highlights
Company Profile
- Ticker: 600519.SH (Shanghai Stock Exchange)
- Sector: Consumer Staples – Beverages
- Currency: CNY
- Close Price (2026‑08‑13): 1,341.99 CNY
- 52‑Week Range: 1,151.01 – 1,568.00 CNY
- Price‑to‑Earnings Ratio: 20.34
Kweichow Moutai is a leading producer and marketer of spirits, best known for its flagship product, Moutai. The company’s operations span domestic and international markets and it is listed on the Shanghai Stock Exchange.
2026 First‑Half Report Summary
| Item | 2026 H1 | YoY Change |
|---|---|---|
| Total revenue | 92,278 million CNY | +1.3 % |
| Operating revenue (Moutai group) | 90,703 million CNY | +1.47 % |
| Net profit attributable to shareholders | 44,517 million CNY | –1.95 % |
| Net profit excluding non‑recurring items | 44,464 million CNY | –2.04 % |
The company’s earnings per share (basic) were 35.57 CNY. Revenue growth was driven largely by volume increases in Moutai and its sauce‑flavored series, with Moutai wine contributing 77.724 billion CNY and sauce‑flavored series adding 12.934 billion CNY to total sales.
Shareholding Dynamics
During the reporting period, two institutional shareholders, Central Huijin and Zhengjin, exited the top‑ten shareholder list after holding 0.83 % and 0.32 % of shares, respectively. Conversely, China Life Insurance increased its stake by over 2.91 million shares, bringing its total holdings to more than 5.58 million shares.
Market Context
The first‑half performance was released amid a broader A‑share reporting surge, with more than 300 companies filing results by 8 pm on 14 August. The stock closed at 1,355.29 CNY on 13 August, up 0.92 % from the previous day. The consumer staples sector, particularly the liquor segment, remained a focus for long‑term investors, including social‑security and pension funds.
Key Takeaways
- Revenue growth was modest but positive, reflecting steady demand for the company’s premium spirits.
- Profitability declined by nearly 2 % year‑on‑year, mainly due to pricing and channel adjustments.
- Shareholder composition changed, with a notable exit of two institutional investors and a significant stake increase by China Life Insurance.
- Market sentiment remained supportive, as evidenced by the stock’s upward movement and the sector’s resilience in the context of overall market activity.
These results provide a snapshot of Kweichow Moutai’s financial health and shareholder landscape as of the end of the first half of 2026.
