Kweichow Moutai stock reports weaker Q2 profit as prices rise

Published on 09/25/2026 at 13:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kweichow Moutai stock posted CNY 92.278 billion in first-half revenue on September 18, 2026, up 1.30 percent year over year. Net profit fell 1.95 percent as pricing reforms advanced.

Kweichow Moutai, CNE0000018R8, Illustration mit AI erstellt.

Kweichow Moutai stock (ISIN CNE0000018R8) stood at CNY 1,237 on the Shanghai Stock Exchange on September 24, 2026, down CNY 14.24 or 1.14 percent from the prior close. The latest half-year figures show a mixed picture: revenue grew, while profit declined.

Revenue grows while profit slips

According to Futunn on September 18, 2026, Kweichow Moutai generated CNY 92.278 billion in operating revenue during the first half of 2026, an increase of 1.30 percent year over year. Net profit attributable to shareholders fell 1.95 percent to CNY 44.517 billion, making the profit trend weaker than the top line.

The second quarter was more difficult. Revenue declined 5.23 percent year over year to CNY 37.575 billion, while net profit attributable to shareholders fell 6.90 percent to CNY 17.274 billion, according to Futunn.

Pricing reform carries the story

The company is trying to defend its premium positioning through a more flexible sales model. A report published by Futunn states that the July 2026 adjustment raised the iMoutai retail price from CNY 1,539 to CNY 1,639 and lifted the sales contract price from CNY 1,269 to CNY 1,369.

That strategy is visible in the channel mix. Feitian liquor revenue reached CNY 77.724 billion in the first half, up 2.82 percent, while series-style liquor revenue fell 6.02 percent to CNY 12.934 billion. The contrast suggests that the core brand is absorbing pressure better than the wider portfolio.

Analyst conviction meets a weaker chart

Futunn reported on September 18, 2026, that Chengtong Securities maintained a Strong Buy rating and forecast operating revenue of CNY 173.6 billion for 2026, with growth of 0.90 percent. The forecast points to steady expansion rather than a rapid recovery.

The market is pricing in that slower path. At CNY 1,237, the share price was 21.11 percent below its 52-week high of CNY 1,568 and 7.46 percent above its 52-week low of CNY 1,151.01 on September 24, 2026. Market capitalization stood at CNY 1,545,158,439,038, with trading volume of 3,123,935 shares.

Stock stays below its yearly high

Kweichow Moutai stock stood at CNY 1,237 on the Shanghai Stock Exchange on September 24, 2026, at 3:00 p.m. CST. The 1.14 percent daily decline contrasts with the longer-term investment case built on pricing power, but the first-half profit decline keeps execution central to the valuation.