Kweichow Moutai stock trades at CNY 1,243.88 as profits slip

Published on 09/28/2026 at 14:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kweichow Moutai stock traded at CNY 1,243.88 on September 28, 2026, while first-half revenue rose 1.47 percent. Net profit fell 1.95 percent to CNY 44.517 billion.

Kweichow Moutai, CNE0000018R8, Illustration mit AI erstellt.

Kweichow Moutai (ISIN CNE0000018R8) was trading at CNY 1,243.88 on the Shanghai Stock Exchange on September 28, 2026, up 0.56 percent from the previous close. The latest operating picture is more mixed: first-half revenue increased, but profit declined.

Revenue grows as profit declines

According to Futunn in its coverage of the August 15, 2026 semi-annual report, Kweichow Moutai generated operating revenue of CNY 90.703 billion in the first half of 2026, up 1.47 percent year over year. Net profit attributable to shareholders fell 1.95 percent to CNY 44.517 billion, while basic earnings per share declined 1.68 percent to CNY 3.557.

The quarterly split shows where the pressure emerged. According to Futunn on September 18, 2026, second-quarter revenue was CNY 37.575 billion, down 5.23 percent year over year, while net profit attributable to shareholders fell 6.90 percent to CNY 17.274 billion. First-quarter revenue had risen 6.34 percent and profit had increased 1.47 percent, creating a clear contrast between the two periods.

Pricing becomes a strategic lever

Kweichow Moutai is also changing how it manages its sales channels. On September 8, 2026, the company raised the suggested retail price of 500ml Feitian Moutai at its self-operated stores to CNY 1,766, according to Futunn. The price was 8 percent above the CNY 1,639 retail price on the i-Moutai platform, while five products rose and two products were reduced across 43 self-operated stores.

That move matters because price increases have yet to translate into stronger first-half earnings. The same report said Maotai liquor revenue reached CNY 77.724 billion, up 2.82 percent, while series liquor revenue dropped 6.02 percent to CNY 12.934 billion. For investors, the key test is whether direct-channel pricing can offset weaker performance in the broader product portfolio.

Analysts retain a positive view

Investing.com lists CLSA with a Buy rating and a CNY 1,597.00 price target dated September 3, 2026, while its analyst table shows an average 12-month target of CNY 1,694.19, according to Investing.com. The positive targets contrast with the earnings trend, which places greater weight on channel execution and demand during the second half of the year.

Stock trades near its yearly range

Kweichow Moutai last traded at CNY 1,243.88 on September 28, 2026 at 3:00 p.m. CST on the Shanghai Stock Exchange. Its 52-week range was CNY 1,151.01 to CNY 1,568.00, and its market capitalization stood at CNY 1.6 trillion.