Kweichow Moutai Gains After Increase in Ex-Factory Prices of Some Products

Dow Jones2023-11-01

By Jiahui Huang

Kweichow Moutai's shares jumped after the Chinese liquor maker said it will raise the ex-factory prices of some products.

Its Shanghai-listed shares were up 6.5% at 1,793.47 yuan ($245.14) early Wednesday, on track for their biggest one-day percentage rise since November 2022. Shares were up 4.0% on year.

Other baijiu, or Chinese liquor, stocks also advanced on the Chinese mainland stock exchanges. Wuliangye Yibin was up 2.9% and Shanxi Xinghuacun Fen Wine Factory gained 2.4%.

The upswing came after Kweichow Moutai, one of China's largest liquor makers, said late Tuesday that it will increase the ex-factory prices of its products with 53% alcohol by an average 20%. Ex-factory prices are the prices of products before they leave the factory.

"The adjustment does not involve the market guidance price of the company's products," the company said in a stock exchange filing.

Earlier last month, Kweichow Moutai posted a 16% on-year rise in net profit for the third quarter, driven by strong revenue growth.

The liquor maker's year-to-date revenue is at CNY103.27 billion, up 18% on year, marking the first time its nine-month revenue has surpassed CNY100 billion.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

October 31, 2023 23:20 ET (03:20 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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Shares were up 4.0% on year. \n\n\n  Other baijiu, or Chinese liquor, stocks also advanced on the Chinese mainland stock exchanges. Wuliangye Yibin was up 2.9% and Shanxi Xinghuacun Fen Wine Factory gained 2.4%. \n\n\n  The upswing came after Kweichow Moutai, one of China's largest liquor makers, said late Tuesday that it will increase the ex-factory prices of its products with 53% alcohol by an average 20%. Ex-factory prices are the prices of products before they leave the factory. \n\n\n  \"The adjustment does not involve the market guidance price of the company's products,\" the company said in a stock exchange filing. \n\n\n  Earlier last month, Kweichow Moutai posted a 16% on-year rise in net profit for the third quarter, driven by strong revenue growth. \n\n\n  The liquor maker's year-to-date revenue is at CNY103.27 billion, up 18% on year, marking the first time its nine-month revenue has surpassed CNY100 billion. \n\n\n \n\n\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 31, 2023 23:20 ET (03:20 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2380526689"}