Chinese producer of premium baijiu spirits, led by the Moutai brand, with domestic and international distribution.
Profile & Fundamentals
Kweichow Moutai: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Kweichow Moutai Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Kweichow Moutai Co., Ltd., together with its subsidiaries, produces and sells liquor products in China and internationally. The company offers liquor and soy sauce products under the Kweichow Moutai, Moutai Wangzi liquor, Moutai 1935 liquor, Han Jiang liquor, and Lai Mao liquor brands. It also engages in the production and sale of beverage, food, and packaging materials; development of anti-counterfeiting technology; research and development of information industry related products; operation and management of hotel, accommodation, catering, entertainment, bathing, and parking lot services; and provision of vehicle transportation and maintenance, and value-added telecommunication services. The company was incorporated in 1999 and is headquartered in Renhuai, China. Kweichow Moutai Co., Ltd. operates as a subsidiary of China Kweichow Moutai Distillery(Group)Co,.Ltd.
Company profile record
Kweichow Moutai Co Ltd
Common Stock · Consumer Staples · Distillers & Vintners
Company
- Company / asset
- Kweichow Moutai Co Ltd
- Security type
- Common Stock
- Sector
- Consumer Staples
- Industry
- Distillers & Vintners
- HQ
- 🇨🇳 China
- Head office
- Maotai Town, Renhuai, China, 564501
Leadership & scale
- Full-time employees
- 35K
- Fiscal year end
- December
- IPO date
- 2001-07-31
Fundamentals snapshot
- Market Cap
- CNY 1.58T
- P/E
- 19.4x
- Revenue (Q2 26)
- CNY 37.6B
- Profit (Q2 26)
- CNY 17.3B
- Dividend Yield
- 3.7%
- Revenue (FY 25)
- CNY 172.1B
- Shares in public float
- 540.9M
- Insider ownership
- 62.4%
Reporting & identifiers
- Symbol
- 600519.SHG
- Listing
- 🇨🇳 China | Dividend Tax: 10%
- Ticker Currency
- CNY
- Income Statement Currency
- CNY
- Balance Sheet Currency
- CNY
- Cash Flow Currency
- CNY
- EPS Currency
- CNY
- Contract Type
- SPOT
- ISIN
- CNE0000018R8
- Asset ID
- equity_08b70166-f62c-50b3-90fb-bd51b927cf7d
Ownership
Shares Outstanding
Latest: 1.3B | Max: 1.3B | Min: 1.3B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
43.18%
540.9M latest reported shares
Insider Ownership
62.40%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2016-01-01 | 1,254,469,400 |
| 2017-01-01 | 1,255,832,800 |
| 2018-01-01 | 1,257,055,900 |
| 2019-01-01 | 1,256,014,100 |
| 2020-01-01 | 1,256,929,300 |
| 2021-01-01 | 1,256,851,900 |
| 2022-01-01 | 1,256,197,800 |
| 2023-01-01 | 1,256,197,800 |
| 2024-01-01 | 1,256,197,800 |
| 2025-01-01 | 1,252,746,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's financial results show a shift from rapid expansion into a deliberate operational stabilization. In fiscal 2025, revenue contracted by 1.2% to 172 billion CNY and net income declined 4.5% to 82.3 billion CNY, marking the first annual contraction since the company's 2001 public listing. This slowdown was caused by real estate weakness and cautious distributor ordering. However, underlying earnings power remains remarkably sturdy. During the first half of 2026, direct sales on the company's digital app surged over 200%, helping revenue stabilize at 90.7 billion CNY. Because the business captures retail margins directly from consumers, recurring net profits remain near 48%, proving that core earning power remains secure despite slower industry volume.
The company's financial results show a shift from rapid expansion into a deliberate operational stabilization. In fiscal 2025, revenue contracted by 1.2% to 172 billion CNY and net income declined 4.5% to 82.3 billion CNY, marking the first annual contraction since the company's 2001 public listing. This slowdown was caused by real estate weakness and cautious distributor ordering. However, underlying earnings power remains remarkably sturdy. During the first half of 2026, direct sales on the company's digital app surged over 200%, helping revenue stabilize at 90.7 billion CNY. Because the business captures retail margins directly from consumers, recurring net profits remain near 48%, proving that core earning power remains secure despite slower industry volume.
Revenue, Net Income, and Free Cash Flow
Latest: CNY 172.1B | Max: CNY 174.1B | Min: CNY 16.7B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 21x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability remains among the highest of any enterprise globally. Gross profit margins stood at 91.3% in fiscal 2025 and 90.3% in the first half of 2026, demonstrating that raw grain and packaging costs represent only a tiny fraction of the final bottle price. While operating margins softened slightly from historical highs of 79% down to 66% due to direct-selling logistics and marketing expenses, net profit margins held firm at 47.8%. Raising factory contract prices to 1,369 CNY and expanding direct online sales provides structural support, ensuring return on equity remains above 30% through the cycle.
Profitability remains among the highest of any enterprise globally. Gross profit margins stood at 91.3% in fiscal 2025 and 90.3% in the first half of 2026, demonstrating that raw grain and packaging costs represent only a tiny fraction of the final bottle price. While operating margins softened slightly from historical highs of 79% down to 66% due to direct-selling logistics and marketing expenses, net profit margins held firm at 47.8%. Raising factory contract prices to 1,369 CNY and expanding direct online sales provides structural support, ensuring return on equity remains above 30% through the cycle.
Profitability Margins
Latest: 91.3% | Max: 92.1% | Min: 47.8%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
91.3%
Gross profit / revenue
Operating Margin
66.3%
Operating income / revenue
Net Margin
47.8%
Net income / revenue
FCF Margin
33.9%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 4,841,173,822.88 | 2,405,519,817.84 | 5,242,024,677.7 |
| 2017-12-31 | 8,088,869,738.86 | 4,159,655,953.15 | 3,230,110,428.73 |
| 2018-12-31 | 9,580,008,284.88 | 5,116,805,997.53 | 5,781,756,421.37 |
| 2019-12-31 | 10,936,931,752.87 | 5,920,469,973.28 | 6,043,354,593.39 |
| 2020-12-31 | 12,880,049,464.01 | 7,151,192,255.59 | 7,592,541,989.89 |
| 2021-12-31 | 14,805,001,415.09 | 8,248,450,373.9 | 9,531,429,499.06 |
| 2022-12-31 | 15,805,527,681.16 | 9,089,488,097.1 | 4,549,572,378.7 |
| 2023-12-31 | 18,074,106,197.18 | 10,525,925,570.42 | 9,010,350,962.25 |
| 2024-12-31 | 23,855,352,054.79 | 11,812,074,794.52 | 12,025,339,726.03 |
| 2025-12-31 | 24,614,330,742.62 | 11,776,833,634 | 8,354,021,469.66 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 20.96 | Trailing four quarters |
| 2024-12-31 | 22.2 | Trailing four quarters |
| 2023-12-31 | 29.01 | Trailing four quarters |
| 2022-12-31 | 34.59 | Annual net income |
| 2021-12-31 | 49.11 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 88.52 | 72.02 | 49.69 | 108.28 |
| 2017-12-31 | 87.66 | 73.84 | 51.42 | 39.93 |
| 2018-12-31 | 89.25 | 77.88 | 53.41 | 60.35 |
| 2019-12-31 | 89.47 | 77.57 | 54.13 | 55.26 |
| 2020-12-31 | 89.59 | 78.93 | 55.52 | 58.95 |
| 2021-12-31 | 89.72 | 78.31 | 55.71 | 64.38 |
| 2022-12-31 | 90.03 | 79.22 | 57.51 | 28.78 |
| 2023-12-31 | 90.02 | 79.37 | 58.24 | 49.85 |
| 2024-12-31 | 92.08 | 68.73 | 49.52 | 50.41 |
| 2025-12-31 | 91.34 | 66.3 | 47.85 | 33.94 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-06.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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