Distillers and Vintners

Kweichow Moutai

Financial Analysis

600519

000858

600109

<p>On the evening of October 29th Beijing time, <span class="security-tag" type="security-tag" counter_id="ST/SH/600519" name="Moutai" trend="">$Moutai(600519.SH)</span> released its Q3 2025 performance. Despite the &#34;alcohol ban&#34; and continued weak demand, it still achieved positive growth. The key points are as follows: 1. Overall performance achieved positive growth: In 3Q25, Moutai achieved a total revenue of 39.81 billion yuan, an increase of 0.3% year-on-year, which was below market expectations (market expectations were 42.5 billion yuan). The core issue is that market expectations were mainly based on a linear extrapolation of the growth rate from the previous quarter, underestimating the determination of liquor companies to release channel pressure...</p>

Moutai

SINOLINK SECURITIES

Kweichow Moutai: Channel Burden Relief, Awaiting Cycle Reversal Drama

WLY released FY2025 Q3 earnings on October 30 After-Market (BJT), actual revenue CNY 8.174 B (forecast CNY 14.75 B), actual EPS CNY 0.5202 (forecast CNY 1.4562)

WLY released FY2025 9 Months earnings on October 30 After-Market (BJT), actual revenue CNY 60.95 B, actual EPS CNY 5.5416

WLY to Release FY2025 Q3 Earnings on October 31 After-Market (BJT), Forecast Revenue CNY 15.71 B, EPS CNY 1.4562

WLY released FY2025 Q2 earnings on August 27 During-Market (BJT), actual revenue CNY 15.83 B (forecast CNY 15.34 B), actual EPS CNY 0 (forecast CNY 1.205)

WLY released FY2025 Semi-Annual Earnings on August 27 During-Market (BJT), Actual Revenue CNY 52.77 B, Actual EPS CNY 5.0216

WLY to Release FY2025 Semi-Annual Earnings on August 28, 2025 (BJT)

Wuliangye Launches Chinese Five-Grain Craft Beer

Baijiu Companies Accelerate Overseas Expansion

Wuliangye's Revenue Growth Slows Down

Multiple Baijiu Companies Launch Low-Degree New Products

Wuliangye Group's Parent Increases Shareholding

Wuliangye Announces 2024 Dividend Distribution Plan

Wuliangye and Siemens sign strategic cooperation agreement

Multiple Leading Baijiu Companies Launch Low-Strength Products to Adapt to Market Changes

Wuliangye Granted New Wine Box Design Patent

Wuliangye Announces 'Marketing Execution Improvement Year' Strategy for 2025

Wuliangye's Shareholder Meeting Upholds Price Strategy at Thousand Yuan Level

Wuliangye Holds 2024 Annual General Meeting

Wuliangye Registers New Software Copyright for Liquor Component Analysis

Wuliangye CEO Analyzes Baijiu Consumption Trends

Ordinary dividend (cash)

Ex Date: 2025.12.18, Cash dividend 2.578 CNY

SHANXI FEN WINE

JINHUI

LZLJ

Yanghe

Gu Jing

King’s Luck

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