SOURCE / COMPANIES
Kweichow Moutai shares touched all-time peak despite distillery’s potential exposure to confirmed COVID-19 case
Published: Jan 12, 2021 12:59 PM

A bottle of Kweichow Moutai Photo: VCG


 
Kweichow Moutai shares touched an all-time peak during Tuesday’s morning session, despite news of a distillery’s potential exposure to a confirmed COVID-19 case.

A 46-year-old female from Gaocheng district in Shijiazhuang, North China’s Hebei Province, a confirmed coronavirus infection, was found to have driven a truck to Zunyi, Southwest China's Guizhou Province where she made deliveries on January 4 before moving on to unload shipments at a Moutai distillery in Renhuai, Guizhou in the same day, the local health authorities revealed on Tuesday.

The Chinese distiller, the world’s most valuable liquor brand, said it has just received information regarding the case and is conducting an internal investigation, Chinese financial news site cls.cn reported Tuesday morning, citing an unidentified insider with the company. The impact on Moutai’s production and operations is yet to be evaluated. 

The listed arm is not involved in production and is not aware of the situation for the moment, Chinese news site jiu.china.com reported Tuesday, citing a reply from Moutai’s secretary of the board.

The Shanghai-listed distiller saw its shares scale an all-time high of 2,160.16 yuan ($333.82) intraday on Tuesday. Its stock was up 2.12 percent at 2,144.16 yuan at the end of the morning session.

Buoyed by Moutai’s gains, the liquor sector gained 2.75 percent during the morning session, outperforming a gain of 0.8 percent in the benchmark Shanghai Composite Index.


Global Times 

blog comments powered by Disqus