SOURCE / ECONOMY
Kweichou Moutai’s performance exceeds expectations in 2020
Published: Feb 28, 2021 05:03 PM

A bottle of Kweichow Moutai Photo: VCG

A bottle of Kweichow Moutai Photo: VCG

Chinese liquor giant Kweichow Moutai's operating income exceeded 114 billion yuan ($17.66 billion) as the total profit increased by 18.2 percent in 2020. The stock price increased by more than 57 percent and the market value increased by 827.6 billion yuan ($1277.38) last year. 

Kweichow Moutai's operating income increased by 13.7 percent to 114.041 billion yuan and the total profit increased by 18.2 percent to 54.372 billion yuan in 2020, exceeding the yearly expectations, as reported by Guizhou Daily. 

The company has not been able to take a break from the public's attention since February, with its stock price continuously dropping in the past week.

Several of China's blue-chip stocks, including Kweichow Moutai, plunged last Monday after days of hefty rises before the Spring Festival. Kweichow Moutai's opening price last Monday was 2,455 yuan per share, and the opening price on Friday dived to 2,100 yuan per share following the sharp drop. 

Meanwhile, the company has been facing questions from netizens recently due to its chief engineer Wang Li being on the shortlist for China's 2021 academicians. Since other candidates usually come from an academic background, the rationale for this nomination was questioned by some Chinese netizens.  

Global Times




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