Kweichow Moutai told investors on Aug. 21 it has addressed market concerns about
a reported rise in revenue alongside a decline in net profit and a year-on-year
drop in Q2. Chairman Chen Hua said the industry remains in deep adjustment but
the company’s market-oriented reforms, launched and implemented in an orderly
way, have kept overall sales stable and the core pricing structure intact. Sales
volumes of Kweichow Moutai and its sauce-aroma series rose, producing
stable-to-slight growth in operating revenue and, the company said, evidence
that reform and transformation are delivering as expected. Kweichow Moutai cited
a 10-year net margin range of 44.65–51.49% (mean 49.57%); H1 2026 net margin was
49.89%, which the company described as a reasonable level.
