At a Nov. 10 Q3 2026 results briefing, Wang Li, acting general manager of Kweichow Moutai, said production of 2027 xia sha is complete and, following a comprehensive evaluation, the company has not added any Moutai base-liquor capacity. The company said it will continue to assess supply-side carrying capacity, craftsman training and base-liquor inventories, and coordinate project construction and capacity release with market demand to maintain a dynamic supply–demand balance.

Israel's defense minister said a war with Iran may be unpopular but is necessary; he noted that even Trump has said the same.

At a Q3 2026 earnings briefing, Wang Li, acting general manager, said Kweichow Moutai is shifting to a consumer‑centred, demand‑driven distribution model and abandoning channel stockpiling via prepayments. Self‑operated channels now reach consumers directly and some social‑channel SKUs are sold on consignment (ownership not transferred), both of which do not generate advance receipts. The company has implemented a dynamic allocation model that assigns product by region and dealer based on sell‑through and inventory, and collects payment only immediately before allocation to preserve channel health. As market‑driven operations deepen, industry prepayment practices no longer reflect end‑consumer demand; advance‑receipt balances should not be treated as a primary supply‑demand indicator.