21 August 2019

Moutai confirms plans to restructure business, paper says

Kweichow Moutai Co. Ltd. (600519.CN) confirmed media reports that it has been planning to reform the company as part of the government’s broader plan to diversify shareholding in state-owned enterprises, according to a regulatory filing on Thursday. The liquor maker, however, stressed that details of the reform plan reported by media were just part of the initial discussions, and nothing has been finalized yet. China Securities Journal reported Tuesday that the business will be hived off into supply, production and sales, which will operate independently from one another and that the sales target for 2017 was set at hundreds of billions of yuan.

– Contact HKEJ at [email protected]




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