Kweichow Moutai Co Ltd Class A

600519: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Premium Baijiu Earnings: Moutai Back on Track, While Laojiao Struggles; Moutai Remains Top Pick

Jennifer Song

Nov 2, 2026

Third-quarter results across our premium baijiu coverage diverged. Kweichow Moutai returned to growth, with net profit rising 4% year on year, while Luzhou Laojiao's earnings deteriorated further as net profit plunged 57%.

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Kweichow Moutai Co Ltd Class A

Premium Baijiu Earnings: Moutai Back on Track, While Laojiao Struggles; Moutai Remains Top Pick

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