Kweichow Moutai Co Ltd Class A

600519: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Baijiu Sales Remain Sluggish Ahead of Lunar New Year, but Premium Demand Shows Improvement

Jennifer Song

Feb 11, 2026

Our channel checks continue to indicate persistent weakness in baijiu demand, with the sector facing double-digit revenue declines ahead of the Lunar New Year holiday. However, performance varies across segments—premium baijiu, led by Moutai, is showing signs of modest demand improvement.

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Kweichow Moutai Co Ltd Class A

Baijiu Sales Remain Sluggish Ahead of Lunar New Year, but Premium Demand Shows Improvement

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