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Interface News Reporter | Tao Zhixian

Interface News Reporter | Tao Zhixian

On the evening of August 8, Kweichow Moutai (600519.SH) released its semi-annual report, with operating income of 83.451 billion yuan in the first half of 2024, a year-on-year increase of 17.56%; and attributable net profit of 41.696 billion yuan, a year-on-year increase of 15.88%. In terms of a single quarter, the company achieved revenue of 36.966 billion yuan in the second quarter, a year-on-year increase of 16.95%; attributable net profit of 17.63 billion yuan, a year-on-year increase of 16.1%.

Kweichow Moutai's performance was in line with market expectations. Previously, the market expected Kweichow Moutai's revenue to grow by about 15%, and this 17.56% revenue growth laid the foundation for achieving the full-year target.

Kweichow Moutai responded to previous market doubts with its achievements.In the first half of this year, the liquor industry was generally under pressure and fierce competition. The market was somewhat concerned about whether Moutai, with a market value of hundreds of billions, could achieve an annual growth of 15%. At the end of July, a foreign brokerage firm released a research report saying that considering the social inventory problem, it downgraded Kweichow Moutai's rating from buy to neutral. This performance report of Kweichow Moutai is obviously the best response to the previous market.