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Moutai lifts liquor prices by 20-30%
By Hu Xiaocen |
September 4, 2012, Tuesday
|
Online Edition
Online Edition
Kweichow Moutai Co, China's leading high-end liquor producer, raised the prices of some of its products by 20 to 30 percent on September 1, the distiller said in a statement last night.
"The market expected Moutai to increase its prices sometime early next year and the move was much earlier than we expected," Guosen Securities said this morning. "We expected the prices to go up by 150 yuan (US$31.5) to 200 yuan. The scale of adjustment topped our projection and the move will raise Moutai's share price."
Kweichow Moutai Co soared 6.5 percent to 234 yuan in morning trading today.
The distiller said the price adjustment will not affect its recommended retail prices, but will impact the company's performance this year. It reminded investors of potential risks.
However, the price hike has been predicted by some liquor dealers as the approaching Mid-Autumn Festival and the National Day holiday are the peak season for liquor sales. High-end liquors such as Moutai and Wuliangye usually sell at higher prices during this period.
"The market expected Moutai to increase its prices sometime early next year and the move was much earlier than we expected," Guosen Securities said this morning. "We expected the prices to go up by 150 yuan (US$31.5) to 200 yuan. The scale of adjustment topped our projection and the move will raise Moutai's share price."
Kweichow Moutai Co soared 6.5 percent to 234 yuan in morning trading today.
The distiller said the price adjustment will not affect its recommended retail prices, but will impact the company's performance this year. It reminded investors of potential risks.
However, the price hike has been predicted by some liquor dealers as the approaching Mid-Autumn Festival and the National Day holiday are the peak season for liquor sales. High-end liquors such as Moutai and Wuliangye usually sell at higher prices during this period.
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