Kweichou Moutai ranked as the most valuable company on China’s stock market earlier this month, higher than heavyweights like Industrial and Commercial Bank of China (ICBC), China Life and Sinopec, with a market cap of US$252.9 billion.
ICBC soon reclaimed the crown but it was yet another sign of the power of Moutai, China’s best-known booze brand; power the ongoing coronavirus crisis has done little to diminish. And it’s hardly the first time Moutai has made headlines for its brand value.
“Moutai shares have long been traded at the highest price among all the companies listed on the mainland, as investors salivate over rosy sales prospects of the liquor brand,” writes Caixin, though Zhang Shidong of South China Morning Post cautions a “last call” might be ahead for a stock that has “soared 43 per cent in less than three months.”
The Guizhou province-based baijiu maker has also been crushing it in Brand Finance‘s annual rankings of most valuable spirits brands. The most recent listings, released last October, saw Moutai keep top spot. It was followed by fellow baijiu makers Wuliangye, Yanghe and Luzhou Laojiao, with Johnnie Walker rounding out the top five.