On August 21, Kweichow Moutai held a 2026 semi-annual results briefing. Chairman Chen Hua said that the second quarter entered the traditional low consumption season. Facing deep industry adjustments and weak consumer demand, the overall performance of Kweichow Moutai was steady, but the sauce-flavored wine series faced pressure and challenges. Maotai adheres to the business philosophy of “fishing without exhaustion”, continues to promote the market-based transformation of the wine series, and maintains the stability of the “basic market” of the market. In the second quarter, we continued to improve the hierarchical product launch model driven by market demand, and accurate marketing was carried out according to the actual market sales situation. The volume of sales decreased over the same period last year, effectively maintaining the health and resilience of the channel ecosystem.

On August 21, Kweichow Moutai held a 2026 semi-annual results briefing. Chairman Chen Hua said that the second quarter entered the traditional low consumption season. Facing deep industry adjustments and weak consumer demand, the overall performance of Kweichow Moutai was steady, but the sauce-flavored wine series faced pressure and challenges. Maotai adheres to the business philosophy of “fishing without exhaustion”, continues to promote the market-based transformation of the wine series, and maintains the stability of the “basic market” of the market. In the second quarter, we continued to improve the hierarchical product launch model driven by market demand, and accurate marketing was carried out according to the actual market sales situation. The volume of sales decreased over the same period last year, effectively maintaining the health and resilience of the channel ecosystem.