K-line chart, characteristic data, capital flow, announcements, individual stock calendar, core themes. Latest price: 1558.85. Change in price: 6.65. Change in percentage: 0.43%. Trading volume: 27,700 lots. Transaction amount: 4.33 billion. Turnover rate: 0.22%. Price-earnings ratio: 24.14. Total market value: 1958.2 billion. Query the stock market for this stock? Real-time capital flow? In-depth data revelation? Enter the Guizhou Moutai stock bar. Guizhou Moutai capital flow related stocks: Rock Co., Ltd. (14.91, 10.04%). Weilong Co., Ltd. (13.01, 8.96%). Mogao Co., Ltd. (7.59, 7.20%). Huiquan Beer (10.8, 4.45%). Related sectors: Guizhou sector (2.35%). State-owned enterprise reform (2.10%). E-commerce concept (2.07%). Institutions hold heavy positions (2.02%).
Recently, the stock price and liquor price of Guizhou Moutai have fallen, attracting widespread market attention. From last Mid-Autumn Festival to this Mid-Autumn Festival, Guizhou Moutai’s stock price has fallen by 28.06%, and its market value has evaporated by 671.6 billion yuan. At the same time, the market wholesale prices of original box and loose bottle Feitian Moutai have also fallen, down 20.
On the evening of September 20th, Kweichow Moutai announced its intention to invest between 3 billion and 6 billion yuan of its own funds to repurchase shares, which will then be canceled. Specifically, the number of shares to be repurchased ranges from 1.67 million to 3.34 million, accounting for approximately 0.133% to 0.266% of the total shares. The repurchase price per share will not exceed 1795.78 yuan (inclusive), which is not higher than 130% of the average trading price of the company’s stock in the 30 trading days before the board of directors’ resolution to repurchase shares. The repurchase period will last for 12 months from the date the company’s shareholders’ meeting approves the repurchase plan. This marks the first time Kweichow Moutai has repurchased shares since its listing 23 years ago, and upon completion of this plan, it is expected to become the ‘King of A-share Repurchase’. Data shows that as of June 30th of this year, Kweichow Moutai’s cash and cash equivalents balance was 145. 27 billion yuan, and the maximum repurchase funds of 6 billion yuan account for only 4.13% of its cash and cash equivalents. Although the maximum repurchase of 6 billion yuan is a significant move in the market, it seems insignificant compared to Kweichow Moutai’s market value of 1.59 trillion yuan. The effect of stock repurchases by various liquor companies has been underwhelming. Data indicates that from January 1st to September 22nd, 2024, five liquor companies conducted stock repurchases, namely Jin Hui Liquor, Shede Alcohol Industry, Shuijingfang, Kouzi Jiao, and Luzhou Laojiao. Among them, Jin Hui Liquor had the largest repurchase amount of 1.89 billion yuan. Shede Alcohol Industry, Shuijingfang, and Kouzi Jiao repurposed amounts of 130 million yuan, 85. 09 million yuan, and 45.67 million yuan, respectively. Luzhou Laojiao had the smallest repurchase amount of 1.81 million yuan. Currently, the effects are not apparent. This year, Jin Hui Liquor’s stock price has fallen by 32.40%, Shede Alcohol Industry by 55.06%, Shuijingfang by 41.41%, Kouzi Jiao by 16.16%, and Luzhou Laojiao by 41.75%. Kweichow Moutai’s Market Value Management Actions Spark Debate. Market reactions to Kweichow Moutai’s move have been mixed. Some analysts believe that repurchasing and canceling shares is an effective means of market value management, aimed at enhancing the value per share by reducing the number of outstanding shares. It is anticipated that the cancellation of repurchased shares will slightly increase the company’s earnings per share. ‘In the current context where some liquor enterprises have outstanding value-to-price ratios but face relatively weak industry demand, as the industry leader, Moutai’s market value management move has a certain industry demonstration effect.’ However, there are also opinions that in the current market environment, relying solely on share repurchases may not fundamentally reverse the trend of falling stock prices. The company also needs to focus on improving performance and optimizing governance structures to truly achieve stable market value growth.
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