[Epoch Times September 11, 2021](Epoch Times reporter Liu Yi comprehensive report) Kweichow Moutai Group has recently changed from 100% holding of the State-owned Assets Supervision and Administration Commission of Guizhou Provincial Government to 90% of Guizhou State-owned Assets Supervision and Administration Commission, Guizhou Financial Holding Group A limited liability company holds 10% of the shares. The enterprise type of Moutai Group was changed from a wholly state-owned limited liability company to a state-owned holding limited liability company.
According to a report by Times Weekly on September 10, this was less than 10 days after Guizhou Energy Bureau Director Ding Xiongjun airborne Maotai as secretary and chairman of the group’s party committee on August 30. Maotai once again experienced major changes.
On the evening of September 9, Moutai Group issued a statement stating that this change was an investor change; Guizhou Moutai also issued an announcement stating that the State-owned Assets Supervision and Administration Commission of Guizhou Province transferred its 10% equity of Moutai Group to Guizhou Financial Holdings for free.
Guizhou Financial Holdings is 100% owned by the Department of Finance of Guizhou Province. Moutai Group has transferred 8% of Guizhou Moutai’s equity to Guizhou State-owned Assets Corporation at the end of 2019 and 2020 respectively. Based on the stock price at that time, the cumulative market value is about 150 billion yuan.
Since 2019, Guizhou state-owned companies have repeatedly reduced their holdings of Kweichow Moutai shares and have cashed out more than 70 billion yuan. As of the first half of 2021, Guizhou state-owned companies still hold 4.54% of Kweichow Moutai.
The Wall Street Journal wrote on August 2 that the indebted Guizhou authorities used Moutai as a financial tonic.
Many people close to the local government of Guizhou once told Times Weekly that as the Guizhou Provincial Government continues to control Moutai, many policies of Moutai require the approval of the Guizhou Provincial Government to be implemented, and the administrative color is strong.
Jin Yufeng, director and managing partner of Centaline Fund, said: Moutai’s move “can prepare for the mixed reform at the Moutai Group level in advance.”
Moutai’s free transfer of Kweichow Moutai equity to Guizhou state-owned companies at the end of 2019 and 2020 has caused Moutai’s share price to fall.
On September 16, 2020, Moutai issued a message that it transferred the shares of Kweichow Moutai to Guizhou State-owned Assets Corporation for free. On September 17, the share price of Kweichow Moutai, which has the highest value of the A stock market, once fell 3.9%, and Moutai fell 3.16% at the close.
Some netizens also expressed different views on this. Netizen “Unicorn 0518”: “I just think it’s not easy to deal with. I think it will be difficult to deal with administrative factors then!”
Editor in charge: Li Qiong
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