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Bulls and bears lock horns over China's blue-chip drink maker

Shares of Kweichow Moutai have surged 93% this year, but banks and funds have different views about the rally

Even after a recent correction, Moutai trades at more than 30-times earnings compared with just around 13 times two years ago. It has a market capitalisation of more than 800 billion yuan.


KWEICHOW Moutai, the Chinese drink maker made famous when Richard Nixon drank its fiery sorghum liquor on his historic state visit to Beijing in 1972, has been the toast of the mainland's blue-chip stock rally, surging 93 per cent this year....