Kweichow Moutai shareholders approve dividend, buyback, and governance changes

Kweichow Moutai shareholders, at their first extraordinary general meeting of 2025 on November 28, approved a cash dividend of RMB 23.957 per share. This decision came alongside the approval of a share repurchase program, targeting between 794,647 and 1,589,294 shares at a maximum price of RMB 1,887.63 per share. The buyback, valued between RMB 1.5 billion and RMB 3 billion, aims to reduce registered capital and will be executed within six months of the resolution.

The meeting also saw the election of Chen Hua to the company's fourth board of directors. Following this, the board elected Chen Hua as chairman and approved an investment of up to RMB 121.9 million for the 10kV high-voltage dual power supply system renovation project at the Moutai factory.

Additionally, shareholders approved revisions to the company's articles of association and its related-party transaction decision-making system. The company also decided to abolish the supervisory board, transferring its statutory functions to the board's audit committee.