Moutai adjusts share repurchase price following interim dividend

Kweichow Moutai announced an adjustment to the upper limit of its share repurchase price following the implementation of its 2025 interim equity distribution. The adjusted repurchase price ceiling is now set at RMB 1,863.67 per share, down from the previous RMB 1,887.63 per share, effective December 19, 2025. This change follows the company’s interim cash dividend of RMB 23.957 per share (including tax) to all shareholders.

The company plans to repurchase shares worth between RMB 1.5 bn and RMB 3 bn, using its own funds. With the adjusted price, the estimated number of shares to be repurchased ranges from 804,864 to 1,609,727 shares, representing 0.0643% to 0.1285% of the total share capital. The repurchased shares will be cancelled to reduce the company's registered capital.

The repurchase program is expected to last for six months from the approval date of the repurchase plan by the shareholders' meeting. This initiative aims to enhance investor confidence and will not negatively impact the company's operations, finances, or long-term development.