KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-06 00:18Core Viewpoint - Guizhou Moutai has announced a new round of share buybacks and a mid-term dividend for 2025, aiming to enhance investor confidence and strengthen market value management [1][3][4]. Group 1: Share Buyback - Guizhou Moutai plans to repurchase shares using its own funds, with a total amount not less than RMB 15 billion and not exceeding RMB 30 billion, at a maximum price of RMB 1887.63 per share [1]. - This announcement comes just three months after the company's first-ever share buyback, where it spent RMB 6 billion to repurchase 3.9276 million shares from January to August [1]. Group 2: Mid-term Dividend - The company has declared a cash dividend of RMB 23.957 per share (including tax) for the 2025 mid-term, totaling approximately RMB 30 billion [2]. - This dividend amount is consistent with the mid-term dividend for 2024, indicating a stable return to shareholders [2]. Group 3: Market Value Management - The new buyback and dividend announcements are part of Moutai's strategy to enhance market value management, responding to investor calls and regulatory encouragement [3]. - Moutai has previously committed to a minimum annual dividend payout ratio of 75% for the years 2024 to 2025, suggesting a likelihood of continued growth in actual dividends [4]. Group 4: Financial Performance - Despite a recent downturn in the liquor sector, Moutai reported a revenue growth of 6.36% and a net profit growth of 6.25% for the third quarter, making it one of the few companies in the industry to achieve positive growth [4]. - As of September 30, Guizhou Moutai had retained earnings of RMB 210.875 billion and cash and cash equivalents of RMB 159.502 billion, indicating strong financial health [6].