手握2108亿元，茅台大手笔回购、中期分红：30亿+300亿

Core Viewpoint - Guizhou Moutai 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][6][7]. Group 1: Share Buyback - Guizhou Moutai plans to repurchase shares using its own funds, with a total amount between RMB 15 billion and RMB 30 billion, at a maximum price of RMB 1887.63 per share [1]. - This announcement follows a previous buyback completed in the first eight months of the year, where the company spent RMB 6 billion to repurchase 3.9276 million shares [1][6]. Group 2: Mid-term Dividend - The company announced a cash dividend of RMB 23.957 per share (including tax), totaling approximately RMB 30 billion, consistent with the previous year's mid-term dividend [6][7]. - Guizhou Moutai has committed to maintaining a dividend payout ratio of no less than 75% for the years 2024 to 2025, indicating a likelihood of increasing total dividends [7]. Group 3: Financial Performance - Despite a recent downturn in the liquor sector, Guizhou Moutai reported a year-on-year revenue growth of 6.36% and a net profit growth of 6.25% for the third quarter [7]. - As of September 30, the company had retained earnings of RMB 210.875 billion and cash and cash equivalents of RMB 159.502 billion, indicating strong financial health [7].