Shanghai, Jan 19, 2026, 04:52 CST — Premarket
- Moutai’s sales division has flagged fake online “enterprise” links pushing 1,499-yuan Feitian Maotai subscriptions to consumers
- Shares closed Friday down 0.5%, while major baijiu competitors also slipped
- Traders are on edge ahead of Monday’s open, with new margin rules taking effect and the Lunar New Year just around the corner
Kweichow Moutai Co Ltd’s A-shares on the Shanghai exchange (600519.SS) will be in focus Monday after its sales division flagged fake online promotions. These scams are pushing “enterprise” subscription links for Feitian Moutai priced at 1,499 yuan. The firm made clear it hasn’t authorized anyone to take these orders. Instead, 2026 sales contracts are being managed offline through provincial self-run stores, which work directly with existing corporate group-buying clients to verify and sign agreements. 1
This notice is crucial now since Moutai’s strict grip on distribution underpins the bullish view of the stock, valued more like a consumer blue chip than just a liquor producer. The brand name’s misuse by scammers has brought that control back into the spotlight.
The timing comes amid a stretch when demand chatter can flip quickly. With the Lunar New Year nearing, investors are zeroing in on any hints about the company’s strategy for supply, pricing, and market access in 2026.
Moutai shares dropped 0.5% on Friday, settling at 1,382 yuan. That values the company at about 1.73 trillion yuan, according to StockAnalysis.com. Over the past five trading days, the stock has fallen around 2.6%. 2
Chinese shares fell on Friday, with the Shanghai Composite dropping 0.26% and the Shenzhen Component down 0.18%, Xinhua reported. 3
Wuliangye Yibin slipped 0.88%, with Luzhou Laojiao falling 0.94% on Friday, according to data. Both companies are major competitors of Moutai in the publicly traded spirits market. 4
Monday’s trading faces added pressure from a fresh rule that raises the minimum margin requirement for new leveraged stock purchases from 80% to 100%, effective Jan. 19. “The surprise announcement definitely impacts market sentiment,” said Yang Tingwu, vice general manager at asset manager Tongheng Investment. Margin financing lets investors buy shares with borrowed money. 5
Scam warnings rarely hold attention in trading unless they cut into sales or trigger regulatory moves that block distribution. The company’s statement focused on consumer alerts and didn’t mention any hit to orders or shipments. 6
The immediate focus is Monday’s 9:30 a.m. open in China. After that, eyes shift toward the run-up to the Lunar New Year holiday on Feb. 17, as investors watch closely for any changes in demand, supply, or tightening in distribution. 7
