# stocks

Why Betting on Moutai Is No Sure Thing: Demographics, Demand and a Slowing Profit Engine

A recent Rmb100m stake by investor Duan Yongping in Kweichow Moutai has prompted debate about whether to follow. Despite Moutai’s brand strength, industry-wide baijiu output has fallen for seven years and Moutai’s profit growth is decelerating amid demographic declines and changing younger-consumer preferences. These structural trends make high valuations and dividend-based investment arguments riskier.