During a business performance briefing held on August 21 for the 2026 interim results, Kweichow Moutai Co.,Ltd. addressed questions regarding a reported decline in Moutai liquor production for the first half of the year. The company's base liquor output for the period stood at 41,000 tons, a decrease of approximately 2,700 tons compared to 43,700 tons recorded in the same period last year.

In response to investor queries, Wang Li, a director and acting general manager of Kweichow Moutai Co.,Ltd., explained that the production process strictly adheres to the traditional brewing cycle, which is designed to align with natural seasonal rhythms. She noted that the timing for annual grain input and fermentation starts varies each year, leading to fluctuations in base liquor output reported for any given interim period. This variance is a temporary statistical discrepancy stemming from different stages of the production schedule, and it will not impact the cumulative annual production figures for the full year.

The clarification comes as part of a broader effort by the company to keep investors informed about its operational metrics, with management emphasizing that the long-term production capacity and annual output targets remain firmly on track.