Also Read | Dark underbelly of India Inc’s shop floorsRival Wuliangye Yibin Co.’s share price has more than doubled, for a market cap of $167 billion.
An index of 36 drinks companies whose shares trade in Shanghai or Shenzhen rallied 86.7% this year, compared with a 23% increase in China’s CSI 300 benchmark, according to Wind.The index also includes beer companies, but the most valuable players are mostly distillers who specialize in baijiu, a fiery Chinese spirit made by fermenting sorghum or other grains.Moutai’s drinks, which have an unusual aroma reminiscent of soy sauce, have traditionally been served at state banquets, making them a homegrown status symbol for affluent Chinese.Investors and analysts credit China’s quick recovery from.