ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Caixin

Moutai shareholders to sue distiller for $120m government donations

State-owned company has contributed to local infrastructure projects

A group of Kweichow Moutai shareholders plan to file a class action lawsuit over the donations, which could “hinder their interests,” one of the shareholders told Caixin.

Hundreds of shareholders at liquor-making giant Kweichow Moutai plan to file a class action lawsuit over its 800 million yuan ($122.5 million) in donations to local government infrastructure projects.

The Shanghai-listed company's board of directors has decided to donate 260 million yuan to the government of its hometown of Renhuai, Southwest China's Guizhou province, and 546 million yuan to the government of neighboring Xishui county, the company said in an Oct. 26 filing with the exchange.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more