(Yicai Global) Aug. 14 -- The share price of Chinese liquor maker Kweichow Moutai Co. [SHA:600519] hit a new high today of more than USD74.98 (CNY500) in a tight market, making it the most valuable stock the A-share market has seen in the past 20 years.
September has traditionally been a strong selling season for spirits. The price of several high-end spirits has risen recently, and their supplies have fallen short of demand. Although Kweichow Moutai already announced that it will increase supply and take measures to control prices, some regions are still fraught with panic buying.
The share price of Kweichow Moutai was up more than 3.3 percent when it peaked today, giving the company a market value of CNY62.8 billion. The stock finished out the session at CNY499.8, up 3.25 percent.
Four brokers have given "outperform" and "strongly recommend" ratings to Kweichow Moutai since July 28 and set price expectations as high as CNY600 per share.