FINANCE

Moutai Raises Insurer Stake to 49% in Cap Exception

Published: Apr. 15, 2026 6:23 p.m. GMT+8

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China Kweichow Moutai Winery (Group) Co. Ltd. has raised its stake in a life insurer to about 49%, in a move that marks a rare exception to a longstanding cap on single-shareholder ownership in the sector.

The state-backed liquor giant was the sole contributor in the latest capital increase at Huagui Life Insurance Co. Ltd., lifting its stake from about one-third, according to corporate filings. Both companies are based in Guizhou province.

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Kweichow Moutai raised stake in Huagui Life Insurance to ~49% from ~33% via sole capital increase.
Rare exception to 2018 one-third ownership cap, approved December; both in Guizhou.
Huagui solvency improved; state shareholders total 71.7%; founded 2017, profitable last year.

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Who’s Who

China Kweichow Moutai Winery (Group) Co. Ltd.: China Kweichow Moutai Winery (Group) Co. Ltd. raised its stake in Huagui Life Insurance to ~49% via a sole-contributed capital increase, up from ~33%. Approved in December, it exceptions the 2018 one-third cap. Both Guizhou-based, the deal boosted Huagui's solvency; state holdings now 71.7%.

Huagui Life Insurance Co. Ltd.: Huagui Life Insurance Co. Ltd., founded in 2017 in Guizhou, is a small Chinese insurer that returned to profit last year amid premium growth. Kweichow Moutai raised its stake to 49% via capital increase, boosting solvency ratios. State shareholders now hold 71.7%. (48 words)

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