Scrappy shareholders challenged Chinese distilling behemoth Kweichow Moutai. The state-backed company will sidestep a vote and cap related-party deals. There’s more work to be done, however, on Beijing-linked corporate governance. cbeddor
A customer walks past a glass case displaying Maotai liquors with different price tags at a supermarket in Shenyang, Liaoning province August 8, 2012. The makers of China's fiery liquor baijiu, a pricey, potent drink that is a staple at state dinners, say it inspires poets and can even ward off dementia.
For investors in the largest baijiu makers Kweichow Moutai Co Ltd and Wuliangye Yibin Co Ltd, the appeal is more mundane: the companies paid out huge dividends and raised earnings forecasts when a slowing economy had prompted dozens of Chinese firms to issue profit warnings. Picture taken August 8, 2012.
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