‘China’s Warren Buffett’ adds Moutai shares for 3rd time as baijiu sector seeks bottom

Chinese-American billionaire investor Duan Yongping, often called China’s Warren Buffett, has added 30,000 shares of Shanghai-listed baijiu maker Kweichou Moutai to his portfolio in his third public stake increase this year amid a deep sector-wide adjustment. Moutai’s premium valuation has long relied heavily on corporate and social gifting demand. Yet stricter supervision, more prudent corporate spending and ongoing anti-corruption efforts in recent years have dented demand, according to...