Make a move of 1.4 billion! Maotai's big move has brought capital | funds | Maotai

Release time:Apr 13, 2024 23:59 PM

China Fund News reporter Wu Jun

Kweichow Moutai, the leader of Baijiu, has set up private equity funds, which has attracted attention.

According to the latest industrial and commercial information, a fund named "Kweichow Moutai Structural Adjustment Guozi No. 2 Private Equity Investment Fund Partnership" was established on June 25 this year, with a contribution of more than 1.4 billion yuan. Its partners include China Kweichow Moutai Moutai Distillery Co., Ltd., the parent company of Guizhou Moutai, and Guizhou Qiansheng Equity Investment Fund Management Co., Ltd.

In fact, Maotai established Maotai Private Equity Fund 9 years ago and started private equity investment, investing in industries such as food and beverage, clothing production, and packaging materials; And in May of this year, it announced plans to invest 10 billion yuan to participate in the establishment of two industrial development funds - Maotai Zhaohua Fund and Maotai Jinshi Fund, which also attracted a lot of market attention.

Make a move of 1.4 billion! Maotai's big move has brought capital | funds | Maotai

Invest 1.4 billion yuan to establish a private equity fund

Backward partners include the parent company of Kweichow Moutai

According to information from Tianyancha, the Guizhou Province Structural Adjustment State owned Assets No. 2 Private Equity Investment Fund Partnership Enterprise was established on June 25th of this year, with a capital contribution of 1400.01 million RMB.

Partners of the new fund include China Kweichow Moutai Distillery Co., Ltd. and Guizhou Qiansheng Equity Investment Fund Management Co., Ltd; Among them, Guizhou Qiansheng Equity Investment Fund Management Co., Ltd. serves as its executive partner.

Of course, in the future, the fund must complete registration and filing with the China Securities Investment Fund Industry Association before private equity funds can engage in equity investment, venture capital, and other activities.

Mr. Fund noticed that China Kweichow Moutai Distillery Co., Ltd., one of the partners of the fund, is the parent company of the listed company Kweichow Moutai, which holds 54.07% of the shares of Kweichow Moutai.

The executive partner Guizhou Qiansheng Equity Investment Fund Management Co., Ltd. is 100% owned by Guizhou Qiansheng State owned Capital Operation Co., Ltd.

The joint venture between Maotai and Guizhou state-owned assets to establish a private equity fund is worth paying attention to in the future investment layout.

Maotai has long been engaged in private equity investment

In fact, Kweichow Moutai, the leader of Baijiu, has started to make equity investment in recent years. For example, in September 2014, it jointly established "Maotai Jianxin Investment Fund Management Co., Ltd." and later changed its name to "Maotai Private Fund Management Co., Ltd.". At present, the company is 80.1% owned by China Kweichow Moutai Distillery Co., Ltd. and 19.9% owned by CCB Investment Fund Management Co., Ltd.

According to the website information of the Fund Industry Association, the latest management scale range of Maotai Private Equity Fund is between 1-2 billion yuan, and it has filed 5 private equity funds, involving investments in tourism, food and other areas. It is worth mentioning that Xia Dingli, the legal representative and chairman of Maotai Private Equity Fund, and Su Yifeng, the senior investment manager, have both had experience working in large PE/VC institutions.

According to Tianyancha information, Maotai Private Equity Fund has invested in multiple enterprises in recent years, including Peak China, Guoquan Shihui, Baijia Food, New Jufeng, Wankai New Materials, Tianyi Shangjia, and Liziyuan, involving different sub industries such as food and beverage, clothing production, and packaging materials.

Propose to allocate 10 billion yuan to establish two industrial development funds

Kweichow Moutai Actively Invests in Industrial Investment

In May and June this year, Kweichow Moutai issued the announcement of investing in the establishment of an industrial development fund, which attracted market attention.

According to the announcement issued by Kweichow Moutai on May 19, in order to improve the rate of return on capital and create value for all shareholders, the company plans to invest and participate in the establishment of two industrial development funds, namely, the Maotai Zhaohua Industrial Development Fund and the Maotai Jinshi Industrial Development Fund. The company adheres to the principle of "market-oriented leadership, professional operation, and efficient investment" and participates in the establishment of funds in a market-oriented manner.

Specifically, Kweichow Moutai plans to participate in the establishment of "Maotai China Recruitment Fund" with its own funds, and the company paid in 2 billion yuan in the first phase; The total subscribed scale of Maotai Zhaohua Fund is 5.51 billion yuan. It is understood that the fund adopts a subscription system, and the principle of the proportion of three actual payments is 40%, 30%, and 30%.

From an organizational perspective, the fund operates in the form of a limited partnership and operates in the form of Co GP. Shenzhen China Merchants Guoxie No. 2 Equity Investment Fund Management Co., Ltd. and Maotai Private Equity Fund Co., Ltd. are the general partner and executive partner. The fund manager is China Merchants Capital Management, and Kweichow Moutai Wine Co., Ltd., China Merchants Capital Holdings and Nantong Zhaohua Investment Partnership are the limited partners.

The investment scope of this fund includes but is not limited to investment opportunities in fields such as next-generation information technology, biotechnology, new energy, new materials, high-end equipment, and large-scale consumption.

Another "Moutai Jinshi Fund" was also funded and established by Kweichow Moutai, and the company paid 2 billion yuan in the first phase; The total subscribed scale of Maotai Jinshi Fund is 5.51 billion yuan.

Among them, Jinshi Investment Co., Ltd. and Moutai Private Fund Co., Ltd. are the general partner and executive partner of the fund, the fund manager is Jinshi Investment, and Kweichow Moutai Wine Co., Ltd. is the limited partner.

Not long ago, Ding Xiongjun, Chairman of Kweichow Moutai, responded to the situation about the establishment of industrial investment funds at the performance briefing. He stated that the management of the company is more concerned about the effectiveness and risks of fund investments than the majority of small and medium-sized shareholders. Kweichow Moutai has always followed the principles of value creativity, legality and compliance, feasibility, stability and market-oriented operation. "Among them, the main purpose of Kweichow Moutai's participation in the establishment of the fund is to improve the return rate of capital by virtue of the advantages of professional investment institutions and create value for all shareholders. This is the company's first attempt to set up the fund, and is very cautious about the choice of partners. In addition, it reduces the proportion of initial paid in, and reduces risks while fully trusting the manager."

In fact, in addition to Kweichow Moutai, in recent years, many Baijiu enterprises have contributed to set up industrial investment funds, such as Luzhou Laojiao, Guyue Longshan, Yanghe Shares, Jinshiyuan, etc. This year, they all released announcements about participating in private equity funds related to investment.

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