CONTENTS
02 About the Report Mutual Symbiotic Sharing
04 Message from the
Chairman Success Coexistence Benefits
06 About Kweichow
Moutai Enabling Modern Coexisting Sharing Value
Governance within the Harmoniously with Society
12 Sustainable Organization with Nature
Development
22 Corporate Governance 58 Climate Change Tackling 108 Product and Service Quality
35 Business Ethics 72 Efficient Resource Utilization 128 Employee Management
152 Outlook 42 Technological Innovation 94 Green Environment Protection 138 Health and Safety
153 Appendix 50 Sustainable Supply Chain 146 Public Welfare and Rural RevitalizationMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
About the Report
Organization Statement
This Report covers Kweichow Moutai Co. Ltd. and its affiliated organizations. All data herein are derived from the 2025 Annual Report of Kweichow Moutai Co. Ltd. and our relevant statistics. The
bookkeeping base currency for all monetary amounts involved is RMB. Certain data in this Report has been rounded.Reporting Period
This Report covers the period from January 1 to December 31 2025 with part of the content tracing back to previous Compilatory Basis
years as necessary to ensure continuity of information. This Report is prepared in accordance with the Guidelines No. 14 of Shanghai Stock Exchange for Self-Regulation of
Listed Companies - Sustainability Report (Trial) and the Guidelines No.4 for Self-Regulatory Supervision on Listed
Companies of Shanghai Stock Exchange - Compilation of Sustainable Development Reports (Revised in January 2026)
Reference Names issued by the Shanghai Stock Exchange. It also references the GRI Sustainability Reporting Standards (GRI Standards) issued by the Global Sustainability Standards Board (GSSB) and Sustainable Development Goals (SDGs).The names used in this Report are as follows:
"Kweichow Moutai Co. Ltd." "Kweichow Moutai" "Moutai" the"Listed Company" Languagethe "Company" "we" or "us"
This Report is available in both Chinese and English. In case of any discrepancy in understanding the content the
"China Kweichow Moutai (Group) Co. Ltd." "Moutai Group" the "Group Company" Chinese version shall prevail."China Kweichow Moutai (Group) Co. Ltd.Heyixing Baijiu Branch" "Heyixing Branch"
"Kweichow Moutai Baijiu Sales Co. Ltd." "Sales Company" Report Design
"Guizhou Laymau Baijiu Industry Co. Ltd." "Laymau Baijiu Company" This report adopts eastern traditional color "State of Qi Purple" as its annual theme color carrying forward and
promoting fine traditional Chinese culture."Kweichow Moutai-Flavor Baijiu Marketing Co. Ltd." "Moutai-Flavor Baijiu Company"
"Guizhou Moutai Chiew Import and Export Co. Ltd." "Import and Export Company"
How to Obtain
Publication Interval This Report is available in both print and electronic formats. For more information on Kweichow Moutai's ESG performance or to download the electronic version of this Report please visit the following websites.This Report is an annual report and represents the fifth Environmental Social and Governance (ESG) Report published Official website of Kweichow Moutai: https://www.moutaichina.com/
by Kweichow Moutai. Official website of Shanghai Stock Exchange: https://english.sse.com.cn/
02 03Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Mutual Success means unlocking development momentum through governance innovation.Message from the Chairman Governance modernization is fundamental to Kweichow Moutai's steady and sustainable growth. It underpins the Company's ability to balance development and security and provides an essential safeguard for long-term value creation. Guided by the
principle of upholding fundamental values while pursuing innovation we have continued to deepen state-owned enterprise
reform strengthened and refined our systems for strategy budgeting internal rules performance management and risk
oversight and built a modern governance framework characterized by sound decision-making efficient management and
effective risk control. We have advanced the Smart Moutai initiative using digital and intelligent technologies to upgrade
traditional brewing foster new quality productive forces and accelerate the shift in operations from experience-led management
to technology-driven development. We have also enhanced enterprise-wide risk management improved audit procedures
and compliance mechanisms co-created value with stakeholders such as shareholders and partners from a long-termism
perspective optimized ESG planning and KPI systems and strengthened ESG management overall. These efforts continue to
advance the modernization of our governance system and governance capacity ensuring that Moutai remains strategically
Opening this report what comes into focused and resilient amid a changing era.view is a clear record of Kweichow
Moutai's deepening ESG practice. Symbiotic Coexistence means strengthening the foundations of development through ecological stewardship.A healthy and resilient ecological environment serves as the fundamental pillar for Moutai's continued existence and sustainable
development. We have continued to put into practice the principle that lucid waters and lush mountains are invaluable assets
adhered to ecological priority and green development and concentrated on strengthening two core systems: environmental
protection and ecological management. In doing so we have further reinforced the Company's green development foundations.We formulated an action plan for carbon peaking and carbon neutrality conducted climate scenario analysis and product
carbon footprint assessments and explored carbon asset management integrating climate action and the dual-carbon goals
Over the past year amid a challenging and complex throughout the entire development process. We also carried out water footprint assessments innovated water-saving processes
operating environment at home and abroad Moutai and full-process controlled wastewater collection and steadily improved water recycling efficiency. At the same time we
has remained guided by Xi Jinping Thought on continued to strengthen air pollution prevention and control enhance solid waste management and explore pathways for
Socialism with Chinese Characteristics for a New greater green value creation. Through ongoing scientific research on microorganisms aquatic life and plant communities we
Era thoroughly implemented the guiding principles are building an ecological assessment system that encompasses biodiversity ecosystem integrity and ecosystem stability. These
from General Secretary Xi Jinping's important efforts continue to reinforce our ecological security barriers support the creation of a Beautiful Moutai model and contribute to
remarks and instructions during his inspection tour the broader vision of a Beautiful China.of Guizhou fully carried out the decisions and plans
of the Guizhou Provincial Party Committee and Sharing Benefits means advancing shared social prosperity through long-term value creation.Provincial Government applied the new development
philosophy actively served and integrated into the Moutai remains firmly committed to a consumer-centered approach and is evolving from simply selling Baijiu to offering a
new development paradigm and further embedded distinctive lifestyle experience. We are building a national brand defined by responsibility accountability and human warmth
the ESG principles of Mutual Success Symbiotic so that the benefits of development can be shared more broadly and more equitably across society. We uphold the philosophy
Coexistence and Sharing Benefits into every aspect of that quality is the soul of life and we apply our originality quality management model built on the "Time-Space-Method (skill
its business operations thereby continuing to create and technique)" to achieve quality control across all scenarios the entire value chain and the full product life cycle. We have
sustainable value. strengthened collaborative supply chain management and risk prevention capabilities enhanced supply chain resilience
advanced market-oriented marketing reform and refined our marketing system to provide consumers with consistently
outstanding products and services. We have also improved our talent framework reinforced occupational health and safety
management protected employee rights and benefits and fostered a stronger sense of belonging and well-being. Guided by our
public welfare flagship China Moutai Backbone of the Nation we have built a diversified philanthropic portfolio spanning eco-
environmental protection industry support public well-being and education and cultural heritage. During the year we donated
a total of RMB 121 million further honoring our commitment of Big Brand and Big Responsibility. We remain committed to paying
taxes in accordance with the law leveraging our industry leadership and advancing rural revitalization thereby continuing to
contribute to economic and social development and bringing the responsibility and warmth of the Moutai brand to life through
concrete action.Chairman of Kweichow Moutai Co. Ltd. With a long journey ahead and a strong tailwind behind us we are setting out once again with a deep sense of responsibility.The year 2026 marks the opening year of the 15th Five-Year Plan and a pivotal year in Moutai's new journey toward high-quality
development. We will unswervingly follow the direction charted by General Secretary Xi Jinping benchmark ourselves against
world-class standards and continue to deepen ESG practice. We will remain consumer-centered innovation-driven and
committed to unlocking greater value through culture. We will continue to improve governance pursue ecological protection
with sustained dedication and act proactively in fulfilling our social responsibilities. Working together with all stakeholders
we will build a community of shared development based on value co-creation and contribute even more to brewing a high-
quality life and promoting harmony among the economy society and the environment as we jointly create a better future for
sustainable development.
04 05Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
About Kweichow Moutai
Company Profile Corporate Culture
Kweichow Moutai Co. Ltd. (stock code: 600519) was incorporated in November 1999
and was listed on the Shanghai Stock Exchange in 2001. Headquartered in Moutai
Town along the stunning banks of the Chishui River in northern Guizhou Province Operating revenue
Moutai is mainly engaged in the production and sales of Moutai Baijiu and Moutai Brewing a High-Quality Life Purpose Vision China Moutai
series Jiang-flavour Baijiu. The core product Kweichow Moutai Baijiu is the originator RMB 168.838 billion A Toast to the World
and indisputable representative of Daqu Jiang-flavour Baijiu in China. The marketing
network extends across China and to 66 countries and regions on five continents.Our products are organic food with geographical indications representing a Chinese Net profit attributable to
business card that brings the fragrance of Baijiu to the world. shareholders of the listed company
The Company is committed to the brand vision of "China Moutai A Toast to the RMB 82.320 billion
World". Guided by the aspiration to become a first-class enterprise and a world-class
brand and benchmarked against international advanced standards the Company Aromatic
is building first-class product quality a world-class brand image a leading industrial Product Devoting to
system a top-tier governance structure and cutting-edge innovation capabilities. Persistent Corporate Corporate Moutai and
We strive to make Moutai a world class enterprise with product excellence brand The Company ranked Integrity and Styles Spirit Winning Glory for
prestige innovation leadership and modern governance establishing it as a globally 1st Harmonious the Motherlandinfluential and competitive brand. Community
in the "Top 50 Global Most
The Company upholds the philosophy that "Quality is the Soul of Life." Through Valuable Spirits Brands of Brand
continued practice grounded in "survival through quality" this philosophy has Finance" for ten consecutive years
evolved into a shared belief among all Moutai people. Quality control runs through
the entire value chain of the Company's core Jiang-flavour Baijiu business covering
base Baijiu production blending and storage packaging and dispatch. By combining Core Quality Brand
the traditional philosophy of "honoring fundamentals and preserving craftsmanship" and ranked Quality Competi-
with a modern quality management system the Company continues to enhance full- Quality is the Soul of Life Philosophy Craftsmanship
process quality control. 3rd tiveness Environment Culture
in the "BrandZ Top 100 Most
The Company is committed to creating more durable and sustainable value. Valuable Chinese Brands" with a
It remains customer-centered focuses on key links such as production sales brand value of USD 80.023 billion
and supply and enhances value creation across the industrial chain; it persists in
innovation as the driver strengthens industrial innovation capabilities leverages making it the most
cultural innovation and stimulates endogenous momentum for quality upgrading; valuable alcoholic
it benchmarks against the best strengthens reform and breakthrough capabilities beverage brand in China
reinforces risk defenses and improves the modernization of governance; and it takes
co-creation and sharing as the foundation building a development community with
stakeholders based on value co-creation and mutual benefit and gathering powerful
momentum for the new journey ahead.
06 07Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Corporate Core Values: Follow the Nature and Respect the
Man Seek Truths and Cultivate Virtues
Moutai takes keeping in tune with the times as its foundation respecting people and understanding principle as its basis and
cultivating virtues to build the business as its soul. It inherits craftsmanship upholds fundamental principles while pursuing
innovation and joins hands with stakeholders to build a better future of sustainable development.Follow Seek
Adhere to the Laws of Time Follow Seasonal Laws the Truths Understand Public Laws Understand Personal Integrity
It takes one year for each production Adhering to traditional brewing Nature
cycle and at least five years from methods we keep in tune with the We comply with laws and regulations We seek truth understand principles
daqu preparation to the dispatch of times and abide by its laws strictly maintain integrity in professional champion reason and uphold
finished products undergoing years carrying out production according conduct and jointly create an justice; we are humble in conduct
of refinement. to the "Twenty-Four Solar Terms" atmosphere of integrity and fairness. treat others with humility accept
to achieve co-crafting by man and advice readily and engage in lifelong
nature. learning.Respond to the Trends
of the Times Protect Ecological Vitality Understand the Principles of Action
We are adept at seizing opportunities We protect natural ecology brewing We uphold mindfulness walk the right path do the right things and seek the
developing new productive forces ecology and business ecology right outcomes; we act with reason and moderation stay true to the original
making traditions more traditional driving sustainable and high-quality aspiration be fair and impartial speak cautiously and act thoughtfully and take
and innovations more modern and development. active actions.progressing in the balance between
inheritance and innovation.Respect Cultivate
Respect Predecessors Respect Craftsmanship the Man Virtues Self-refinement through Quality Excellence through Virtue Cultivation Virtue Cultivation
Keeping the historical achievements We advocate the spirit of craftsmanship
of predecessors firmly in mind we respect innovation and creation We promote excellent traditional We distill with a benevolent heart
protect and promote their wisdom strengthen corporate practices and virtues and adhere to business ethics. use genuine materials act sincerely
and spiritual heritage. integrate the spirit of craftsmanship We are concerned about the country and produce authentic products.into the entire process of corporate and the family do good for others
production and operation. and improve ourselves.Respect the Stakeholders Enduring Success through Virtue Cultivation
We respect customers shareholders partners and peers and build a community We treat the market with reverence treat customers with sincerity treat
of shared emotions a community of shared destiny and a community of shared employees with care treat distributors with respect treat partners with trust
interests creating and sharing and achieving common development together. treat shareholders with gratitude treat competitors with fairness and treat
ourselves with self-discipline.
08 09Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Some of Kweichow Moutai's Awards in 2025
First Batch of China Consumer A Collection of Cases on National Directory of Key No. 7 in Global Most Valuable Spirits
Premium 、Brands - Food Deepening and Upgrading Low-Carbon Technologies for No.1 in the 2025 Interbrand China Best Brands TOP500 of Brand Finance in 2025;
Industry (Historic Classics) Local SOE Reform Promotion (Fifth Batch) Global Brands Ranking No. 1 in Brand Value Among Listed
General Office of the Ministry State-owned Assets Supervision Chinese Alcohol Companies
of Industry and Information and Administration Commission General Office of the Ministry of Interbrand
Technology of the State Council Ecology and Environment Brand Finance
Gold Award 5th Guizhou
Provincial Volunteer Service 2024-2025 A-Level Platinum Winner
Project Competition (Excellent) Information 2025 MUSE Creative Awards (U.S.)
Disclosure Rating
Department of Social Work of International Awards Associate
the CPC Guizhou Provincial Shanghai Stock Exchange (IAA)
Committee et al.
2025 Best Practice Case 2025 People's Daily
of Listed Company Corporate Social
Boards of Directors Responsibility Case Award
China Association for People's Daily
Public Companies
"Moutai's Integrated End-to-End Packaging
Industry Chain Control Practice and Innovative
Experience Based on a Three-Way Coordination MSCI S&P Global
Model of Production Supply and Sales" ESG Rating: A ESG Score: 61
selected into the China Association for Quality
2025 List of Benchmark Quality Practices MSCI S&P Global
China Association for Quality
Outstanding Enterprise in First Prize Science and
Measurement Management Global Chinese Quality 2025 Fortune China ESG Impact List; Technology Progress Award 2025
System 2024 Culture Model listed among Fortune's Most Admired China Food Industry Association
Listed Companies for 20 consecutive years Science and Technology Awards
China Society for Measurement Global Chinese
and Zhongqi Measurement Quality Alliance Fortune China National Food
System Certification Co. Ltd. Industry Association
10 11Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Board of Directors
Sustainable The Company deeply practices ESG concepts identifies material Board Strategy Committee
Development topics aligns with stakeholder expectations strengthens the ESG management system and advances sustainable development. ESG Promotion Committee
General Office
Environmental Social Subcommittee Governance
ESG Management System Subcommittee Subcommittee
The Company continues to improve its ESG management level through four pillars: governance strategy risk and opportunity
management and metrics and targets.Governance
The Company has established a three-level ESG governance structure covering the decision-making management and
execution levels providing institutional support for advancing ESG work. ESG Governance Structure
Strategy
ESG Governance Structure
The Company integrates the ESG philosophy of Mutual Success Symbiotic Coexistence and Sharing Benefits into its corporate
strategy exploring and shaping new pathways and models for ESG development in a comprehensive manner.Decision- B oard of Directors: acts as the decision-making body for ESG matters and takes responsibility Kweichou Moutai ESG Strategy System
making for the Company's ESG agenda.Level S trategy Committee: as a specialized committee of the Board it is responsible for the decision-
making guidance and oversight of specific ESG issues. Mutual Symbiotic Sharing
Success Coexistence Benefits
E SG Promotion Committee: chaired by the General Manager and responsible for overall
Management coordination of ESG management. Enabling modern governance Coexisting harmoniously with nature. Sharing value with society. We
Level E nvironmental Social and Governance Subcommittees: review and oversee the management within the organization. We focus Centered on living in harmony with take into account the interests of
and performance of key ESG issues in their respective fields. on sustainable development nature and advancing with the customers employees shareholders goals consolidate traditional core times we practice the ecological suppliers communities and other
competitiveness cultivate new philosophy of "co-crafting by stakeholders; uphold product quality
quality productive forces explore man and nature" build two green and safety; continue responsible
industrial layout in biotechnology systems-environmental protection marketing; actively participate in
Execution and digital technology continuously and ecological management seek regional co-development; and enable
Level E SG Promotion Committee Office and Special Working Groups: responsible for implementing improve the modern corporate balance and unity among people stakeholders to share development specific ESG tasks. governance system elevate enterprises society and nature and outcomes achieve mutual benefits
governance standards and efficiency pursue ecological priority resource and co-create value thereby building
and support the healthy stable and conservation and low-carbon a responsible accountable and
sustainable development of Moutai. development to build a beautiful valuable national brand.Moutai where humans and nature
coexist harmoniously.
1213
Privacy and Data Security
Working Group
Integrity in Business
Operations Working Group
High-Quality Development
Working Group
Ecosystem Co-development
Working Group
Overseas Responsibility
Fulfillment Working Group
Social Contribution
Working Group
Employee Health Mana-
gement Leadership Group
Dual Carbon Action
Working Group
Ecological and Environmental
Protection Working Group
Water Resources
Management GroupMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Symbiotic
Risk Management Coexistence Coexisting Harmoniously with Nature
In accordance with the requirements of Guidelines No. 14 of Shanghai Stock Exchange for Self-Regulation of Listed Companies
- Sustainability Report (Trial) the Company has incorporated ESG risk management into its overall risk management system
and continues to improve its ESG risk management capabilities.We prepared the Kweichow We procured 132150900 kWh of All glass paper textile metal and
The Company continues to identify and assess major ESG risks refine the risk database evaluate risk priorities and Moutai Carbon Peak and Carbon green electricity achieving 100% plastic packaging is 100% eligible
optimize response procedures. For key topics such as product quality workplace safety climate change response and waste Neutrality Action Plan clarifying green power coverage in the Moutai for resource recovery.management the Company leverages digital tools to further improve its risk prevention and control mechanisms. the implementation pathway and and Heyixing production areas.phased objectives including and The rate of good air quality in
reaching carbon peak before 2030 W e reduced water consumption per the Moutai production area
reducing CO emissions per unit of unit of product by 32.40% from the reached 98.08%; the ecological 2
industrial output value by 60% from 2023 baseline in 2025 achieving the development index reached 80.19
the 2020 baseline. 2026 water-saving target ahead of points in 2025 up 2.27% year on
Metrics and Targets schedule. year.We conducted climate scenario
analysis to systematically assess the W e completed the CDP Water
Based on its ESG strategic objectives and regulatory requirements the Company has established a scientific and quantifiable impacts of climate risks at different Security questionnaire and
performance indicator system regularly discloses progress and outcomes related to key targets and continues to advance stages on business and operations obtained a CDP Water Security
ESG practice. and completed carbon footprint rating of B.calculations for all core products.Mutual Sharing
Success Enabling Modern Governance Benefits Sharing Value with Society
within the Organization
We improved the policy map by We maintained the effective W e filed 107 patent applications The collective contract signing rate A nnual investment in workplace There were zero product recall
reviewing and consolidating 527 operation of the ISO 27001 and obtained 60 patent grants; held reached 100%. safety totaled RMB 117 million and incidents.policies including 5 foundational information security management 388 valid patents including 105 both work safety liability insurance
policies 99 first-level policies 240 system certification. invention patents 100 utility model T he average training and and work injury insurance achieved In 2025 the Company received 24
second-level policies and 183 third- patents and 183 design patents. development investment per 100% coverage. quality-related awards including 4
level policies. W e achieved the target of "zero full-time employee reached RMB international awards 12 national
cybersecurity incidents" with no We preserved more than 8800 1650.33 with the average training We passed the recertification awards and 8 provincial awards.We established a "one supervision data security incidents or customer microbial strains 328 wheat hours standing at 18.49 hours per audits for the ISO 9001 Quality
checklist for each domain" privacy breaches. germplasm resources and 800 employee. Management System and the
A customer satisfaction survey
conducted by an independent
identifying 207 risk points and sorghum germplasm resources for
Innovation composite strength E mployee satisfaction scored
HACCP system. third-party authority covered both
formulating 421 preventive distilling raw materials.reached 789.9 points meeting the 80.92 employee engagement Q uality management maturity the consumers and distributors; the measures.
2025 annual target. We registered users of iMoutai scored 88.01 and corporate culture product quality assurance index overall satisfaction score reached
W e conducted 1048 business reached 79.465 million an increase recognition scored 92.67. and the Moutai Baijiu Flying Fairy 93.7 in 2025 reaching the annual
ethics and integrity culture R esearch and Development (R&D) of 5.602 million year on year. The scope of ISO 45001 certification (Feitian) product quality score all target.training sessions covering 34992 investment amounted to RMB 803 covered all subsidiaries and remained at excellent levels and A total of more than 40 products
employees and more than 800 million up 15.54%. T he annual supplier audit ratio branches 100% of operating sites met targets. spanning the Moutai Baijiu and
stakeholders such as suppliers reached 100% with 820 supplier and business activities and all The batch inspection coverage rate Jiang-flavor series which further
with 100% coverage. We published 49 academic papers training instances completed. annual occupational health and for products leaving the factory enriched the cultural depth and
including 27 indexed by SCI. safety targets were achieved. the pass rate for supervisory spot brand expression of the product
checks and the product ex-factory portfolio.pass rate all remained stably at
100%.
14 15Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Dual Materiality Analysis
The Company fully considers stakeholder expectations and complies with the Guidelines No.4 for Self-Regulatory Supervision Results of the Materiality Topic Determination in 2025
on Listed Companies of Shanghai Stock Exchange - Compilation of Sustainable Development Reports. The Company collected
and assessed the financial impacts of key topics and further refined its dual materiality analysis mechanism.Based on the materiality matrix from recent years industry development trends and capital market priorities and through Environmental Governance
thematic interviews and financial data analysis the Company assessed both financial materiality and impact materiality and Dimension Social Dimension Dimension
ultimately developed the 2025 dual materiality matrix.Biodiversity conservation Product safety and quality Sustainable operations
Water resource management Supply chain management Privacy and data security
Dual Materiality Topic Identification Process Climate change tackling Customer service Risk management
Energy management Health and safety Business ethics and
Packaging material Employee rights and benefits anti- corruption
B uilt on results from previous years and carried out special interviews to identify management
and collect ESG financial indicators and data that may affect business operations Responsible marketing
financial performance operating results and cash flow. Environmental risk prevention
and control Social welfare
Identification and Evaluated inputs required to seize opportunities or avoid risks and measured
Assessment of the potential losses that may arise from inadequate management of the topic
Topics with Financial thereby estimating the scale of financial impacts.Materiality
S et financial materiality criteria based on industry characteristics business
model operational realities and input from stakeholders and formed the
financial materiality conclusions.Business ethics and anti-corruption
High Product safety and quality
Employee rights and benefits
Health and safety Biodiversity conservation
B ased on industry trends peer benchmarking and capital market focus Sustainable operations Customer service Supply chain management
and drawing on stakeholder questionnaire results from recent years the Identification and Privacy and data security
Responsible marketing
Company further gathered feedback from directors senior executives Risk managementAssessment of Water resource management
employees suppliers and other stakeholders through targeted interviews Topics with Impact
and discussions and conducted assessment and cross-validation to Climate change tacklingMateriality
determine impact materiality. Energy management
Environmental risk Packaging material management
prevention
Social welfare and control
Formation of the Combined the results of the financial materiality assessment and the impact
Dual Materiality materiality assessment to form the dual materiality matrix submitted it to the
Matrix ESG Promotion Committee for review and confirmation.Low Financial materiality High
2025 ESG Dual Materiality Topic Matrix
1617
Impact materialityMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Stakeholder Communication
The Company attaches great importance to communication and engagement with all stakeholders. It continues to improve
stakeholder communication mechanisms build diversified channels and work together with stakeholders to advance
sustainable development.Stakeholder Communication
Stakeholders Expectations and Communication and Response Stakeholders Expectations and Demands 1 Demands Communication and Response
Customers M atrix-based quality control and quality Partners
Product safety and management throughout the lifecycle
quality I mproving the customer service system and C ollaborating to enhance value across the value
S ervice experience enhancing consumer satisfaction
Win-win cooperation chain
Integrity in operations Upholding fairness and justice and improving the
Responsible marketing Standardizing regular marketing communications and eliminating exaggerated and false promotion reporting channels
Responsible drinking A ctively advocating responsible and healthy
drinking
Shareholders Industry Optimizing governance structure and adhering to Healthy development Building a green value chain and promoting the
the basic principles of compliance of the industry sustainable development of the industry
C ompliant operations
I mproving information disclosure and maintaining C limate change B uilding industry benchmarks and strengthening
G overnance proactive communication tackling cooperation with peer companies in promoting
transparency rational drinking
S trengthening market value management and Responsible marketing
Long-term value carrying out share buybacks C reating "production-living-ecological spaces" and
creation Protection of the gathering efforts into environmental and ecological
Increasing dividend distribution and actively natural ecosystem conservation
rewarding shareholders
Government and
Employees Setting up the Employee Wellness Management Regulators I mproving the mechanism for law-based corporate
Occupational health Leading Group to coordinate the work on health Lawful and compliant
operations governanceand safety and safety
Promoting the establishment of a long-term
C ompensation and Improving the remuneration and benefit system P rotection of the
natural ecosystem mechanism for the ecological conservation of the benefits protection and effectively protecting the legitimate rights and Chishui River Basin
Career development interests of employees Contribution to local Paying taxes in accordance with the law and driving
pathways I mproving the promotion channels for employees development employment to boost local industries
and the employee training system
1 The key issues of concern are comprehensively identified from the results of the ESG materiality analysis of Kweichow Moutai and regular communication
with Kweichow Moutai's stakeholders.
18 19Mutual
Success The Company upholds integrity in its operations
strengthens compliance and risk management
Enabling Modern advances technological innovation and digital
Governance within the transformation and reinforces sustainable supply
Organization chain development thereby building a corporate
governance system characterized by efficient
governance controllable risks innovation-driven
growth and coordinated development.Corporate Business Technological Sustainable
Governance Ethics Innovation Supply ChainMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Corporate The Company attaches great importance to governance system develop-ment continuously refines its governance structure and steadily
Governance optimizes corporate governance to modernize governance system and capacity for governance.Governance System Development
It convenes meetings in strict compliance with the Rules for General Meetings of Shareholders
of Listed Companies the Articles of Association and the Rules of Procedure for Shareholders'
The Company has established a governance structure with clearly defined powers and responsibilities coordinated checks Meeting 3 and other applicable requirements.and balances ensuring Board effectiveness and diversity and safeguarding the Company's long-term stable development.As the Company's highest authority it exercises statutory powers and powers prescribed by
the Articles of Association including the election of directors and approval of major matters
Shareholders' so as to ensure shareholders enjoy equal status and can effectively exercise rights such as the
Meeting right to know the right to participate the right to make inquiries and voting rights.Governance Structure and Mechanisms In 2025 the Company held a total of two Shareholders' Meetings.In accordance with the Company Law of the People's Republic of China the Securities Law of the People's Republic of China As both the executor of decisions made by the Shareholders' Meeting and the decision-
the Code of Corporate Governance for Listed Companies and other applicable laws regulations and regulatory requirements making body for operations and management the Board is responsible for implementing
the Company has established a governance structure comprising the Shareholders' Meeting the Board of Directors and its resolutions of the Shareholders' Meeting and overseeing major matters such as strategic
specialized committees and management. In November 2025 the Company amended its Articles of Association 2 abolished planning operations and management and financial budgeting and final accounts fully
the Board of Supervisors and transferred its statutory powers to the Audit Committee of the Board of Directors. Board of playing the vital role in "developing strategies making decisions and preventing risks".Directors and
its Specialized The Board has established five specialized committees- the Strategy Committee the Audit
Committees Committee the Risk and Compliance Management Committee the Nomination Committee
and the Remuneration and Appraisal Committee-each with clearly defined responsibilities
and efficient operations.Kweichow Moutai Co. Ltd.It carries out day-to-day operating work within the scope of statutory authority and the
authorization granted by the Board.It is responsible for implementing Board resolutions regularly reporting work progress to
Party Committee Management
Shareholders' Meeting the Board advancing the efficient execution of production operations and reform tasks and effectively fulfilling the responsibilities of "planning business operations emphasizing
implementation and enhancing management."
Strategy Risk and Compliance
Discipline Committee Management Committee
Labor Union Inspection
Commission Board of Directors Nomination Remuneration and
Committee Appraisal Committee
Youth League Audit Committee
Committee
Management
Corporate Governance Structure
2 https://www.moutaichina.com/mtgf/articleFileDir/2025-11/29/6678389ca25f4aa58d13d71ba460dff2.pdf 3 https://www.moutaichina.com/mtgf/articleFileDir/2025-11/29/56319de7f4424d4482d409667bb67716.pdf
22 23Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
The Company regularly reviews its value chain and has developed and continuously optimized a risk management institutional
framework. In 2025 the Company streamlined and refined its institutional map across 23 areas including strategic management Board Effectiveness
corporate governance production management ESG management quality management risk and compliance management discipline
and supervision. In total 527 policies and systems were reviewed and consolidated including 5 fundamental systems 99 Level-1 systems In accordance with the Articles of Association and the Rules of Procedure for the Board of Directors the Board shall convene at least two
240 Level-2 systems and 183 Level-3 systems further strengthening its compliance and risk management defenses. meetings each year which may be held only when more than half of the directors are present and Board resolutions require the approval
of more than half of all directors. In 2025 the Company convened 16 Board meetings with a 100% attendance rate.The Company has established a sound director nomination and appointment mechanism. In accordance with the Articles of Association
Party Building directors serve a term of three years and are elected by the Shareholders' Meeting. The election process is jointly supervised by lawyers
shareholder representatives and other relevant parties to ensure fairness and effectiveness. As of the end of the reporting period the
Political Work Style Ideological Organizational Armed Forces Petitions and Trade Union & Youth
Development Development Development Development Confidentiality Management League Development average tenure of directors was 1.85 years.Corporate Culture Strategic Management With respect to independence the Company gives full play to the role of independent directors in decision-making participation checks
and balances and professional advisory services. In 2025 independent directors accounted for 42.86% of the Board. All members of the
Cultural Management Cultural Heritage Intangible Cultural Strategic Analysis & Strategic Deployment & Strategic Evaluation & Protection Management Heritage Management Formulation Implementation Adjustment Audit Committee were independent directors. The Nomination Committee and the Remuneration and Appraisal Committee were both
chaired by independent directors who also accounted for more than half of the members of each committee. In 2025 the Company
appointed Mr. Wang Xin an accounting professional as the convener of the independent directors.Corporate Governance Organizational Management
In terms of risk control pursuant to the Articles of Association the In 2025
Meeting Authorization Duty Fulfilment of Management of Board Operations Market Value Leadership Organizational Structure &
Rules Management Directors Supervisors and Senior Executives Control Management Team Optimization Risk and Compliance Management Committee of the Board must
include at least one legal professional with expertise in risk and
compliance management in order to ensure the professionalism Board meetings' independent directors
Research & Supply Network Production Brand of risk and compliance oversight. In 2025 the Company appointed Marketing & Services Development Management Management Management ESG Management Quality Management
attendance rate accounted for
Mr. Sheng Leiming a non-executive member with general expertise
in risk management as a member of the Risk and Compliance 100% 42.86%
Management Committee to provide guidance on risk management.of the Board
Board Diversity
Ecological & Environmental
Management Safety Management
Human Resources
Management Financial & Asset Management
Digitalization
Management
Promoting Board diversity is an important measure to protect shareholder rights and interests and to ensure prudent operations. As of
the end of the reporting period the Board consisted of seven members including three independent directors three female directors
and one employee director.The Company nominates director candidates based on multiple dimensions including professional qualifications work experience
cultural background capabilities and external appointments. Each year it evaluates the Board's structure and size to ensure diversity
and complementarity.Infrastructure Management Administrative Management Project Management
Overview of the Professional Backgrounds of Board Members
Professional Competence
Name Gender Position/Role and Responsibilities Industry Risk Management Financial Management
Experience Experience Experience
CHEN Hua Male Chairman √ √ √
Performance Analysis & Improvement
Director and Acting
Annual Objectives Analysis Improvement & Innovation WANG Li Female General Manager √ √ √
GUO Tianyong Male Independent Director / √ √
Compliance & Risk Management Discipline & Supervision SHENG Leiming Male Independent Director √ √ /
Internal Control Rights Protection WANG Xin Male Independent Director / √ √
Management Auditing System Risk & Compliance Legal Affairs
Discipline Supervision
Management Management
ZHOU Xue Female Director √ √ /
WEI Fang Female Employee Director √ / /
Company Institutional Framework
2425
Direction Authority & Objective Risk &
Management Responsibility Value Creation & Support & Outcome Bottom Line Management Management Management
Quality Analysis & IT Infrastructure Emergency
Supervision Management Response
Quality Operations Cybersecurity Management
Quality Operations Labor Outsourcing
Management IT System Management
Quality Target
Management Statistical Management Maintenance &
Servicing
Corporate Governance Intangible Asset
Management
Corporate Social
Responsibility Physical Asset Management Management
Management Innovation
Daily Operations Investment Management
Management
Environmental Fund Management Advertising
Management
Budget Management
Public Relations Consulting
Management Tax Management Services
Brand Promotion &
Maintenance Financial Management
Technological R&D
Work-in-Process Learning & Growth
Management
Production Compensation & Fixed Asset
Organization Performance Management Investment
Production Resource Employee Relations
Allocation Management
Production Target Recruitment & Allocation
Management Affairs Processing
Supplier Management Comprehensive Security &
Protection
Planning & Scheduling
Management Continuous Improvement Document Processing
Warehousing Emergency Response &
Management Rescue
Procurement
Management Operational Process
Measurement
Base Management Safety Objectives & Management
Responsibilities
R&D Process
Management Assessment & Inspection Energy
Management
Technical Resource Emergency Management
Management
Environmental Greening Equipment
Customer Relationship Management
Management Dual Carbon Management
Marketing Planning Pollution Prevention Maintenance
Demand Management Management
Environmental Compliance
Sales Management
Ecological Target Engineering
Market Analysis Management ManagementMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Remuneration Policy Risk and Compliance Management
Regarding the remuneration policy we have developed differentiated remuneration management systems and plans for The Company continues to strengthen institutional development resource investment and culture building systematically
directors and the management including fixed remuneration annual performance-based remuneration and tenure incentives enhancing its ability to identify respond to and control risks continuously enhancing risk and compliance management
to incentivize directors and managers to create long-term value. In 2025 we continued to refine the performance assessment capabilities.system for Board members taking into account our production operations and management the progress of business targets
the implementation of financial budgets and the performance of duties.Independent Allowances for independent directors are implemented in accordance with Governance
Directors resolutions of the Shareholders' Meeting.The Board of Directors is the highest decision-making body for risk management and compliance management and is
Directors responsible for governance and oversight. The Risk and Compliance Management Committee of the board is responsible
Remuneration of the employee director is assessed comprehensively in
Employee for guiding system planning and mechanism development. The office of the Risk and Compliance Management Committee
Director accordance with the Company's remuneration management system and is housed in the Legal and Compliance Department and its participating units include the Audit Department Accounting
individual performance appraisal results. Department and other departments which jointly advance relevant work.A mechanism of "positive incentives + negative constraints" is adopted to The Board of Directors
Management assess management performance using positive indicators to stimulate
initiative and negative indicators to ensure compliant operations.Risk and Compliance Management Committee of the Board
Remuneration Management Mechanism
Legal and Compliance Department
Our Board of Directors adopts a mechanism that features "positive incentives + negative constraints" to assess the business
performance of the management team. It uses positive indicators to boost the enthusiasm of the management and negative Audit Department Finance Department Discipline Inspection Commission
indicators to ensure their operational compliance thereby strengthening the application of the assessment results and rigid Organization and Human Resources Department and Corporate Development Department
fulfillment. The Company has formulated the Measures for Performance Assessment of Members of the Management and
the Measures for Remuneration Management of Members of the Management and other institutional documents which take Risk and Compliance Governance Structure
sustainability-related indicators such as safety quality environmental protection compliance requirements and corporate
management as an important consideration in evaluating the performance and adopts demerit points as a means of The Company issued the Measures for Risk Management the Special Action Plan for Enhancing Risk Management (2024-2026)
restraining the negative events related to ESG. The Company has linked compliance management to compensation stipulating and the Detailed Rules for Risk Management Operations thereby establishing a three-tier management structure covering
that if an employee is subjected to retention administrative detention or other coercive measures by judicial authorities due execution guidance and supervision.to disciplinary or legal violations the relevant compensation will be suspended.Details of the Remuneration of Board Members4 Risk and Compliance Management Structure(Unit: RMB 10000)
Name Position Remuneration from the Listed Remuneration from the Group Company (Including tax) Company (Including tax)
Execution Guidance Supervision
CHEN Hua Chairman / 9.55
WANG Li Director Acting 5General Manager / 147.53
GUO Tianyong Independent Director 20 / Business and Functional Functional Lead Departments Departments Supervisory Departments
SHENG Leiming Independent Director 20 /
R esponsible for identifying Coordinate and guide Perform risk management supervision
WANG Xin Independent Director 20 / assessing responding risk identification and and inspection duties provide
to and optimizing the assessment response and assessment opinions and rectification
ZHOU Xue Director / 88.48 management of risks in control and improvement recommendations on work implementation
the course of business and enhancement efforts. and promote accountability in accordance
WEI Fang Employee Director 89.8 / advancement and day-to- with regulations.day operations.U rge relevant functional departments to
4 The statistical period for the remuneration is from January 1 2025 to December 31 2025. complete rectification tasks for risk control
5 The General Manager's remuneration includes the performance incentives for the period from 2021 to 2023. within the prescribed time limit.
26 27Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Strategy
Case Special Training on Contract Management
The Company formulates risk response strategies and improves risk management mechanisms to provide assurance for orderly
operations. In 2025 the Company conducted special training
focused on risk prevention and control in contract
management covering key departments such as
Risk Impacts ecological and environmental protection procure-
ment and audit. Using case analysis the training
Across six major risk categories the Company has identified risks in areas such as marketing investment construction and explained risk identification and compliance
digitalization that may affect its business. The Company needs to focus on preventing operational safety and information essentials in contract management and provided
system risks while also proactively addressing compliance and sustainability challenges arising from resource development guidance for business departments to standardize
and technological iteration so as to continue building a leading edge in compliance. contract management.Special Training on Contract Management
Six Major Risks
Risk Culture Development
Strategic Market Financial Legal Operational Public
Risk Risk Risk Risk Risk Opinion The Company attaches great importance to risk culture development and provides risk management awareness training for Risk all employees including all directors strengthening risk culture building.Response Strategies Case Special Training on Risk and Compliance Management
The Company adheres to a combination of forward-looking planning and preventive control strengthens the construction of In 2025 the Company carried out special training on risk and compliance management focusing on topics including
compliance culture and enhances capabilities in risk early warning response and prevention. Based on a systematic review of ISO 37301:2021 and GB/T 35770 standards and specifications. Through systematic explanation of standard
its risk database the Company identified its top ten risks through assessment improved risk response processes and enhanced requirements and practical coaching the training deepened employees' understanding of risk and continuously
risk prevention and control effectiveness from multiple dimensions. improved legal literacy and compliance awareness across the workforce.Response Process Response Dimension
Pre-event In-event Post-event Risk Control Responsible Response
Prevention Control Response Objective Entities Measures
Risk Response Plan
Compliance Management
Special Training on Risk and Compliance Management
The Company has issued institutional documents such as the Measures for Compliance Management and the Measures for
Internal Control Management to strengthen compliance reviews of major decisions economic contracts internal rules and
regulations and new product development.In accordance with the Decision-Making System for Related-Party Transactions the Company has clarified the basic principles Financial Impact
decision-making procedures and division of authority for related-party transactions thereby ensuring fair and reasonable
pricing lawful and compliant procedures and adequate information disclosure. The Company strictly implements the
requirements of the Guidelines of the Shanghai Stock Exchange on the Self-Regulation of Listed Companies No.5-Transactions In 2025 the Company invested more than RMB 40 million in risk and compliance management primarily for the development 6
and Related Transactions ensuring that the amount of related-party transactions remains within the quotas approved by the of its risk management system and compliance mechanisms . The company continues to strengthen resource allocation and
Board. When deliberating on related-party transaction proposals related shareholders and directors abstain from voting in reinforce risk and compliance management thereby preventing potential major losses and enhancing business resilience and
accordance with regulations. financial soundness.In 2025 the Company organized special compliance management training covering the prevention of risk points in contract 6 T his includes costs related to the construction of risk management systems and compliance mechanisms such as those for establishing a smart legal affairs
management communication of laws and regulations and common employee misconduct and disciplinary violations system and lawyer professional training. Specific operational risk prevention and management costs in relevant business processes are detailed in the
thereby strengthening employees' awareness of risk prevention. respective sections.
28 29Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Risk Management Indicators and Targets
The Company has established a robust risk management process. Based on industry regulatory requirements corporate In 2025
strategic objectives and the operating environment the Company assesses the severity of various risks regularly conducts
internal control audits and external audits of risk management and continuously improves risk management practices. In terms of risk prevention and control In terms of compliance management
organized reviewed conducted conducted
R isk assessments are conducted regularly to classify Risk identification is organized quarterly. Based on
and grade the risks in the risk database. business processes each department reviews risks 3 1455 123 282
During initial assessment risks are categorized as that may affect the achievement of the Company's or
business objectives analyzes their causes and potential rounds of risk identification contracts policy reviews advertising reviewsgeneral relatively significant or major according to
their potential impact and assessed against accepta- impacts and develops a department-level risk register.across business lines
ble thresholds. The Company consolidates all risk lists into a company-
identified more than provided issued
During re-assessment evaluate risks across two di- level risk database for centralized management and
mensions: likelihood of occurrence and consequence dynamic updating of risk information. 960 466 13
severity.risk points legal consultations written legal opinions
Risk Assessment Risk Identification
Data Security and User Privacy Protection
The Company implements the overall security strategy that is "known and trusted manageable and controllable." It has
established a network and information security management system covering prediction protection detection and response
achieving zero cybersecurity incidents and zero user privacy leaks throughout the year.Network and Information Security Management
Risk Management
Process The Company continues to improve policies and procedures strengthen technical defenses enhance emergency response
Risk Response Risk Management Improvement mechanisms and reinforce audit assessment and culture building thereby continuously improving its network and
information security management.Tiered responses are Based on third-party external audit opinions the
implemented based on Company develops and implements improvement
assessment results. plans to enhance the effectiveness of environmental Network and Information Security Management System
General and relatively risk management across all business operations. The Company has established a systematic network and information security management
signif icant r isks are I t also carries out risk and compliance self-assess- framework. It sets up a Leading Group on Cybersecurity and IT headed by the Chairman
addressed through key- ments and prepares an annual risk management and the General Manager with an office under the Digital Technology Management
point control measures summary report to support continuous improve- Division responsible for advancing network and information security management across
while major risks are ment. all functional units. Meanwhile the Board Risk and Compliance Management Committee
managed through dedi-
Risk Management Audit oversees strategic decision-making on privacy and data security incorporates user privacy cated response plans and data security into the Company's governance red lines and ensures the orderly
to enable targeted and execution of relevant work.precise control. I n 2025 the Company engaged an independent third party to conduct internal control audits covering headquarters and all subsidiaries and branches comprehensively The Company strictly complies with the Cybersecurity Law of the People's Republic of China
assessing the soundness and effectiveness of the internal risk control system. the Data Security Law of the People's Republic of China the Personal Information Protection
E xternal audit work conducted in strict accordance with relevant laws regulations and Law of the People's Republic of China and other applicable laws and regulations. In
regulatory guidelines focused on key business areas including corporate governance accordance with internal policies such as the Network and Information Security Management
development strategy corporate culture marketing and channel management Measures the Company promulgated documents including the Provisions on Data Security
production and investment management asset and fund management R&D and and Personal Information Protection during the reporting period covering the company Information Security
innovation human resources engineering projects procurement and contract manage- and its subordinate units. In 2025 the Company maintained the effective operation of its Management System Certificate
ment. We systematically conduct risk identification and process validation to drive dual ISO 27001 information security management system certification further consolidating the
improvements in corporate governance capability and operational efficiency. governance foundation for network and data security.
30 31Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Closed-Loop Network and Information Security Management Cybersecurity Audit and Risk Assessment
The Company implemented the "three synchronizations" requirements for network and information security and applied the In 2025 the Company advanced cybersecurity audits and risk assessments. Based on third-party audit results it issued the
PDCA cycle to build a closed-loop security operations management system covering the full process of prediction protection Information Systems Audit - Internal Report of Kweichow Moutai Co. Ltd. to continuously guide business improvement. It also
detection and response thereby forming a continuously optimized and dynamically adaptive network and information used technique such as vulnerability scanning penetration testing and configuration reviews together with policy reviews
security governance mechanism. In 2025 the Company achieved its target of zero cybersecurity incidents and recorded no and personnel interviews to assess risks relating to networks hosts applications and data.data security incidents.The Company also promotes the implementation of the Multi-Level Protection Scheme (MLPS) for cybersecurity. In July 2025
it invited a third party to conduct annual security assessments of 14 Level-III systems. All systems passed the MLPS evaluation
with the average compliance rate increasing from 76.79% in 2024 to 89.33% reflecting continued progress in cybersecurity
P D graded protection.Strategy
Threat Traffic S ecurity S ecurity Network and Information Security Culture Building
Intelligence Monitoring Hardening Isolation
E arly Warning Asset Planning A ccess Control Least Privilege
Notice Identification The Company attaches importance to network and information security culture building and continues to strengthen its
P olicy S ecurity professional talent pool. During the reporting period the Company carried out specialized cybersecurity training and
Attack R isk Optimization Baseline
Prediction Assessment organized participation in professional skills competitions at the municipal provincial and national levels where it won
Network and awards fully demonstrating its technical accumulation and talent development achievements in cybersecurity.Information Security
Management
Measures
Construc- Case Cybersecurity and Licensed Software TrainingOperation tion
A C
In August 2025 the Company organized its annual cybersecurity and
licensed software training in a combined on-site and video-linked
Incident T raceability and Penetration V ulnerability
Handling Evidence Collection Testing Scanning format. The program covered cybersecurity officers and staff from
the Company and its subordinate units as well as representatives
Security R isk Baseline Compliance
Drills Mitigation Verification Testing of suppliers and distributors. The training was delivered by external
professional instructors and focused on both awareness enhance-
A nalytical Real-time Breach Security Audit
Judgment Notification Detection ment and practical skills with emphasis on malware protection
phishing attack identification compliant use of licensed software
Network and Information Security Management Measures and data security management thereby strengthening employees'
ability to respond to cyber threats and standardizing operational
practices. Cybersecurity and Licensed Software Training Site
Prediction (P) Protection (D)
E stablish a proactive defense system. Through quarterly I mplement security hardening and other protective
risk assessments third-party penetration testing and measures as planned and regularly conduct emergency
vulnerability scanning the Company systematically drills using practical scenarios such as website defacement
identifies risks and prevents data leakage at the source. It data leakage and server intrusion. Employees who discover
also formulates the Provisions on Cybersecurity Emergency security incidents must report them immediately and Case Network and Security Vanguard Skills Competition
Management and the Cybersecurity Emergency Response confirm by phone. In urgent circumstances an initial brief
Drill Plan clarifying the responsibility principle that report may be made first followed by a supplementary
compliant use is everyone's responsibility. report within 24 hours. Late reporting false reporting In September 2025 the Company held a Network and Security
concealment and omission are strictly prohibited. Vanguard Skills Competition under the theme "Deepening
Technical Expertise Cultivating Craftsmanship and Safeguarding
Detection (C) Response (A) Moutai Through Cybersecurity." The event adopted a "Theory + Practice" format and focused on core capabilities such as
V erify the operability of contingency plans through B ased on the conclusions drawn from risk assessments penetration testing cyber offense and defense and emergency
emergency drills and assess response capabilities. Relying drill evaluations and incident handling the Company response. The event built a professional platform for learning and
on a full-process mechanism of pre-incident supervision dynamically optimizes security strategies and emergency practice through competition and effectively enhanced company-
and early warning incident-time emergency handling and plans remediates system weaknesses and continuously wide cybersecurity awareness and practical capabilities.post-incident investigation and evaluation the Company improves protection capabilities. Network and Security Vanguard Skills Competition Site
tracks checks and handles security incidents.
3233
P
Known and Trusted rediction
Det Manageable andecti Controllableon
tio
n
rot
ec
P
pon
se
ResMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
User Privacy Protection Business The Company continues to strengthen its business ethics management system deepen integrity governance and culture building improve
Ethics whistleblower protection mechanisms and foster a clean and upright The Company formulated and publicly disclosed the Kweichow Moutai Co. Ltd.Data and Privacy Policy 7 business ecosystem. clearly defining the purposes and methods of personal
information collection as well as the purposes and permissions for third-party
access to data while ensuring customers' rights to access correct and delete their
personal data. The Company continues to improve its information security system
and process mechanisms and steadily implements various data subject rights to Business Ethics Management
the extent reasonably practicable thereby effectively safeguarding customers'
legitimate rights and interests in personal data. The Company has continuously enhanced its governance structure for business ethics jointly ensuring the effective
By integrating multi-dimensional security logs and connecting to external operation of the business ethics management system. The Risk and Compliance Management Committee of the Board is fully
threat intelligence the Company upgraded its Falcon AI engine to accurately responsible for coordinating guiding and oversighting of business ethics and compliance issues. The Company has built a
identify advanced persistent threats (APTs) and risks such as abnormal data Five-Sphere Integrated coordinated supervision working mechanism to strengthen cross-entity collaboration and process
flows significantly improving threat response efficiency. It implemented zero- connectivity and dynamically improve a supervision and management system covering all levels. Where fraud corruption
trust unified identity management and access control carrying out standardized or bribery cases cause material impact or losses to the Company the management team promptly report them to the Board.governance across four dimensions-accounts users permissions and applications- The Company and its subsidiaries are equipped with discipline inspection bodies or full-time/part-time discipline inspection
to strengthen the security defense for user data. In operating the iMoutai platform personnel responsible for investigating violations of laws and regulations and receiving leads on issues.the Company applies strict masking of user information at the interface level and
encrypted storage in databases. It follows the principle of minimum necessity in
obtaining permissions and all permissions require users to grant authorization Risk and Compliance Management Committee of the Board
voluntarily when first using the service. The Company also optimized the Notice on Personal Information Protection
Third-Party Network and Information Security to clarify the information security Impact Assessment (PIA) Two-Star Commission for Discipline Inspection
responsibilities and requirements of both parties in cooperation and strengthen Certification Certificate
the security management of third-party partners.Company-level and Subsidiary Discipline Inspection Bodies
In 2025 the Company engaged a professional third-party organization to conduct
a compliance audit of personal information protection for the iMoutai App Business Ethics Management Structure
covering all stages of the data life cycle and focusing on compliance in areas such
as data minimization user authorization mechanisms and security safeguards.The Company obtained the Personal Information Protection Impact Assessment
(PIA) Two-Star Certification marking an industry-leading level of compliance
transparency and security assurance in its personal information processing Coordinated Referral of
activities. Joint
Dynamic
Review Information Supervision
Supervision
Meetings for Problem
Problem Clues
of Issues Sharing and Special and Related Supervision Rectification Situations
During the reporting period Operating Process of the Five-Sphere Integrated Coordinated Supervision Working Mechanism
the Company recorded no incidents
involving leakage of user privacy The Company insists on lawful and compliant operations and complies with the Company Law of the People's Republic of
information. China the Anti-Unfair Competition Law of the People's Republic of China the Anti-Monopoly Law of the People's Republic of
China and other applicable laws and regulations. It has issued the Business Ethics Policy of Kweichow Moutai Co. Ltd. 8 and
other institutional documents clearly setting out the codes of conduct to be followed by employees suppliers and other
stakeholders.
7 Date and Privacy Policy 8 B usiness Ethics Policy
34 35Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Policies Regarding Business Ethics Business Ethics Audit
Each year the Company engages independent third parties to conduct anti-corruption and business ethics audits across all
S everal Measures of the Party P rohibitive Provisions for Integrity A nti-Monopoly Compliance Guide operations sites and subsidiaries with full coverage of all business areas and key risk points. The audits cover areas such as
Committee of the Company for in Construction of Engineering policy formulation implementation enforcement and compliance with its ethics policies risk prevention and control expense
Further Strengthening Oversight Projects A nti-Unfair Competition management contract management training delivery official reception license and permit management the verification of
for Leadership Teams and Their Compliance Guide its monitoring and detection systems and the effectiveness of enforcement and response to ethics incidents. Based on the
Chiefs P rohibitive Provisions for W ork Safety Compliance Guide ISO 37001 Anti-Bribery Management System standard the Company also conducts targeted reviews of the effectiveness of Procurement Integrity its business ethics monitoring and detection system. Among these the effectiveness of the reporting mechanism has passed
N egative List of Employees' Acts P rohibitive Provisions for Integrity E cology and Environmental targeted review. Audit results show that the Company has established a full-process response mechanism which ensures smooth
M easures for Handling Violations in Resources Supply Protection Compliance Guidelines reporting channels for ethics incidents centralized information collection and management closed-loop investigation and
of Rules Disciplines and Laws by R egulations on Supplier disposal and follow-up rectification and prevention. The Company continues to monitor and improve audit findings to ensure
Employees P rohibitive Provisions for Integrity Management for Packaging and the effectiveness of its business ethics monitoring and detection system.in Marketing Personnel
M anagement Regulations Storage Materials The Company also carries out annual internal reviews and implements checklist-based management across nine key areas-
Prohibiting Employees from Using P rovisions for the Registration and Filing of Construction R egulations on Supplier
procurement e-commerce advertising placement engineering and construction organizational and personnel management
Moutai Baijiu for Private Benefit Management for Organic Raw equipment and energy management ecological and environmental protection materials supply and sales-to dynamically of Engineering Projects and
Investment of Fixed Assets Materials
identify risks investigate hidden issues and drive rectification through audit findings thus establishing "one supervision
checklist for each field." In 2025 the Company identified 207 risk points and formulated 421 preventive measures.Integrity Management of Relevant Parties
The Company upholds the philosophy of integrity operations firmly cracks down on corrupt conduct and carries out anti-money
laundering and anti-unfair competition communication and education in an orderly manner thereby ensuring compliant and The Company fosters a clean and upright business ecosystem and publicly discloses the Business Ethics Policy of Kweichow
stable operations. Moutai Co. Ltd. and the Kweichow Moutai Co. Ltd. Supplier Code of Conduct9 clearly setting out anti-corruption and anti-
bribery requirements for suppliers and distributors. Anti-commercial bribery clauses are included in contracts and integrity
responsibility letters are signed.Principles of Integrity and Business Ethics The Company has built a supply chain compliance ecosystem in which risks are controllable violations are traceable
and continuous improvement is possible. It requires suppliers to formulate anti-corruption policies and has established a
verification process of "document collection - review and scoring - application of results" under which materials submitted by
Fair Competition Comply with laws and regulations governing fair competition and eliminate
suppliers are strictly examined to verify the effectiveness compliance and implementation of their anti-corruption policies.monopoly and unfair competition. In 2025 the company engaged a third party to conduct audits on suppliers' business ethics and anti-corruption management
practices. The audit scope covered the implementation of the company's business ethics policies toward suppliers market
Anti-Commercial Bribery Enforce a zero-tolerance policy and strengthen compliance management and conduct contract terms and assessed the effectiveness of the suppliers' ESG assessment mechanisms and whistleblowing
and Anti-Corruption oversight of business partners. channels.Anti-Money Laundering Strictly prohibit participation in or facilitation of any form of money laundering. Anti-Corruption and Anti-Bribery Requirements for Suppliers
Prohibition of Insider Strictly prohibit insiders from using undisclosed information for trading or from Kweichow Moutai Co. Ltd. Business Ethics Policy
Trading disclosing such information. We strengthen the management and control of anti-commercial bribery and anti-corruption risks among business
partners; clearly state anti-commercial bribery and anti-corruption declarations and requirements in business
Anti-Fraud Strictly prohibit employees and stakeholders from harming the Company's interests interactions; prohibit any commercial bribery and corruption.through fraud or other improper means.We require all business partners including all suppliers to formulate anti-corruption policies and implement
corresponding programs to verify compliance.Kweichow Moutai Co. Ltd. Supplier Code of Conduct
W e implement monitoring programs for all critical suppliers to verify their compliance with anti-corruption and other
compliance policies.In 2025 the Company carried out a comprehensive review and taken strict actions against suppliers who have violated the
Company's anti-corruption policies in recent years placing seven suppliers involved in serious violations or disciplinary breaches
on the blacklist.
9 https://www.moutaichina.com/mtgf/attachDir/2024/06/2024062118575672956.pdf
36 37Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Integrity-Based Operations and Culture Building
Case Anti-Money Laundering Awareness Training
The Company regularly conducts integrity education activities including policy roadshows warning education field learning
and communication on integrity culture to reinforce consensus on integrity-based operations. In August 2025 the Company together with the head office of Bank of China organized training on cross-border
funds management and accounting statement operations. The training focused on the identification and prevention
In 2025 of anti-money laundering risks and provided detailed interpretation based on practical cases such as cross-border trade fund settlement and risk management effectively enhancing employees' risk awareness.to the Board management all employees (including full-time part-time seasonal temporary fixed-term and
contractual employees) suppliers and other stakeholders
the Company delivered a total of covering
1048sessions 34992
of business ethics and integrity culture training employees
covering with an employee cover rate of
800+100%
Anti-Money Laundering Training
suppliers
Integrity Training for Executives and Employees
Integrity Training for Relevant Parties
The Company carries out diverse and content-rich integrity education activities enhancing integrity awareness and reinforcing
the line of defense against misconduct. The Company attaches great importance to compliance construction throughout the supply chain ecosystem and extends
business ethics training to all partners including suppliers and contractors.Case On-site Integrity Education Activity
Case Special Business Ethics Training for Stakeholders
In 2025 the Company organized senior executives personnel in key positions and grassroots Party organizations to
visit an integrity education base to receive integrity culture education. Through centralized viewing of educational The Company invited third parties to deliver special business ethics training to all suppliers contractors and other
videos such as One Day in Life and Personal Testimonies as well as on-site instruction from disciplinary personnel the partners. The training was mainly conducted offline supplemented by online participation. It focused on legal
Company further promoted the cultivation of integrity awareness. requirements and often-overlooked forms of commercial bribery providing in-depth analysis of compliance risks in
key links such as bidding and procurement and business entertainment thereby strengthening the prevention and
control of integrity risks in the supply chain.On-site Integrity Education Activity for Executives Business Ethics Training at the Supply Chain Conference
38 39Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Whistleblower Protection
Case Integrity Briefing for Contractors
The Company continues to improve the work of monitoring reporting and handling complaints relating to business ethics.In compliance with the Regulations on Letters and Visits and the Rules of the Discipline Inspection and Supervision Organs
In October 2025 the Company held a symposium for contractors and delivered an integrity briefing to business for Handling Accusations and Complaints the Company formulated the Measures for the Management of Letters and Visits
partners explaining anti-corruption policies and compliance requirements clarifying business ethics red lines and clearly defining the division of responsibilities and operating procedures for complaints and reports so as to ensure timely
building a clean mutually beneficial cooperation ecosystem. handling.The Company encourages employees users and other stakeholders to supervise and report violations of discipline
regulations and laws and publicly discloses smooth reporting channels including a reporting hotline reporting website and
reporting mailbox. Upon receiving reports the Company handles them strictly in accordance with the prescribed process.Receive Reports Collective Review
Register and P reliminary Handling and
Assign Number Screening Comprehensive Processing
S upervision and
C lassify and R esponse and Management
Transfer Analysis Feedback
Integrity Briefing for Business Partners
Petitions
Department Commission for Discipline Inspection
Industry Culture Co-Building
The Company worked with industry partners to build a self-disciplined and transparent industry ecosystem. Handling Workflow for Reports and Complaints
Case Honoring Commitments with Integrity and Safeguarding Jiang-flavor Heritage Reporting Channels
In November 2025 the "Chishui River Valley · Chinese Jiang-flavor" regional brand was officially launched in Telephone: 0851-22385896 M ailbox: E levator entrance 6th Floor Office Building of
Guizhou. As one of the first participating companies in the brand matrix the Company jointly proposed the Regional Kweichow Moutai Co. Ltd.Brand Convention . Centered on the core commitment to "strengthen self-discipline and pursue development Website: http://guizhou.12388.gov.cn
together" the convention advocates honest and lawful operations laying a foundation for long-term win-win
cooperation and healthy development in the production region.We have formulated policies that clearly out-line the methods for protecting whistleblowers. We promise to strictly keep the
whistleblower's personal information such as name workplace confidential home address phone number and email as well
as the reporting information. It is strictly prohibited to verify the whistleblower's handwriting Internet Protocol (IP) address and
other information without authorization. In addition we accept anonymous reports to ensure that whistleblowers are protected
from any form of retaliation.If a whistleblower is threatened or victimized due to reporting and accusing and files an application for protection we will
provide timely protection in accordance with the rules and regulations. lf a person being reported retaliates (against the
whistleblower) by jeopardizing personal safety and damaging property or reputation he or she will be seriously dealt with in
accordance with the rules and disciplines suspected of violating the law will be transferred to the judicial organs in accordance
with the law.Promotion Event for the "Chishui River Valley·Chinese Jiang-flavor" Regional Brand
In 2025 the Company recorded no violations involving discrimination or harassment leakage of customer privacy data conflicts
of interest improper competition money laundering or insider trading.
40 41Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Technological The Company continued to strengthen its technological innovation Innovation Management Datacapabilities strategically advancing key R&D initiatives and coord-
Innovation inating basic research applied R&D commercialization of achieve- 2024 R&D investment 2025 R&D investment Year-on-Year Changements and industrialization in an integrated manner. It accelerated
digital transformation and worked to build an industry-leading hub 695million 803million 15.54%
for innovation in distilling science and technology.Innovation Driven
Technology Innovation Platform
With technological innovation as its core growth engine the Company optimized its innovation governance mechanisms and
deepened collaboration across industry universities and research institutes. It achieved important breakthroughs in key
technologies such as raw-material breeding brewing mechanism analysis and green and low-carbon development thereby The Company continues to build out its R&D and innovation platforms anchored by the state key laboratory of quality and safety
effectively enhancing the technological capabilities and sustainable development capacity of the industrial chain. of Jiang-flavour Baijiu. Our research agenda spans from quality and safety assurance biological resource development brewing
process innovation to ecological conservation.Innovation Management System State Key Laboratory of Quality and Guizhou Provincial Key Laboratory of
Safety of Jiang-Flavour Baijiu Industrial Microbiology
The Company has established a research and development management system featuring overall management by the R&D
department technical decision-making by the Science and Technology Committee and detailed implementation by functional
departments. Relevant regulations have been formulated to standardize the implementation of Ranking Challenge projects. Focusing on the quality and safety control needs of The laboratory focuses its research on the
In 2025 the Company completed the project approval and review of 14 Ranking Challenge initiatives. Meanwhile it issued the entire Jiang-flavour Baijiu industry chain the discovery of microbial strains for the fermentation
the Administrative Provisions on the Statistical Management of R&D Investment budget accounting and statistical reporting laboratory has deeply advanced work in quality industry the development of industrial microbial
requirements thereby improving the precision of R&D investment management and risk prevention and control capabilities. and safety risk identification detection technology information resources as well as industrial
development and application and risk control innovation for high-value transformation and
The Company complies with the Law of the People's Republic of China on Scientific and Technological Progress the Regulations technology research. It has developed technical comprehensive application. It held the second
of Guizhou Province on Progress of Science and Technology the Measures for the Review of Science and Technology Ethics methods such as organic oxygenation coupled with meeting of the Laboratory Academic Committee
(Trial) and other applicable laws regulations and policy requirements. In accordance with internal policies such as the ICP-MS for inorganic element analysis in Baijiu and which further extended the layout of the
Administrative Measures for Project Management and the Administrative Provisions on Science and Technology R&D Project actively promoted the application of quality and laboratory's research directions issued 7 open
Management it applies full-process standardized management to technology innovation research activities and earnestly fulfills safety risk monitoring technologies. research projects and has undertaken a total of 32
its responsibilities for science and technology ethics review and risk prevention and control. scientific research projects.Technology Innovation Strategy and Targets
Distilling Engineering Technology Ecosystem Field Scientific Observation and
Research Center Research Station in the Middle Reaches of
Technology Innovation Strategy Technology Innovation Targets the Chishui River Guizhou Province
Empowering the industrial chain with the innovation I n 2025 the Company's overall innovation capability The center has promoted scientific research in
chain and supporting the Company's development; score reached 789.9 meeting the target. intelligent manufacturing green and low-carbon The station's operations are structured around
strengthen talent and platform construction solidify the development circular economy and other fields four strategic priorities: upgrading observational
foundation for innovation delve into the research of "4 By 2027 the target is to raise this score to 800. across the Baijiu industry chain; integrated machine infrastructure advancing foundational ecological
dimensions + five major core technology systems" vision and inertial sensing technologies to build an research enhancing public service capabilities and
enhance comprehensive strength in technological innova- acquisition system for Baijiu-making techniques strengthening operational support systems. We
tion and lead the innovative development of China's developed quantitative evaluation and visual have steadily elevated the Chizhong Field Station's
Baijiu industry. reconstruction methods for distilling operations and research and monitoring capacity collecting over preliminarily achieved 3D visualization of key Baijiu- 450000 standardized data points on water soil air
making procedures such as rice steamer loading and and biodiversity in the Moutai production region.shovel operation. This year the station also hosted 4 science outreach
events and awarded 4 competitive open research
grants.
42 43Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
R&D Value Chain Layout Transformation of Scientific and Technological Achievements
The Company has established a full-chain R&D system covering upstream research on brewing raw materials and environmental The Company has delivered a robust pipeline of transformative research breakthroughs across brewing raw material
conditions midstream analysis of the brewing process and downstream product quality control and waste management. It has optimization flavor profile refinement microbial ecology and end-to-end green and low-carbon development. We are
formed a systematic layout based on the Four Dimensions research framework for raw-material cultivation and centered on the accelerating the transformation of these innovations into real-world industrial applications driving deeper integration between
Five Major Core Technology Systems for the brewing process enabling coordinated development across the entire industrial technological advancement and production practice to fuel sustainable high-quality growth for the entire Baijiu industry.chain.Key Technological Breakthroughs in
Research on Brewing Raw Materials
Improved Basic Research Molecular breeding technology for raw materials: built a DNA fingerprint Seed
Varieties System database for sorghum used in Baijiu production and developed a 10K sorghum gene chip laying a solid foundation for sorghum breeding
varietal identification and genetic research.Process
Food Safety Technology
Control R aw-material quality testing technology: innovatively developed a Control
Healthy Raw Material Favorable System Brewing rapid testing model and visualization platform based on near-infrared System
Ecology Cultivation Land Process and Raman spectroscopy enabling fast non-destructive and precise
analysis of starch structures in sorghum and fermented grains.S mart cultivation management: reconstructed Sentinel-2 multispectral
imagery with sub-meter spatial resolution enhancement and time-
Quality series data effectively overcoming application bottlenecks caused by Baijiu Body
Effective Evaluation Design System persistent cloud cover and rain in Guizhou and the shortage of high-
Methods System resolution optical imagery thereby providing high-quality remote-
sensing data support for precise regional crop identification."Four Dimensions" Research Five Major Core Technology Systems
Fruitful Results in Research on
Flavor and Food Safety
In 2025 the Company actively built an open and collaborative industry-university-research network advancing more than 150
collaboration projects throughout the year with leading domestic research institutes and universities including the Institute of
Microbiology of the Chinese Academy of Sciences the Institute of Hydrobiology of the Chinese Academy of Sciences Tsinghua A dvanced 24 R&D projects during the year generating 14 research
University Zhejiang University and Shanghai Jiao Tong University. These efforts injected strong momentum into the deep outputs and translating nine achievements into applications.integration of the industrial chain and the innovation chain and into the cultivation of new quality productive forces.Achieved major progress in the analysis of flavor compounds newly
identifying more than 1000 low-volatility compounds in Moutai Baijiu
and overcoming a key technical bottleneck.Innovatively established a consumer perception description system and
developed a wearable digital odor player providing a new pathway for
2025 R&D projects 2025 Advanced applicable technologies consumer perception and digital expression of Baijiu quality.
carried out developed or introduced
251projects 40projects
44 45Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
2025 Technology Innovation Awards (Partially Listed) The Company participated in the compilation and revision of six national standards such as the Digital Supply Chain Maturity
Model the General Rules for Evaluation of Food Traceability Systems and the Requirements for Greenhouse Gas Management
Systems. It also actively participated in the formulation and revision of 36 national industry local and association standards
Award Achievement Awarding Body including the General Rules for Baijiu Quality; carried out reviews of 22 national industry and association standards including
Terminology for Sensory Evaluation of Baijiu as required; and continued research for two national standards: Quality
Distillation system technology based on CO2 Requirements for Baijiu Part 4: Jiang-flavour Baijiu and Quality Requirements for Baijiu Part 1: Nong-flavor Baijiu. In doing so National Catalogue of Key
Low-Carbon Technologies for heat pumps for energy saving efficiency
General Office of the the Company fulfilled the responsibilities expected of an industry-leading enterprise.Promotion (Fifth Batch) enhancement carbon reduction and waste
Ministry of Ecology and
heat recovery Environment
2025 First Prize of the China Spatiotemporal succession analysis of the Case Breaking Through Traditional Process Bottlenecks: Moutai's High-Temperature
National Food Industry micro-ecology of stacking fermentation in China National Food Daqu Research Opens a New Path for Better Quality and Higher Efficiency
Association Science and Jiang-flavour Baijiu and innovative application Industry Association
Technology Award of functional microorganisms The Company's project "Study on the Mechanism of High-
Temperature Daqu Formation and Its Application" addressed
First Prize of the China Alcoholic Rapid testing technology and equipment
Drinks Association Science and development for important nitrogen- China Alcoholic
key issues such as limited understanding of the functions and
Drinks Association differentiation mechanisms of high-temperature daqu and the Technology Award containing compounds in Jiang-flavour Baijiu lack of quantitative control models. It innovatively integrated
a multi-omics research technology system covering microbial
Second Prize of the China National Construction and application of a proteomics com munities enzyme systems and material systems in high-
Light Industry Council Science analysis system for high-temperature daqu China National Light Industry Council temperature daqu systematically clarifying the functional and Technology Progress Award used in Jiang-flavour Baijiu characteristics and differentiation mechanisms of different types
of daqu. On this basis the Company built for the first time a
statistical model for high-temperature daqu differentiation Appraisal Meeting of Scientific and Technoloaical
quantifying the scientific ratios of yellow white and black daqu. Achievements of "Study on the Mechanism of High-
2025 Highlights of Scientific and Technological Outputs It provides a scientific basis for shifting Daqu-making from Temperature Daqu Formation and Its Application"
experience-based control to precise control.Unit 2024 2025
Patent applications pieces 83 107
Patent grants pieces 49 60 Case Technology-Enabling Industrial Upgrading: The Moutai Baijiu Brewing Machine
Learning System Ushers in a New Paradigm for the Digital Management and Control
Valid patents pieces 329 388 of Traditional Brewing
Of which: invention patents pieces 79 105 Through the development and application of the Baijiu Brewing Machine Data Collection and Analysis
Of which: utility model patents pieces 76 100 Learning System the Company has effectively addressed a major industry
Data Analysis
Data Application: Production
Site Application Workshop Moutai Baijiu-Making Moutai Baijiu-Making 5G Edge Cloud
challenge: the heavy reliance of traditional brewing processes on experience Application Production Craft Data Warehouse Craft Model WarehouseManagement Application Internet Machine Artificial
of Things Vision Big Data Intelligence
Of which: design patents pieces 174 183 and the difficulty of achieving precise quantification. By deeply integrating 5G Network
advanced digital technologies with traditional brewing techniques the Collection Terminal
Academic papers published pieces 26 49 Infrared Intelligent 2D Camera Camera 3D Camera SensorCompany has not only enabled precise control of core brewing parameters
Production Factors
Of which: SCI-indexed papers pieces 22 27 and more efficient inheritance of brewing know-how but has also provided
Man Machine Material Method Environment
Temperature Location Area Time Status Count …
a practical model for the digital management and control of traditional Grain Moistening Steaming and Distilling Spreading Cooling and Qu Mixing Stack Fermentation Pit Fermentation
Microbial strain resources preserved plants 8400+ 8800+ processes in the Baijiu industry offering an important reference for the
Baijiu Brewing Machine Learning System
Distilling raw-material germplasm resources - wheat accessions 150 328 intelligent upgrading of traditional manufacturing industries.Distilling raw-material germplasm resources - sorghum accessions 775 800
Smart Moutai
Leading Industry Development The Company has aligned itself with its digital transformation strategy and taken the overall "Smart Moutai" blueprint as the central driver embedding digital development throughout the entire value chain of production operations and management
innovation. It has systematically advanced industrial digitalization across six key areas: smart marketing integrated supply chain
The Company actively played a leading role in the industry by spearheading the research formulation and revision of a number industrial internet operational management and control smart parks and digital infrastructure. Leveraging the secondary
of key technical standards and by promoting the R&D and application of core industrial technologies thereby providing node for industrial internet identification resolution the Company has explored pathways toward digital industrialization using
important support for the high-quality development of the Baijiu industry. traceability applications as the point of entry. Focusing on four dimensions of technology infrastructure application scenarios
platform operations and overall coordination the Company has steadily driven its digital transformation to greater depth.
46 47Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Smart Marketing Industrial Internet
T he iMoutai platform has launched products such as vintage Baijiu releases the 70th Anniversary Commemorative Baijiu and the R elying on the Baijiu industry's secondary node for industrial internet identification resolution the
"Huang Xiaoxi Chi Wanfan" Cultural Series (A creative name combining the initials of six scenic spots in Guizhou: Huangguoshu Company formulated relevant coding standards established an identification infrastructure system and
Waterfall Xiaoqikong Xijiang Qianhu Miao Village Chishui Danxia Wanfenglin and Fanjingshan) along with features like timely an independently controlled coding issuance system and achieved independent control over the entire
delivery enhancing its online operational and platform service capabilities. The Company has continuously optimized iMoutai's life cycle of identifications. As of January 2026 it had cumulatively registered 578 million identification
functionalities and applied big data technologies to enhance data insight and decision-making efficiency thereby delivering users a codes and issued 174 million product identification codes supporting code issuance and application
more efficient and intelligent online service experience. needs for various products and RFID electronic tags and enabling full-process identification connectivity.The Company also innovatively established a digital product authentication management system launched an appointment- The Company has built industry-level identification service capabilities by connecting the system with
based authentication system and piloted its implementation. This has enabled the effective identification of problematic its internal business systems meeting its own anti-counterfeiting and traceability needs while also
products supported quality control and authenticity assurance and safeguarded consumer rights and interests. Its capabilities in providing identification-related services to upstream and downstream enterprises and facilitating
technology governance and independent controllability have continued to strengthen: the Company completed the independent coordinated upgrading across the industrial chain. By assigning codes at the smallest packaging-
transformation of its R&D and O&M system maintained stable and efficient system operations and improved the precision of its material unit it issued nearly 53.5 million identification codes for 12 categories of packaging materials
risk-control models for early warning effectively ensuring the secure and robust operation of the iMoutai digital marketing platform. supplied by 69 suppliers enabling digital management of packaging materials and optimizing supply Second Prize in
The Company has also actively optimized the ecosystem layout of the iMoutai App. In November 2025 the native HarmonyOS chain collaboration. By linking product information with packaging-material information it has the Industrial
version of the iMoutai App (HarmonyOS NEXT) was officially launched on Huawei AppGallery. Built entirely on the HarmonyOS improved product authentication and packaging-material traceability capabilities. At the same time Manufacturing
ecosystem this version covers five main sections: Home i Purchase π Community Xiaomao Yun and My and is fully capable of for key packaging materials the Company further strengthened end-to-end control across the full Track of the
serving HarmonyOS device users. chain by establishing an anti-counterfeiting and traceability operation management platform enabling Guizhou Regional
full-process traceability of RFID electronic tags and using blockchain technology for trusted data Competition of the
preservation. The project titled "Digital Traceability Capability Development for the Jiang-flavour Bajiu 2025 "Data Elements
Industry Based on Identification Resolution" won Second Prize in the Industrial Manufacturing Track of ×" Competition
the Guizhou Regional Competition of the 2025 "Data Elements ×" Competition.Integrated Supply Chain
T he Company deepened digital procurement governance by establishing and promoting a procurement management platform for
subsidiaries/branches effectively shortening procurement cycles improving business process efficiency and enhancing compliant Smart Parks
operations and management efficiency through transparent workflows.The Company established a materials supply system and launched a materials supply management platform enabling multi- Following the seven-layer architecture of "end network cloud data application intelligence and security" the Company sy s -
party online collaboration significantly improving supply accuracy inventory turnover and raw material acceptance quality while tematically advanced the planning and development of smart parks focusing on the promotion of intelligent engineering projects
reducing capital occupation and supply chain losses and balancing economy efficiency and integrity risk control. improvement of weak-current operation and maintenance services and optimization of office equipment allocation thereby
enhancing digital park management efficiency and the quality and effectiveness of integrated service support.The Company advanced the digital upgrade of the entire supply chain by launching digital management systems for packaging
production and Baijiu blending and storage production. These systems enable closed-loop control of the full production process
equipment data collection and integrated system connectivity thereby forming an integrated digital management capability and
improving lean production safety and controllability and quality traceability.The Company improved digital management of vehicle transportation by launching a transportation vehicle management system Digital Infrastructure
enabling full-process online management of official and commuter vehicles improving dispatch efficiency and operational
transparency and strengthening travel safety and standardized operations. The Company optimized its cloud platform and cloud resource management while practicing green and low-carbon operations.The Company launched a product packaging design and development management system preliminarily digitizing the Company's Through dynamic cloud resource allocation it improved resource utilization and reduced operating costs while ensuring stable
new product development process. This makes the full development process visible and traceable centralizes and standardizes business operations: on the public cloud side it dynamically adjusted relevant resource specifications based on daily activity levels
document management clarifies time spent at each stage and promotes more standardized product development and stronger on iMoutai; on the private cloud side it recycled inefficient and redundant resources on a monthly basis with a cumulative recovery
full life-cycle product management capabilities. of 1804 vCPUs thereby achieving efficient resource utilization.The Company further strengthened data management and operations and consolidated the foundation for digital governance. It
advanced master data management completed integration of 183 interfaces across 33 systems and synchronized more than 4.7
million data records during the year ensuring system data consistency and improving data quality. It also continuously carried out
data operations providing 32.164 million data services and completing data integration for AI applications thereby enhancing the
level of data operation and management.Operational Management and Control
The Company advanced the implementation and application of its integrated business-finance project by launching eight major
business systems across eight subsidiaries/branches including accounting reimbursement human resources and legal affairs. By
deepening the application of its middle platform and integration platform it enabled the automatic flow of business and financial iMoutai Data
data significantly improving operational control efficiency and decision-making coordination.The Company launched an asset management system featuring 33 functional modules for digital management and control of the
full life cycle of physical assets. This has clarified the Company's asset base and supported online management of 180000 asset By the end of 2024 By the end of 2025 Year-on-Year Change
items. Business efficiency increased by approximately 40% improving the refinement of asset operations.The Company carried out the development of a project management system completing 94 key functions covering the full life-cycle Total registered
management of seven categories of projects. This has enabled standardized project control strengthened the digital foundation for users 73.863million 79.465million 5.602million
project management and helped enhance management compliance and operational efficiency.
48 49Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Response Strategies
Sustainable Focusing on supply-chain resilience as well as green and digital development the Company deepened collaborative quality The Company improved supplier admission standards carried out contract-performance assessment and evaluation and
Supply Chain governance across the supply chain strengthened risk control and implemented categorized and tiered management. These measures enhanced supply-chain resilience and collaboration compliance defenses accelerated green technology innovation efficiency mitigated compliance and instability risks across the supply chain and continuously improved procurement
promoted green coordination throughout the full-chain advanced quality.the development of a green and low-carbon supply chain and
fostered a green industrial ecosystem. Supplier Empowerment
The Company formulated and publicly issued the Kweichow Moutai Co. Ltd. Supplier Code of Conduct setting out clear
Governance requirements for suppliers in areas including employee rights and interests occupational health and safety environmental
protection business ethics and integrity. During the reporting period the Company also mapped the institutional framework
The Company refined its governance structure for procurement and supply operations and issued documents such as the Administrative Measures for Procurement the
for supply chain management by establishing a Administrative Measures for Supplier Management and the Provisions on the Management of Suppliers of Packaging and
Procurement Committee composed of the Finance Procurement Committee Storage Materials.Department the Legal & Compliance Department
and the Quality Department with an office set Office: Procurement Center
up within the Procurement Center. Chaired by a 2025 Supplier Management Rules (Partially Listed)
Vice President of the Company the Committee is
responsible for the unified leadership of procure- Member units: Finance Department Supplier Admission Management Supplier Classification and
ment and supplier management enabling end- the Legal & Compliance Department Tiering Management
to-end management from strategic direction to and the Quality Department Covers multi-dimensional evaluation The Company follows the principle of
operational execution and improving the efficiency of qualifications quality control "classification and tiering management
of resource integration and coordination. Governance Structure for Supply Chain Management technology environmental protection with win-win cooperation" adopting
social responsibility and sustainable differentiated supplier strategies to
development. Risks related to specific continuously optimize supplier structure
regions industries and commodities are
Strategy and stabilize supply-demand relationships.also taken into account and dedicated
admission standards are established. Supplier Classification: based on
procurement category suppliers are
Working together with supply chain partners the Company deeply embedded ESG principles into strategic decision-making classified as critical significant or general.and day-to-day operations thereby strengthening the foundations of a sustainable value chain. Suppliers that provide multiple categories
are classified according to the category of
highest importance that they supply.Risk Impacts Supplier Tiering: based on category
and performance capability suppliers
Based on three dimensions-procurement quality supply stability and compliance-the Company identified key risks that could are divided into strategic preferred
affect business continuity and compliant operations. assurance and competitive tiers with
dynamic annual adjustments.Supplier Exit Management Supplier Performance Process
Risk Impact Assessment ManagementSuppliers whose annual performance
evaluation is unsatisfactory or whose quality The Company established a dynamic
Procurement Issues in supplier management production or delivery capabilities may lead to unstable or environmental protection safety integrity or performance management mechanism
Quality Risk non-conforming quality of supplied products thereby affecting the Company's production other ESG-related performance fails to achieve consisting of "day-to-day monitoring + and operations. the minimum management requirements set by periodic assessment + annual rating"
Supply Factors such as weak supplier management and operations or force majeure may lead to
the Company within the prescribed remediation continuously improved supplier
Stability Risk supply delays disruptions or impediments to business progress thereby weakening the
period will lose cooperation eligibility and assessment and evaluation criteria and
responsiveness of the supply chain. be barred for one year from participating in in 2025 revised eight existing institutional
procurement activities of the Company and its documents including the Provisions
If suppliers fail to comply with laws and regulations industry regulatory requirements and subsidiaries/branches. Suppliers whose ESG on the Management of Suppliers of
Supply Chain the Company's supplier management rules during cooperation supply-chain compliance risks performance has a significant adverse impact Packaging and Storage Materials thereby
Compliance Risk may arise. or involves serious circumstances will be placed strengthening the basis for supplier
on a blacklist in accordance with procedures. performance assessment and evaluation.
50 51Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Collaborative Supplier Development
The Company has extended its "Time-Space-Method (skill and technique)" originality quality management model upstream
along the supply chain and implemented the initiative to "move quality control one kilometer closer to the source." Through Deepen Green Engagement and Improve Equipment
production line inspections product sampling and on-site quality diagnostics it has strengthened quality control at the Communication Energy Efficiency
source. At the same time the Company has carried out both routine joint inspections and surprise spot checks to exercise in-
depth management over critical suppliers. During the reporting period the Company completed 95 on-site inspections in
total and applied a closed-loop process of issue listing time-bound rectification and verification-based closeout to address T he Company hosted a zero-carbon green I n all new construction and retrofit projects
identified issues. procurement and supply chain conference the Company gives priority to energy-efficient
and signed on-site the Initiative for Jointly equipment such as high-efficiency transformers
For many years the Company has provided technical support to suppliers. During the reporting period combining remote Building a Green and Sustainable Supply Chain and IE5 motors improving energy efficiency from
guidance with on-site assistance it adopted a full-process collaboration model of "assessment - feedback - support - strengthening collaboration across the industrial the source.verification" to help suppliers build ESG management systems calculate carbon footprints and develop energy-saving and chain and guiding suppliers to put green and low-
emissions-reduction technologies. The Company visited 33 supplier sites in total to conduct quality diagnostics verification carbon practices into action.training and support helping suppliers shift from externally driven compliance to internally embedded capability.Through symposiums exchanges and dedicated ESG training the Company communicated its quality philosophy and ESG Explore Zero- Advance the Green Transition
management requirements to suppliers. In 2025 it organized three ESG-focused training sessions covering more than 280 Carbon Pilots of Critical Suppliers
supplier participations and conducted 71 supplier training sessions of various types covering 820 supplier participations in
total effectively helping suppliers understand the Company's management standards and ESG policies.T he Company actively explored innovative Jingqi Glass Company the core bottle supplier
In 2025 supplier satisfaction reached 97.5% and the rate of suppliers receiving excellent contract performance evaluations initiatives including the development of a zero- has achieved full coverage of green electricity use.reached 94.2% helping to build a stable collaborative and sustainable supply chain ecosystem. carbon industrial park at the Tanchang Packaging
Logistics Park and low-carbon pathway studies
Sustainable Development of the Supply Chain for warehousing and logistics using pilot projects
to drive emissions reduction across the full-chain.In 2025 the Company established a green supplier assessment mechanism and built a green evaluation and ESG assessment
system covering all suppliers. This system guides and incentivizes suppliers to conserve energy and reduce carbon emissions.It supported 14 suppliers in obtaining green and low-carbon certification 22 suppliers in being recognized as national- or
provincial-level green factories and five suppliers in purchasing and using green electricity driving approximately 35000
tonnes of carbon reduction across the value chain.Case Procurement and Supply Chain Conference
Key Tasks in Building the 2025 Green Supplier Assessment System
In 2025 the Company convened its Procurement and Supply Chain Conference to review annual procurement
The Company formulated and implemented four green standards including the Green Evaluation Standard for performance plan for the coming year and recognize outstanding partners. The event achieved full-process carbon
Packaging Material Suppliers for Moutai Baijiu requiring suppliers to follow the 3R1D principle when designing neutrality certification by China Environmental United (Beijing) Certification Center Co. Ltd. and was awarded a
and procuring raw materials for packaging. Assessment results are linked to order allocation to create an incentive "Carbon Neutrality Declaration Certificate" fulfilling its goal of hosting a "zero-carbon conference.mechanism. Evaluation indicators cover energy saving resource consumption reduction technology reserves
for green packaging R&D and green electricity use. By increasing the weighting of indicators such as carbon
accounting carbon footprint evaluation and green material application the Company further strengthened
guidance for suppliers' emissions-reduction practices. In 2025 the Company completed self-assessments and
third-party assessments for 10 core suppliers whose deliveries accounted for more than 70% of the total volume of
four major categories of packaging materials.The Company formulated and implemented the Guidelines for ESG Management Assessment Rules for Moutai
Baijiu Packaging Material Suppliers which include topics such as climate change low-carbon emissions reduction
energy and water conservation and the circular economy under the environmental dimension. In 2025 the
Company completed ESG assessments for 57 suppliers systematically identified weaknesses in their ESG
performance and provided targeted guidance.The Company revised the Provisions on the Management of Suppliers of Packaging and Storage Materials Procurement and Supply Chain Conference Site Issued the Green Development Initiative
increasing the weighting of ESG assessments in annual contract performance evaluations from 15% to 20%. This
further strengthened the linkage between assessment results and procurement plans and encouraged suppliers to
accelerate their green and low-carbon transition.The Company optimized the ESG Assessment Rules for Organic Raw Material Suppliers by making energy saving
and emissions reduction a key assessment criterion. The weighting of ESG assessments in annual contract
performance evaluations increased from 2% to 10% and assessment results are directly linked to supplier
procurement plans incentivizing suppliers to take action on energy saving and carbon reduction.
52 53Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Financial Impact Metrics and Targets
In 2025 the Company invested approximately RMB 200 million in supply chain optimization and risk management. In the Taking "strengthening the compliance defense line of supply chain risk control" as its objective the Company uses the composite
future the Company will continue to deepen supply chain development building a more resilient and sustainable supply indicator of Supply Network Assurance Capability to systematically measure supply chain resilience across four aspects-planning
chain through the implementation of lean management and the promotion of digital transformation. capability infrastructure quality control and monitoring and improvement-covering 11 dimensions 37 categories and 66 detailed
assessment items. In 2025 the Company scored 88.8 on Supply Network Assurance Capability up 0.7 points from 2024 and
achieving its annual target of 88.5.Risk Management Supply Network Assurance Capability
In supply chain risk management practice the Company focuses on three key risks - procurement quality supply stability and Risk
supply chain compliance - and has established a full-chain control system covering identification monitoring and control. Monitoringand
Supervision Prevention
System 90
Service
Quality 88.8
F ocusing on three dimensions - external environment By applying a dual-platform model combining the Improvement 89and Application g and 88.1
internal operations and upstream and downstream internal procurement management platform + in 5%)nito
r
eme
nt (1 88.5
o
collaboration - the Company identifies potential risks the external Qianyun Procurement Platform the M prov
88
m
relating to supply chain stability and compliance. On Company has built a risk monitoring and early- 8887
stability it focuses on factors such as supplier quality warning mechanism covering the entire tendering System and
and capacity fluctuations that may cause supply and bidding process with dynamic controls focused StandardConstruction 86
disruptions; on compliance it focuses on policy and on supplier onboarding procurement compliance
regulatory requirements environmental and quality and other key stages. It also uses digital platforms Supply Network 85
standards and supplier qualification requirements. such as the materials supply management platform Assurance Capability
and the quality management platform to monitor 84
potential risks in plan execution material dispatch Supply
Assurance Procurement
83
and quality acceptance. Capability Quality
82
Risk Identification Risk Monitoring Pla 81nnin
Leadership g Capability (25%)
Role 80
Strategic 2024 2025
Planning Cultural
Cost Development
Control
Actual Target
Value Value
Supply Chain Management Metrics
Metric Unit 2025
Total number of suppliers - 808
Total number of critical suppliers - 145
Risk Control and Mitigation
Total number of significant suppliers - 473
The Company has issued documents such as the Advance Checklist for Assessing Integrity Risks in the Procurement
Field and the Checklist for Assessing and Preventing Corruption Risks in the Materials Supply Field strengthening Total number of ordinary suppliers - 190
the supply chain compliance defense line. It also empowers supplier development through technical and financial
support handles supplier performance abnormalities strictly in accordance with the Supplier Management Measures Percentage of total spend on critical suppliers % 36.53
and contractual terms implements supplier exit mechanisms and enhances supply chain resilience and stability. Annual supplier audit rate % 100
Cumulative number of suppliers trained participations 820
5455
Infrastructure
Construction (20%)
I
trol (40%
)
n
y Co
ua
lit
QSymbiotic
Coexistence
Coexisting The Company deeply practices the principle that
Harmoniously with lucid waters and lush mountains are invaluable
Nature assets. Upholding an ecological priority and
green development approach the Company has
established a green system for environmental
protection and ecological management pro-
moted harmony between humanity and nature
and painted a high-quality ecological landscape
through green development.Climate Change Efficient Resource Green Environment
Tackling Utilization ProtectionMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Climate In response to China's dual-carbon goals the Company carried out dedicated climate change tackling work in accordance with IFRS S2. comprehensively Strategy
Change manages climate-related risks and opportunities across four dimensions-governance strategy risk management and metrics and targets proactively The Company implemented the Kweichow Moutai Action Plan for Carbon Peaking and Carbon Neutrality (the "Action Plan").Tackling addressing climate change. In line with its carbon neutrality implementation pathway and staged objectives it carried out climate risk scenario analysis to assess its climate resilience and conduct related work focusing on energy structure optimization energy efficiency
improvement and circular pollution reduction.Governance
Climate Scenarios and Time Horizons
The Company has established a climate change governance structure comprising the "Decision-making Level - Management
Level - Execution Level." This structure regularly assesses and deliberates on climate risks and responses across the entire
industrial chain. Meanwhile key performance indicators such as carbon emission intensity green electricity usage rate and The Company employs internationally recognized climate models integrating considerations such as business type strategic
supplier ESG compliance rate are assigned to relevant functional departments including production procurement and energy planning and risk management needs. It selects climate scenarios from multiple sources and across various temperature
management and incorporated into the annual performance evaluation system. Furthermore the Company regularly conducts levels to conduct climate risk assessments. For physical scenarios the Company adopts three climate scenarios: SSP5-8.5
thematic training on ecological and environmental protection energy conservation and carbon reduction to ensure the orderly (brown scenario) SSP2-4.5 (baseline scenario) and SSP1-2.6 (green scenario). Regarding transition scenarios the Company
advancement of climate change-related initiatives. extensively references transition frameworks developed by the Intergovernmental Panel on Climate Change (IPCC) the
International Energy Agency (IEA) and the Network for Greening the Financial System (NGFS).Climate Change Governance Structure
Scenario Selection
Decision-making Level Management Level Execution Level
Scenario Type Physical Scenario Transition Scenario
Board Strategy Environmental
Committee Subcommittee of the ESG
Dual-Carbon Action
Steering Committee Working Group SSP1-2.6
Green Scenario SSP1-2.6 Net Zero Emissions Scenario (NZE2050)
Social Transformation Scenario
T he highest decision-making M onitor climate trends Advance the implementation
body for climate change regulatory developments of the Company's climate
management responsible and leading practices and strategy and plans. Baseline Scenario SSP2-4.5 Stated Policies Scenario (STEPS)
for the decision-making formulate forward-looking Historical Trend Scenario
guidance and oversight of and adaptive climate Identify climate-related
climate response matters. response strategies in light of risks and opportunities and
Approve the Company's the Company's own practical
formulate targeted response
climate change management situation.strategies.Brown Scenario SSP5-8.5 /
strategy and short- medium- F ormulate climate change Break down climate-
and long-term plans. management measures related targets coordinate
C onduct an annual review of short- medium- and long-
departments in carrying out
term plans and targets and climate response work and climate change issues listen submit them to the decision- report progress regularly.to reports from management making level for approval. Based on the timeline of the "Dual Carbon" goals and the Company's specific circumstances short- medium- and long-term and provide strategic timeframes for climate change management have been defined.guidance on the assessment U nderstand assess and
of climate-related risks and manage the potential impacts
opportunities. of climate risks and report
A pprove climate-related regularly to the decision- Climate Risk Time Horizons
targets and oversee progress making level.toward their achievement. Short term: 2025-2030 Medium term: 2031-2040 Long term: 2041-2060
5859
Level Body Responsibilities Tasks and ObjectivesMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Identification of Climate Risks and Opportunities Moutai Risk Distribution Map
The Company reviewed the climate risks that may arise across raw material sourcing production operations logistics and
transportation retail sales and market expansion. It established a scenario analysis process to analyze climate risks under 9
different climate scenarios and time phases and derive risk assessment results.Paris France
Climate Scenario Analysis Process
Define the Climate Indicators to be Assessed Apply Models to Assess and Output Raw Data
Referring to national standards such as Classification Based on the climate indicators the Company matched
of Meteorological Drought the Company clarified corresponding assessment parameters in the model
definitions of extreme weather events such as extreme and input the Company's geographic location and time
heat and drought and defined climate indicators and period to output climate data such as the number of
their classification criteria. extreme heat days and precipitation levels. Beijing Municipality
8
Output Assessment Conclusions Determine Assessment Dimensions
The Company input the raw data into the risk Based on the established classification criteria an
assessment matrix and generated nine risk assessment analysis was conducted from the dimensions of
conclusions for each location-three scenarios across likelihood and severity to form a risk assessment matrix. Guizhou Province
three time horizons-covering Moutai Baijiu production
areas Heyixing production areas planting bases self-
operated outlets and other operating sites. 1 2 3 4
567
The Company consolidated and analyzed the assessment results identified the climate risks in each region and marked high-
risk areas on the climate risk distribution map.Extreme Extreme Raw Material Production and
Heat Cold Kweichow Moutai Co. Ltd.Physical Value Procurement Operation
Risk Extreme ChainDrought Transportation and Retail Store Sales and Extreme Precipitation Distribution Market Expansion Acute Physical Risk Extreme Heat Extreme Cold Precipitation Drought
Serial SSP1-2.6 - Short Term
Number Joint Stock Company and Other Subsidiaries
Geographic
Location Physical Risk Value Chain
SSP1-2.6 - Medium Term
1 Kweichow Moutai Co. Ltd.(Headquarters) Guizhou Province
SSP1-2.6 - Long Term
2 Heyixing Branch of Kweichow Moutai Co. Ltd. Guizhou Province
SSP2-4.5 - Short Term
3 Kweichow Moutai Baijiu Sales Co. Ltd. Guizhou Province
SSP2-4.5 - Medium Term
4 Kweichow Moutai Jiang-flavor (Moutai-flavor) Baijiu Sales Co. Ltd. Guizhou Province SSP2-4.5 - Long Term
5 Guizhou Laymau Baijiu Industry Co. Ltd. Guizhou Province SSP5-8.5 - Short Term
6 Guizhou Moutai Chiew Import and Export Co. Ltd. Guizhou Province
SSP5-8.5 - Medium Term
7 Moutai International Hotel of Kweichow Moutai Co. Ltd. Guizhou Province
SSP5-8.5 - Long Term
8 Beijing Friendship Envoy Trading Co. Ltd. Beijing
9 Kweichow Moutai Paris Trading Co. Ltd. Paris Risk Severity Level High Medium Low
Company Climate Risk Distribution Map
60 61Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Climate Change Risk Identification and Response10 Raw Material Production and Transportation Retail Store Sales and
Procurement Operation and Distribution Market Expansion
Risk Primary Secondary Response Measures that Value Chain Risk Primary Secondary Risk Description Response Measures that Value Chain
Category Risk Risk Risk Description have been Implemented Affected Category Risk Risk have been Implemented Affected
Monitor changes in carbon emission policies
and regulations formulate and conduct a
carbon peaking plan and conduct regular
Collaborate with multiple sorghum and wheat
As carbon emissions carbon inventories and product carbon footprint May lead to raw suppliers to increase strategic reserves.material shortages Changes policies become
assessments.P romote regional warehousing and intelligent
logistics disruptions in carbon increasingly stringent Implement carbon reduction programs at Extreme dispatch to reduce distribution delays and cargo water accumulation emissions the Company's carbon planting bases; study green riparian filtration precipitation damage.and flooding in workshops facility
regulations management costs may technologies; promote nearby collection and
damage and floor mold C arry out preventive upgrades to older plants rise. storage models to reduce transport emissions.affecting product quality power distribution rooms and other facilities. Purchase green electricity apply high-efficiency
and production stability. Take climate factors into account in store site Policy and equipment and implement energy-saving
selection fit-out and inventory management. legal risk projects to improve energy efficiency.Raw material cultivation T rack changes in environmental policies to ensure
water resource compliant information disclosure.Other management packaging C onduct environmental management training Acute risk
environmental procurement and to enhance employees' policy learning improve
S trengthen quality control and ensure raw compliance other stages may face compliance awareness and develop professional
material quality through rigorous inspection and risk higher environmental capabilities.access standards. compliance costs and Improve environmental monitoring platform
potential administrative
May lead to a decline in Improve the cooling systems in work areas development and strengthen real-time data penalties.the quality of sorghum to ensure employees work in a comfortable monitoring and early warning.Extreme heat and wheat lower
environment. Transitioning to energy-
employee productivity Develop funding plans for energy-saving technical Provide labor protection supplies and heatstroke
Increased saving technologies and increase fire safety upgrades and prioritize projects with high returns.prevention items.risks at plants. Technical investment in
requires significant Establish cost-benefit evaluation mechanisms to
U pgrade fire protection facilities by zone risk energy-saving capital investment which improve capital efficiency.Physical construct fire lanes equip fire stations and deploy Transition technologies
may intensify funding
firefighting personnel and strengthen fire drills Risk pressure and operational
S trengthen low-carbon technology R&D to reduce
Risk to mitigate fire risks. risk. technical procurement costs.C arry out specialized climate change response
If the Company's climate initiatives proactively address climate-related
action progresses too risks and seize development opportunities.International slowly it may affect
market its sustainable brand Improve the ESG disclosure system strengthen
Strengthen water conservation awareness expansion reputation internationally communication with rating agencies and investors and respond to stakeholder concerns.May affect water supply campaigns to enhance water-saving and hamper overseas
from the Chishui River consciousness among all employees. business expansion. Enhance international influence through case Drought causing insufficient water Optimize the water supply network establish sharing and industry exchanges.Market risk
supply. a water circulation system and enhance water As consumer preference
recycling and reuse.Risk arising for low-carbon products A ccelerate the R&D and application of green
from changes grows failure to respond
in consumer promptly to low-carbon
packaging materials.Chronic preferences development trends Track consumer demand and respond rapidly to
risk and behavior may result in declining low-carbon consumption trends.sales and fluctuations in
May affect sorghum and Conduct sorghum conservation research to market share.wheat yields and the strengthen seed climate resilience.temperature conditions Advance watershed eco-governance and work
Rising average required for microbial P lace key distilling processes in indoor with local governments to protect the ecology of
temperatures brewing conditions constant-temperature and constant-humidity environments. Risk of
Negative feedback from the Chishui River.thereby affecting the Reputation negative stakeholders may affect
product quality and Conduct microbial research to safeguard stable risk stakeholder the Company's brand
I mprove community communication mechanisms
production stability. distilling conditions. feedback image and ESG capital
and promptly address the reasonable concerns of
market performance. local residents.I mprove climate information disclosure and
report work progress regularly to stakeholders.
10 Based on the climate scenario analysis the Company faces a relatively low risk of extreme cold weather which is therefore not considered a priority risk for
detailed assessment.
62 63Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Against the backdrop of the accelerating global low-carbon transition the Company is proactively turning climate-related risks
into new drivers of high-quality development. In light of industry characteristics corporate strategy and market demand it
has systematically identified and planned for transition opportunities. Financial Impact
Climate Change Opportunities In 2025 the Company invested 158 million yuan to actively advance initiatives such as strategic grain reserve management
Raw Material Production and Transportation Retail Store Sales and renovation of outdated factory buildings and power distribution rooms environmental remediation and emergency supply
Procurement Operation and Distribution Market Expansion stockpiling providing solid support for the sustainable development of its operations. Moving forward the Company will
continue to promote low-carbon operations and the development of a green supply chain with a focus on enhancing climate
Value Chain resilience and improving resource utilization efficiency.Opportunity Identified Opportunity Description Dimension
Unlocking Varietal Ensuring the security of raw material supply increasing supply
Advantages in Raw chain climate resilience and gaining cost advantages and asset Risk Management
Materials appreciation.Advancing Green By collaborating with suppliers distributors and other upstream and The Company has established a climate risk management mechanism featuring top-down coordination ensuring that risk
Packaging Materials downstream partners across the value chain the Company promotes identification assessment response and improvement form a closed loop and are deeply embedded throughout strategy
and the Circular green transformation in raw material sourcing production operations and operations. This continuously strengthens the Company's risk management capabilities.Economy logistics and transportation.Using green products and green factories as key levers the Company
Expanding the Low- expands its share of the green consumer market and enhances the The Company conducts a comprehensive assessment Given the strong dependence of Baijiu brewing on the
carbon Consumer sustainability of brand value through leading climate action and from the perspectives of likelihood severity of impact natural environment the Company uses its geographic
Market for Products low-carbon practices. It also explores to build a carbon emissions and climate resilience and improves the analysis of location and historical climate risks as identifying factors database for Baijiu distilling and integrate emissions reduction financial impacts such as response costs and asset losses for physical risks and industry characteristics and trends
technologies to strengthen the brand's green credentials. or gains thereby managing climate risks by category and as well as national and local policies as identifying factors
level. for transition risks to identify climate change risks.By actively responding to the dual-carbon strategy the Company may
Reducing Financing obtain government tax incentives and fiscal subsidies. In addition as
Costs a wide range of green finance products develops rapidly accelerated Risk Assessment Risk Identificationgreen and low-carbon transformation may create access to green
financing opportunities.Innovation and The Company uses emerging technologies to optimize energy
R&D to Promote management in production operations and improve resource
Cost Reduction and energy efficiency. At the same time it is steadily intensifying
and Efficiency ecological protection efforts in the Chishui River basin to secure more
Improvement stable brewing conditions.Case Presented at the COP30 China Pavilion Side Event on "Ecological Civilization
and the Practice of Building a Beautiful China"
In November 2025 the 30th Conference of the Parties (COP30) to the Risk Response Improvement of Risk Management
United Nations Framework Convention on Climate Change (UNFCCC)
commenced in Belém Brazil. A representative of the Company Based on assessment results the Company develops The Company has established a normalized climate risk
delivered a keynote speech at the first side event of the COP30 China differentiated response strategies and uses technological monitoring system to continuously track and provide
Pavilion-"Ecological Civilization and the Practice of Building a Beautiful innovation and process optimization to reduce the early warnings for key risk indicators. It regularly reviews
China." The presentation shared the Company's exploration practices impacts of climate risks on production and enhance its the effectiveness of risk response measures and progress
and insights on green transformation and contributing to the climate resilience. against management objectives and dynamically adjusts
construction of a Beautiful China. It was also stated that the Company them in response to changes in the internal and external
will continue to infuse practical momentum into building a Beautiful environment.China through the approach of "Green Low-Carbon + Technological
Innovation" constructing a sustainable development system with ESG COP30 China Pavilion Side Event Site
as the core philosophy and accelerating the comprehensive green
transformation of its development model.
64 65Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Metrics and Targets For three consecutive years the Company has engaged third parties to verify its greenhouse gas emissions systematically reviewing annual carbon emissions and developing targeted decarbonization strategies in line with its staged targets (for
progress on target implementation and emissions reduction practices see the "Energy Conservation" section). Through
Guided by its Action Plan the Company has established emissions reduction targets covering the short medium and long term. measures such as energy mix optimization energy efficiency improvement and green technology innovation the Company
This provides clear direction for its climate response efforts. In 2025 the Company procured 132150900 kWh of green electricity. has achieved a continued decline in carbon intensity while maintaining business growth.Scope 1 and Scope 2 Greenhouse Gas Emissions
2025 Emissions Reduction Targets and Progress
Metric Unit 2024 2025
Scope 1 Greenhouse Gas Emissions tCO2e 287811 270273
20% 7% 15% Scope 2 Greenhouse Gas Emissions tCO2e 2536 1747
Total Greenhouse Gas Emissions
reduction in CO2 reduction in CO2 reduction in comprehensive (Scope 1 and Scope 2) tCO2e 290347 272020
emissions per unit of emissions per unit of energy consumption per unit
industrial output value base Baijiu compared of industrial output value Greenhouse Gas Emissions Intensity tCO2e / RMB million of
compared with 2020 with 2020 compared with 2020 (Scope 1 and Scope 2) industrial output value 2.91 2.57
Achieved Achieved Achieved
Scope 3 Greenhouse Gas Emissions11
Category 1 Purchased goods and services 71.08%
Renewable energy
consumption to account for Category 3 Fuel- and energy-related 4.38% 100% activities
7% Category 4 Upstream transportation and 1.19% distribution
green electricity coverage
in the Moutai and Heyixing Category 5 Waste generated in operations 6.43%
production areas of total energy consumption Category 6 Business travel 0.47%
Achieved Achieved Category 7 Employee commuting 2.51%
Category 8 Upstream leased assets 0.21%
Green Electricity Purchase
Certificate Category 9 Downstream transportation and 1.11%
distribution
2030 Emissions Reduction Targets Category 12 End-of-life treatment of sold 8.56%
products
CO emissions per unit of Category 13 Downstream leased assets 0.00036%2
industrial output value to decrease by Category 14 Franchises 4.06%
60%
from 2020 Basis of Calculation:
Greenhouse gas emissions were verified by qualified third-party institutions in accordance with ISO 14064 the IPCC
Guidelines the Guidelines for Accounting Methods and Reporting of Greenhouse Gas Emissions for Food Tobacco Alcohol
The Company participated in the formulation of one national standard Requirements for Greenhouse Gas Management Beverage and Refined Tea Enterprises (Trial) the GHG Protocol: Corporate Accounting and Reporting Standard and other
Systems; released one corporate standard Specifications for Environmental Impact Assessment of Greenhouse Gas Emissions relevant national standards.from Construction Projects (Trial) ; and contributed to the drafting of the Guizhou provincial standard General Principles for
the Evaluation of Zero-Carbon Factories as well as corporate standards such as the Guidelines for Accounting and Reporting 11 A ccording to the calculation the Company's Scope 3 greenhouse gas emissions for Category 2 (Capital Goods) Category 10 (Processing of Sold Products)
Corporate Greenhouse Gas Emissions and the Guidelines for Carbon Footprint Accounting of Jiang-flavour Baijiu Products. Category 11 (Use of Sold Products) and Category 15 (Investments) are zero.
66 67Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Product Carbon Footprint
The Company conducted this verification in accordance with GB/T 24067-2024 Greenhouse gases - Carbon footprint In 2025 leveraging a unified accounting methodology the Company expanded carbon footprint accounting beyond Moutai
of products - Requirements and guidelines for quantification ISO 14067:2018 Greenhouse gases - Carbon footprint of products Flying Fairy-previously assessed by a third party-to include seven core products: Moutai Zodiac Baijiu Moutai Boutique
- Requirements and guidelines for quantification PAS 2050:2011 Specification for the assessment of the life cycle greenhouse Baijiu Moutai 1935 Moutai Prince Baijiu (Golden Prince) Han jiang Guizhou Daqu and Moutai Yingbin Baijiu. These products
gas emissions of goods and services and other applicable laws regulations and standards. The accounting methodology is accounted for 66.53% of the Company's total revenue in 2025 completing carbon footprint measurement for core products.consistent with international Life Cycle Assessment (LCA) standards.Full Life-Cycle Carbon Footprint Results for Core Products (Shown as Shares of Carbon Emissions12)
Moutai Flying Fairy Transportation and Logistics Operations Product Disposal
Finished Baijiu transportation Waste disposal
Raw Material Production Manufacturing Operations 13Including Suppliers 1.52% 8.17%
Grain (including Packaging materials Production
transportation) (including transportation)
23.56%21.84%34.98%
Distribution and
Store Operations
Distribution and operations
9.93%
12 In carbon footprint measurement carbon emissions are calculated based on the carbon dioxide equivalent emitted per bottle of product at each stage. 13 I n 2025 the primary mode of transportation for Kweichow Moutai Flying Fairy was shifted from road to rail resulting in a significant reduction in carbon
The percentage data represent the proportion of carbon dioxide equivalent emissions per bottle at each stage relative to total emissions. emissions during the transportation phase.
68 69Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Based on the carbon footprint results for its core products the Company identified the carbon emissions structure and key
Manufacturing
Operations Transportation Distribution
decarbonization levers across each stage and formulated a full life-cycle emissions reduction plan covering core product raw
Raw Material Production and Logistics and Store Product material production key facilities in the production stage transport fleets route and load management and all distribution Including Operations Operations Disposal centers. By cascading emissions reduction targets to each operating stage and driving implementation accordingly the Suppliers Company has already achieved phased results. (For details on the carbon emission reduction plan please refer to the "Energy
Product
Packaging Conservation" section)
Grain (including materials Production Finished Baijiu Distribution Waste 14transportation) (including transportation and operations disposal In 2025 the Company strengthened supply chain carbon data management by requiring core suppliers -including 47
transportation) raw material and packaging material suppliers-to provide annual energy use and carbon emissions data and collected
information on their existing new energy power generation projects as well as green electricity procurement and use. These
Moutai suppliers accounted for over 90% of the Company's total procurement spend on raw materials and packaging materials in
Zodiac 18.62% 35.76% 27.64% 1.05% 7.85% 9.08% 2025 enabling a comprehensive inventory of energy use and carbon emissions data for all core suppliers.Baijiu
The Company has established carbon footprint targets for packaging materials used in Moutai Baijiu driving suppliers to
Moutai implement emissions reduction measures and helping reduce Scope 3 greenhouse gas emissions.Boutique 19.02% 34.13% 28.24% 1.35% 8.02% 9.24%
Baijiu
Moutai 1935 25.36% 24.44% 43.77% 3.93% 0.37% 2.13% Carbon Footprint Target for Packaging
Materials Used in Moutai Baijiu 2025 Progress Toward the Target
Moutai
Prince By 2028 reduce the carbon footprint of In 2025 the carbon footprint of packaging
Baijiu 25.35% 24.86% 43.77% 3.77% 0.37% 1.88% packaging materials used in Moutai Baijiu by materials used in Moutai Baijiu decreased by
(Golden
Prince) 16% 3%
Han Jiang 25.19% 25.31% 43.48% 3.99% 0.37% 1.66% compared to 2023 compared to 2023
Guizhou
Daqu 27.37% 19.80% 47.24% 3.79% 0.45% 1.35%
Moutai
Yingbin 26.86% 21.94% 46.36% 3.17% 0.51% 1.16% 14 T he quality of the Company's products and its brand value are closely linked to the stable supply of raw materials and packaging materials. Raw materials
Baijiu determine the quality and flavor of the base Baijiu while packaging ensures brand image and product safety. Therefore raw material suppliers and
packaging material suppliers are the Company's core suppliers.
70 71Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Efficient The Company continuously develops sustainable agriculture advances the green transformation of packaging materials implements energy- Sustainable Production
Resource saving technological upgrades strengthens water resource recycling and explores a development path characterized by resource conserva- The Company builds an ecological chain characterized by "resource conservation conversion and utilization and green
Utilization tion and environmental friendliness. circularity" achieving the value conversion of by-products and contributing to the circular economy.Raw Material Management Establish a circular economy industrial demonstration park to achieve
the resource utilization of by-products such as distiller's grains pit mud
and fermentation straw and build a circular economy industrial chain.The Company has built a full-chain management system covering planting transportation warehousing and production. It
systematically advances the greening circularity and efficient use of raw materials with the aim of achieving synergies between Through technical breakthroughs we converted distillers' grains into
economic and environmental benefits. green products such as organic fertilizer biomass biogas and feed for
use in raw material planting bases. Current annual processing capacity
exceeds 300000 tonnes with 100% resource utilization.In 2025 approximately 90000 tonnes of organic fertilizer were supplied
Sustainable Agriculture to raw material production bases improving soil quality on about
610000 mu (approximately 41333 hectares) of farmland. This established
Standardized Circular a sustainable raw material supply model characterized by "waste nouri-The Company focuses on key agricultural raw materials such as sorghum
and wheat strengthening sustainable management from planting Utilization of Baijiu-making
shing agriculture and agriculture promoting brewing." Additionally
By-products the Company cumulatively donated 2320 tonnes of organic fertilizer to through supply. Daozhen County benefiting over 6000 farming households.At the cultivation stage the Company has vigorously advanced green We led completion of a national circular economy standardization pilot
and organic certification for its sorghum and wheat bases requiring raw project leading or participating in the formulation of 21 standards at
material cultivation to strictly follow organic and green management various levels and building a scientific standards system.standards prohibiting the use of chemically synthesized fertilizers and
pesticides and minimizing the impact of agricultural activities on soil
water bodies and the ecological environment. To date the area of
raw material planting bases that has obtained organic certification is
approximately 1.56 million mu (approximately 104000 hectares). Sorghum Green Food Wheat Green Food
Certificate Certificate
In supplier management the Company has formulated and implemented
the Guizhou Wheat (Organic) Supplier Admission Standard the Green In 2025 the Company advanced research into several key technology
Evaluation Indicator System for Organic Raw Material Suppliers and the pathways including using distillers' grains as feed converting them into
Green Evaluation Indicator System for the Organic Raw Material Supply insect protein pilot production of biodegradable plastics (PHA) from
Chain. It clearly defines basic admission criteria for organic raw material distillery wastewater and extracting cosmetic ingredients from distillers'
suppliers including an organic management system and certification. grains with investment of approximately 9.32 million yuan and phased
The Company incorporates measures such as high-standard farmland progress achieved.Exploration and Application of
construction soil and water erosion control biodiversity habitat Frontier Technologies
protection soil organic matter enhancement and soil pollution risk
management into supplier evaluations. This approach guides suppliers
in strengthening soil health management and ecological conservation
promoting the sustainable development of the organic raw material
supply system. Sorghum Organic Wheat Organic Product
Product Certificate Certificate
72 73Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Loss and Waste Reduction Green Packaging Materials
The Company has made a clear commitment to reduce grain loss and waste. It strengthens grain management during In 2025 adhering to the Development Plan for Lightwe-
transportation and storage optimizes handling procedures and storage conditions and actively practices grain conservation ight and Green Packaging of Kweichow Moutai Co. Ltd.and loss reduction. the Company formulated the Green Development Plan Eight Priority Tasks
Establish
for the Packaging Material Supply Chain for Moutai Baijiu a circular Improve
governance
and the Three-Year Action Plan for Green Development recyclingsystem Five Key Links structure
of the Packaging Material Supply Chain for Moutai Baijiu.Measures to Reduce Grain Loss and Waste Centered on the "3R1D" principles-Reduce Reuse
Recycle and Degradable-it proposed the "1158" path- Green One Core Strategy Green
way set carbon footprint targets for packaging products Recycling DesignBuild a green
transportation Enhance ESG strategic value and
Practice
Transportation Warehousing and introduced 29 supporting measures continuously greenand storage lead the industry's green and design
building a green supply chain management system for system low-carbon transformation
packaging materials that spans design procurement One Core Target
Anti-drip and leak-proof treatments were applied to Used nitrogen-controlled green grain storage techno- production transportation and storage and recycling Reduce the carbon footprint of
cargo containers and funnels to reduce spillage loss logy to improve warehouse conditions suppress grain thereby steadily advancing reduction lightweig hting Green Moutai Baijiu products and support GreenMoutai's carbon neutrality goals
and residue during grain transportation and unloa- respiration and pest breeding and reduce natural waste elimination and recovery. Logistics ProcurementMake
Promote
ding processes. losses during storage. breakthroughs greenin key procurement
technologies
Strengthened specialized training for drivers clarified Installed intelligent sensors for temperature humidity GreenProduction
loading standards and prevented grain spillage dur- and other indicators to monitor changes inside grain
ing transportation. piles in real time provide early warnings of heating Optimize Upgradedigital production
and mildew risks and avoid losses. platforms processes
Promoted integrated bulk grain loading unloading
and transport to reduce losses during bagging unpac- Standardized grain inbound and outbound operations
king loading and unloading and avoid residual losses and used enclosed conveying equipment to reduce
caused by grain adhering to packaging materials. spillage and dust losses in transit.S trengthened skills training for warehousing personnel Elements Measures Elements Measures
to improve standardized operations and grain storage
techniques.Packaging Material 3R1D
Design Principles Glass
Products Lightweighting
Recycling and
Green Reuse
Design Application of Mature
Innovation Technologies
Implementation R&D Research and Development of Ceramic Material Breakthroughs
New Technologies Products Reduction in Ceramic-like
Technologies
Green Procurement of Procurement Procurement
Green Raw Materials Standards Execution Plastic Use of
Procurement Recycled Green Supplier Evaluation Evaluation Reduction Plastics
Management Standards Implementation Plastic
Products
Existing Packaging Energy Saving / Water Saving / Use of
Green Workshops Reduced Resource Consumption
Biodegradable
Materials
Production New Packaging Zero-Carbon Park at the Tanchang
Workshops Packaging Logistics Park
Recycled Sustainably
In-house Logistics Clean Transport Low-Carbon Paper Certified Paper
Green Capacity Warehousing Paper
Logistics
Supplier Logistics Enhanced Intelligent
Products
Non-wood Pulp Paper: pulp
Management Scheduling made from sugarcane straw
rice straw etc.Development of End-of-Use Process
Green Recycling Networks Collection Management Other
Recycling Packaging Material Greener Application of
Recycled Materials Handicrafts
Remelting and
Materials Reduction AlternativesReprocessing
With a green supply chain management With green and low-carbon With digitalized With risk identification and
system as the foundation technologies as the wings management as the pillar control as the shield
"1158" Implementation Path for Green Supply Chain Management of Packaging Materials Used in Moutai Baijiu
7475
Application of Green Packaging Materials
Supply Chain ManagementMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Material Reduction and Lightweighting Key Initiatives
Upgraded carry bags: Complete the development of "FSC" General Carry Bag. The new
While ensuring product quality and consumer experience the Company has advanced packaging material reduction through version uses 100% biodegradable materials with eco-friendly paper as the main material
functional optimization and design improvement and further deepened lightweight packaging initiatives by implementing environmentally friendly water-based inks for printing no surface lamination and paper-
lightweight design and exploring alternative lightweight materials. plastic woven handles replacing the original plastic handles.Promote the substitution of bamboo for plastic: On the premise of ensuring effective
product protection during the packaging upgrades for products such as Moutai 1935 and
Key Initiatives for Packaging Reduction Daqu 1980s bamboo-pulp paper trays were used in place of pearl-cotton inserts and velvet
fabric reducing the annual use of pearl cotton and velvet by more than 100 tonnes each.O ptimize product accessories: Leverage information technologies and fully consider product anti-counterfeiting Reduce production process losses: Upgrade the bottle for 53% vol 500 ml Kweichow Moutai
requirements to further refine product supporting accessories. Identifiers case labels and product manuals have (Boutique) from a labeled ceramic bottle to a kiln-fired decorated ceramic bottle reducing
been gradually phased out from the accessories of Flying Fairy Zodiac Series Boutique and Premium Baijiu and the rework and loss of ceramic Baijiu bottles by approximately 6%.other product lines.Targets and Progress
Key Initiatives for Packaging Lightweighting Waste elimination target: W aste elimination progress:
B y 2027 increase the share of renewable packaging I n 2025 over 40% of the Company's packaging
Launch lightweight Baijiu bottle project: On the premise of guaranteeing bottle structural strength the weight of materials across all Company packaging by 8% com- materials were derived from renewable mate-
500ml opal glass Baijiu bottles has been reduced by over 6%. Favorable results have been achieved in trials and pared to the 2024 baseline. rial an increase of over 8% compared to the
industrial application is under exploration. 2024 baseline achieving the set target.Reduce the weight of standard tote bags: While ensuring load-bearing capacity and durability the weight of
standard tote bags has been reduced by over 4% effectively cutting down material consumption.Resource Recovery
The Company prioritizes resource recovery explores the recyclability and circularity of packaging materials and promotes the
Waste Elimination green transformation of its packaging.Key Initiatives Targets and Progress
The Company has issued institutional documents such as the
Provisions on New Product Development Management the We promote the recycling and resource utiliza- P ackaging material circularity target:
Technical Blacklist for Packaging Materials (Environmental tion of bottles in accordance with the territoriality
Category) the List of Prohibited and Restricted Packaging B y the end of 2025 100% of the Company's glass principle. Recycled empty bottles shall be
Materials and the Negative List for Packaging Materials in New paper textile metal and plastic packaging has processed for resource utilization such as crushing
Product Development clarifying principles for the R&D and been recyclable.
16
and remelting as well as develop ment of cultural
selection of green packaging materials. By exploring green and creative products. A total of 124745 empty P ackaging material circularity progress:
material substitution and optimizing processes the Company bottles were recycled in 2025.advances efforts to reduce waste in packaging materials. The target has been achieved. In 2025 recyclab le
A dded FSC labels to general carry bags to advo- packaging materials accounted for over 90% of all
cate for the concept of green packaging materials. packaging materials used by the Company.In 2025
100% I n 2025 over 25% of all packaging used by the Com pany was made from recycled materials and
of the Company's paper product suppliers FSC Forest Certification Certificates over 80% of cardboard boxes were made from
passed FSC15 forest certification recycled materials.
15 FSC stands for Forest Stewardship Council an international non-governmental organization dedicated to promoting responsible forest management worldwide. 16 This refers to the conversion of used raw materials packaging materials and other resources into reusable resources through appropriate technological
processes. Examples include: organic fertilizer cultural and creative products made from Baijiu bottles and processes such as bottle crushing and melting for
reproduction.
76 77Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Energy Conservation
Case Resource Utilization of Baijiu Brewing By-Products Driving Green Transformation
of Packaging Materials Guided by a low-carbon development philosophy the Company has established and improved its energy management
system advanced the R&D and application of energy-saving and emissions-reduction technologies increased the use of
In 2025 the Company centering on the goal of "Green Material renewable energy and is committed to becoming an industry-leading demonstration enterprise for energy conservation and
Recycling and Waste Elimination" launched two research projects: environmental protection."Study on Mixed-Culture Fermentation Process for PHA Production
from Pit Bottom Water" and "Research on Baijiu Packaging (Bottle)
Base Made from Bio-Based Materials". The former project uses cellar
bottom water an ultra-high-concentration wastewater stream from Energy Management System
Baijiu brewing as its raw material. It has validated the outstanding
performance of Moutai's indigenous microorganisms in acid The Company complies with laws and regulations such as the Energy Conservation Law of Bio-based Substrate PHA Materials
production and PHA synthesis and completed a full set of systematic the People's Republic of China and has established institutional documents including the
work spanning process development to the design of complete Energy Management Measures the Provisions on Energy Operations Management and the
pilot-scale equipment. The latter project converts Baijiu-brewing by- Provisions on Energy Data Management. Following the principles of law-based management
products into biodegradable PHA materials and unbleached cellulose technological progress reduced consumption and improved efficiency effective supervision
packaging bases. This initiative achieves an organic integration of and sustainable development it continuously improves its energy management system and
waste resource utilization and the green substitution of traditional ensures that its GB/T 23331-2020/ISO 50001:2018 Energy Management System certification
packaging materials. remains valid.In 2025 the Company engaged an independent third party to conduct an energy audit
with reference to the Energy Law of the People's Republic of China Energy Management
The Company has set relevant targets for core packaging material suppliers encouraging them to adopt energy-saving and Systems-Requirements with Guidance for Use (GB/T 23331-2020/ISO 50001:2018) General
carbon-reduction measures and jointly advance emissions reduction across the supply chain. Principles for Energy Audit Technology (GB/T 17166-2019) and General Rules for Calculation
of Comprehensive Energy Consumption (GB/T 2589-2020). The audit covered all business
modules related to the Company's energy management involving responsible departments Energy Management System
With 2027 as the Target Year such as ecological and environmental protection equipment and energy management and Certification Certificate
finance. We investigated the management of equipment in energy-intensive production
Require core packaging material suppliers including glass Baijiu bottles paper products and bottle caps to achieve: processes the review and analysis of the energy mix the process management and results
of major energy-efficiency retrofit projects and the setting and supervision of energy-
a a efficiency improvement targets and urged the responsible departments to implement
management improvement recommendations.
5%6%
reduction in comprehensive energy consumption per unit of increase in the share of renewable energy
industrial output value compared with the 2024 baseline; and consumption compared with the 2024 baseline
Case Comprehensively Improved Energy Management
Packaging Material Consumption17
In 2025 Heyixing Branch issued institutional documents including the Provisions on Energy Data Management
organized all units to formulate energy-use indicators and energy-saving measures and incorporated energy
Item Unit 2024 202518 Year-on-Year management into performance assessment. It also established a mechanism for monitoring and feedback on Variable Ratio energy use analyzing data by cycle and guiding timely rectification of abnormal energy consumption continuously
Glass Baijiu bottles tonnes 81820.23 90203.52 10.25% improving energy efficiency.Printed cartons tonnes 40391.32 48010.51 18.86%
Ribbons tonnes 80.91 88.91 9.89%
Metal bottle caps tonnes 1070.33 1145.69 7.04%
Plastic bottle caps tonnes 3336.16 4118.10 23.44%
Ceramic Baijiu bottles tonnes 11676.25 12107.69 3.70% Energy Conservation and Carbon Reduction Plan
Cartons tonnes 13511.21 15931.79 17.92%
The Company has reviewed energy use at each stage of raw material production manufacturing operations transportation and
Carry bags tonnes 9526.98 9527.43 0.0047% logistics and distribution and store operations and has formulated an energy-saving and carbon-reduction plan that covers
Total tonnes 161413.39 181133.64 12.30% both upstream and downstream segments of the supply chain throughout the entire product life cycle. Focusing on key areas
such as cleaner production green logistics and smart warehousing the Company promotes a continued reduction in its total
17 carbon emissions including Scope 3 emissions through energy-saving technology R&D production process optimization The Company has disclosed all packaging material usage data in its performance report.
18 energy-efficient equipment upgrades and energy mix optimization. Packaging output increased compared to 2024 and the structure of packaging products was adjusted.
78 79Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Energy Conservation and Carbon Reduction Plan by Stage Transportation and Logistics (Scope 3 Emissions Involved)
Implement green logistics measures in key areas including keeping empty running below 10% and comprehensively
Raw Material Production (Scope 3 Emissions Involved) the promotion of new-energy vehicles optimization of improving transport efficiency.logistics organization improvement of logistics network
At all raw material production bases increase soil organic matter layout advancement of green warehousing and construction Optimize transport routes by straightening trunk lines
and enhance soil carbon sinks through the use of organic fertilizers of smart platforms. selecting higher-grade highways and green lanes to reduce
and green manure crops. detours integrating regional routes and implementing
Use an intelligent warehouse management system to achieve cyclic distribution based on fixed times fixed points and
Promote nearby collection and storage across all sorghum bases by precise inventory positioning and efficient management fixed routes to reduce mileage per vehicle. At the same
selling grain through nearby collection and storage stations thereby improve space utilization reduce warehousing costs and time encourage packaging material suppliers to establish
reducing the energy use and emissions associated with long- shorten the operating distance of handling equipment. divisions within Guizhou Province so as to shorten transport
distance grain transport shortening transport time and reducing distances and reduce emissions from packaging transport.grain loss. I ncrease the use of clean-energy transport vehicles and build
a green fleet. During distillers' grains transport 136 clean- Optimize cargo packaging. Recyclable environmentally
Require all wheat suppliers to use low-emission transport modes energy vehicles were put into service accounting for 40.48% friendly film materials are used for palletizing finished Baijiu
such as rail as the primary method from base warehouses to of the fleet. in warehouses and green packaging operating standards
transfer warehouses thereby reducing transport-related carbon are strictly followed. Differential wrapping is adopted based
emissions. Increase the share of rail transport and leverage its advant- on cargo type so as to reduce film use while ensuring cargo
ages in energy use and emissions for long-distance high-
I mplement a systematic low-carbon control plan for all raw material safety.volume logistics.and packaging material suppliers building a green evaluation and
ESG assessment system that covers all such suppliers. Through Use advanced warehousing equipment to automate sto-
institutional documents such as the Green Evaluation Standards rage conveying and sorting; dispatch transport vehicles
for Packaging Material Suppliers Used in Moutai Baijiu and the intelligently; adopt strategies such as "far first near later"
Guidelines for ESG Management Assessment Rules for Packaging and "heavy first light later" to reduce vehicle starts stops
Material Suppliers clearly incorporate indicators such as energy and waiting time; establish return-load mechanisms; and rely
saving and emissions reduction green electricity use carbon on information platforms to match cargo sources thereby
accounting carbon footprint evaluation and green material into
supplier assessments and directly link ESG assessment results
with procurement orders so as to guide and motivate suppliers to
implement energy-saving and carbon-reduction measures. (For
details of the supplier low-carbon control plan see the "Sustainable
Supply Chain" section.)
Manufacturing Operations Distribution and Store Operations
Carry out multiple research projects on energy-saving tech- T he bottle recycling initiative has been extended to all self-
nologies including CO2 heat pump technology and dual- operated companies and channel partners with normalized
cycle coolers and waste heat recovery systems and apply the recycling and resource-based treatment of bottles returned
latest energy-saving technologies across the Company's core by consumers and collected through marketing activities. To
production facilities19. date the recycling program has covered all of the Company's
E xpand electrical load capacity and sign long-term green elec- stores.tricity purchase agreements with the electric power trading S tores have enhanced employees' environmental awareness
center to meet transformation needs. by holding work meetings and conducting environmental
Conduct trials of photovoltaic power generation systems. Since protection training.
2022 the Company has gradually installed 661 pho tovoltaic Stores are required to conduct daily inspections on water
panels. As of the end of the reporting period cumu lative power and electricity conservation promote paperless office
generation had reached about 318000 kWh reducing carbon practices guide employees to adopt green and low-carbon
emissions by 314.95 tonnes of CO2 equivalent. lifestyles and work patterns and eliminate resource waste.U se new high-efficiency electromechanical equipment.
19 Core production facilities refer to facilities directly used in the production process such as Baijiu-making equipment Daqu-making equipment blending
and storage equipment packaging production equipment etc. as well as auxiliary support facilities for production such as power systems cooling water
systems etc.
80 81Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Energy-Saving Technology R&D
Enhancing Energy-Saving Awareness
Demonstration Research on an Integrated Pathway Research on Green Technologies for Energy
R&D for Energy Saving Efficiency Enhancement and Saving Consumption Reduction Carbon The Company actively carries out training and awareness campaigns focused on energy management energy conservation
Project Carbon Reduction in Distillation Systems Based on Reduction and in Jiang-flavour Baijiu and carbon reduction aiming to enhance the company's energy management capabilities and employees' awareness of
CO2 Heat Pump Technology Distillation Systems energy efficiency.In 2025 Heyixing Branch put into operation
In 2025 the Company continued to advance a new dual-cycle cooler and waste heat reco- Case Special Training on the Energy and Measurement Management System
validation of CO2 heat pump technology at the very system. The system collects waste heat
pilot scale and completed system testing during generated during the distillation cooling
the zaosha round and the first round of Baijiu- process and recycles it after thermal energy In July 2025 the Company organized special training on the energy and measurement management system covering
Latest making production. Operating data showed conversion. After the technology was first managers from production workshops and related functional departments. The training focused on the two systems
Progress that the heat pump unit maintained a stable applied in 11 production buildings the theo- of energy and measurement and covered basic knowledge interpretation of internal rules communication of the
coefficient of performance (COP) of around 1.7 retical waste heat recovery rate exceeded latest national standards annual review of energy targets training on the operation of Baijiu-making measuring
verifying the technical feasibility of the solution 40% and annual carbon emissions were instruments and practical guidance on the measurement module of the integrated business-finance system.and laying the foundation for future large-scale reduced by about 1000 tonnes delivering sig-
deployment. nificant energy-saving and carbon-reduction
results.To monitor the effectiveness of the energy management system and the implementation of the energy conservation and carbon
reduction plan the Company has strengthened the measurement and management of energy data and continuously tracks
key energy management indicators. It has set phased energy-saving targets clarified the direction of energy conservation and
carbon reduction and promoted higher energy efficiency. (For energy-saving targets see the "Climate Change Tackling" section.)
Special Training Site
Energy Consumption
Metric Unit 2024 2025
Case Heyixing Branch Conducted a Series of Energy Management Training and
Non-renewable energy consumption tce 171186 184371 Awareness Activities
Renewable energy consumption tce 14827 16241 In 2025 Heyixing Branch carried out energy management publicity and training for workshop backbone staff
managers of functional departments and frontline employees communicating energy-use management measures
Total energy consumption tce 186013 200612 and systems. More than 400 participants were recorded.Energy consumption intensity tce/RMB million of industrial output value 1.86 1.90
Energy Management Training Site
82 83Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Water Management Kweichow Moutai's Water Resources Management Strategy
The Company complies with laws and regulations such as the Law of the People's Republic of China on the Prevention and
Control of Water Pollution the Water Law of the People's Republic of China and the Regulations on the Protection of the Chishui
River Basin Establish a governance . It has established a water resources governance structure promoted the innovation and application of water-saving Improve systems structure for water for water use and
processes and continuously improved its water resources management. conservation and water water conservation use management management
Governance Core Objective
Strengthen
communication Water-Saving First Strengthen the
publicity and system of water
Six Strategic Pathways
The Company has established a top-down and clearly tiered water resources management structure developed a long-term education on water metering facilitiesconservation
mechanism for work reporting and responsibility fulfillment to ensure the orderly progress of water resource governance.The Board Strategy Committee is the highest decision-making body for water resources Implement reward Establish a performance
management. It is responsible for the decision-making guidance and oversight of water resource and penalty
Decision- mechanisms for
evaluation system for
risk management and performance. water conservation water conservation
making management
Level The General Manager is responsible for overseeing the planning advancement and related
performance of the Company's water resources management strategy.Risk Impacts
As the management level within the water governance structure the Environmental Subcommittee
of the ESG Advancement Committee is responsible for the overall coordination and supervision The Company introduced the World Wide Fund for Nature (WWF) Water Risk Filter to assess water risks across all production
Management of water resources management reviews specific strategies and implementation plans for water areas from three dimensions: physical risk regulatory risk and reputational risk. The assessment results show that the
Level management regularly evaluates key water management performance and ensures that water Company overall faces low regulatory risk and medium reputational and physical risks.resources management remains aligned with the Company's overall development strategy and
sustainability goals.Risk Category Risk Name (Partially Listed) Risk Impacts
A s the execution level within the water governance structure the Water Resources Management Tighter standards on water withdrawal permits and
Working Group is responsible for the day-to-day management and execution of water-related Regulatory policies and total volume control may increase the Company's
Execution work including regularly organizing the Company's water-saving management meetings implementation plansRegulatory compliance costs. Technological upgrading and
Level clarifying water-saving plans and key tasks carrying out water-saving projects and overseeing Risk Water resources maintenance of water intake and water-use facilities water performance and data reporting so as to ensure effective implementation and continuous management tools as well as uneven levels of agricultural infrastructure
improvement of the water resources management strategy. I nfrastructure across raw material production areas may also affect
production stability.The Company's production is highly dependent on the
W ater availability and water water volume and water quality of the Chishui River.Physical quality Natural hydrological fluctuations competition for water
Risk Drought and flooding resources and potential water pollution risks may
Ecosystems all threaten production water supply and weaken the
uniqueness of distilling water.Strategy
Environmental factors and The Company receives close attention from
Reputational socioeconomic factors stakeholders. Any water pollution incident controversy
Risk over excessive water use or dispute over community With the goal of "water conservation as a priority" the Company conducts water footprint assessments to analyze water usage Media and other reputational water use could seriously damage its brand image and
across the entire process. This provides scientific guidance and implementation pathways for systematic water conservation risks market reputation.advancing the transformation of water resource management toward standardization and refinement.
84 85Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Response Strategies
The Company has formulated the Top-Level Design Plan for Improving Water Resource Utilization Efficiency and the Detailed Based on the water footprint results of its core products the Company analyzed water-saving potential across the full process
Rules for Water Use Management clarifying end-to-end water resource management requirements for water abstraction of water abstraction and use and formulated and implemented the Water Use Improvement Action Plan (2024–2026) which
water use and wastewater discharge. It has also implemented water-use performance assessment management specifying sets out water-saving measures covering all operations across the Company's production sites (including production sites
assessment methods for individuals and business units strengthening accountability for water stewardship and effectively located in water stressed-areas20) . At the end of 2025 the Company issued the 2026 Action Plan for Improving Water Use
addressing water-related compliance and reputational risks. Management further detailing annual targets responsibilities and assessment mechanisms breaking water-saving measures
down to specific processes and positions enhancing the level of refined water resource management and safeguarding the
long-term stability of high-quality distilling water.Water-saving Measures in Various Segments
Water Use in Production
Water Abstraction Water Use in Non-Production Activities
Water-Saving Measures Water-Saving Measures
Built a sediment treatment station to recycle and Carry out water-saving awareness campaigns to enh-
reuse sediment-laden water discharged from the ance employees' awareness of water conservation.water treatment plant reducing water abstraction. S trengthen supervision and assessments to reduce
Completed a technical feasibility assessment of waste.riverbank filtration water abstraction technology.While significantly improving 40 water quality Use reclaimed water for chemical dosing at the waste-
indicators for distilling water drawn from the river water treatment plant and for plant cleaning.the technology can reduce the water plant's self- A ccelerate the rationalization and dedicated retrofitting
consumption by 5%. of landscaping pipeline networks adopting the "region-
specific centralized connection" approach so as to
2025 Results address leakage overflow seepage and drips at the source.
Through the above water-saving measures R ecycle landscape water.water abstraction was reduced by
Water-Saving Measures Promote the use of water-saving faucets and other
0.73% water-saving fixtures.
at the abstraction stage. Enhancement of water supply efficiency Exploration of water-saving practices
S trengthen inspections of the water supply network; regularly A pply water-saving fixtures and promote 2025 Results
detect and repair leaks in pipelines valves and meters; and centralized laundry services.convert concealed pipelines into exposed lines where feasible Through the above water-saving measures water
to reduce network leakage. E xplore more efficient methods for cleaning tools use in non-production activities was reduced by and equipment and cleaning films.I mprove the pipeline metering system implement hierarchical 40.02%
pipeline meteringand install supplem entary meters where
measure-ment is missing to achieve full coverage of water-use
metering. 2025 Results
Improvement of boiler water treatment processes Through the above water-saving measures water
A dopt a "reverse osmosis + concentrated water reuse" appr- use in the production stage was reduced by
oach to replace the original sodium-ion softening process. 8.93%
Improvement of end-use water practices
A dopt card-controlled shower water supply and build an aut-
omated monitoring platform for bathroom water supply to
manage shower water use.
20 In 2025 the Company conducted a comprehensive water stress assessment for all production sites using the Water Risk Filter developed by the World Wide
Fund for Nature (WWF). The assessment covered three dimensions: physical risk regulatory risk and reputational risk. Based on the results production
sites located in water-stressed areas were identified.
86 87Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
The Company extends its water resource management requirements to the supply chain by formulating and implementing the
Implementation Measures for Supplier Sustainable Development. Water consumption per unit of product and water recycling
Case Standardizing Domestic Water Use rate are included in supplier assessments guiding all suppliers to carry out water-saving initiatives and strengthen water
resource protection and recycling.In 2025 the Company standardized the management of shower water use implemented card-controlled water supply
in bathrooms and built an automated monitoring platform for bathroom water supply saving a total of 71900 cubic The Company formulated the Test Plan for Optimizing Bottle-
meters of water during the year. Water Reduction Target for Supply ChainWashing Water Consumption in Packaging and Verifying the
Shelf Life of 500ml Moutai Baijiu (Milky White Glass Bottles)
and established a dedicated task force on bottle-washing water By 2027 core suppliers are required to
optimization. Working collaboratively with departments and achieve aggregate annual water savings of
bottle suppliers the task force studied the effects of bottle washer more than
parameters and bottle storage duration on bottle cleanliness.The work provides a basis for reducing bottle-washing water use 10000 m3
in both the packaging workshop and among suppliers and for versus 2025.grading and defining effective storage periods thereby reducing
water waste in the bottle-washing process for packaging materials.Supplier Water-Saving Highlights
Packaging Material Suppliers Water-Saving Measures
Implement Card-Controlled Water Supply in Bathrooms
Build reclaimed-water reuse systems to treat production wastewater for reuse in landscaping and cleaning and use
integrated treatment equipment to achieve near-zero discharge and resource recovery of industrial wastewater.Retrofit systems such as kiln cooling and electrode cooling for circulation by installing circulating pumps cooling
Case Water-Saving Retrofit of the Plant Pipeline Network towers and related equipment thereby enabling closed-loop use of cooling water and significantly reducing
freshwater consumption.In 2025 HeyixingBranch converted concealed pipelines into exposed lines promptly addressed pipeline leaks A dopt water-saving devices such as infrared sensors.seepage drips and overflows and used nighttime monitoring and leak-detection methods to identify leakage in the
production area's water supply network and resolve pipeline seepage issues. As a result the overall leakage rate in I ntroduce new technologies such as dry cleaning and advanced wastewater treatment to improve water-use
the production area declined by 68.42% year on year. efficiency and discharge standards at key stages.Establish dedicated circulating water systems at key production stages (such as spraying and cleaning) to enable
on-site wastewater treatment and reuse.In addition the Company places strong emphasis on maintaining sound relationships with surrounding communities in relation
to water resource management. It commits to respecting communities' water rights and prioritizing their legitimate interests in
water management seeking to minimize the impact of its production and operating activities on the Chishui River and nearby
communities. The Company has established communication and dialogue mechanisms with government authorities and residents
of surrounding communities strictly implements regulatory requirements and promptly responds to reasonable community
concerns.Water-Saving Pipeline Renovation Site
88 89Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Case Participation in a National Key R&D Program on Watershed Governance Financial Impact
The Company continues to participate in national key R&D programs and is responsible for the sub-project In 2025 the Company invested 213 million yuan in water resource optimization projects focusing on areas such as improved
"Technology System and Demonstration Application for Green Small Watershed Construction" providing technical metering pipeline maintenance and upgrades to treatment facilities. In 2026 the Company plans to advance water-saving
support for Yangtze River protection and water conservation and contributing to regional ecological governance and technology retrofits and improvement in smart upgrades levels strengthen water resource utilization across plant areas
green development strategies. and promote the upgrade of intelligent pipeline networks and metering systems. In the future the Company will continue to
implement water-saving retrofits and related initiatives to materially improve water-use efficiency reduce water costs and
optimize financial performance.Risk Management
The Company actively carries out water risk management by identifying assessing and quantifying potential water-related
risks such as water scarcity water pollution and flooding thereby strengthening its ability to anticipate and respond to risks
and ensuring the sustainable use of water resources.Based on production cycles and the structure of water Based on the characteristics of the watershed in which
use the Company classifies and grades identified water the Company operates and its produc tion water use
risks and uses quantitative tools to analyze the potential the Company carries out water risk ident ification at
impacts of various water risks on production efficiency least once a year focusing on the potential impacts of
Operational Image of Distiller's Grains Aerial View of Large- Workshop on the Design and operating costs and supply chain stability providing a changes in regulatory policies infrastructure capacity
Biochar Production Equipment Scale Sorghum Planting Monitoring Plan for the Demonstration basis for management decision-making. and extreme hydrological events on water supply
Demonstration Fields Project of Composite Shorelines and
Tailwater Wetlands security production and operations and surro unding
communities and forms a water risk inventory.The installation of distiller's grains biochar A management system integrating the resource utilization of distilling
production equipment has been completed waste tailwater purification through wetlands and composite
and operations have commenced. Field trials shoreline restoration has been established to address non-point source
for sorghum cultivation using distiller's grains pollution and ecological degradation in small watersheds. This enables Risk Assessment Risk Identification
biochar-based compound fertilizer have also coordinated management of shoreline water and land areas across both
been carried out. dry and rainy seasons and enhances the Company's overall capability for green watershed management.R&D Project for Green Small Watershed Management
Case Retrofitting an Open Water Supply Canal
To improve water quality in the Tongminba production Risk Response Risk Management
area and surrounding areas the Heyixing branch Improvement
colla bor a ted with the local government the water
supply company and other relevant parties to retrofit Based on assessment results the Company develops The Company regularly reviews and optimizes its water
the open-canal section from Tongguankou Reservoir differentiated response strategies for risks of different risk management process and in light of external chan-
to the production area into a sealed pipeline. The pro- levels covering the full process of water abstraction ges such as hydrological monitoring climate projections
ject converted open-channel conveyance into closed- water use in production and water use in non-production and policy developments continuously improves its
pipe water delivery effectively reducing water quality activities. By optimizing water-saving processes streng- mechanisms for identifying assessing and responding
and safety risks for the production area and nearby thening water recycling and reuse and promoting coord- to water risks to ensure that the managem ent system
residents. Retrofitting Site inated ecological protection it systematically enhances remains forward-looking and adaptive.resilience to water resource risks.
90 91Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Metrics and Targets Water-Saving Targets and Progress
Since 2024 the Company has engaged third-party institutions to conduct water footprint assessments of its core products. In The Company's Water-Saving (Water Efficiency) Target for 2025 and Progress toward Achievement
accordance with applicable laws regulations and standards including the Product Water Footprint Assessment and Reporting
Guidelines (GB/T 37756-2019) the Organizational Water Footprint Assessment and Reporting Guidelines (GB/T 34341-2017)
and the Environmental Management – Water Footprint – Principles Requirements and Guidelines (GB/T 33859-2017) the water The originally set target for 2026 was to achieve a In 2025 a reduction of
footprint of core products was calculated. By analyzing water usage across stages such as product production and transportation
this assessment identified high water consumption "critical nodes" provided a quantitative basis for uncovering water-saving 20% 32.40%
potential optimized water management and scientifically set water conservation targets. reduction in water consumption per unit of product across all the had already been achieved meeting
Company production sites (including production sites located in the target ahead of schedule.In 2025 on top of continuing the water footprint assessment for Moutai Baijiu the Company expanded the scope to include water stressed-areas) compared to the 2023 baseline.Moutai Prince Baijiu and extended the assessment boundary to cover raw-material production and finished-product
transportation.The Company's Water-Saving (Water Efficiency) Target for 2026
Core Product Water Footprint (Presented as the Share of Freshwater Consumption21)
By 2026 achieve a
Product Water Use in Raw Water Use in Raw Material Domestic Water Use of Raw 10% Material Production Transport Material Personnel reduction in water consumption per unit of product across all the Company production areas
Moutai Baijiu 98.1991% 0.0050% 0.031% (including production sites located in water stressed-areas) compared to the 2025 baseline.Moutai Prince Baijiu 98.8973% 0.016% 0.034%
Water Resource Management Data
Raw Material Sourcing
Metric Unit 2024 2025 Year-on-Year Variable Ratio
Reclaimed Water Reuse22 10000 m3 24.24 6.5 -73.18%
Reclaimed Water Reuse Ratio23 % 9.97 2.43 -75.63%
Freshwater Withdrawal 10000 m3 635.11 627.82 -1.15%
3
Freshwater Withdrawal Intensity 10000 m / RMB million of industrial output value 0.0064 0.0059 -7.81%
Total Water Withdrawal24 10000 m3 635.11 627.82 -1.15%
Water Recycling Rate25 % 85.45 91.73 7.35%
Freshwater Consumption26 10000 m3 789.65 737.74 -6.57%
3
Freshwater Consumption Intensity 10000 m / RMB million of industrial output value 0.0079 0.0070 -11.39%
Freshwater Consumption in Water- 3
Production Transportation Stressed Areas
10000 m 0 0 /
Total Water Resource Consumption27 10000 m3 813.89 744.24 -8.56%
Main Auxiliary Ancillary Product Domestic Water Resource Consumption Intensity 10000 m3 / RMB million of industrial output value 0.0082 0.0070 -14.63%Product Production Production Production Product Transpor- Water Use of Water Water Water tation Product Sales
Moutai Water Use Personnel
Baijiu 0.44% 0.75% 0.57% Moutai In 2025 the Company continued to complete the CDP Water Security questionnaire. Benefiting from its well-developed water
Baijiu 0.0029% 0.0020% resource management system and solid water-saving practices the Company received a CDP Water Security rating of B.Moutai
Prince 0.36% 0.48% 0.21% Moutai
22
Baijiu Prince 0.0027% 0.0000% Due to the implementation of retrofit projects for reclaimed water reuse the volume of reclaimed water reused decreased compared to the previous year.Baijiu 23 Water recycled / (water recycled + wastewater discharged) × 100%. Historical data has been retrospectively adjusted.
24 Freshwater withdrawal + alternative water withdrawal.
25 Recirculated volume / (recirculated volume + water withdrawal) × 100%; calculated for the Company headquarters only.
26 Freshwater consumption includes freshwater use and municipal water use.
21 In the water footprint assessment the percentage data represents the proportion of water consumption per bottle of product at each stage. 27 Total water resource consumption includes freshwater consumption and reclaimed-water reuse.
92 93Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Green The Company continuously improves its environmental management In 2025system strengthens the management of "Air Emissions Wastewater and
Environment Solid Waste" actively promotes biodiversity conservation reinforces environmental risk controls and consistently enhances its environmen- In 2025 the Company remained within the validity period of its
Protection tal management performance. GB/T 24001-2016/ISO 14001:2015 environmental management system certification
with certification coverage exceeding
Environmental Management 95%28
The Company complies with laws and regulations including the Environmental Protection Law of the People's Republic of
China . It has reviewed its institutional system in the environmental protection area revised and implemented documents In 2025 the Company did not experience any major
such as the Ecology and Environmental Protection Compliance Guidelines and the Administrative Measures for Ecological environmental non-compliance incidents.and Environmental Protection promoted the implementation of environmental responsibilities standardized and formalized Environmental Management System
environmental management. Certification Certificate
Environmental Management System First-level
Classification Environmental Protection
The Company has established a robust environmental governance framework and refined management mechanisms for Second-level Environmental Pollution Dual Carbon Environmental Emergency Assessment
various environmental issues including environmental management energy water resources packaging materials waste Classification Compliance Prevention Management Greening Management and Inspection
and pollutants and biodiversity.First-level System (1) Environmental Protection Management Measures
T he Board Strategy Committee serves as the highest decision-making body for environmental
management responsible for decision-making guidance and oversight of environmental
issues. This includes providing strategic direction monitoring performance and offering
guidance on risks related to key ESG topics such as water resource management packaging Second-level System (4)
Decision- materials and waste management and carbon emissions management.Making
Level The Chairman oversees the Ecological and Environmental Protection Committee and makes
decisions and arrangements for the Company's ecological and environmental protection
management and performance; the General Manager oversees water resource management
strategy and related performance management.As the management level of the environmental governance architecture the ESG Promotion
Committee has established an Environmental Sub-committee responsible for approving
Management environmental management strategies overseeing strategy implementation and evaluating
Level environmental performance targets relating to energy water resources packaging materials Third-level
and other environmental topics ensuring alignment between environmental performance and System (12)
the Company's overall business strategy and sustainability objectives.The Dual-Carbon Action Working Group the Ecological and Environmental Protection Working
Execution Group and the Water Resource Management Working Group are responsible for the day-to-day
Level management and execution of related work promoting the implementation of environmental
governance strategy and the delivery of environmental performance improvement initiatives. Environmental Protection Policy Framework
28 Certification coverage is calculated based on revenue share.
9495
Detailed Rules for Environmental Protection
Assessment Management
Detailed Rules for Environmental Protection
Inspection Management
Environmental
Protection Inspection
and Evaluation
Administrative Rules
Regulations
on Emergency
Management for Sudden Detailed Rules for Environmental Monitoring Management
Environmental Incidents
Detailed Rules for Waste Sorting Management
Regulations on Carbon
Emission Management
Detailed Rules for Solid Waste Management
Detailed Rules for Noise Pollution Control
Management
Detailed Rules for Air Pollution Control
Detailed Rules for Wastewater Management
Detailed Rules for Environmental Factor
Identification and Assessment Management
Detailed Rules for Pollutant Discharge Outlet
Management
Regulations on
Environmental Detailed Rules for Pollutant Discharge Permit
Protection Compliance Management
Management
Detailed Rules for Environmental Detailed Rules
Management of Construction ProjectsMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Environmental Risk Management Case Improving the Rainwater Monitoring Network
To address environmental risks and ensure the ecological security of the Chishui River Basin we have identified seven core key In 2025 the Company added 18 micro rainwater monitoring
elements in the process of ecological and environmental management. This enables the reasonably allocation of environmental stations and continued to improve its smart environmental
management resources and enhances the overall level of environmental management. protection platform and the integrated "water-soil-air-micro"
monitoring network providing a solid foundation for precise
pollution control and science-based management.Strengthen Ecological Improve Pollution Promote Efficient Use of
Protection of Brewing Control Resources and Energy
Strengthen protection of Improve the environmental Improve energy efficiency
distilling water sources management system Improve resource utilization
Improve air quality Reduce pollutant emissions efficiency
Micro-monitoring Stations
Maintain the stability of the Ensure compliant disposal P romote resource recovery
micro-ecology in production of waste and utilization of waste
areas
Support joint green
protection across the
watershed Case Emergency Drill for Environmental Incidents
In August 2025 the Company carried out an emergency drill for an environmental incident involving a leak of
Advance Green and Low- Green Technology Improve the Environmental
Carbon Development Innovation Monitoring System laboratory liquid waste. The drill adopted a blind exercise format and simulated a liquid-waste leakage scenario
during transfer effectively testing each department's emergency response coordinated disposal and practical
decision-making capabilities.I mprove climate change R&D of new technologies Build an integrated
management new processes new environmental monitoring
R educe greenhouse gas materials and new data management platform
emissions equipment
Improve the Modern Environmental Governance System
Compliance with laws E fficient governance Timely resolution of Prompt elimination of
and regulations environmental issues environmental hazards
The Company complies with laws and regulations including the Emergency Response Law of the People's Republic of China. In
accordance with the Emergency Response Plan for Environmental Incidents it regularly conducts environmental emergency
drills and specialized training activities to enhance emergency response and cross-functional coordination capabilities across Emergency Drill for Environmental Incidents
departments.
96 97Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Management of Air Emissions Wastewater and Solid Waste Wastewater Management
The company focuses on source management strengthening process control comprehensively enhancing its integrated The Company strictly complies with laws and regulations including the Water Pollution Prevention and Control Law of the
governance capabilities for air emissions wastewater and solid waste in order to minimize the environmental impacts of People's Republic of China . It revised and implemented documents such as the Detailed Rules for Wastewater Management
pollutant discharges and ensure lawful and compliant waste disposal. strictly applies wastewater discharge standards that are more stringent than national local and industry limits. Relevant
discharge information has been disclosed in detail in the annual report. In 2025 the Company did not experience any adverse
environmental incidents related to wastewater.By strengthening full-process management of water abstraction supply use and discharge and by preparing water footprint
Air Emissions Management map the Company has enhanced the level of refined water management. In 2025 the company has actively advanced projects including the renovation of drainage networks in the old plant area the construction of large-scale stormwater storage tanks and
the establishment of standardized hazardous waste storage facilities and enhance the management of wastewater treatment
plants.The Company strictly complies with laws and regulations including the Air Pollution Prevention and Control Law of the
People's Republic of China. It has established a rigorous monitoring and management system and deployed five ambient
air quality monitoring stations across its plant areas to systematically monitor indicators such as nitrogen oxides carbon
monoxide ozone PM10 and PM2.5 ensuring that pollutant discharges consistently meet applicable standards.Case Wastewater Treatment Plant Upgrade
In 2025 the concentration and emission rate of all air pollutants emitted by the Company met the corresponding limits under
the Integrated Emission Standard of Air Pollutants (GB 16297-1996) and the rate of good ambient air quality in the Moutai
production area reached 98.08%. In 2025 the wastewater discharge compliance rate of the company's five sewage treatment plants reached 100%.Among them the discharge water quality of Zhonghua Sewage Treatment Plant met the Class IV standard of surface
water.Dust Generated S trengthen standardized management of ongoing construction projects and road dust in the
at Construction demonstration area controlling emissions of inhalable particulate matter ozone and other air
and Work Sites pollutants at the source.All boiler fuel is natural gas and continuous flue gas emission monitoring systems are installed
Nitrogen Oxides in boiler rooms to monitor nitrogen oxide emissions in real time.Generated
During Boiler T he boiler adopts a low-nitrogen combustion process with its primary pollutants being sulfur
Operation dioxide nitrogen oxides and particulate matter all of which are discharged in compliance with
standards.Renovation and Upgrading of the Sewage Treatment Plant
Dust from I n accordance with the Integrated Emission Standard of Air Pollutants (GB 16297-1996) bag
Daqu-making filters are used for collection and treatment.Company Wastewater Discharge Volume
Cooking Fume C ooking fume purification equipment is installed in all canteens for treatment and the equip- 29
Management ment is cleaned at least three times a year. Metric Unit 2024 2025 YoY Change
Wastewater Discharge Volume 10000 tonnes 218.92 261.34 19.38%
Wastewater Discharge Intensity 10000 tonnes / RMB million of 0.0022 0.0025 13.64%
The Company issued the "3+3" Action Plan for Promoting New Energy Vehicles advancing green industrial output value
Vehicle Exhaust transport in an orderly manner and encouraging employees to use public transportation and new
Control energy vehicles for personal travel. The share of pure electric new energy vehicles continued to Calculation basis: Wastewater discharge intensity = wastewater discharge volume / industrial output value.rise. In 2025 the number of pure electric new energy vehicles reached 6527 accounting for 25%.
29 I n 2025 due to increased production capacity the amount of wastewater discharged also increased.
98 99Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Waste Management Ecological Development
Waste Reduction Target
The Company complies with laws and regulations including the Solid The Company advanced three major tasks-"one base one benchmark" "lucid waters and lush mountains" and "dual
Waste Pollution Prevention and Control Law of the People's Republic carbon"-core ecological elements of water soil air and biodiversity and building a four-tier in-depth ecological protection
of China For 2025 the target for reducing . Guided by the principles of resource utilization green system to maintain ecological balance.sealing pit mud remains a
development ecological stewardship standardized management
and waste reduction it revised and implemented institutional docu-
ments such as the Detailed Rules for Solid Waste Management 20%
advancing standardized management and resource utilization of decrease from 2023 Ecological Development Index
solid waste. In 2025 the compliant disposal rate for hazardous
waste reached 100% and no pollution incidents occurred during the
transfer of distilling waste. The 2025 target has In 2025 the Company continued to track the Ecological Development Index comprehensively measuring its overall green
development performance across four dimensions-natural ecology industrial ecology commercial ecology and ecological
The Company actively carried out employee training and assessments been achieved civilization-11 sub-dimensions and 39 indicators. By establishing performance indicators the Company provided clear
to enhance employees' professional capabilities and standard direction for green development. In 2025 the Ecological Development Index reached 80.19 up 2.27% year on year.operating practices in waste sorting and disposal.In 2025 the Ecological
Case Training on Standardized Waste Management Development Index reached Micro-ecological
Stability
The Company implemented national policy requirements relating 80.19 2 indicators Clean Production
to solid waste standardized environmental management of solid 4 indicators
waste strengthened whole-process control and in 2025 carried up
out training to enhance standardized environmental management tem
Environmental
capabilities for solid waste and hazardous waste. 2.27% ys Quality os c
5 indicators E Resource
year on year
Training Session on Standardized Conservation
Waste Management 3indicators
2025 Ecological
Waste Generation and Disposal
Development Index EnvironmentalGovernance
Integration 4 indicators
Indicator Unit 2024 2025 YoY of Industrial
Chains
Recycled / reused tonnes 465947.37 478797.22 2.76% 2 indicators
o Greensy TechnologyLandfilled tonnes 5419.5 2260.05 -58.30% Driving Local stem tio
n 2 indicators
Waste Economic iliza
treated Incinerated with energy Development Ecological Civ
recovery30 tonnes 26699.21 26422.39 -1.04% 2 indicators Establishment of
Resource Ecological Culture
Integration
Total waste tonnes 518043.71 508114.91 -1.92% 4 indicators1 indicator Establishment of
Ecological Civilization
System
tonnes / RMB hundred 10 indicators
Waste intensity million of industrial 520.61 480.12 -7.78%
output value
Production waste reuse rate % 100 100 0%
30 This year the data on incinerated waste with energy recovery for the year 2024 was reviewed and the statistical scope was revised.
100101
Natural
al Ecosystem
dus
tri
I
n
al E
c
erci
CommMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Biodiversity Protection Strategy
Under the Overall Plan for Building a Demonstration Base for Practicing Xi Jinping Thought on Ecological Civilization and We conduct plant diversity surveys across multiple dimensions including vegetation community construction optimization of
Creating an Industry Benchmark for Ecological and Environmental Protection the Company building a demonstration base regional ecological space demand-oriented development of vegetation ecosystems and the sorting of regional positive and
for ecological civilization practices and an industry benchmark for environmental protection. In line with local ecological negative plant lists. The Company has established a searchable database of forest resources and large trees and completed
conditions it built a localized diverse and multi-layered plant ecological system established ecological corridors maximized QR-code registration and cataloguing of indoor plants across the production area enabling digital management of plant
greening wherever possible increased vegetation coverage worked with local governments to protect native vegetation resources.habitats and rare species prevented invasive species and safeguarded regional biodiversity.The Company complies with international conventions such as the Kunming-Montreal Global Biodiversity Framework strictly
observes ecological protection red lines and implements an integrated five-part protection strategy of avoidance mitigation
regeneration restoration and transformation continuously reducing the potential impact of its operations on surrounding
ecosystems. Technical Roadmap for Biodiversity Assessment
In project planning construction and operations prioritize the identification and proactive
avoidance of ecologically sensitive areas to minimize potential disturbance to local biodiversity and
natural habitats at the source; Basic on-
Basic Material Research On-the-Spot Survey
R educe reliance on virgin forests at the source by incorporating recycled fiber content and the use of Thespot
sustainably certified materials into green packaging evaluation indicators thereby protecting forest Survey
Avoidance resources;
B uild an integrated monitoring network and improve a comprehensive environmental monitoring
and management platform; Status-quo Assessment
S elect low-noise equipment optimize the production-area layout and control noise impacts on
surrounding ecology through sound barriers and strengthened traffic and construction management.Remote Sensing Survey Field Investigation
Mitigation Deeply integrate biodiversity protection into production and operations conduct regular surveys and
Land Use Ecological Quality
Status
impact assessments dynamically adjust strategies and reduce potential impacts on ecosystems. Vegetation Types Community Structurequo
Survey Surface Temperature Landscape Pattern
Biodiversity Greening Methods
Service Functions
Regeneration Plan and develop ecological shelter forests factory green spaces and ecological corridors continually increasing green area and vegetation coverage.F ormulate and implement ecological restoration and remediation plans based on issues identified in Pattern Optimization Study Vegetation Characteristics Study
biodiversity assessments;
Optimiza- Carbon
Repair R estore damaged ecosystems through vegetation recovery soil improvement and aquatic ecosystem tion Study
Spatial Landscape Functional Dust Retention Pollutant Sequestration
reconstruction; Pattern Structure Layout Capacity Absorption and Oxygen Release
W ork with government enterprises and other stakeholders to improve the ecological compensation
system in the Chishui River Basin.Rely on the Guizhou Provincial Field Scientific Observation and Research Station for the Ecosystem of Demand-oriented Vegetation Ecosystem Construction
the Middle Reaches of the Chishui River Basin to conduct long-term scientific monitoring and analysis
of regional ecosystems;
Positive and Negative
Renovation Arrange green technology projects and conduct R&D in areas such as waste recycling and bio-based Lists of Regional Plants
materials promoting projects that cover full-chain environmental management;
R eveal ecological processes and patterns through data integration and intelligent analysis promoting Report Writing
coordinated development of ecosystem protection restoration and sustainable management. Implementation Recommendations for Ecosystem and Biodiversity Co-conservation
102 103Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Analysis shows that biodiversity in the Company's core operating areas has remained stable and no major biodiversity
exposure risks have been identified to date. Microbial Protection
The microbial diversity shaped through the Time-Space-Method (skill and technique) craftsmanship quality management
By 2025 By 2030 By 2035 model constitutes the foundation and soul of Moutai Baijiu distilling. In 2025 based on a deeper understanding that the natural ecology human ecology and distilling microecology of the production region are mutually reinforcing and interdependent we
The green coverage rate in E cosystem quality will remain Ecosystem quality will be systematically planned the three living spaces of the production region namely production living and ecological spaces. We
the Moutai production area stable the total proportion further and continuously also established and refined an ecosystem microbial monitoring system covering water soil air and biota providing information
will exceed 50%. of regional forestland and improved the proportion base for microbial conservation. In addition we adopted a series of measures to preserve the original state of all natural
grassland will be maintained of regional forestland and elements within the distilling production region and to minimize human disturbance to the microecological environment to the
above 56% vegetation grassland will increase to greatest extent possible.coverage will continue to 58% vegetation coverage will
improve the share of native grow steadily and ecosystem
plant species will be optimized service functions in carbon
and species diversity and sequestration soil retention River
vertical community structure and atmospheric purification Water Brewing OrganismsSamples
will be enhanced. will be strengthened. Natural Ecology
Phylogenetic Tree of Functional Heatmap of Microbial Load/
Microbial Strains in the Chishui Carrying Capacity in Production Soil
Productivity River Water Air Zone Bio-habitats
Humanistic
Ecology
Development of the "Production–Living–Ecological" Spaces Microecology
Composition Diagram of Airborne Microbial Composition Diagram of Soil Microbial
The Company upholds a "zero deforestation" commitment and following the model of "ecological function core + microbial Community in the Production Zone Community in the Production Zone
habitat belt + vertical sponge belt + craftsman garden" builds an ecological spatial framework for green production zones Moutai Brewing Ecological System The Microbial Community Structure of the Ecosystem in the Brewing Production Area
continuously optimizing the layout of the "production–living–ecological" spaces.Through continuous monitoring and systematic protection the micro-ecosystem and natural ecosystem within the production
area maintain a healthy balance providing a solid ecological guarantee for the unique quality and sustainable development of
Moutai products.Case Environmental Protection Activities
Case Joint Study on Microbial Ecology in the Chishui River Basin
In 2025 the Company carried out the "China Moutai Backbone of the Nation" ecological protection public welfare
tree-planting activity hosted the themed forum "Chishui River Ecological Protection and the Path to Sustainable In 2025 the Company carried out systematic research focused on ecological protection of the Chishui River
Development" and taking World Environment Day and National Ecology Day as opportunities organized a series of concentrating on scientific monitoring of key groups such as aquatic microorganisms building an annual data set of
environmental publicity educational outreach and open-day activities to deeply embed environmental protection watershed microbial communities and analyzing their ecological functions. At the same time it conducted in-depth
concepts. monitoring of microbiomes in environmental media and studied their community structure functional characteristics
and coordination mechanisms laying the foundation for protecting microbial diversity and ecological functions.In 2025 the company has added 100000 square meters of green space achieving a green coverage rate of 52%
within the Moutai production area.Spring Summer
Spring Summer
Autumn Winter
Autumn Winter
Community Structure Diagram of the Temporal Variation in Alpha- Comparison of Microbial Nitrogen Cycle Ecological
Microbiome in the Chishui River Water Diversity of the Microbiome in Functional Traits in Different Tributaries and Main "China Moutai Backbone of the Nation" "China Moutai Backbone of the Nation" Chishui River Water Stream Segments of the Chishui River
Ecological Protection Public Welfare Tree-planting Activity Ecological Protection Public Welfare River Patrol Activity
Study on Microbial Ecological Linkages in the Chishui River Basin
104 105Sharing
Benefits As a national brand with responsibility accou-
ntability and deep commitment Kweichow Moutai
consistently considers the interests of customers
Sharing Value with Society employees shareholders partners communities
and other stakeholders. It adheres to the principle
of sharing achievements and works hand in
hand with stakeholders to pursue sustainable
development.Product and Employee Health and Public Welfare and
Service Quality Management Safety Rural RevitalizationMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Risk Impacts
Product and The Company consistently regards product and service quality as the cornerstone of corporate development. Upholding the philosophy that The Company formulated and issued the Quality Risk List and the Food Safety Risk Control List . Factors such as the cultivation
Service "quality is the soul of life" it remains customer-centric continuously and storage of raw and auxiliary materials water quality safety packaging material quality and supply chain stability may optimizes the product experience and consistently delivers outstanding affect product consistency and compliance. Over the long term risks such as the inheritance of core processes and the circulation of finished Baijiu may pose challenges to brand development.Quality products and services.Response Strategies
The Company has built a quality management system that runs through the entire value chain embedding the philosophy that
"quality is the soul of life" into corporate development. Relying on the "Time-Space-Method (skill and technique)" originality
quality management system and a matrix quality management control framework it achieves full-scenario full-industry-chain
and full-life-cycle quality control.Quality Culture
The Company firmly upholds the quality philosophy that "quality is the soul of life" practices the quality concept of "Honor
the principles Abide by the rules Stick to the craftsmanship Store enough aged Baijiu Never sell freshly brewed Baijiu" and
adheres to the quality principles of "Three Prohibitions Four Compliances and Twelve Perseverances."
Quality is the soul of life
Packaging Production Line
Quality
Philosophy
Product Quality
Being customer- Honor the principles
The Company practices the quality concept of "honor the principles abide by the rules stick to the craftsmanship store enough centered abide by the rules
aged Baijiu and never sell freshly brewed Baijiu." Supported by the "Time-Space-Method (skill and technique)" originality quality Seeking survival through Stick to the
management model and a matrix quality management system it continually enhances the Quality Management Maturity. Quality and quality Food Safety Quality craftsmanship
Developing through Management Concept Store enough
innovation Policy aged Baijiu
Striving to create a Never sell freshly
Governance world-class enterprise brewed Baijiu
The Company has established a multi-tier management structure encompassing the Quality Committee Chief Quality Officer Quality
Chief Food Safety Officer Quality Specialists (Food Safety Officers) Quality Supervisors and Quality Inspectors. This forms a Principles
quality accountability system that covers the entire value chain with clearly defined rights and responsibilities. The Company
refines the division of food safety duties improves performance evaluation mechanisms for the Chief Food Safety Officer and
Food Safety Officers and continuously enhances the level of quality management. Three Prohibitions Four Compliances
Unqualified raw materials are prohibited from W hen there is a conflict between output and quality
entering the factory for use. output is subordinate to quality.Unqualified products from the previous processes When there is a conflict between speed and quality
Strategy are prohibited from flowing into the next process. speed is subordinate to quality. Unqualified products are prohibited from leaving When there is a conflict between cost and quality
the factory and entering the market. cost is subordinate to quality.The Company upholds a systematic and forward-looking layout and system design. It identifies risks in quality management When there is a conflict between benefits and quality
strengthens refined control across the entire chain accordingly continuously improves product compliance levels and benefits are subordinate to quality.solidifies the foundation of brand quality.
108 109Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Quality Management Model Quality Management System
The Company adheres to the "Time-Space-Method (skill and technique)" originality quality management model and has Guided by its mission of "brewing a high-quality life" the Company builds a matrix quality management system and continuously
systematically built a quality management system centered on "keep in tune with the times adapt to local conditions and follow optimizes it through the PDCA cycle. This system organically integrates scientific technical process methods with craftsmanship
the laws" laying a solid foundation for the stability and enhancement of product quality. infused with humanistic and artistic connotations ensuring authentic flavor and stable quality while continuously providing the
market with reliable high-quality products and services.in Tune
with the Tim Quality Culture System
Kee
p es
Quality is the Soul of Life
The Rule
of Time Honor the Principles Stick to the Store Enough Never Sell Freshly
Abide by the Rules Craftsmanship Aged Baijiu Brewed Baijiu
The Rule The
of Term Needs of the Times Cultural Leadership
Time "Four-in-One" Quality
education Committee Quality Design Quality Control Risk Standard
and Identification Development
training Responsibility Quality risk
system Chief Quality System Control
Officer Target Quality
"Eight steps System Personnel
to cultivate Standard P D Supervision and Service Risk Standardcraftsmen" Chief Food System Assessment Decomposi-tion
talent Safety Officer
development
system 2 Moutai with 3
Quality Quality Originality Quality
Originality Specialists RiskTalent Plans improvement supervision Response StandardPlan Monitoring
Standardize Q uality
Quality Knowledge A C Supervision Special Supervisors and
Distilling Traditional Talent "Ten D evelop Inspection
Space Technical
Thousand Improvement
Thousand Topics Quality Risk Standard
Process Hundred" Quality Performance Monitoring Improvement
Space Method Plan Inspectors Evaluation
4
Implementation Process
Scientific
Ecosystem Interp-
retation Procurement Quality Production Quality Product Quality Service QualitySocial Regulations
Respon- and
sibility Standards
a Maturity of Quality Product Quality Product Qualityl C t Management Assurance Index Gradingon wditio Fo
llo
ns Quality Control Operation System
"Time-Space-Method (skill and technique)" Originality Quality Management Model Matrix Quality Management System
110111
he Laws
Standards & Risk System
Risk Prevention and Control
Responsibility Implementation
Responsibility & Capability System
Lo
c
apt
to
AdMutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Food Safety Management
The Company continuously tracks the latest developments in national laws The Company jointly established a key laboratory with the State Administration for Market Regulation and issued and
regulations and standards and promptly identifies quality and food safety implemented the Moutai Baijiu Full Value Chain Inspection and Testing Capability Enhancement Plan. It advanced inspection
regulatory requirements related to Baijiu production. In 2025 it identified 48 laws and testing capacity building across the entire value chain and introduced multiple new testing technologies including rapid
and regulations represented by the Food Safety Law of the People's Republic of detection of inorganic elements in Baijiu using an ICP-MS organic oxygenation system providing strong support for product
China 68 mandatory standards and 127 recommended standards for a total quality stability and precise prevention and control of food safety risks.of 243 items. It compiled the 2025 List of Applicable Laws Regulations and
Other Requirements for Quality Food Safety and Hygiene providing a basis for Building Excellent Quality Together
compliance management across all departments. At the same time the Company
formulated multiple regulations including the Provisions on Product Packaging The Company carried out a series of quality-themed activities and strengthened talent development in the quality field injecting
Quality Control Management and the Provisions on Quality Incident Management ISO 9001 System Certificates endogenous momentum into the enterprise's high-quality development.and compiled and issued the 2025 Food Defense Checklist . This list evaluated the
Company's food defense system and developed supervisory and management
measures to address identified weaknesses effectively preventing intentional
contamination or delibe-rate sabotage during production and operations.The Company strictly follows the ISO 9000 series of standards in building its quality
management system. In September 2025 it passed recertification audits for the Deepening
L everaging Quality Month as a platform the Company organized 26 training sessions
on quality culture quality tools and food safety covering employees in production
ISO 9001 Quality Management System and the Hazard Analysis and Critical Control Quality workshops logistics support systems and subsidiaries/branches effectively
Point (HACCP) system with the HACCP certification scope expanded to the sales Awareness improving frontline employees' quality awareness and practical capabilities.stage reflecting the Company's compliance and system maturity in quality and
food safety management.During the reporting period the Company received a total of 24 quality-related ISO 22000 System HACCP System
awards including 4 international awards 12 national awards and 8 provincial Certificate Certificate
awards demonstrating its professional capabilities and continuous progress in
quality management. T he Company organized workshops and departments to submit and evaluate
outstanding cases under the "Time-Space-Method (skill and technique)" Driving
originality quality management model. A total of 16 exemplary cases across Model
supply and production were selected encouraging employees to apply Implemen-
Product Quality-Related Awards in 2025 (Partially Listed) advanced quality management approaches and enriching the Company's case tation
library for quality management practices.Exemplar in Quality Culture International Convention on
Development for the Global Quality Control Circles (ICQCC) 2025 Quality Benchmark
Chinese Community Gold Award (3 awards) Best Practice Case
World Alliance for Chinese ICQCC Coordinating China Association for
Quality (WACQ) Committee (CCM) Quality (CAQ) T he Company continued to improve its training system for tasting and evaluation
professionals and made positive progress in selecting young talent and strengthening
First Prize in National Quality National Exemplary professional teams. Through a three-stage training and selection program for young
Control Circle Activities National Leading Quality Experience in Building Brand in the Baijiu Industry Streng- Baijiu tasting talent it expanded its reserve of evaluators. In the reappointment and (6 awards) Quality-Trusted Teams thening selection of provincial judges by the Guizhou Alcoholic Drinks Association all 88
China Association for World Alliance for Chinese China Association for Talent existing judges from the Company were reappointed and 91 new judges were added.Quality (CAQ) Quality (WACQ)Quality (CAQ) In the 5th National Baijiu Tasting Vocational Skills Competition 23 employees were Support appointed as national judges including 8 previously serving judges. The cultivation of
Outstanding Quality Control quality management talent was strengthened with a cumulative total of 11 appointed
National Enterprise Honored Group in China's Light Industry QC Demonstration-Level and
for Integrity Commitments in (3 awards) Professional-Level Achievements as QC group judges 11 as Quality Trustworthy Team judges and 4 certified as Six
Product and Service Quality (4 awards in total) Sigma Green Belts further solidifying the team of quality management professionals.China National Light Industry
China Association for Council & China Trade Union China Association for
Quality Inspection for Finance Commerce Light Quality (CAQ)
Industry Textile and Tobacco Financial Impact
Outstanding Project in the
Guizhou Province Quality
Development Program Guizhou Province Outstanding
In 2025 the Company continued to invest funds in quality risk prevention strengthening the quality system enhancing process
(Special Grade) QC Group controls and advancing quality innovation. In the future the Company will further promote quality standardization optimize
Guizhou Provincial production processes and upgrade testing methods to reduce quality risks thereby fostering long-term stable growth in sales
Administration for Market Guizhou Quality Association revenue and profitability.Regulation
112 113Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Risk Management Responsible Marketing
The Company places great importance on quality risk management and has systematically built an integrated risk prevention and The Company continued to improve its responsible marketing system strengthened responsible marketing audits and training and
control system. embedded responsible marketing throughout the entire production and operating process. It promotes healthy and civilized lifestyles
actively advocates responsible drinking and effectively safeguards consumer rights and interests.Risks are graded based on the likelihood of Relying on the mechanism of daily control
occurrence and severity of consequences inherent weekly screening and monthly coordination
risk levels are assessed the effectiveness of the Company dynamically collects and
existing controls is reviewed and a risk matrix manages internal quality risk data to promptly
method is used to determine residual risk levels. identify actual and potential quality risks. Governance
Risk Assessment Risk Identification The Company's responsible marketing system structure is organized into three levels: decision-making management and execution. Directors and management make decisions and coordinate market work through market work meetings while sales business units
such as the Sales Company the Moutai-Flavor Baijiu Company and the Laymau Baijiu Company manage market operations and the
self-operated companies and channel partners are responsible for implementation.Risk Oversight Risk Response
Strategy
The Company has established a By formulating risk contingency
product quality risk oversight process plans to clarify response
and achieves continuous monitoring measures and integrating risk The Company adheres to a consumer-centric approach driven by market demand refining its products and optimizing its services to
of quality risks through the 5+2 quality management with the quality better meet consumers' aspirations for a better life.oversight system31. At the same time management system through
it is advancing the digitalization of unified development the
its quality management system. The Company continuously enhances
Laboratory Information Management its risk control modules and Risk Impacts
System (LIMS) has been launched and strengthens the management
put into operation with the audit and process assessment of risks throughout the entire The Company faces challenges in its market-oriented transformation including industry cycle adjustments and shifts in consumption
modules having completed trial runs. Testing of modules such process. scenarios. These factors may lead to a downgrade in consumption demand and increased pressure on market expansion.as quality intelligence and quality risk is being progressively
advanced continuously enhancing the capabilities for quality
monitoring and analysis. Response Strategies
The Company focuses on its product portfolio and continues to communicate compelling brand stories so that consumers remember
its products recognize the brand and identify with its brand culture. It is also accelerating digital transformation to build an online-
Metrics and Targets offline synergistic model that improves supply-demand matching and balances volume and price creating a closed-loop marketing
system of online traffic generation offline fulfillment and data-driven operations.The Company continuously monitors product quality indicators to ensure the effective operation and continuous improvement of its quality
management system. The batch inspection coverage rate for products leaving the factory the pass rate for supervisory spot checks and the
product ex-factory pass rate all remained stably at 100%. In 2025 no major quality or food safety liability incidents occurred. Compliant Marketing
During the reporting period the Quality Management Maturity Product Quality Assurance Index and Product Quality Score indicators all The Company complies with laws and regulations including the Advertising Law of the People's Republic of China and the Law of the
remained consistently at an excellent level achieving the set targets. People's Republic of China on the Protection of Consumer Rights and Interests and has formulated and implemented institutional
documents such as the Advertising Placement Management Measures and the News Publicity Management Measures. In addition
the sales business units have formulated regulations such as the Responsible Marketing Management Provisions of Kweichow Moutai
2025 Target 2025 Performance Baijiu Sales Co. Ltd. the Marketing Planning Measures of Kweichow Moutai Jiang-flavor Baijiu Marketing Co. Ltd. and the Measures
32 for Market Promotion and Publicity in the Moutai Baijiu Distribution System standardizing marketing conduct.Quality Management Maturity 930 points 930.15 points
Product Quality Assurance Index33 95 points 97.48 points The Company formulated and publicly disclosed the Kweichow Moutai Co. Ltd. Responsible Marketing Policy
35. Upholding the
principle of truthfulness the policy clearly prohibits false reporting of product service and pricing information false or misleading
Product Quality Score of Moutai Baijiu Flying Fairy (Feitian)34 Maintain above 98.5 points 98.59 points statements about the Company's products services and performance misleading descriptions of competitors' products and services
and exaggerated claims regarding the Company's social and environmental impacts.The Company conducts advertising reviews strictly in accordance with the Detailed Rules for Advertising Review. It systematically
31 "5+2" Quality Supervision System: Based on routine inspections and assessments including daily inspections by quality specialists process quality standardizes the advertising review process clarifies review mechanisms and material specifications and rigorously implements the
assessment random product quality supervision checks quality system audits and type tests supplemented by unannounced inspections and special requirement of three rounds of review and three rounds of proofreading to ensure the authenticity of externally released promotional
investigations into quality incidents. information and content at the source.
32 The Quality Management Maturity score with a maximum of 1000 points reflects the operational level of the Company's quality management system.
33 The Product Quality Assurance Index with a maximum of 100 points reflects the capacity to ensure product quality performance.
34 The Product Quality Score with a maximum of 100 points reflects the actual quality of the products. 35 Responsible Marketing Policy
114 115Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Advocation of Responsible Drinking Responsible Marketing Audit
The Company actively advocates responsible drinking. Product packaging clearly states ingredients and alcohol content and Each year the Company engages an independent third party to conduct responsible marketing audits covering implementation
prominently features the warning label: "Excessive drinking is harmful to health." On its official website browsing permissions of the responsible marketing policy marketing training marketing conduct advertising and publicity market activities after-
distinguish between users aged 18 and those under 18 and product pages state "Alcohol is not sold to minors" and "Do not drive sales service and other areas and issues the Special ESG Audit Report on Responsible Marketing for Kweichow Moutai Co. Ltd.after drinking." In television and online advertising the Company emphasizes "promoting responsible drinking" and "underage The report identifies audit findings and rectification recommendations across seven aspects including target audiences for
drinking is prohibited" while prominently displaying signs in business premises stating that alcoholic products may not be marketing activities digital marketing and social media controls on-site management of responsible guidance in promotional
sold to minors thereby fulfilling its duty to protect minors. In addition advertisements may not encourage drinking or promote activities supervision and training of distributors and channel partners the completeness of the responsible marketing policy
excessive alcohol consumption underscoring the protection of public health and social safety. and so on. The Company continues to urge relevant departments to implement audit rectification recommendations.The Company has set up responsible drinking promotion zones at brand promotion events has organized various sales terminal At the same time each sales business unit carried out special internal audits covering areas such as management of supplier
outlets to actively participate in responsible drinking activities and has advocated for civilized and moderate drinking concepts. teams market expenses advertising and publicity and service quality and efficiency. More than 10 internal audits were
conducted in total systematically evaluating the effectiveness of internal controls over key business links.Case Responsible Drinking Awareness Campaign Responsible Marketing Training
The Company embeds the concept of responsible marketing into daily operation management and regularly conducts
In October 2025 the Company participated in the 23rd China International Alcoholic Drinks Expo organized by the responsible marketing training for all employees and distributors.China Alcoholic Drinks Association. Concurrently it launched a Responsible Drinking Awareness Week campaign
across all its stores nationwide marking the eleventh consecutive year of its involvement in this initiative. During
the awareness week the sales business units communicated the concept of responsible drinking to consumers
by repeatedly broadcasting themed videos displaying responsible drinking promotional posters participating Performance Highlight
in public service short film production and compiling educational manuals. Through these concrete actions
they demonstrated corporate social responsibility and contributed to fostering a civilized and moderate drinking
environment. Employee coverage reached Distributor coverage reachedResponsible
marketing training 100% 100%
Sales Business Unit Training Participants and Results
Sales 6 employee training sessions covering 263 participant-times; 7 training sessions for
Company channel partner covering 1806 participant-times.Conducted the Responsible Drinking Awareness Week Campaign Nationwide
13 employee training sessions covering more than 1000 participant-times;
Moutai-Flavor 6 distributor training sessions covering 226 participant-times; 10 training
Baijiu Company sessions for experience center staff and full-time tasting specialists covering 816 participant-times; and 1 training session for customer specialists and full-time sales
Case The 2nd China Alcohol Culture Conference representatives covering 2281 participant-times.In September 2025 the Company participated in the
2nd China Alcohol Culture Conference. The conference Laymau Baijiu 5 employee training sessions covering more than 600 participant-times;
proposed that an important task for the industry is to Company 6 dealer training sessions covering more than 800 participant-times.achieve cultural self-reflection cultural self-awareness
cultural self-renewal and cultural self-confidence while
advocating a drinking culture centered on gratitude and
mutual respect expressive sharing prioritizing benefits Import and
5 employee training sessions covering 144 participant-times; Dealer training in
Export Company 3 phases covering 284 participant-times; One phase of inheritor training covering to others while also appreciating personal enjoyment. 20 participant-times.It called for a return to the original values of taking
alcohol as a gift provision and happiness for life.Conference Site
116 117Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Case Responsible Marketing Training Content (Partially Listed) Case Responsibility in Action Across the Entire Employees
In 2025 the Company incorporated the responsible marketing related training courses series into its regular mandatory
training system for all employees. Through an institutionalized learning mechanism the Company ensures that every
Legal employee participates in training. The course content covers the fundamental concepts core elements consumer
Compliance rights protection real industry cases and relevant laws and regulations related to responsible marketing thereby
Responsible Accuracy and enhancing employees' understanding of responsible marketing philosophy.Marketing Fairness of
Principles Information
C omply with laws and
regulations including the
Comply with laws Advertising Law of the Provide truthful and accurate
regulations industry rules People's Republic of China marketing information
and market guidelines; and the Law of the People's including product packaging
Republic of China on the and advertising content;
Observe all rules and Protection of Consumer
regulations issued by Rights and Interests; Do not use misleading
competent authorities as information to promote
well as industry self-discipline A ctively observe business products.commitments; ethics and other moral
standards.Incorporate sustainable
development principles
throughout the entire
marketing decision-making
process.Online Training of Responsible Marketing Series Courses
Case Empowering the Entire Network and Passing On Craftsmanship
From May to October 2025 the Sales Company conducted
Target Advocation of seven rounds of integrated marketing training across Audience for
Products or Responsible 31 provincial regions nationwide covering provincial
Publicity Drinking operations personnel outsourced employees of self-
operated companies and crucial channel partners. The
training focused on the core themes of "cultural leaders hip
Target audiences may not include P romote responsible drinking and and practical empowerment" systematically addressing
minors pregnant women or other healthy lifestyles; topics such as Moutai culture and service processes and
groups for whom alcohol consumption included on-site visits to the factory to strengthen the
is inappropriate; A ctively communicate the potential integration of theory and practice. Additionally online
risks of drinking. training sessions were held monthly covering all emplo-
Require channel partners and self- yees and distributors.operated companies not to sell
alcoholic products to minors. Sales Company Conduct Thematic Training
118 119Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Case Company and Distributors Working Together to Shape the Future Case Empowering through Compliance and Taking Responsibility Global
To promote implementation of responsible marketing In 2025 the Import and Export Company conducted five
concepts among distributors in 2025 the Moutai-Flavor specialized training sessions covering customs laws and
Baijiu Company organized a themed business training regulations overseas marketing international talent dispatch
program for distribu tors and their teams under the banner mechanisms and corporate culture. The training emphasized
of "Teaching with Method Appreciating Moutai's Nine compliance requirements and behavioral guidelines such as
Chapters Together; Company and Distributors Working as "no false reporting of product prices no misleading statements
One to Draw the Blueprint for Sauce Aroma." The program prohibition of alcohol sales to minors approval of marketing
strengthened distributors' customer service capabilities and materials protection of customer privacy and promotion of
responsible marketing awareness. responsible consumption." Additionally onboarding training was
Moutai-Flavor Baijiu Company Carry out Thematic Training provided for new employees to continuously strengthen their
awareness of responsible marketing.Import and Export Company Carry
out Thematic Training
Working with Distributors
Case Deepening Compliance and Raising Awareness
The Company formulated and implemented systems including the Measures for Channel Partner Management of Kweichow
To enhance employees' risk compliance awareness and Moutai Baijiu Sales Co. Ltd. and the Measures for Distributor Management of Guizhou Laymau Baijiu Co. Ltd. These measures
prevention capabilities the Laymau Baijiu Company clarify channel partners' management responsibilities strengthen their service awareness standardize business processes
formulated the 2025 Special Training Plan on Advertising and enhance the precision of channel management.Furthermore through performance-driven governance empowerment
and Publicity Risk Compliance and organized all employees support and capability training the Company drives steady improvements in channel partners' customer acquisition service
to study the Advertising Law of the People's Republic of delivery and operational capabilities. This fosters a long-term win-win partnership between the Company and its distributors.China. It also conducted dedicated online training covering
the Advertising and Publicity Management Measures of
Guizhou Laymau Baijiu Co. Ltd. and the Terminal Image
Construction Management Measures of Guizhou Laymau Financial Impact
Baijiu Co. Ltd. (2023 revised edition) systematically streng-
thening compliance awareness and operational capability In 2025 the Company invested approximately RMB 170 million in responsible marketing management further improving its
in advertising and publicity across the employees. responsible marketing management system. In the future the Company will remain consumer-centric focusing on optimizing
Laymau Baijiu Company Carry out Thematic Training products enhancing channels and refining services to reduce operational risks that may arise from marketing activities
thereby driving sustainable growth in sales revenue.
120 121Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Risk Management Metrics and Targets
The Company regularly identifies assesses responds to and improves the management of responsible marketing risks The Company routinely tracks and evaluates its responsible marketing efforts continuously standardizing and optimizing its
continuously optimizing its responsible marketing risk management system. marketing activities.Drawing on historical data and industry cases the Company At least once each year the Company conducts risk Cumulative visits to distributors in 2025
comprehensively assesses risk levels as follows: identification work by reviewing its risk information
Major risks: risks that may trigger severe public opinion repository and risk database and dynamically identifying
incidents legal proceedings or major fines such as false newly emerging risks in light of changes in the external
advertising or infringement of consumer rights; environment and internal business adjustments. These
S ignificant risks: risks that may have a substantial impact risks cover areas such as compliance in advertising and Sales Moutai-
on brand image or market trust such as infringement issues publicity social responsibility in brand activities proper Company 15983 times Flavor Baijiu 30843 times
involving promotional items or inappropriate publicity use of promotional items and protection of consumer Company
content; information. The process results in an annual Risk
General risks: risks with limited and controllable impact Database that clearly defines risk points responsible
such as non-standard publicity wording or inadequate departments sources of risk and response measures.training.Risk Assessment Risk Identification Laymau Import
Baijiu 11344 times and Export 116 times
Company Company
Customer Relationships
Risk Response Risk Management The Company establishes a standardized customer relationship management system covering customer service and after-sales
Improvement follow-up. During the reporting period it newly issued institutional documents such as the Product Replacement and Rework Management Provisions of Kweichow Moutai Baijiu Sales Co. Ltd. the Detailed Rules for Customer Follow-up Management of
Differentiated response measures are adopted based on risk level: Each year the Company prepares an Kweichow Moutai Baijiu Sales Co. Ltd. and the Detailed Rules for Distributor Classification Service of Kweichow Moutai Jiang-
Major risks: formulate dedicated emergency response plans clearly annual risk and compliance report flavor Baijiu Marketing Co. Ltd. covering product service distributor management and customer service and strengthening
define responsibilities public opinion response mechanisms and legal based on risk events audit findings closed-loop management throughout the entire pre-sales in-sales and after-sales process.support pathways; complaint feedback and changes
Significant risks: optimize process controls strengthen review of The Company has established a standardized complaint handling mechanism primarily receiving complaints through the in external regulation summarizing
publicity content tighten contractual constraints and carry out targeted 4008189999 service hotline and the online customer service of the iMoutai App. It has clearly defined time limits and procedural the effectiveness of risk responses
training; requirements for investigation handling and feedback. At the same time provincial regional companies are responsible for and putting forward optimization
G eneral risks: incorporate into routine management and control them handling inquiries and complaints from distributors and other service recipients under their jurisdiction. recommendations.on a normalized basis through measures such as policy revisions. Each year the Company commissions an authoritative third-party institution to conduct customer satisfaction surveys covering
both consumers and distributors. In 2025 overall satisfaction reached 93.7 points reaching the annual target.
2025 Customer Relationship Data
Product Recall Incidents Revenues Generated From the Online Sales Platform
0cases RMB 13.437 billion
In 2025 the Company conducted a brand perception survey. In the annual customer satisfaction survey all six perception
indicators - brand reputation perceived brand prestige brand performance in fulfilling social responsibility brand culture
building alignment between brand positioning and consumer perception and brand awareness - scored above 96 points
remaining at a high level.
122 123Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Product Cultural Connotation
In 2025 the Company centered its efforts on product innovation and value enhancement completing the development of more
than 40 products spanning the Moutai Baijiu and Jiang-flavor series. These included releases such as Kweichow Moutai Baijiu (70th
Anniversary of the Launch of the Five-Star Trademark) Kweichow Moutai Baijiu (Drum Music Flying Fairy) and Kweichow Moutai
Baijiu (Boutique) which further enriched the cultural connotation and brand expression of the product portfolio.
53% vol. 500ml Kweichow 53% vol. 500ml Kweichow
Moutai Baijiu (70th
53% vol. 500ml Kweichow Moutai Baijiu (Boutique)Anniversary of the Launch of
the Five-Star Trademark) Moutai Baijiu (Chinese
Zodiac Year of the Horse)
Prestige Edition The refreshed packaging follows
a design concept of inheritance
Using "one day one bottle" as its 53% vol. 500ml Kweichow plus innovation. The bottle 53% vol.500ml Kweichow
distinctive product identity marker Moutai Baijiu (Drum Music adopts an overglaze decoration Moutai Baijiu (Chinese
each bottle is imprinted with a Continuing the packaging style Flying Fairy) and design philosophy of the technique continuing the product's Zodiac Year of the Horse) unique identification code. The longstanding cultural lineage Classic Edition
design pays homage to the vintage Moutai Zodiac Series this product 53% vol. 500ml Moutai 1935
adopts premium Baijiu quality and while fully preserving classic visual 1954 bottle features the Five- Baijiu (Prestige)symbols such as the sauce-colored
Star trademark and innovatively Drawing creative inspiration from is housed in a wooden gift box. It ceramic bottle and seal-style Featuring the Qi Purple as its
incorporates a traditional "Luban the classic image of a flying apsara ingeniously integrates the dougong engraved stamp giving the product primary hue the overall design
lock" opening mechanism and in dynamic motion while beating bracket structure and a metal The product uses a color palette
illustrations of Moutai's five major a drum in the mural of Cave 254 at motif of "a horse treading upon
a more pronounced aesthetic inherits thematic elements
texture and three-dimensional from traditional Chinese zodiac of Fortune Red and Chishui
processes on the outer box. the Mogao Grottoes in Dunhuang auspicious clouds" with the Baijiu Gold. The bottle cap is accented
China this product also adopts bottle. Employing the intangible presence.culture the Five Elements
philosophy calligraphy and with a red ribbon against a
the traditional Chinese color State cultural heritage technique of "gold painting arts and classical matte gold base and the bottle
of Qi Purple as its dominant tone. and silver inlay" exquisite patterns shoulder adopts a three-tiered
The bottle presents a mineral echo the theme of the Fire Horse
Chinese colors. At the same time
it innovatively integrates diverse stepped design. The bottle body
ceramic texture consistent with Year. cultural influences such as presents historical scenes such
ancient Dunhuang murals renowned traditional ceramics as the origin of Moutai Baijiu the
perfectly integrating Moutai intangible cultural heritage crafts route of Sichuan salt through
culture with Dunhuang Flying and sculptural art. Guizhou and the thousand-year
Fairy culture. heritage of distilling artistry. The
front of the gift box features a
double-layer three-dimensional
structure paying tribute to joy
through quality and honoring
memorable moments through a
premium experience.
124 125Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Cultural Empowerment
The Company innovates cultural expression enriches cultural activities and upholds the principle of cultural empowerment
driving the creative transformation and innovative development of Moutai culture. Case Moutai Fans Carnival
From May to December 2025 the Company held the Moutai Fans Carnival in locations such as Maotai Town Wuzhen
and Yangzhou. Walking alongside over 4000 "Moutai Fans" participants touched the essence of craftsmanship through
Case Hongyingzi Sorghum Harvest Season Event immersive experiences strengthened emotional resonance through sharing and connected with cultural charm and brand identity through the activities.In August 2025 the Renhuai-featured venue of the
China Farmers' Harvest Festival Gala and the Yisi Year
Moutai Hongyingzi Sorghum Harvest Season concluded
successfully. By combining traditional rituals such as
the "Ancient Granary Ceremony" and the "Hongyingzi
Market" with modern performances the event transfor-
med respect for reverence for and affection for farming
into a distinctive cultural IP. It infused agricultural
activities with deeper cultural meaning and effectively
converted cultural resources into industrial cohesion
and momentum for rural development.Hongyingzi Sorghum Harvest Season Event Site
Guizhou Moutai Fans Carnival Site
Case The first Chishui River Forum
Case 2025 Moutai Baijiu Festival In October 2025 the first Chishui River Forum was held in Maotai Town. Bringing together renowned Chinese and
international companies cultural institutions and international organizations the forum built industry consensus
In October 2025 the Company held the 22nd Moutai through the International Famous Baijiu Chishui River Declaration and the Initiative for High-Quality Development of the
Baijiu Festival under the theme "Follow the Nature Global Baijiu Industry transforming the ecological wisdom of "the unity of humanity and nature" into a shared principle for
and Respect the Man Seek Truths and Cultivate sustainable industrial development. With ESG as its connecting framework the forum also extended cultural empowerment
Virtues." Through ceremonies such as paying tribute into areas such as ecological protection in production regions and the living transmission of intangible heritage skills.to predecessors and presenting the Three Offerings
the event carried forward the values of loyalty and filial
piety. The Company also released the Oral History of
Moutai Baijiu Distilling Technique Inheritors systematically
documenting the craftsmans hip and personal journeys
of 23 inheritors and advan cing the protection of this
national intangible cultural heritage into a new stage.Moutai Baijiu Festival Master-Apprentice Ceremony Site
Chishui River Forum Site
126 127Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
In 2025 448 450
Employee Upholding the philosophy of "integrity and competence putting every talent to the best use and advancing together with the enterprise" Number of new hires 249 247
Management the Company continues to improve its talent systems and training mechanisms safeguards employee rights and benefits and works 697
with employees to build a "Happy Moutai."
Number of Number of Number of new Number of
new male new female hires aged 30 new hires aged
hires hires and below 31 and above
Compliant Employment In 2025 220 183
136
The Company complies with laws and regulations including the Labor Law of the People's Republic of China the Labor Number of employees 99
Contract Law of the People's Republic of China and the Provisions on the Prohibition of Child Labor. In accordance with the selected through
Employee Recruitment Management Measures it standardizes recruitment procedures and oversight mechanisms to ensure internal recruitment
that hiring is compliant fair and transparent. The Company signs performs amends terminates or ends labor contracts with
employees in accordance with the law and firmly prohibits forced labor and the employment of child labor. 319 Number of male Number of female Number of Number of
employees employees internally selected internally selected
selected selected employees aged 30 employees aged 31
through internal through internal and below and above
recruitment recruitment
Employee Employment Data in 2025
In terms of talent recruitment the company continuously optimizes the selection and appointment mechanism and conducts
background checks and qualification reviews for the candidates who are about to be hired. The assessment is conducted from
aspects such as academic integrity professional ethics and professional skills to ensure that the recruited talents are both
competent and virtuous.By the end of 2025 23755 25788
Total number of 11237 Compensation and Performance
employees 9204
34992 The Company has established a sound compensation system to ensure that employee pay is no lower than the local minimum wage standard. It uses a range of performance evaluation methods including management by objectives 360-degree feedback
team performance assessment and agile dialogue and conducts periodic quarterly evaluations to assess employee performance
Number of male Number Number of Number of
employees of female employees aged employees aged promptly and fairly.employees 30 and below 31 and above
Annual
Management Compre- Organizational Individual
by Objectives hensive Performance Performance
Indicator 2025 Assessment
Evaluation Evaluation
Overall employee turnover rate 0.42% In strict compliance The Company formulates The Company has established The Company has established an
with the Annual Work annual comprehensive an organizational performance individual performance evaluation
Turnover rate of employees aged 30 and below 0.58% Objectives Management assessment measures evaluation mechanism. It system covering three dimensions-
Provisions the Company and supporting combines Key Performance work results capability and
sets cascades tracks systems sets annual Indicators (KPIs) and attitude-combining quantitative
Turnover rate of employees aged 31 and above 0.36% and manages objectives evaluation indicators Objectives and Key Results assessment of results with
through a top-down and clarifies incentive (OKRs) and evaluates qualitative evaluation of capability
process and implements and accountability organizational performance and attitude. It conducts quarterly
corresponding rewards mechanisms to ensure fair comprehensively across five reviews and annual evaluations
and accountability and impartial assessment dimensions: workload work and the results are applied to
measures based on results. quality process control service performance-based compensation
achievement. level and learning and growth. merit awards.
128 129Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Equality and Inclusion
The Company complies with laws and regulations including the Trade Union Law of the People's Republic of China and the Gender Breakdown of Management and Professional Personnel in 2025
Law of the People's Republic of China on the Protection of Women's Rights and Interests . It has formulated and publicly
released the Kweichow Moutai Co. Ltd. Employee Rights Protection Policy 36 and continues to improve its employee rights Indicator 2025
protection system. The company legally guarantees employees' rights to join trade unions engage in collective bargaining
etc. ensuring that employees can communicate with the management in a fair just and transparent environment. In 2025 the Women as a percentage of senior management 22.81%
collective contract signing rate reached 100%.Women as a percentage of junior management 24.13%
The Company adheres to the principle of equal pay for equal work and prohibits discrimination of any kind based on region
ethnicity religion pregnancy or other factors. It is committed to building a fair and equitable workplace free from discrimination Women as a percentage of all management 24.06%
and harassment. The Company conducts training on diversity equality and inclusion policies and communicates the Employee
Rights Protection Policy Women as a percentage of employees in revenue-generating functions 34.24% to all employees covering anti-discrimination and anti-harassment occupational health and safety
privacy protection and other topics. Women as a percentage of employees in STEM-related roles 16.57%
Women
Employees' Key Measures Ethnic Breakdown of Management and General Employees in 2025
Rights Protection
The Company has established a "weekly legal duty + monthly legal outreach" mechanism to
provide one-on-one professional consultation for women employees. The Trade Union Labor Legal 6.15% 4.31%
Legal Rights Supervision Committee advances implementation of the "One Letter Two Documents" system Ethnic minority Ethnic minority
Protection mechanism promotes the implementation of laws and regulations such as the Special Provisions on management Ethnic Ethnic general employees
Labor Protection for Female Employees and participates in revising rules and regulations related to composition composition
women employees' rights and interests. of the of general
The Company regularly organizes study activities on multiple laws and regulations including the Law 93.85% management employees 95.69%
Legal Publicity of the People's Republic of China on the Protection of Women's Rights and Interests and the Special Han management Han general
and Education Provisions of Guizhou Province on Labor Protection for Female Employees. It has also innovatively employeeslaunched the "Trade Union Legal Education: E-Law with Me" micro-video competition selecting
outstanding works to promote legal awareness in an engaging format.The Company signed and implemented the Special Collective Contract on the Protection of Female
Implementation Employees' Special Rights and Interests with key provisions covering seven major rights including
of Special Rights recruitment compensation and rest and leave. Carry out the "four periods" protection measures Employee Development
and Benefits provide female employees with medical insurance and maternity insurance and organize health
check-ups and screening for "cervical and breast cancers" for over 10000 people. The Company has established a scientific In 2025
Build a "Women's Workers' Home" equip it with breastfeeding rooms parking spaces and comprehensive employee growth and
Other Female exclusively for pregnant women provide hygiene products and labor protection supplies training system and is committed to building average training investment and average training hours
Benefits and organize activities such as parent-child interaction handicraft making and themed a highly qualified and professional workforce per employee per employee
reading that are beneficial to women. to support its sustainable development.RMB 1650.33 18.49 hours
Case Women Employees' "Rights Protection Month" Legal Awareness Campaign
Career Development Support
In March 2025 the company organized a series of legal
education activities under the theme of "Women Employees' The Company has established a comprehensive grade system and in accordance with the Position Grade Management
Rights Protection Month." Through centralized training online Measures clearly defines grade classifications development paths and qualification requirements to provide employees
learning seminar exchanges and dedicated consultation with clear career progression channels. It follows institutional rules such as the Measures for the Evaluation and Appointment
hotlines the initiative aimed to popularize laws and regulations of Professional and Technical Titles and the Measures for the Assessment and Appointment of Vocational Skill Levels and
such as the Law of the People's Republic of China on the Protec- has formulated plans to support academic advancement and professional title evaluation continuously helping employees
tion of Women's Rights and Interests. The training reached over achieve career and personal development.
11000 participants. Women Employees' "Rights Protection Month"
Legal Awareness Campaign In 2025
the Company recommending skill level assessments skill level and it carried out
In addition the Company has established feedback channels and encourages employees who believe they have experienced completed title for more than appointment academic advancement
discrimination harassment defamation behavior to seek consultation file complaints or request assistance from the trade appointments for certification for
union and other relevant departments. The Company always upholds strict confidentiality fully respects and protects the lawful
rights and interests of whistleblowers and handles violators in accordance with Company rules and regulations. Where unlawful 320 67 2570 8783 648
conduct is involved the matter is referred to the relevant authorities for legal accountability. employees employees for intermediate people people people
36 Employee Rights Protection Policy or senior professional titles
130 131Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Leadership Training
Case "Helmsman Project" Leadership Training
The Company organizes multi-level leadership In 2025 The Heyixing Branch Company has launched the
training covering succession planning and "Helmsman Project" leadership training program
career path design providing employees with delivered covered more than for senior executives and reserve talents. Focusing career development training aligned with their on areas such as enterprise strategic management
roles and growth objectives. more than 786 35000 financial risk prevention and control and the
application of artificial intelligence technology the
training sessions on leadership digital transfor- participant-times program provides training through theoretical learning
mation cultural education and related topics and case discussions to enhance the capabilities of the
key talent pool."Helmsman Project" Training Session
Case Management Capability Enhancement Training
Focusing on the core capabilities of managers the Company delivered training on topics including work style Skills Training
development role transition strategy execution performance management and team building supplemented by offline
practical seminars and site visits to promote learning reflection and application.The company continuously improves its talent development system providing every employee with multidimensional skills
training and development support throughout the full career cycle.The Company further advanced its "Eight-Step Craftsman" development program. By establishing a leadership group for
job-based skills drills and skills competitions it regularly organized training and competitions; in 2025 a total of 448 such
activities were carried out effectively consolidating employees' professional foundations. At the same time the Company
actively implemented a mentorship program forming 133 mentor-apprentice pairs in 2025 with 127 apprentices completing
training thereby substantially strengthening Moutai's pool of craftsman talent."Eight Steps to Cultivate Craftsmen" Talent Cultivation System
Professional
Technical
Moutai Position
Craftsman
Management Capability Enhancement Training Excellent Shift (Team) Lead
Backbone
Cultivation
Master-
Apprentice Hardened
Into Steel
Case Special Training on Digital Transformation Skills Recognition Subli-
mation
The Company held a special training program on Job Training Quenching
digital transformation focusing on core topics Induction Training
such as Digital Economy and Enterprise Digital Refining
Transformation and DeepSeek-Driven Enterprise
Digital and Intelligent Transformation. The training Hammering
enhanced participants' understanding of digital
transformation expanded their knowledge and Smelting
skills and laid a stronger foundation for advancing Forging
the Company's digitalization. Into the
Digital Special Training Session Furnace
132 133Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
New Employee Training
The company adopts a model that combines internal and external instructors and In 2025
integrates training with practical operations to conduct new employee training. The
content covers behavioral training theoretical learning and sand table simulation Case Corporate Culture Presentation
etc. It implements closed-loop management of pre-training assessment in- Completed training for
training drills and post-training evaluation facilitating the transformation of new
employees from students to professionals and finally to "Moutai people". 697 The company organized an enterprise culture promotion event. Through in-depth interpretation of the essence of the enterprise culture and combined with the actual job positions they conducted exchanges and sharing further
new employees strengthening the employees' sense of identification with the enterprise culture.Case 2025 New Employee Orientation Training
In April 2025 the Company organized its annual centralized training for new employees. Through systematic courses
and behavioral training it covered ideology and values corporate culture laws and regulations production safety and
occupational health professional skills and other topics helping new employees adapt quickly to the workplace.Corporate Culture Training Site
Employee Care
New Employee Orientation Training
The Company attaches great importance to protecting employees' rights and interests actively builds communication channels
to listen to their voices and organizes a variety of cultural and sports activities to promote the well-rounded development of its
employees.Corporate Culture Training
Employee Rights and Interests
The Company continues to conduct corporate culture communication programs to internalize cultural values and strengthen
employees' sense of identity and team cohesion.The Company complies with national laws and regulations and has formulated the Leave and Attendance Management Measures
to ensure that employees enjoy their statutory holidays maternity leave breastfeeding leave and caregiver leave in accordance
During the year with the law. Strictly implement the calculation standards and payment deadlines for overtime wages ensure that employees
receive legitimate economic compensation for overtime work and through regulatory systems and process optimization strictly
control the duration of overtime work and prevent excessive overtime effectively balancing employees' work and life.it organized reaching
155 15934 In addition based on our actual business operations and job nature we have established a flexible working hours system. For employees who follow non-standard working hour systems we adopt methods such as concentrated rest implementing
corporate culture briefing sessions people rotational and compensatory leave and adopting flexible working hours.
134 135Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Employee Benefits Employee Activities
In accordance with national laws and regulations we pay "Social Security and Housing Fund" for our employees and establish The company actively promotes a healthy lifestyle by organizing a wide range of cultural and sports activities which enhances
an enterprise annuity system. Additionally we tailor personalized support plans for different types of employees and integrate communication and cooperation among employees promotes a balance between work and life and continuously strengthens
people-oriented care into the details of the welfare system ensuring the rights and well-being of every employee. the team's cohesion and employees' sense of achievement.Employees stationed in Young employee
other provinces/cities Case Launching a Wide Range of Cultural and Sports Activities
Provide career planning counseling;
I mplement the "22+8" leave system and provide The company has launched a series of cultural and sports activities offering free interest classes in various fields
family visit leave; Organize activities for unmarried employees such as guitar calligraphy and painting and providing specialized public courses to meet the diverse interests of the
to build a platform for communication and
M inimize the number of female employees employees.friendship;
stationed in other provinces/cities as much as
possible. Establish various interest groups such as
photography reading and sports.Retirees Hardworking employees
Carry out welfare activities during traditional Establish a systematic assistance mechanism to
festivals such as Chongyang Festival and Spring alleviate the economic difficulties of employees
Festival; caused by unexpected events natural disasters
Arrange personalized free health check-ups for or major illnesses in their families; Cultural and Sports Activities
retirees; Carry out visits and condolences during the
Organize various colorful cultural and entertainment Spring Festival;
activities such as calligraphy singing and dancing. Set up charity funds and mutual aid funds.Case Holding the Employee Sports Meet
Employee Communication From June to September 2025 the Company held its Employee Sports Meet featuring 15 competition events and
attracting nearly 4000 participant visits. A total of 57 first prizes 260 second prizes and 354 third prizes were awarded
We have established an inter-connected communication mechanism using multiple channels-including the "Colleague Bar" showcasing the workforce's strong spirit of teamwork perseverance and enterprise.platform the "Direct Line to Chairman" regular discussion forums and questionnaire surveys-to collect employee feedback
extensively and respond in a timely manner. It regularly discloses results and improvement plans establishes dedicated
working groups and actively implements corrective measures.We focus on dimensions such as satisfaction self-motivation happiness work pressure and dedication and set up research
indicators including work conditions teamwork training and development performance management and salary and
benefits. We conduct employee satisfaction surveys every year. In 2025 the Company's employee satisfaction score was 80.92
its employee engagement score was 88.01 and its corporate culture identification score was 92.67.Staff Sports Day Site
136 137Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Health and The Company always places employee health and safety first and is committed to building an occupational health and safety management
Safety system that covers all employees creating a strong safety safeguard for every employee.Management System
The Company complies with laws and regulations including the Law of the People's
Republic of China on the Prevention and Control of Occupational Diseases and
the Work Safety Law of the People's Republic of China . It has formulated and
publicly released the Kweichow Moutai Co. Ltd. Occupational Health and Safety Board
Policy.37 which applies to all subsidiaries and branches and covers all employees Strategy
and it encourages all business partners including suppliers and distributors to Committee
comply with this policy. In addition the Company has established internal rules
such as the Rules of Procedure for the Work Safety and Fire Protection Committee
the Provisions on Oversight of Work Safety Management the Detailed Rules for
Safety Organization Management and the Provisions on Occupational Health
Management. Through systematic institutional development it has laid a solid
foundation for the standardized operation of the occupational health and safety
management system. Work Safety
and Fire
The Board Strategy Committee is the highest decision-making body for health Protection Occupational Health and Safety Management System Certification of Kweichow Moutai Subsidiaries and Branches
and safety matters responsible for making decisions providing guidance and Committee
exercising supervision over health and safety issues and is expressly authorized to
set workplace safety targets. The Work Safety and Fire Protection Committee under
it carries management responsibilities including implementing national laws and
regulations on work safety supervising execution of occupational health and safety Employee Safety Management
strategies evaluating performance formulating policies and tracking progress Wellness Management
against targets. In addition the Company has established Employee Wellness Leading The company starts from aspects such as source management and awareness enhancement and builds a security guarantee
Management Leading Group led directly by senior management to implement Group system that includes pre-event prevention in-event tracking and post-event improvement.health and safety strategies and performance management improve the
organizational and service support system for employee wellness and coordinate
all employee health and safety matters. Occupational Health and Safety Management Mechanism
Management Structure
At the same time the company has designated its General Manager to lead and
advance the health and safety strategy and performance management linking key The company in accordance with national laws and regulations has established a scientific and comprehensive safety
health and safety performance indicators directly to the General Manager's own management mechanism formed a professional emergency response team strengthened material reserves improved
performance evaluation and compensation. emergency response plans and regularly organized drills to ensure the safety of employees and the company's property.The company implements the safety production responsibility system organizes all employees to sign the "Safety Production
and Fire Safety Target Responsibility (Commitment) Letter" clearly defining the safety responsibilities at all levels and ensuring
In accordance with the ISO 45001 standard the Company has established an that responsibilities are assigned to specific positions and individuals.occupational health and safety management system and conducts both internal
and external audits and certifications every year to ensure its effective operation. In 2025
By the end of 2025 the Company had obtained ISO 45001 occupational health
and safety certification with the certification scope covering all subsidiaries and
branches operating sites and businesses. Work injury insurance Investment in safety Coverage rate of work injury Safety production
investment production liability insurance and safety production expenses
insurance liability insurance for employees
37 RMB Occupational Health and Safety Policy 65.36million RMB 283800 100% RMB 117 million
138 139Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Safety Awareness Enhancement
The company enhances employees' safety awareness and emergency response capabilities through emergency drills and regular
safety awareness education creating a favorable atmosphere where "everyone talks about safety".Case Electrical Accident Special Emergency Drill
Case "Safety Six Provisions" Safety Education and Promotion Innovation Practice In December 2025 the company organized a special electrical emergency drill. It simulated scenarios where lightning
struck the 10kV high-voltage line in the plant area causing equipment power outages workshop shutdowns personnel
The company closely focused on key areas such as risk prevention and control in fields like "Safety Six Provisions" injuries and cable fires. The exercise focused on testing response procedures for key steps such as incident reporting
hazardous chemicals and boiler operation. It innovated the forms of publicity and education enriched the publicity rescuing the injured on-site handling and production recovery.carriers and meticulously produced a series of comic illustrations and special educational videos on safety production
knowledge. Relying on distinctive content such as "Xiao Mao Lecture" "Safety Six Provisions" and "Xiao Mao Talks
about Confined Spaces" it used visual and popularized expressions like diagrams and animations to break through
the dull and rigid nature of traditional safety education and gradually guide all employees to achieve a progressive
progression from "knowing" to "understanding" and "mastering" of safety production knowledge truly making the
safety concept deeply rooted in their minds and the safety regulations effectively implemented and practiced.Electrical Accident Special Emergency Drill
Dust-related Explosion Safety Animation Dust Explosion-related Comics Exhibition Board
Case Emergency Drill for Operations in Confined Spaces
In October 2025 the company conducted a drill for
on-site handling of accidents involving confined
Case Emergency Drill for Gas Leakage in the Cafeteria space operations. By simulating a scenario where an employee suddenly felt unwell and fainted while
working in a confined space the drill focused on
In March 2025 the company conducted an emergency testing the emergency response capabilities of the
drill for gas leakage in the cafeteria. The drill simulated team members in aspects such as accident reporting
a gas pipeline leakage scenario with a focus on testing emergency rescue and coordination of procedures.the emergency response and collaborative handling
procedures of multiple teams such as warning and
evacuation rescue and emergency medical treatment.This effectively enhanced the company's ability to
respond to emergencies and handle situations on-site.Gas Leak Emergency Drill Emergency Drill for Confined Space
140 141Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Occupational Health Training System
The Company has established a sound occupational disease prevention and control oversight system and strengthened The company has established a scientific occupational health and safety training In 2025
the management of occupational hazard factors with the aim of creating a healthy and comfortable work environment and system formulated an annual training plan and conducted training on fire safety
safeguarding employee safety and health. occupational disease prevention and control etc. related to occupational health
and safety covering employees labor outsourcing suppliers and other relevant more than 4200
parties continuously strengthening the safety defense line. occupational health and
safety training sessions were
Management Mechanism organized
The Company continuously identifies key risk factors that may lead to occupational injury and adopts multiple prevention and
control measures to effectively protect employees' occupational health and safety. During the reporting period the Company
reported no suspected or confirmed occupational disease cases. Case Occupational Health Training Series
In 2025 the company will conduct a series of occupational health training programs covering topics such as the
interpretation of laws regulations and policies related to occupational disease prevention and control prevention
Regularly conduct testing for occupational hazards in the workplace and promptly and control of occupational disease hazards management and intervention of workers' mental health and labor
communicate the results to employees; protection training.Monitoring and
Control of Occupational Advance measures such as starter material screening bulk-bag packaging upgrades
Disease Hazards to tools and equipment and retrofitting of outdated equipment while strengthening
the "three simultaneous" management of occupational disease protection facilities in
construction projects so as to reduce dust and noise at work sites.Provide employees with labor protection supplies to prevent and reduce occupational
hazards;
Provision of
Protective Equipment Establish occupational health and safety operating procedures for each position to
standardize work practices and the use of protective equipment and eliminate unsafe
operations. Occupational Health Training Series Site
Develop an occupational disease prevention and control plan to advance the manage-
Occupational Disease ment of occupational hazard factors;
Prevention and Control Plan Organize occupational health examinations for employees and implement health Case Specialized Occupational Health Management Training
surveillance.The Heyixing Branch organized a special training on occupational health management. Experts were invited to
Occupational explain the prevention knowledge of hazards such as dust noise and chemical toxins and case studies were used
Health Audit C ompleted a comprehensive audit of its occupational health management system. to analyze the management requirements for protective equipment and labor protection supplies.R equire suppliers to carry out the certification of the occupational health and safety
management system;
Establish sound admission dynamic evaluation and elimination mechanisms for
Third-Party
Management the partner and prioritize partners with strong occupational health and safety
performance;
Conduct supervision and inspection on the occupational health management of
contractors.Specialized Occupational Health Management Training Site
142 143Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Metrics and Targets
Mental Health
Using 2022 as the baseline year the Company established an annual target of zero major work safety accidents. Through
In 2025 the company launched an Employee Assistance Program (EAP) established a mental health service platform organized systematic assessment and dynamic tracking it continuously monitors the health and safety performance indicators of its
all employees to take psychological assessments compiled mental health assessment reports and provided interpretations employees and contractors conducts continuous analysis of the monitoring results takes improvement measures and
and implemented follow-up care for key personnel. It held over 50 mental health-related online and offline activities reaching continuously refines the safety production management system. In 2025 all the company's annual occupational health and
over 5000 participant visits; conducted 78 on-site visits to front-line teams covering 1450 employees; and provided one-on-one safety goals were successfully achieved.psychological counseling services for employees in need delivering a total of over 1300 sessions.Achievement of Occupational Health and Safety Targets in 2025
Case Launching the EAP Program and May Mental Health Month Activities
2025 Target 2025 Performance Target Achievement
From April to May 2025 the company held an EAP launch conference with over 60 unit leaders attending. At the
same time a mental health month event was organized with professional psychological counselors leading the Zero major work safety accidents Zero major work safety accidents Achieved
team to visit the front lines. Through group counseling and other forms they interacted and communicated with
the employees covering 49 workshops. Additionally two online fun activities were held. Zero work safety responsibility accidents Zero work safety responsibility accidents
of general severity or above of general severity or above Achieved
Timely rectification rate for hazards of Hazard rectification completed on time:
no less than 95.5% 100% Achieved
Occupational disease incidence rate of Occupational disease incidence rate of
zero zero Achieved
Employee safety training rate of no less
than 95% Employee safety training rate: 97.3% Achieved
Mental Health Month Activities Site Work safety maturity score of no less
than 96.1538 Work safety maturity score: 96.5 Achieved
100% internal emergency response rate 100% internal emergency response rate
for emergencies for emergencies Achieved
100% completion rate for emergency 100% completion rate for emergency plan
Case Pilot Mental Health Support Station plan drills drills Achieved
In April 2025 the Company piloted a "Mental Health Support Station" organizing lectures and other activities. It also
leveraged the Company's EAP program and "Health Cabin" resources to enhance employees' sense of belonging and
organizational cohesion. Occupational Health and Safety Performance
Indicator 2024 2025
Number of employee work-related fatalities 0 0
Employee lost-time injury frequency rate
(LTIFR) per million hours worked39 2.05 1.45
Grassroots Mental Health Support Station Activities Site
38 The full score for safety production maturity is 100 points.
39 Formula: LTIFR=(number of lost-time injuries) / (total hours worked in accounting period) x 1000000
144 145Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Public Welfare The Company is deeply committed to public welfare and continues to contribute to rural revitalization interpreting brand responsibility Case Following Nature and Protecting the Earth - Uniting Forces to Safeguard the Mother River
and Rural and commitment through more solid actions.Revitalization Under the China Moutai Backbone of the Nation ecological conservat ion initiative the Company has joined forces
with local governments enterprises distributors and
social capital across the basin to carry out coordinated
ecological actions. These include issuing an initiative for
protecting the Chishui River and collaborating across
Social Welfare Sichuan Guizhou and Yunnan provinces to promote
forest conservation domestic wastewater treatment and
the resource utilization of crop straw thereby effectively 2025 "China Moutai Backbone of the Nation"
Guided by the responsibility philosophy of "Big Brand and Big Responsibility" the Company has built its "Nature-Earth- safeguarding the ecological environment of the river. Ecological Conservation Public Welfare Action
Humanity-Culture" public welfare framework. Focusing on the four areas of ecological protection industry development Launching Ceremony Site
livelihood and education and cultural heritage it fulfills its social responsibilities through concrete actions deepening and
warming the cause of public welfare.Case
China Moutai Backbone of the Respecting Man and Benefiting Communities - "China Moutai · Backbone of the
Nation Public Welfare Program Matrix Nation" Hope Project Education Assistance Initiative
Nature - Following Humanity - Respecting Culture - Illuminating Earth - Advancing Since 2012 the Company has continuously carried out the"China Moutai ·
Nature and Protecting Man and Benefiting Reason and Honoring Shared Prosperity Backbone of the Nation" Hope Project Education Assistance Initiative. By the
the Earth Communities Origins with Virtue end of 2025 cumulative donations had exceeded RMB 1.4 billion with the
MOUTAI-HOPE-H MOUTAI-HOPE-O MOUTAI-HOPE-P MOUTAI-HOPE-E scope of support covering 31 provinces (autonomous regions municipalities
directly under the central government) the Xinjiang Production and
Construction Corps and the national railway system. The program has helped
China Moutai Backbone of the China Moutai Backbone of China Moutai Backbone of China Moutai Backbone of the over 260000 economically disadvantaged students achieve their dream of
Nation - Ecological Protection the Nation - Livelihood and the Nation - Cultural Heritage Nation - Industry Development
Public Welfare Segment Education Public Welfare Public Welfare Segment Public Welfare Segment attending university. It has become the benchmark public welfare project with
Segment the largest corporate donation scale the broadest coverage and the highest
number of beneficiaries since the implementation of the Hope Project.Primarily supports public Primarily supports Primarily supports Primarily supports As of the end of 2025 215000 supported students have completed their "China Moutai·Backbone of the Nation"
welfare actions research charitable programs in fields related to cultural initiatives advocacy studies and are active in various fields of society forming a virtuous cycle of Hope Project Education Assistance
and academic exchanges education assistance communication and partnerships related "supported – succeed – give back." This fully demonstrates brand responsi- Initiative Donation Ceremony Site
related to ecological and livelihood support intangible cultural to rural revitalization bility and commitment.restoration of water and disaster relief and heritage protection and inclusive development
source areas and climate actively collaborates with international cultural and responsible drinking
change mitigation. Using distributors to carry out exchange building a with the aim of building a
ecological protection of public welfare initiatives. funding platform for sustainable development
the Chishui River Basin as Major projects include the cultural preservation. platform based on
the entry point it seeks to "China Moutai Backbone Primarily carries out cooperation and shared
build a model platform for of the Nation" Hope Project cultural public welfare success. It also conducts Case Unveiling the Annual Theme Color "State of Qi Purple" -Reimagining the
ecological civilization in Education Assistance series such as the "Han public welfare projects such Narrative of Traditional Chinese Colors
Guizhou. Major initiatives Initiative the Moutai Prince Jiang·Dedicated Heritage" as the "Benevolence for a
include ecological · Salute to Striving the and the "Moutai 1935 · Myriad Households" and The Company has also launched and supported the "Oriental
conservation actions and Wangmao · Star Project Great Physicians of the the "Prosperous Farmers
the Chishui River Ecological and the Laymau · Growth Nation." Thriving Villages". Traditional Color Initiative" collaborating with color experts and
Public Welfare Fund. in Love Social Welfare scholars to conduct research on traditional Eastern colors develop
Program. a multidimensional model of traditional color systems and promote
their application in cultural creativity exchange training and
education-thereby preserving and advancing Eastern color culture. In
addition the Company hosts an annual color release event. In 2026 it
held the Annual Oriental Traditional Color Release Conference at the Qi
In 2025 the Company invested RMB 121 million in public welfare and was honored with awards including "2025 Most Socially Culture Museum in Zibo unveiling the 2026 representative color "State Eastern Traditional Colors Launch Event Site
Responsible Listed Liquor Company" and the "People's Daily Online Corporate Social Responsibility Award." of Qi Purple."
146 147Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Volunteer Activities
Case Illuminating Reason and Honoring Origins - The "Moutai 1935 · Great Physicians
of the Nation" Public Welfare Project The Company has established volunteer teams such as the "Brewing Youth Volunteer Service Commando" and the "Light of Hope
Youth Volunteer Service Team." During the reporting period it systematically carried out a series of volunteer service activities
translating corporate responsibility into practical actions that serve communities care for the environment and deliver warmth.In 2023 the Company together with the China
Medical and Health Development Foundation
and national distributors of Moutai 1935 jointly
launched the "Moutai 1935 · Great Physicians of
the Nation" public welfare program. Public welfare Case Kweichow Moutai Won Awards in the Fifth Provincial Volunteer Service Project Competition
stations have been set up in 20 cities nationwide
with a targeted donation of RMB 500000 provided
at each station to support the development of local Focusing on ecological protection of the Chishui River the Company
medical institutions in specialty capacity building implemented integrated watershed management and regular volunteer
scientific research and innovation talent training conservation activities. Through initiatives such as regular river patrols
and other fields in a targeted manner. In parallel and beach cleanups water quality testing waste removal green mobility
the Company has undertaken the production of advocacy and biodiversity protection under the "Chishui River Ecological
the documentary Great Physicians of the Nation Conservation Initiative" a total of 38 river patrol service campaigns were
promoted traditional Chinese medicine (TCM) conducted covering over 40 kilometers and removing more than 400 The "Moutai 1935·Great Physicians of the Nation"
culture and provided academic support contribu- Public Welfare Project Donation Ceremony Site kilograms of waste. This has helped maintain the river basin's excellent
ting to the high-quality development and cultural water quality rate and the Company's wastewater compliance rate at
inheritance of traditional Chinese medicine. 100% with the air quality excellence rate reaching 98.08% and more than 300 mu(approximately 20 hectares) of afforestation completed.During the reporting period this project was awarded the Gold Prize in
the Fifth Guizhou Provincial Volunteer Service Project Competition.Case Advancing Shared Prosperity with Virtue - The "Prosperous Farmers Gold Award in the Fifth Guizhou Provincial
Thriving Villages" Public Welfare Initiative Volunteer Service Project Competition
In 2025 the Company in partnership with the Henan Provincial Distributors Association donated RMB 1 million to
the Moutai Foundation. The initiative focused on supporting 50 rural CEO trainees in designated partner counties
collaborating with China Agricultural University to provide talent training and industry support. The project enhances
capabilities in rural governance industrial planning and market operations promotes the scaling and industrialization
of agriculture and creates a "train one inspire many" ripple effect ultimately boosting farmer incomes and driving rural Case "Learning from Lei Feng · Virtuous Volunteer Service" economic development. Lei Feng Month Volunteer Service Series Activities
In March 2025 the Company launched a series of
volunteer service activities during Lei Feng Month.During the campaign it set up a "Lei Feng Market"
to provide convenient public-welfare services for
employees including garment mending computer
troubleshooting clinics and volunteer haircuts.At the same time through the "Lei Feng Mailbox"
the Company collected and fulfilled 100 small
wishes from special groups such as empty-nest
elderly residents and rural children in communities.Grassroots units also actively participated through
initiatives such as broadcasts from the "Cloud Lei
Feng Service Station" and campus outreach visits
helping normalize Lei Feng-themed volunteerism and Lei Feng Month Volunteer Service Series Activities Site
create a chain of kindness guided by the Company
Rural CEO Digital Operations Practical Training Site and driven by employees.
148 149Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Rural Revitalization
Case Company Assistance Helps Shape a New Rural Revitalization Landscape in Weining County
The Company complied with the Law of the People's Republic of China on the Promotion of Rural Revitalization and
formulated the 2025 Rural Revitalization Assistance Work Plan and the Paired Assistance Mechanism for Rural Revitalization Since launching its targeted assistance initiative in Weining County Bijie Guizhou Province in June 2025 the
further clarifying responsibilities refining work measures and advancing the orderly implementation of rural revitalization Moutai Support Task Force has conducted home visits to more than 2000 rural households. We have rigorously
assistance initiatives. implemented targeted policies including cattle breeding incentives and cross-provincial transportation subsidies
and have helped secure a total of over RMB 3 million in subsidy funds to date. These efforts have benefited more
than 1200 rural household instances and over 500 migrant workers. In addition we have established a direct sales
Key Rural Revitalization Initiatives in 2025 (Partially Listed) channel linking rural households with institutional buyers which has facilitated the sale of 66000 kilograms of
agricultural products such as walnuts generating RMB 326000 in sales revenue. Concurrently we have introduced
new vegetable varieties for experimental field cultivation launched the Light Up the Whole Village program by
Focusing on industrial development the Company leveraged its core business to drive the installing 310 solar street lamps donated teaching equipment to community schools and set up scholarship
Strengthen cultivation of Baijiu-brewing sorghum wheat and other crops. By issuing procurement plans programs. We have also advanced the rural "Toilet Revolution" and rural living environment improvement
Industrial and providing financial support it helped more than 120000 farming households increase initiatives working hand in hand to build a harmonious and beautiful countryside.Empowerment their income by approximately RMB 1.64 billion. It also organized village-based cadres to plan
and Activate
Development distinctive industries such as tartary buckwheat and vegetables with precision built the "Weining
Momentum Good Goods" brand and empowered collective economies in assisted areas through a "project
incubation + village-enterprise cooperation" model thereby strengthening their self-sustaining
development capacity.Expand
Consumption- The Company established a normalized consumption-based assistance mechanism tapped
Based Assistance internal demand and procured ingredients through a "farmer + supply base + canteen" model
and Unblock supporting employment for more than 2000 people. It also improved a diversified procurement
Circulation system and through trade union benefits and employee group purchases helped sell more than Assistance on Site
Channels RMB 860000 worth of agricultural products.Support Talent Case "Vision of Light · Walking with Wishes" Volunteer ServiceThe Company continued its education assistance efforts. Through the "China Moutai · Backbone
Development of the Nation" public welfare education assistance program its donations have benefited more
and Consolidate than 16000 students. It also organized village-based cadres to run tutoring classes for left- Relying on the Light of Hope Youth Volunteer Service Team the Company organized and carried out the "Vision of Light ·
the Foundations behind children covering more than 100 such children and deliver cultivation skills training Walking with Wishes" Growth Support Volunteer Service Activity. The initiative was carried out along two parallel of Revitalization thereby enhancing the capabilities of local talent. tracks: the "Small Wishes Come True Plan" and the "'Vision' Reading Program." On the one hand the Company worked
with schools to collect students' "small wishes" and provide targeted assistance. On the other hand the Company
organized quarterly online reading clubs between volunteers and supported students along with at least one in-
person shared reading session each year using reading companionship to broaden students' horizons. The program
developed into a replicable "micro-charity + education" volunteer service model transforming the volunteers' small
Advance Rural acts of kindness into a lasting force for student development and the transmission of social warmth.Development and The Company focused on improving infrastructure in assisted villages by donating solar
Build Harmonious streetlights to address nighttime lighting needs. It also improved teaching facilities advanced
and Beautiful the rural "toilet revolution" and living environment improvement and continuously optimized
Communities public services.Together
The Company focused on priorities including accountability implementation industrial development capacity- and
motivation-building support and consumption-based assistance. It advanced rural revitalization support in key areas such as
Weining County and Renhuai City continuously strengthened the effective linkage between consolidating poverty alleviation
achievements and advancing rural revitalization. The "Vision" Reading Club Goes to Schools
150 151Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Outlook In 2026 guided by the boldness to blaze new trails the courage to usher in a new era and the resolve to shoulder responsibilities we will stay confident Appendix
forge ahead with drive and strive tenaciously. We will advance reform head-on
against challenges remain committed to pursuing development and endeavor
to write a new chapter of high-quality growth for Moutai during the 15th Five-
Year Plan period. Moutai will make an even greater contribution to showcasing
the new vitality of Guizhou amid the advancement of Chinese modernization. Shanghai Stock Exchange Index
Dimension No. Issue Corresponding Clause Corresponding Chapter
1 Addressing Climate Change Articles 21 to 28 Climate Change Tackling
2 Pollutant Discharge Article 30 Green Environment Protection
3 Waste Disposal Article 31 Green Environment Protection
4 Ecosystem and Biodiversity Conservation Article 32 Green Environment Protection
Environment
5 Environmental Compliance Management Article 33 Green Environment Protection
6 Energy Utilization Article 35 Efficient Resource Utilization
7 Water Resources Utilization Article 36 Efficient Resource Utilization
8 Circular Economy Article 37 Efficient Resource Utilization
9 Rural Revitalization Article 39 Public Welfare and Rural Revitalization
10 Social Contribution Article 40 Public Welfare and Rural Revitalization
11 Innovation Driven Article 42 Technological Innovation
12 Science and Technology Ethics Article 43 Technological Innovation
13 Supply Chain Security Article 45 Sustainable Supply Chain
Social
14 Equal Treatment of SMEs Article 46 Sustainable Supply Chain
15 Safety and Quality on Products and Services Article 47 Product and Service Quality
16 Data Security and Customer Privacy Protection Article 48 Corporate Governance
Employee Management
17 Employee Article 50
Health and Safety
18 Due Diligence Article 52 Corporate Governance
19 Stakeholder Communication Article 53 Stakeholder Communication
Governance
20 Anti-Commercial Bribery and Anti-Corruption Article 55 Business Ethics
21 Anti-Unfair Competition Article 56 Business Ethics
152 153Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
GRI Index Disclosure Topic /
Disclosure Item Disclosure Title Secondary Heading
GRI 101: Biodiversity 2024
Statement of Use The Company has reported the information cited in this GRI content index with reference to the GRI Standards for the period from January 1 2025 to December 31 2025. 101-2 Management of biodiversity impacts Green Environment Protection
GRI 1 Used GRI 1: Foundation 2021 101-3 Biodiversity access and benefit-sharing Green Environment Protection
101-4 Identifying biodiversity impacts Green Environment Protection
101-5 Locations with biodiversity impacts Green Environment Protection
101-7 Changes in the state of biodiversity Green Environment Protection
Disclosure Topic /
Disclosure Item Disclosure Title Secondary Heading 101-8 Ecosystem services Green Environment Protection
GRI 2: General Disclosures 2021 GRI 201: Economic Performance 2016
2-1 Organizational details Company Overview 201-1 Direct economic value generated and distributed About Moutai
2-2 Entities included in the organization's sustainability reporting About This Report 201-2 Financial implications and other risks and opportunities due to climate change Climate Change Tackling
2-3 Reporting period frequency and contact point About This Report 201-3 Defined benefit plan obligations and other retirement plans Employee Management
2-4 Restatements of information ESG Data Table GRI 205: Anti-corruption 2016
2-5 External assurance Assurance Report 205-1 The operational sites that have undergone corruption risk assessment Business Ethics
2-6 Activities value chain and other business relationships About This Report 205-2 Communication and training about anti-corruption policies and procedures Business Ethics
2-7 Employees Employee Management 205-3 Confirmed incidents of corruption and actions taken Business Ethics
2-8 Workers who are not employees Sustainable Supply Chain GRI 206: Anti-competitive Behavior 2016
206-1 Legal actions for anti-competitive behavior anti-trust and monopoly practices Business Ethics
2-9 Governance structure and composition Corporate Governance
GRI 301: Materials 2016
2-10 Nomination and selection of the highest governance body Corporate Governance
301-1 Materials used by weight or volume Efficient Resource Utilization
2-11 Chair of the highest governance body Corporate Governance
301-3 Reclaimed products and their packaging materials Efficient Resource Utilization
2-12 Role of the highest governance body in overseeing the management of impacts Corporate Governance
GRI 302: Energy 2016
2-13 Delegation of responsibility for managing impacts Corporate Governance
302-1 Energy consumption within the organization Efficient Resource Utilization
2-14 Role of the highest governance body in sustainability reporting ESG Management System
302-2 Energy consumption outside the organization Efficient Resource Utilization
2-19 Remuneration policies Corporate Governance
302-3 Energy intensity Efficient Resource Utilization
2-22 Statement on sustainable development strategy ESG Management System
302-4 Reduction of energy consumption Efficient Resource Utilization
2-27 Compliance with laws and regulations ESG Policies and Regulations
302-5 Reductions in energy requirements of products and services Efficient Resource Utilization
2-29 Approach to stakeholder engagement Stakeholder Engagement GRI 303: Water and Effluents 2018
2-30 Collective bargaining agreements Employee Management 303-1 Interactions with water as a shared resource Efficient Resource Utilization
GRI 3: Material Topics 2021 303-2 Management of water discharge-related impacts Efficient Resource Utilization
3-1 Process to determine material topics Double Materiality Analysis 303-3 Water withdrawal Efficient Resource Utilization
3-2 List of material topics Double Materiality Analysis 303-4 Water discharge Efficient Resource Utilization
3-3 Management of material topics Double Materiality Analysis 303-5 Water consumption Efficient Resource Utilization
154 155Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Disclosure Topic / Disclosure Title Secondary Heading Disclosure Topic / Disclosure Item Disclosure Item Disclosure Title Secondary Heading
GRI 305: Emissions 2016 403-9 Work-related injuries Health and Safety
305-1 Direct (Scope 1) GHG emissions Green Environment Protection 403-10 Work-related ill health Health and Safety
305-2 Energy indirect (Scope 2) GHG emissions Efficient Resource Utilization GRI 404: Training and Education 2016
404-1 Average hours of training per year per employee Employee Management
305-4 GHG emissions intensity Efficient Resource Utilization
404-2 Programs for upgrading employee skills and transition assistance programs Employee Management
305-5 Reduction of GHG emissions Efficient Resource Utilization
404-3 Percentage of employees receiving regular performance and career Employee Management
305-7 Nitrogen oxides (NOX) sulfur oxides (SOX) and other significant air emissions Efficient Resource Utilization development reviews
GRI 306: Waste 2020 GRI 405: Diversity and Equal Opportunity 2016
306-1 Waste generation and significant waste-related impacts Green Environment Protection Corporate Governance405-1 Diversity of governance bodies and employees
Employee Management
306-2 Management of significant waste-related impacts Green Environment Protection
GRI 406: Non-discrimination 2016
306-3 Waste generated Green Environment Protection
406-1 Incidents of discrimination and corrective actions taken Employee Management
306-4 Waste diverted from disposal Green Environment Protection GRI 407: Freedom of Association and Collective Bargaining 2016
306-5 Waste directed to disposal Green Environment Protection
407-1 Operations and suppliers at significant risk for incidents related to freedom of
Employee Management
association and collective bargaining
GRI 308: Supplier Environmental Assessment 2016 Sustainable Supply Chain
GRI 408: Child Labor 2016
308-2 Negative environmental impacts in the supply chain and actions taken Sustainable Supply Chain
408-1 Operations and suppliers at significant risk for incidents of child labor Employee Management
GRI 401: Employment 2016
GRI 409: Forced or Compulsory Labor 2016
401-1 New employee hires and employee turnover Employee Management
409-1 Operations and suppliers at significant risk for incidents of forced or Employee Management
401-2 Benefits provided to full-time employees exclusively Employee Management compulsory labor
401-3 Parental leave Employee Management GRI 413: Local Communities 2016
413-1 Operations with local community engagement impact assessments and Public Welfare and Rural GRI 403: Occupational Health and Safety 2018 development programs Revitalization
403-1 Occupational health and safety management system Health and Safety GRI 414: Supplier Social Assessment 2016
403-2 Hazard identification risk assessment and incident investigation Health and Safety 414-2 Negative social impacts in the supply chain and actions taken Sustainable Supply Chain
403-3 Occupational health services Health and Safety GRI 416: Customer Health and Safety 2016
Worker participation consultation and communication on occupational health 416-1 Assessment of the health and safety impacts of product and service categories Product and Service Quality403-4 and safety Health and Safety
GRI 417: Marketing and Labeling 2016
403-5 Worker training on occupational health and safety Health and Safety 417-1 Requirements for product and service information and labeling Product and Service Quality
403-6 Promotion of worker health Health and Safety GRI 418: Customer Privacy 2016
403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships Health and Safety 418-1
Substantiated complaints concerning breaches of customer privacy and losses
of customer data Corporate Governance
156 157Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
ESG Policies and Regulations Section Laws and Regulations Internal Policies and Systems
Kweichow Moutai Co. Ltd. Supplier Code of Conduct
Administrative Measures for Procurement
Section Laws and Regulations Internal Policies and Systems Administrative Measures for Supplier Management
Provisions on the Management of Suppliers of Packaging and Storage
Mutual Success: Enabling Modern Governance within the Organization Materials
Articles of Association Sustainable Green Evaluation Standard for Packaging Material Suppliers for Moutai Baijiu
Company Law of the People's Republic of /
China Rules of Procedure for Shareholders' Meeting
Supply Chain Guidelines for ESG Management Assessment Rules for Moutai Baijiu
Securities Law of the People's Republic of Rules of Procedure for the Board of Directors
Packaging Material Suppliers
China Measures for Performance Assessment of Members of the Management
ESG Assessment Rules for Organic Raw Material Suppliers
Code of Corporate Governance for Listed Measures for Remuneration Management of Members of the Management
Advance Checklist for Assessing Integrity Risks in the Procurement Field
Measures for Risk Management Checklist for Assessing and Preventing Corruption Risks in the Materials Companies
Guidelines of the Shanghai Stock Special Action Plan for Enhancing Risk Management (2024-2026)
Supply Field
Corporate Exchange on the Self-Regulation of Listed Detailed Rules for Risk Management Operations Symbiotic Coexistence: Coexisting Harmoniously with Nature
Governance Companies No. 5-Transactions and Related Compliance Management Measures
Transactions Internal Control Management Measures
Cybersecurity Law of the People's Republic Decision-making Policy for Related Transactions
of China Network and Information Security Management Measures Gas Emissions for Food Tobacco Alcohol
Data Security Law of the People's Republic Provisions on Data Security and Personal Information Protection Beverage and Refined Tea Enterprises
of China (Trial)Provisions on Cybersecurity Emergency Management
Personal Information Protection Law of the GHG Protocol: Corporate Accounting and
People's Republic of China Cybersecurity Emergency Response Drill Plan Reporting Standard
Kweichow Moutai Co. Ltd. Data and Privacy Policy GB/T 24067-2024 Greenhouse gases
Climate - Carbon footprint of products -
Kweichow Moutai Co. Ltd. Business Ethics Policy Change Requirements and guidelines for Kweichow Moutai Carbon Peak and Carbon Neutrality Action Plan
Several Measures of the Party Committee of the Company for Further Tackling quantification
Strengthening Oversight for Leadership Teams and Their Heads ISO 14067:2018 Greenhouse gases - Carbon
Negative List of Employees' Acts footprint of products - Requirements and
Measures for Handling Violations of Rules Disciplines and Laws by guidelines for quantification
Employees PAS 2050:2011 Specification for the
Company Law of the People's Republic of Management Measures on Prohibiting Employees from Gaining Improper assessment of the life cycle greenhouse
China Benefits through Moutai Baijiu gas emissions of goods and services
Anti-Unfair Competition Law of the Prohibitive Provisions for Integrity in Construction of Engineering
People's Republic of China Projects
Prohibitive Provisions for Procurement Integrity
Business Anti-Monopoly Law of the People's Guizhou Wheat (Organic) Supplier Admission Standard
Ethics Republic of China
Prohibitive Provisions for Integrity in Resources Supply Green Evaluation Indicator System for Organic Raw Material Suppliers
Regulations on Handling Letters and Visits Prohibitive Provisions for Integrity in Marketing Personnel Green Evaluation Indicator System for the Organic Raw Material Supply Chain
Rules for Disciplinary Inspection and Provisions for the Registration and Filing of Construction of Engineering Energy Law of the People's Republic of Green Development Plan for the Packaging Material Supply Chain for
Supervision Projects and Investment of Fixed Assets China Moutai Baijiu
Organs on Handling Reports and Anti-Monopoly Compliance Guide Law of the People's Republic of China on Three-Year Action Plan for Green Development of the Packaging Material
Complaints Anti-Unfair Competition Compliance Guide Energy Conservation Supply Chain for Moutai Baijiu
Work Safety Compliance Guide Energy Management Systems- Development Plan for Lightweight and Green Packaging of Kweichow
Ecology and Environmental Protection Compliance Guidelines Requirements with Guidance for Use Moutai Co. Ltd.Regulations on Supplier Management for Packaging and Storage Materials General Principles for Energy Audit Provisions on New Product Development Management
Regulations on Supplier Management for Organic Raw Materials Efficient Resource Technology Technical Blacklist for Packaging Materials (Environmental Category)
Kweichow Moutai Co. Ltd. Supplier Code of Conduct Utilization General Rules for Calculation of List of Prohibited and Restricted Packaging Materials
Regulations on Handling Letters and Visits Management Comprehensive Energy Consumption Negative List for Packaging Materials in New Product Development
Water Pollution Prevention and Control
Law of the People's Republic of China Energy Management Measures
Provisions on Energy Operations Management
Law of the People's Republic of China on Water Law of the People's Republic of
Progress of Science and Technology Administrative Provisions on the Statistical Management of R&D China Provisions on Energy Data ManagementInvestment
Technological Regulations of Guizhou Province on Regulations on the Protection of the Top-Level Design Plan for Improving Water Resource Utilization Efficiency
Innovation Progress of Science and Technology Administrative Measures for Project Management Chishui River Basin Detailed Rules for Water Use Management
Measures for the Review of Science and Administrative Provisions on Science and Technology R&D Project Water Use Improvement Action Plan (2024–2026)
Technology Ethics (Trial) Management 2026 Action Plan for Improving Water Use Management
Implementation Measures for Supplier Sustainable Development
158 159Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Section Laws and Regulations Internal Policies and Systems Section Laws and Regulations Internal Policies and Systems
Environmental Protection Law of the Labor Law of the People's Republic of
People's Republic of China China
Emergency Response Law of the People's Labor Contract Law of the People's
Republic of China Republic of China Employee Recruitment Management Measures
Air Pollution Prevention and Control Law Ecology and Environmental Protection Compliance Guidelines Provisions on the Prohibition of Child Annual Work Objectives Management Provisions
Green of the People's Republic of China Administrative Measures for Ecological and Environmental Protection Labor
Emergency Response Plan for Environmental Incidents Kweichow Moutai Co. Ltd. Employee Rights Protection PolicyEnvironment Water Pollution Prevention and Control
Protection Law of the People's Republic of China Detailed Rules for Wastewater Management Employee
Trade Union Law of the People's Republic
of China Position Grade Management MeasuresManagement
Solid Waste Pollution Prevention and Detailed Rules for Solid Waste Management Law of the People's Republic of China on Measures for the Evaluation and Appointment of Professional and
Control Law of the People's Republic of the Protection of Women's Rights and Technical Titles
China Interests Measures for the Assessment and Appointment of Vocational Skill Levels
Kunming-Montreal Global Biodiversity Special Provisions on Labor Protection for Leave and Attendance Management Measures
Framework Female Employees
Special Provisions of Guizhou Province on
Labor Protection for Female Employees
Sharing Benefits: Sharing Value with Society
Quality Risk List Law of the People's Republic of China on Kweichow Moutai Co. Ltd. Occupational Health and Safety Policy
Food Safety Risk Control List the Prevention and Control of Occupational Rules of Procedure for the Work Safety and Fire Protection Committee
2025 List of Applicable Laws Regulations and Other Requirements for Health and Safety Diseases Provisions on Oversight of Work Safety Management
Quality Food Safety and Hygiene Work Safety Law of the People's Republic Detailed Rules for Safety Organization Management
Provisions on Product Packaging Quality Control Management of China Provisions on Occupational Health Management
Provisions on Quality Incident Management
2025 Food Defense Checklist
Moutai Baijiu Full Value Chain Inspection and Testing Capability Public Welfare
Enhancement Plan Law of the People's Republic of China on 2025 Rural Revitalization Assistance Work Planand Rural the Promotion of Rural Revitalization
Advertising Placement Management Measures Revitalization Paired Assistance Mechanism for Rural Revitalization
News Publicity Management Measures
Responsible Marketing Management Provisions of Kweichow Moutai
Baijiu Sales Co. Ltd.Food Safety Law of the People's Republic Marketing Planning Measures of Kweichow Moutai Jiang-flavor Baijiu
of China Marketing Co. Ltd.Product and Advertising Law of the People's Republic of Measures for Market Promotion and Publicity in the Moutai Baijiu
Service Quality China Distribution System
Law of the People's Republic of China on Kweichow Moutai Co. Ltd. Responsible Marketing Policy
the Protection of Consumer Rights and Detailed Rules for Advertising Review
Interests 2025 Special Training Plan on Advertising and Publicity Risk Compliance
Advertising and Publicity Management Measures of Guizhou Laymau
Baijiu Co. Ltd.Terminal Image Construction Management Measures of Guizhou Laymau
Baijiu Co. Ltd. (2023 revised edition)
Measures for Channel Partner Management of Kweichow Moutai Baijiu
Sales Co. Ltd.Measures for Distributor Management of Guizhou Laymau Baijiu Co. Ltd.Product Replacement and Rework Management Provisions of Kweichow
Moutai Baijiu Sales Co. Ltd.Detailed Rules for Customer Follow-up Management of Kweichow Moutai
Baijiu Sales Co. Ltd.Detailed Rules for Distributor Classification Service of Kweichow Moutai
Jiang-flavor Baijiu Marketing Co. Ltd.
160 161Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
ESG Data Table
Environmental Dimension
Metric Unit 2023 2024 2025 Metric Unit 2023 2024 2025
Direct greenhouse gas emissions (Scope 1) tonnes of CO2e 244895 287811 270273 Total water resource
consumption 10000 m3 867.66 813.89 744.24
Indirect greenhouse gas emissions (Scope 2) tonnes of CO2e 9883 2536 1747
Water Resource Water resource consumption 10000 m3 / RMB million 0.0098 0.0082 0.0070
Total greenhouse gas emissions (Scopes 1 and 2) tonnes of CO2e 254778 290347 272020 Consumption intensity of industrial output value
Greenhouse gas emissions intensity tCO e / RMB million of Freshwater consumption in 2
(Scope 1 and Scope 2) industrial output value 2.95 2.91 2.57 water-scarce areas
41 10000 m3 0.00 0.00 0.00
Natural gas consumption 10000 m3 10557.09 12687.18 13683.01 Glass bottles tonnes 71117.67 81820.23 90203.52
Color boxes tonnes 35697.68 40391.32 48010.51
Gasoline consumption tonnes 355.98 399.41 302.90
Ribbons tonnes 76.61 80.91 88.91
Diesel consumption tonnes 750.11 849.92 885.14
Metal caps tonnes 799.06 1070.33 1145.69
Purchased electricity MWh 108694.41 124472.10 135356.34 Packaging
Materials Used Plastic caps tonnes 2886.48 3336.16 4118.10
Purchased heat GJ 1746.12 4375.02 697.65
Ceramic bottles tonnes 11429.43 11676.25 12107.69
Non-renewable energy Cartons tonnes 12156.04 13511.21 15931.79
Energy consumption
tonnes of standard coal 144174 171186 184371
Consumption Carrier bags tonnes 9285.11 9526.98 9527.43 Renewable energy
consumption tonnes of standard coal 11270 14827 16241 Total tonnes 143448.07 161413.39 181133.64
Direct energy consumption tonnes of standard coal 142026 170566 183953 Wastewater Discharge 10000 tonnes 215.17 218.92 261.34
Wastewater
Indirect energy consumption tonnes of standard coal 13418 15447 16659 Discharge Wastewater discharge
10000 tonnes / RMB
intensity million of industrial 0.0025 0.0022 0.0025
Total energy consumption tonnes of standard coal 155444 186013 200612 output value
tonnes of standard coal / Solid waste tonnes / 517347.48 507479.66
Energy consumption intensity RMB million of industrial 1.80 1.86 1.90 Hazardous waste42 tonnes / 442.53 635.25
output value
Total waste tonnes 467701.42 518043.71 508114.91
Reclaimed water reuse volume tonnes 19.70 24.24 6.50 Waste Generation
40 Waste intensity
tonnes / RMB 100 million
Reclaimed water reuse ratio % 8.39 9.97 2.43 of industrial output value
543.41520.61480.12
Freshwater withdrawal 10000 m3 658.50 635.11 627.82 Resource utilization rate of
production waste % 100 100 100
Freshwater withdrawal 10000 m3 / RMB million
intensity of industrial output value 0.0079 0.0064 0.0059 Total recycled / reused tonnes 436853.70 465947.37 478797.22Water Resource
Consumption Landfilled tonnes / 5419.5 2260.05Total water withdrawal 10000 m3 658.50 635.11 627.82 Waste Disposal /
Recovery Volume Total waste incinerated with
Water recycling rate % 87.07 85.45 91.73 energy recovery tonnes 30847.72 26699.21 26422.39
Freshwater consumption 10000 m3 847.96 789.65 737.74 Resource-treated food waste43 tonnes 774.73 849.73 976.88
Freshwater consumption 10000 m3 / RMB million
intensity of industrial output value 0.0098 0.0079 0.0070
41 Areas with water availability below 1700 m3 per person per year.
42 Due to the increase in experimental projects for the 2025 feasibility study the amount of hazardous waste has also increased.
40 Water recycled / (water recycled + wastewater discharged) × 100%. Historical data has been retrospectively adjusted. 43 All food waste is used for industrial oil refining achieving 100% resource recovery.
162 163Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Social Dimension
Metric Unit 2023 2024 2025 Metric Unit 2023 2024 2025
Total employees persons 33302 34750 34992 Collective contract signing rate % 100 100 100
Employee
Female employees persons 10945 11221 11237 Rights Number of incidents violating employees' lawful
rights and interests cases 0 0 0
Male employees persons 22357 23529 23755
Health and Number of employee work-related fatalities persons / 0 0Employees aged 30 and below persons / 11030 9204 Safety Employee LTIFR per million hours worked / / 2.05 1.45
Employees aged 31 and above persons / 23720 25788
R&D investment RMB million 622 695 803
Total employee turnover rate % 0.23 0.34 0.42
Technological Patent applications pieces 107 83 107Turnover rate of employees aged 30 and below % / 0.69 0.58 Innovation Patents granted pieces 69 49 60
Turnover rate of employees aged 31 and above % / 0.18 0.36
Valid patents pieces 287 329 388
Total new hires persons 2273 1839 697
Total number of Tier-1 suppliers - 432 701 808
Employment New male hires persons / 1334 448
Total number of critical suppliers - 65 96 145
New female hires persons / 505 249 Sustainable
Supply Chain Total number of significant suppliers - 302 543 473New hires aged 30 and below persons / 1582 450
Total number of ordinary suppliers - 65 62 190
New hires aged 31 and above persons / 257 247
Percentage of total spend on critical suppliers % 29.15 19.81 36.53
Employees selected internally persons / / 319
Data Security Data security incidents cases 0 0 0
Male employees selected internally persons / / 220 and User
Privacy
Female employees selected internally persons / / 99 Protection User privacy breach incidents cases 0 0 0
Internally selected employees aged 30 and below persons / / 183 Customer
Relationships Revenues generated from the online sales platform RMB billion / / 13.437
Internally selected employees aged 31 and above persons / / 136
Public Total investment in social welfare RMB million / / 121
Average recruitment cost Yuan/person 5280 7240 2706 Welfare
and Rural
Female share across all management levels % / / 24.06 Revitalization Total investment in rural revitalization initiatives RMB million / / 2.7681
Female share in senior management % 28.17 25.00 22.81
Female
Employee Female share in junior management % 23.52 24.29 24.13
Ratio
Female share in revenue-generating functions % 33.67 34.52 34.24
Female share in STEM-related positions % 16.89 17.47 16.57
Han share in management % / 94.28 93.85
Ethnic Ethnic minority share in management % / 5.72 6.15
minority
Ratio Han share among general employees % / 95.70 95.69
Ethnic minority share among general employees % / 4.30 4.31
164 165Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
Governance Dimension Assurance Statement
Metric Unit 2023 2024 2025
Number of directors persons 7 7 7
Number of independent directors persons 3 3 3
Board
Composition Number of female directors persons 2 2 3
Number of employee directors persons 1 1 1
Percentage of independent directors % 42.86 42.86 42.86
Board meetings times 13 13 16
Board
Effectiveness Director attendance rate % 100 100 100
Average director tenure years 1.2 1.5 1.85
Compliance
Management Number of compliance management training sessions sessions 49 45 26Training
Risk Management Number of risk management training
Training sessions sessions 2 2 30
Number of integrity risk points items 346 217 207
Integrity Risk
Control
Number of preventive measures items 639 441 421
Number of employee integrity training
sessions sessions 52 64 1048
Number of employees receiving integrity
training persons 33302 34750 34992
Integrity Training Employee integrity training coverage rate % 100 100 100
Number of managers receiving integrity
training persons 627 648 1075
Management integrity training coverage
rate % 100 100 100
Unfair Number of complaints and reports
Competition related to unfair competition cases 0 0 0
166 167Mutual Success Symbiotic Coexistence Sharing Benefits
Environmental Social and About the Message from About Kweichow Sustainable Enabling Modern Governance Coexisting Harmoniously Sharing Value with
Governance Report 2025 Report the Chairman Moutai Development Outlook Appendixwithin the Organization with Nature Society
168 169Environmental Social and About the Message from About Kweichow Sustainable
Governance Report 2025 Report the Chairman Moutai Development
Feedback
Dear readers
Hello!
Thank you very much for reading the Kweichow Moutai 2025 Environmental Social and Governance (ESG) Report during your
busy schedule. Your comments and suggestions on this report are highly appreciated for us to improve the quality and level of
the report and our social responsibility and ESG efforts!
Tel.: 0851-22386480
E-mail: mtshzr@moutai.com.cn
Address: Corporate Culture Department of Kweichow Moutai (Integrated Media Center)
Maotai Town Renhuai City Guizhou Province
Post code: 564501
Your information
Name: ?????????????????Tel:????????????????
Employer:????????????????E-mail:??????????????
Your overall rating of this report is:
□ Excellent?????□ Good??????□ Fair
How well do you think this report reflects the Company's significant economic social and environmental impact:
□ Well??????? □ Moderately ?? □ Not sure
How clear accurate and complete do you think the information data and indicators disclosed in this report are:
□ Very good???□ Good???□ Fair???□ Poor???□ Very poor
Which aspect of this report are you most satisfied with
What information would you like to know more about
What are your suggestions for our future reports
170Kweichow Moutai Co. Ltd.
https://www.moutaichina.com/
沪公网安备31011802005267号
