On the evening of October 25, Guizhou Maotai disclosed the third quarter report of 2020. In the first three quarters of this year, Guizhou Maotai achieved an operating revenue of about 67.215 billion yuan, a year-on-year increase of 10.31%; and the net profit attributable to the parent company was about 33.827 billion yuan, with a year-on-year increase of 11.07%. In terms of revenue growth and net profit growth, the main indicators of Guizhou Maotai still maintain double-digit growth, which also exceeds the double-digit growth target proposed in the 2019 annual report of Guizhou Maotai. According to the plan, Guizhou Maotai’s revenue growth target is 10% in 2020. However, from the perspective of single quarter, the growth rate of Maotai in Guizhou in the second quarter and the third quarter did not reach double digits, and the single quarter growth rate further slowed down. Data shows that in the second quarter, Guizhou Maotai’s revenue and net profit were 19.547 billion yuan and 9.508 billion yuan respectively, with year-on-year growth rates of 9.5% and 8.9%, significantly lower than the double-digit growth rate in the first quarter. In the first quarter of this year, Guizhou Maotai achieved a revenue of 24.405 billion yuan, a year-on-year increase of 12.76%, and a net profit of 13.094 billion yuan, a year-on-year increase of 16.69%. < p > < p > in the third quarter, the growth rate of Maotai’s single quarter performance further declined. Data shows that in the third quarter, Guizhou Maotai achieved a total revenue of 23.262 billion yuan, a year-on-year increase of 8.5%; the net profit attributable to the parent company was 11.225 billion yuan, with a year-on-year growth of 6.87%. If we continue to develop in accordance with such a trend, whether Guizhou Maotai can achieve the double-digit growth target proposed at the beginning of this year will leave a big doubt. According to the list of shareholders in the third quarter report, Guizhou state owned Capital Operation Co., Ltd., as the third largest shareholder, reduced its holding of 16.7526 million shares in the third quarter, and the shareholding ratio dropped sharply from 4% at the end of the second quarter to 2.67%. Guizhou Financial Holding Co., Ltd., which was originally the 10th largest shareholder in the first half of this year, dropped out of the list of the top ten circulating shares. In the first half of this year, the number of shares held was 3.4872 million, accounting for 0.28%. However, it is difficult to determine whether it will reduce its holdings. The industrial and Commercial Bank of China (ICBC) – Shanghai Stock Exchange 50 open-ended index securities investment fund, which held 3.624 million shares of Guizhou Maotai at the end of the third quarter, with a shareholding ratio of 0.29%. At the same time, northbound funds, the second largest shareholder in the list, also chose to reduce their positions significantly. In the third quarter, the shareholding ratio of Hong Kong Central Clearing Co., Ltd. decreased to 8.01% from 8.45% in the first half of the year, reducing its holding of 5.513 million shares, in sharp contrast to the increase of 5.426 million shares in the second quarter. < p > < p > at the same time of reducing the state-owned assets in Guizhou Province, Guizhou Maotai Group is vigorously “blood transfusion” for the construction of Guizhou Province. In March this year, after Gao Weidong, former director of Guizhou Provincial Department of transportation, took over the post, Guizhou Maotai’s investment in infrastructure construction increased significantly. Guizhou Maotai announced that the company will donate no more than 546 million yuan to Xishui county government for the construction of Xixin Avenue construction project in Xishui County. < p > < p > according to the data of the third quarter report, Guizhou Maotai has also increased its efforts to extend loans to group members, with the increase of loans and advances of up to 5920%. Of course, the construction of Maotai in Guizhou is speeding up. According to the third quarter report of Guizhou Maotai, the company’s “13th five year plan” Maotai liquor technical transformation project and its supporting facilities project and the construction speed of 30000 tons Maotai flavor series liquor technical transformation and supporting facilities project are accelerating, and the company’s construction in progress funds increased by 45.29%. < p > < p > the financial report also showed that Guizhou Maotai continued to significantly reduce the number of dealers, and the data at the end of the third quarter decreased by 342 compared with the beginning of the year. In this regard, Guizhou Maotai explained that it is to further optimize the marketing network layout and enhance the overall strength of dealers. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. 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