# Pianzaihuang

After a 67% Crash, China’s ‘Medicine Maotai’ Gets a Vote of Confidence — But Is It Enough?

Pianzaihuang’s controlling shareholder will buy CNY 300–500m of A‑shares after the stock plunged 67% from its 2021 high. The company is reporting its first sustained revenue and profit declines in years, with cash flow collapsing and inventories ballooning, signaling a structural slowdown in the appetite for its premium products.