Tencent, the Chinese tech and gaming colossus that you’ll know for owning a slice of seemingly everything (opens in new tab) in the games industry, is no longer China’s most valuable company. Bloomberg reports (opens in new tab) that Tencent’s stock price has hit a five-year low, and its overall market capitalisation was overtaken late last month by—of all things—Kweichow Moutai, a Guizhou-based firm specialising in the production of Maotai rice wine. At time of writing, Kweichow Moutai had a $235 million lead over Tencent’s market cap.
