9月12日，贵州茅台召开了2025年半年度业绩说明会，对于2025年H1经营现金流同比2024年下降200多亿的原因，贵州茅台董事、代行总经理职责王莉回答称：上半年经营活动产生的现金流量净额131.19亿元，同比减少235.03亿元，下降64.18%。主要是财务公司吸收集团公司成员单位存款同比减少、不可提前支取的定期存款净增加额同比增加，剔除财务公司数据后，本期酒类经营活动产生的现金流量净额同比增加。

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