Kweichou Maotai Co., Ltd, a Shanghai-listed top luxury liquor producer, will invest RMB 450 million ($64.9 million) into a newly established group company of Guizhou-Cloud Big Data (GCBD), the data management firm which is handling iCloud data for mainland Chinese Apple accounts.

According to industrial due diligence information (in Chinese), the group company was established on October 19, around 8 months after GCBD took over iCloud operations on February 28. The State-owned Assets Supervision and Administration Commission of Guizhou Province is the biggest stakeholder with 38.24% total shares worth RMB 600 million. Kweichou Maotai, with 26.47% total shares, ranks second among the total 5 stakeholders.

The shareholders’ promised investment, according to the group company’s registration record, needs to be in place by May 30, 2019.

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com