The parent company of Chinese winemaker Wuliangye Yibin is not looking to sell part of its stake, Wuliangye has said.

The Sichuan-based wine company was responding to local reports that Yibin State Assets Operation Co. was in talks with Morgan Stanley to sell part of its 71.83% stake in Wuliangye.

In a statement to the Shenzhen Stock Exchange,Wuliangye said its owner had not been in contact with Morgan Stanley for talks on any stake sale.