Net profit of Moutai surges 30 pct in 2018
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E-mail Xinhua, March 29, 2019
China's leading liquor maker Kweichow Moutai said Thursday that its net profit saw a 30-percent rise in 2018.
The company's net profit attributable to its equity holders reached 35.2 billion yuan (about 5.2 billion U.S. dollars) last year, thanks to supply-side improvements, according to its financial report filed to the Shanghai Stock Exchange.
Over the same period, the Guizhou-based company saw its revenue grow 26.49 percent year on year to 73.6 billion yuan. Its output reached 70,200 tonnes, an annual growth of 10.08 percent.
Moutai is a sorghum-based spirit produced by Kweichow Moutai and is China's top brand of baijiu (white alcohol). The liquor, often served on official occasions and at state banquets, is considered a luxury item and has long been a popular gift.
Despite its high price, domestic demand for Moutai has always exceeded supply.
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