BUSINESS China's top liquor brand Moutai expected to hit 97.7 billion yuan revenue in 2020

BUSINESS

China's top liquor brand Moutai expected to hit 97.7 billion yuan revenue in 2020

Xinhua

16:38, January 01, 2021

Workers mix grains with yeast at a distillery in Maotai town of Renhuai, southwest China's Guizhou Province, Nov. 28, 2020. (Photo: Xinhua)

China's leading liquor maker Kweichow Moutai said Friday in a statement its revenue was expected to reach 97.7 billion yuan (about US$14.98 billion) in 2020, up 10% year on year.

It is estimated that the company's net profit attributed to listed company shareholders rises 10% year on year to 45.5 billion yuan in 2020.

The company produced more than 50,000 tonnes of liquor and the market value of its stock hit a new high of 2 trillion yuan in 2020, said Gao Weidong, chairman of the board.

As a sorghum-based spirit, the Moutai liquor is considered a luxury item in China.

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