BUSINESS China's top liquor brand reports strong growth in first three quarters

BUSINESS

China's top liquor brand reports strong growth in first three quarters

Xinhua

18:12, October 26, 2020

In this undated photo, workers attach red Moutai ribbons to liquor products on the production line of a Kweichow Moutai factory in Renhuai, Guizhou province. (File photo: China Daily)

GUIYANG, Oct. 26 (Xinhua) -- China's top alcohol brand Kweichow Moutai saw its sales revenue increase by 10.31 percent year on year in the first three quarters of this year, according to the company on Monday.

Its sales revenue during the period reached more than 67.2 billion yuan (about 10.05 billion U.S. dollars), with the net profit exceeding 33.8 billion yuan, up 11.07 percent year on year.

Compared with the previous two quarters, the liquor brand's growth rate of sales revenue and net profit slowed down in the third quarter. Its sales revenue rose 7.18 percent year on year to 23.9 billion yuan, while the net profit grew 6.87 percent to over 11.2 billion yuan.

Distilled in the town of Maotai in southwest China's Guizhou Province, Moutai is one of the country's leading liquor brands and often served at state banquets.

Despite its high price, domestic demand for Moutai has always exceeded supply.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue