Moutai posts 17% jump in 2010 net profit
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Photo taken on Feb. 25, 2011 shows bottles of vintage Maotai distilled in the 1980s at an auction preview in Shanghai, east China, Feb. 25, 2011. A total of 110 bottles of vintage Maotai distilled decades before will be auctioned in Shanghai on Feb. 27, 2011. [Xinhua] |
![Photo taken on Feb. 25, 2011 shows bottles of vintage Maotai distilled in the 1980s at an auction preview in Shanghai, east China, Feb. 25, 2011. A total of 110 bottles of vintage Maotai distilled decades before will be auctioned in Shanghai on Feb. 27, 2011. [Xinhua]](http://images.china.cn/attachement/jpg/site1007/20110321/0011111fa1560ef1597512.jpg "Photo taken on Feb. 25, 2011 shows bottles of vintage Maotai distilled in the 1980s at an auction preview in Shanghai, east China, Feb. 25, 2011. A total of 110 bottles of vintage Maotai distilled decades before will be auctioned in Shanghai on Feb. 27, 2011. [Xinhua]")
Kweichow Moutai Co., Ltd., China's largest liquor maker by market value, on Sunday reported a 17.13-percent profit increase in 2010 from the previous year on the heels of rising prices and booming demand.
The Guizhou-based company achieved a net profit of 5.05 billion yuan last year. Its earnings per share were 5.35 yuan, the highest among mainland listed companies.
Last year, Kweichow Moutai produced a total of 32,600 tons of liquor under the various Moutai brands, rising 11.42 percent year to year, bringing sales revenue to 11.63 billion yuan, up 20.3 percent from the previous year.
According to Kweichow Moutai, high-end liquor consumption has become a new trend in China. Last year, prices of high-end liquor products- such as Moutai and Wuliangye- skyrocketed. However, Moutai Group chairman Ji Keliang said prices of Moutai liquor have not yet peaked.
Kweichow Moutai plans to raise its capacity to 40,000 tons of Moutai liquor by 2015 and its sales revenue to 26 billion.
China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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