DOMESTIC liquor maker Kweichow Moutai Co., which lists shares on the Shanghai Stock Exchange, said Tuesday that it expected its net profit to rise 25 percent in 2018.

The firm’s net profit attributable to its equity holders was expected to reach 34 billion yuan (US$4.9 billion) last year, according to its financial report filed to the Shanghai Stock Exchange.

Over the same period, Moutai’s revenue was around 75 billion yuan in 2018, up about 23 percent year on year, and the firm is looking forward to a 14 percent increase in 2019.

The Guizhou-based company said earlier it plans to sell about 31,000 tons of product this year, up by 3,000 tons from last year.

“The sales volume in 2019 will increase by 3,000 tons more than in 2018,” said Li Baofang, chairman of Moutai Group.

A total of 17,000 tons of liquor will be supplied to distributors and the rest will be sold through e-commerce retail channels, according to Li.

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. (Xinhua)