LEADING domestic liquor maker Kweichow Moutai Co. earned US$430 million from exports in 2018, up 28.6 percent year on year, the company said Saturday.

Moutai, a distiller from Maotai Town in southwestern China’s Guizhou Province, reported a business revenue of around 75 billion yuan for 2018, up about 23 percent year on year.

The company’s net profit attributable to its equity holders exceeded its annual growth plan to rise 25 percent year on year to 34 billion yuan, Moutai said in a financial report filed with the Shanghai Stock Exchange on Tuesday last week. The firm is looking forward to a 14 percent increase in net profit in 2019.

Currently, Kweichow Moutai has 115 overseas dealers in 68 countries and regions.

In 2018, the firm produced 49,700 metric tons of Moutai liquor and 20,500 tons of Moutai series wine. In 2017, it produced 42,700 tons of Moutai liquor.

Kweichow Moutai will maintain its quality, work on both the domestic and overseas markets and develop brand marketing, aiming to earn a revenue of more than 100 billion yuan in 2019, said Li Baofang, chairman of Moutai Group.

“We will continue to expand the capacity of Moutai liquor and series wines, raise the proportion of direct sales, and upgrade our product structures. The company will endeavor to maintain the prices at a stable level,” Li said.

Moutai is a sorghum-based spirit and is China’s top brand of baijiu (white alcohol). The liquor, which is 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.

(SD-Xinhua)