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Kweichow Moutai Group Co Ltd, based in Renhuai, Guizhou province, reported steady sales in the first six months of 2014 on Thursday. Provided to China Daily |
Kweichow Moutai Group Co Ltd, based in Renhuai, Guizhou province, reported steady sales in the first six months of 2014 on Thursday, indicating a stable performance amid the government's campaign against corruption and extravagance.
Moutai, the only publicly listed distiller in China, showed first-half revenue up 1.37 percent to 14.32 billion yuan ($2.33 billion), while net profit slid 0.25 percent to 7.23 billion yuan and deferred revenue sank 82.43 percent to 544 million yuan, compared with the same period a year ago.
Moutai said the baijiu liquor industry is still undergoing adjustment in the face of the world's sluggish economic recovery and downturn in the domestic economy.
Establishing an e-commerce platform, the Moutai E-commerce Co, has been part of its efforts to expand marketing channels, and improve economic revenue.
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Moutai looks to spread reach in China |
