Kweichow Moutai Posts 16% Rise in Third-Quarter Profit

Dow Jones2023-10-23

By Sherry Qin

Chinese liquor maker Kweichow Moutai posted a 16% on-year rise in net profit for the third quarter, driven by strong revenue growth.

Net profit rose to 16.90 billion yuan ($2.31 billion) in the quarter, compared with CNY14.61 billion in the same period a year earlier, the company said late Friday. That compared with the 21% increase recorded in the first half of the year.

Revenue climbed 14% to CNY33.69 billion during the third quarter.

The results put Moutai's year-to-date revenue at CNY103.27 billion, up 18% from a year earlier. That marks the first time that nine-month revenue has surpassed CNY100 billion.

Core brand sales reached CNY87.27 billion in the first nine months of the year.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

October 22, 2023 20:56 ET (00:56 GMT)

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That compared with the  21% increase recorded in the first half of the year. \n\n\n  Revenue climbed 14% to CNY33.69 billion during the third quarter. \n\n\n  The results put Moutai's year-to-date revenue at CNY103.27 billion, up 18% from a year earlier. That marks the first time that nine-month revenue has surpassed CNY100 billion. \n\n\n  Core brand sales reached CNY87.27 billion in the first nine months of the year. \n\n\n \n\n\n  Write to Sherry Qin at sherry.qin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 22, 2023 20:56 ET (00:56 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2377752496"}