Consumer Staples Author：Xinyu Chen Editor：Yiru Qian Mar 31, 2023 01:12 PM (GMT+8)

The performance of Chinese liquor companies remains strong in 2022.

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Kweichow Moutai (600519:SH) released its 2022 annual report on March 30. The company achieved a revenue of CNY 124.099 billion, up 16.87% year-on-year. Net profit reached CNY 62.716 billion, up 19.55% from 2021. The company intends to pay a cash dividend of CNY 259.11 (including tax) for every 10 shares to all shareholders, totaling a cash dividend of CNY 32.549 billion. The cash dividend rate amounted to 51.89%.

According to the report, the robust growth in 2022 was significantly contributed by increased sales and transformation of sales channels and product mix. In 2023, the company expects to witness a total operating revenue growth of about 15% over the previous year and a capital investment of CNY 7.109 billion.

In terms of sales channels, direct sales channels reported revenue of CNY 49.379 billion, up 105.49% year-on-year, accounting for 39.79% of total revenue. Meanwhile, wholesale agents achieved revenue of CNY 74.393 billion, which dropped 9.31% on a yearly basis.

Since 2022, Kweichow Moutai has initiated and stepped into a new track and successfully launched the "iMoutai" digital marketing APP. Data showed that by the end of 2022, "iMoutai" achieved sales revenue of CNY 11.883 billion.

As of press time, Kweichow Moutai closed at CNY 1,835.00 apiece, with a market cap of CNY 2.25 trillion.