Kweichow Moutai buoyant on 2023 development

Kweichow Moutai holds a presentation about its performance in 2022 and the first quarter of 2023 in Shanghai. [Photo provided to eguizhou.gov.cn]

Kweichow Moutai Co, based in Southwest China's Guizhou province, presented its performance appraisal for 2022 and the first quarter of 2023, in Shanghai on May 19.

In 2022, Moutai achieved remarkable progress with steady growth in its main operating indicators, achieving revenue of 127.55 billion yuan ($18.17 billion), a year-on-year growth of 16.53 percent.

Moutai produced 56,800 metric tons of Moutai base liquor and 35,100 tons of Maotai-flavored liquor, with a 100-percent pass rate in packaging inspection, packaging material sampling, and product qualification rate, maintaining stable and high-quality production.

Moutai launched 203 scientific research projects in seven areas last year, including raw materials, microorganisms, and brewing environments, with a year-on-year growth of 70.94 percent.

Moutai has announced an investment of 15.52 billion yuan to reform the company's technologies, which will add a production capacity of approximately 19,800 tons of liquor.

Moutai practices the environmental, social and corporate governance (ESG) concepts and was selected as an "outstanding case study of company ESG" in 2022.

Since its initial public offering (IPO), Moutai has adhered to a stable and continuous cash dividend policy to reward shareholders. As of now, it has cumulatively distributed over 176.1 billion yuan in cash dividends, about 88 times the net proceeds of its IPO, accounting for 47.48 percent of its cumulative net profit since its listing.