By Sherry Qin

Chinese liquor giant Kweichow Moutai is aiming for continuous sales growth in 2024, it said after posting a 19% rise in annual net profit on stronger sales.

China's most valuable liquor brand said late Tuesday that its 2023 net profit came at 74.73 billion yuan ($10.33 billion), slightly higher than the company's guidance.

Its operating revenue was CNY147.69 billion, up 19% from the previous year, which the company attributed to higher sales volume and changes in selling channels, among other reasons.

For 2024, Moutai aims to grow total operating revenue 15% and make CNY6.179 billion in fixed asset investments.

Moutai declared a dividend of CNY308.76 per 10 shares. It distributed a total of CNY56.55 billion in cash dividends in 2023, accounting for 75.67% of its annual net profit.

Write to Sherry Qin at

(END) Dow Jones Newswires

04-02-24 2108ET