Related News
Moutai, Wuliangye report decline in H1 profits
Online Edition
China's two biggest liquor makers, Kweichow Moutai and Wuliangye, reported declines in profits in the first half of this year, partly due to a government crackdown on lavish spending.
Wuliangye's net profits in the first half of the year totaled 4 billion yuan (US$649 million), down 31 percent year on year, according to the company's interim report released on Thursday.
Its sales revenues during the same period were 11.66 billion yuan, down 25 percent year on year.
The Sichuan-based liquor maker attributed the drastic decline to market turbulence following the government's frugality campaign.
The Guizhou-based Moutai, dubbed China's "national liquor," performed better than its long-term competitor, Wuliangye, thanks in part to its price reduction strategy.
Moutai saw 7.23 billion yuan in net profits in the first half, down 0.25 percent year on year. Its sales revenues during the same period reached 14.32 billion yuan, up 1.37 percent from the previous year, according to the company's interim report released on Friday.
Moutai plans to invest 25 million yuan with partners to set up an e-commerce company to broaden its source of revenues, according to another Moutai report released on Friday.
Moutai has cut the price of its flagship product, 53 degrees Feitian Moutai, by half to less than 1,000 yuan per bottle to attract customers. The price cuts are meant to offset the negative impact of the government's frugality campaign.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
