(Yicai) Dec. 18 -- Kweichow Moutai is very likely to meet its annual sales growth target of 15 percent this year, despite the slump in consumer spending in the country, judging from the Chinese liquor giant's good performance in the first nine months, Chairman Zhang Deqin said yesterday.

Kweichow Moutai's revenue surged 16.9 percent in the nine months ended Sept. 30, while net profit soared 15 percent to CNY60.8 billion (USD8.3 billion), according to the Zunyi-based company’s third-quarter financial report released earlier.

Kweichow Moutai has formed a relatively complete sales ecosystem, Zhang said. Wholesale channels include social distribution, e-commerce, and supermarkets, while direct sales channels include the firm’s own outlets and the app iMoutai. In the first three quarters, revenue from direct sales surged 12.5 percent to CNY51.9 billion (USD7.1 billion).

Kweichow Moutai will pay out a cash dividend on Dec. 20, Zhang said. According to previous announcements, the company distributes an interim dividend of CNY23.88 (USD3.28) per share, amounting to CNY30 billion (USD4.1 billion), every six months.

The revenue growth target for 2025 will be announced in the 2024 annual report, Zhang said.

Kweichow Moutai is actively going global and since the beginning of the year has conducted research and marketing activities in Europe, North America, Southeast Asia and other places, Zhang said.

Revenue from its flagship fiery alcohol Moutai soared 24.3 percent in the first nine months year on year to CNY19.3 billion (USD2.6 billion), Deputy General Manager and Chief Financial Officer Jiang Yan said earlier. This accounted for 16 percent of the company’s liquor revenue, up from 15.1 percent a year ago.

Editor: Kim Taylor