(Yicai Global) July 26 -- Kweichow Moutai Co. [SHA:600519] has seen a sharp increase in both its share price and the price of its Feitian Moutai product, China's most popular spirit, this year. The company's sales for the first six months of the year is indicative of its popularity.
Sales at Kweichow Moutai Jiangxiangjiu Marketing Co. (KMJM) in the first half of the year has exceeded its sales last year, Zheng Qiaoran, deputy general manager of KMJM, said at the Moutai Jiangxiangjiu & 1919 big data marketing event yesterday. KMJM achieved revenue of CNY2.42 billion (USD360 million) last year. It aims to sell 26,000 tons of liquor products worth CNY5 billion (USD760 million) this year and has already completed 50 percent of that target.
KMJM, which was spun out of Kweichow Moutai Liquor Sales Co. in 2014, independently operates all the liquor products operations of Kweichow Moutai including Moutai Wangzijiu, Moutai Yingbinjiu, Hanjiangjiu and Renjiu. Kweichow Moutai hopes to make Jiangxiangjiu series a new source of revenue growth.
Its latest partnership with 1919 Wine&Spirits Platform Science and Technology Co. [NEEQ:830993] targets introducing Moutai Wangzi Jiangxiang classic, a product that will go on sale soon. 1919 Wine&Spirits purchased nearly 600 tons of Moutai Jiangxiang liquor products in the first half of the year, a nearly 19-fold increase on the previous year, said Xia Jie, general manager of 1919 Wine&Spirits.