Net profit of China's top liquor brand Moutai surges 30 pct in 2018

China's leading liquor maker Kweichow Moutai said Thursday that its net profit saw a 30-percent rise in 2018.

The company's net profit attributable to its equity holders reached 35.2 billion yuan (about 5.2 billion U.S. dollars) last year, thanks to supply-side improvements, according to its financial report filed to the Shanghai Stock Exchange.

Over the same period, the Guizhou-based company saw its revenue grow 26.49 percent year on year to 73.6 billion yuan. Its output reached 70,200 tonnes, an annual growth of 10.08 percent.

Moutai is a sorghum-based spirit produced by Kweichow Moutai and is China's top brand of baijiu (white alcohol). The liquor, often served on official occasions and at state banquets, is considered a luxury item and has long been a popular gift.

Despite its high price, domestic demand for Moutai has always exceeded supply.