China's leading liquor producer Wuliangye Yibin Co., Ltd. has posted an estimated year-on-year revenue increase of 14 percent to reach 57.2 billion yuan (about 8.76 billion U.S. dollars) in 2020.
The company's net profit attributable to its shareholders rose to about 19.9 billion yuan, also up around 14 percent year on year, according to the company's annual report on major performance data.
With the company's revenue goal set at 200 billion yuan, it is expected to maintain double-digit growth in the 14th Five-Year Plan period (2021-2025), said analysts at Guotai Junan Securities.
The company's high-end Wuliangye brand is expected to power the growth, while the company has been expanding new sales channels such as group purchasing, the analysts noted. Enditem