China liquor maker Wuliangye posts solid revenue growth in 2020

CHENGDU -- 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 ($8.76 billion) 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.