Moutai nets over 8.7b yuan in 2011

Kweichow Moutai (Moutai), a top baijiu (Chinese rice wine) producer in China, net a profit of 8.76 billion yuan ($1.39 billion) in 2011, attaining a year-on-year growth of 73.49 percent, according to a company annual released Tuesday night, the Beijing News reported Thursday.

Its turnover in 2011 made 18.4 billion yuan, rising 58.19 percent over 2010, with a gross margin rate of more than 90 percent, said the annual.

Moutai's dividend formula also hit a historic high, where 10 shares were rewarded nearly 40 yuan.

Dividends worth 4.15 billion yuan have been distributed, said the report.

The concentration of the baijiu industry is very low in China, where the strongest four sellers own less than 5 percent market shares, a financial report recently published by Wuliangye Group, another top baijiu producer in China, said.