File Photo/NBD

Kweichow Moutai announced on the evening of April 29 that it has recommended Zhang Deqin as a candidate for the chairman of the company.

On the evening of April 26, Kweichow Moutai reported its first-quarter results for 2024. The company achieved revenue of 45.776 billion yuan, an increase of 18.11% year-on-year; net profit attributable to shareholders was 24.065 billion yuan, an increase of 15.73% year-on-year, a record high for the same period in history.

Among them, the direct sales channel achieved revenue of 19.319 billion yuan, an increase of 8.49% year-on-year, accounting for about 42% of total revenue. The wholesale channel achieved revenue of 26.324 billion yuan, an increase of 25.78% year-on-year, accounting for about 58% of total revenue. At the end of the reporting period, there were 2,097 domestic distributors, an increase of 17 from the beginning of the period.

In addition, the "i-Moutai" digital marketing platform achieved revenue from liquor sales of 5.343 billion yuan in the first quarter, an increase of 8.97% year-on-year, and the growth rate has also slowed down compared with previous years.