BEIJING, July 23 (Xinhua) -- China's top alcohol brand Kweichow Moutai is forecast to see a decline in revenue growth for the third quarter of the year partly due to tight supplies, according to a report from China International Capital Corp.
Moutai's revenues are projected to rise by 15 percent year on year during the third quarter, slowing from an 18.24-percent growth in the first half.
Profits of the alcohol maker are likely to reach between 42.04 billion yuan (about 6.18 billion U.S. dollars) and 52.72 billion yuan in 2019, according to the report.
Moutai's profits reached 19.95 billion yuan during the first half, up 26.56 percent year on year. Its revenue during the period reached 39.49 billion yuan.
Moutai plans to sell 31,000 tonnes of liquor this year, slightly down from its sales of 32,000 tonnes in 2018.
Distilled in the town of Maotai in southwest China's Guizhou Province, Moutai is one of the country's leading liquor brands and often served at state banquets.
Despite its high price, domestic demand for Moutai has always exceeded supply.
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