China's leading liquor maker Kweichow Moutai posted an operating revenue of 150.56 billion yuan (about 20.81 billion U.S. dollars) in 2023, up 18.04 percent year on year.

Its net profit also rose 19.16 percent year on year to 74.73 billion yuan last year, the company said in its annual report issued on Tuesday night.

Distilled in the town of Maotai in southwest China's Guizhou Province, this famed liquor is often served at state banquets.