茅臺酒業很苦惱

China’s Kweichow Moutai Co., the world’s most valuable liquor distiller, said it aims to boost revenue by more than 15 percent this year as it benefits from Chinese consumers shifting to pricier spirits.

世界上最有價值的釀酒公司中國貴州茅臺股份有限公司表示，得益於中國消費者轉向高價白酒，該公司今年的目標是增加15%以上的收益。

Full-year net income grew 8 percent last year to 16.7 billion yuan ($2.4 billion). Revenue rose 19 percent to 38.9 billion yuan.

去年，茅臺全年的淨收入增加了8%，達167億元（24億美元），其收益增加了19%，達389億元。

Profit growth comes as Moutai raises wholesale prices, a sign that the top-shelf brands in the baijiu industry have succeeded in appealing more to a growing middle class.

茅臺的利潤隨着批發價格的提高而增長，這說明在白酒行業，這個頂級品牌成功地吸引到了更多的中產階級。

“Moutai boasts the strongest pricing power in the industry with its strong brand awareness,” an analyst at SWS Research Co., said. “It has robust growth momentum and rising levels of profitability driven by rising income levels and middle-class consumers spending more.”

“茅臺以其強大的品牌知名度和其在行業內的最強定價權而自豪，”申銀萬國證券研究有限公司的一位分析師表示。“受到收入水平提高以及中產階級消費者購買力增強的影響，茅臺獲得了穩健的增長勢頭，其盈利率也不斷上漲。”

Maotai's stock has more than tripled since 2013, closing at 395.45 yuan Friday in Shanghai.

自2013年以後，這隻股票漲了三倍多，星期五在上交所的收市價格爲395.45元。

But it faces the long-term challenge of attracting young Chinese drinkers who are fonder of bars and nightclubs than the banquet halls where baijiu is often downed. Their willingness to spend more is also matched by a desire to invest in healthier lifestyles, while makers of wine and Western liquors like whiskey make a strong bid for their attention.

但白酒在吸引中國年輕的飲酒者上仍面臨着長期的挑戰。比起宴會廳，年輕人更喜歡酒吧和夜店，而在那裏白酒往往不受歡迎。他們願意消費更多也與他們希望在更健康的生活方式上投資的想法相匹配，然而葡萄酒和西方威士忌等酒類飲品廠商也在設法吸引他們的關注。

“There’s a growing health-consciousness among consumers that could impact the demand for baijiu in the long term,” said Hunter Williams, a partner at Oliver Wyman Ltd.

“消費者的健康意識日益增長，從長期看，這會影響對白酒的需求，”奧緯諮詢公司合夥人亨特·威廉姆斯說道。