November 17 -- Wuliangye Yibin (000858.SZ) expects to record revenue of more than 20 billion yuan this year on better than expected sales of its high-end spirits and the rapid growth of its mid-end products, reports stcn.com, citing a company insider.

The new chairman of Wuliangye, Liu Zhongguo, said the spirits maker will continue to develop new products that cater to customers of different age groups, social status and background.

Since the beginning of 2011, Wuliangye had recorded double-digit growth in the output and sales of its entry-level products.

The insider said the company's 2011 sales target for its Yongfu Jiangjiu brand of spirits was 800 tons, and the current sales volume is about 600 tons.

The company aims to produce 3,000 tons of Yongfu Jiangjiu by 2015, added the insider.