China Kweichow Moutai Distillery (Group) Co. Ltd. is planning IPOs for three businesses through 2020, including an e-commerce listing by 2018, Bloomberg News reported Dec. 15.

Chairman Yuan Renguo told the news outlet that the company is working to list its e-commerce unit in Shenzhen, China, by 2018. The company also intends to float its agricultural arm and an operation producing a lower-cost version of its baijiu liquor called Xijiu, Bloomberg News reported.

The Chinese liquor-maker will also continue its financial services push as it seeks new growth drivers, the report added.

The group's listed unit, Kweichow Moutai Co. Ltd., overtook Diageo plc as the most valuable distiller this year and saw its third-quarter net profit climb 138.4% year over year.

In mid-November, Moutai drew a warning from Chinese state-owned Xinhua News Agency about the liquor-maker's surging share price.

A Nov. 16 Xinhua article called on the Shanghai-listed company to return to being a "slow bull" after the company's shares rose 118.5% in 2017.