Kweichow Moutai H1 profit soars
Print Edition
CHINA’S leading liquor maker, Kweichow Moutai, saw a 40.12-percent rise in net profit in H1 thanks to supply-side improvements.
The company’s net profit rose markedly to 15.76 billion yuan (US$2.3 billion) in the first half, according to its financial report lodged with the Shanghai Stock Exchange.
Over the same period, Moutai’s revenue reached 33.4 billion yuan, up over 38 percent year on year. Moutai, a high-end spirit in China, is considered a luxury item that has long been a popular gift.
The liquor maker, based in southwest Guizhou Province, said it “relieved the imbalance of supply and demand” by improving production capacity, reaching 39,465.4 tons in the first half.
Moutai’s stock price passed 800 yuan per share in June, taking its total market value above 1 trillion yuan.
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