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Monday, April 08, 2019, 12:51
Share price of China's liquor giant Moutai hits record high
By Xinhua
Monday, April 08, 2019, 12:51 By Xinhua

In this undated photo, workers attach red Moutai ribbons to liquor products on the production line of a Kweichow Moutai factory in Renhuai, Guizhou province. (YANG JUN / CHINA DAILY)

BEIJING Share price of Kweichow Moutai, China's leading liquor brand, opened at a record high of 900 yuan (about US$133.93) per share Monday.

The company's share price surged 3.47 percent at the midday to 895 yuan per share, bringing its total capitalization to surpass one trillion yuan.

ALSO READ: Moutai valuation surges as shares rise

This came after the liquor maker reported a strong profit growth of 31 percent in the first quarter this year.

The company's net profits in the first quarter of 2019 rose to 11 billion yuan, while its sales revenues reached 25.7 billion yuan during the period, up 21 percent year on year.

READ MORE: Robust fundamentals boost Moutai

Led by Kweichow Moutai, shares of liquor makers rose across the board. Sichuan Swellfun climbed 4.87 percent to end at 49.7 yuan in the morning session. Wuliangye Yibin rose 1.42 percent to 101.65 yuan at midday.

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