China's top liquor brand reports strong growth in H1

BEIJING - China's top alcohol brand Kweichow Moutai saw its sales revenue jump by 18.24 percent year-on-year in the first half of this year, according to the company Wednesday.

Moutai's net profit reached 19.95 billion yuan ($2.9 billion), up 26.56 percent year-on-year . Its sales revenue during the period reached 39.49 billion yuan.

In 2018, Moutai saw its output reach around 70,200 tons, with sales revenues reaching 73.6 billion yuan and net profits 35.2 billion yuan, up 26.49 percent and 30 percent respectively, year-on-year .

Distilled in the town of Maotai in Southwest China's Guizhou province, Moutai is one of the country's leading liquor brands and often served at state banquets.

Despite its high price, domestic demand for Moutai has always exceeded supply.