Net profit of China's top liquor brand posts strong growth in H1

GUIYANG - China's leading liquor maker Kweichow Moutai posted a net profit of 29.79 billion yuan ($4.4 billion) in the first half of 2022, up 20.85 percent year-on-year.

From January to June, its revenue climbed 17.38 percent year-on-year to 57.62 billion yuan, according to a report released by the company on Tuesday night.

Last year, the revenue of the alcohol maker reached 109.46 billion yuan, a year-on-year increase of 11.71 percent. Its profits totaled 74.53 billion yuan, up 12.59 percent in 2021.

Distilled in the town of Maotai in Southwest China's Guizhou province, this famed liquor is often served at state banquets.