Share price of China's top liquor brand Kweichow Moutai hits record high

Share price of Kweichow Moutai, China's leading liquor brand, opened at a record high of 900 yuan (about 133.93 U.S. dollars) 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.

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.

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.

(CGTN)