China's top liquor brand reports strong growth in Q1

GUIYANG — China's top alcohol brand Kweichow Moutai reported a net profit rise of 25.2 percent year-on-year from January to March.

Moutai's net profits in the first quarter rose to 6.1 billion yuan (around $886 million). Its sales revenues during the period reached 13.3 billion yuan, up 33.24 percent year-on-year, according to Kweichow Moutai on Tuesday.

In 2016, Moutai saw its output reach around 60,000 metric tons, with sales revenues surpassing 38.8 billion yuan and net profits reaching 16.7 billion yuan, up 18.99 percent and 7.84 percent, respectively, year-on-year.

Distilled in the town of Maotai in southwest China's Guizhou province, Moutai is considered the country's national liquor and often served on official occasions and at state banquets.