China's leading liquor producer reports gains in first two months

BEIJING - China's leading liquor producer, Kweichow Moutai, reported rising revenue and profits in the first two months.

The company's net profits attributable to shareholders surged 20 percent year on year to 10.2 billion yuan ($1.61 billion), said a statement the company filed with the Shanghai Stock Exchange.

During the period, operating revenue generated by the company totaled 20.2 billion yuan, up 20 percent from the same period last year, said the statement.

The company attributed the upbeat performance to booming sales of its products during the Chinese New Year Holiday, or the Spring Festival, according to the statement.

As of the close of trading on Friday, Moutai's share price was 1,769.01 yuan, down by 1.42 percent.