Liquor firm Kweichow Moutai's shares break through 1,000-yuan barrier

Kweichow Moutai Co Ltd, China's iconic high-end spirit maker, saw its share price exceed 1,000 yuan ($145) per share during Thursday trading, making a historical breakthrough and becoming the most expensive stock in the A-share market, aided by continuously growing demand and its good earnings.

Most investors are not surprised by the robust performance of Moutai. Earlier this year, many investment firms, including Goldman Sachs and China International Capital Corp Ltd, were bullish on the growth potential of the stock.

They set the target price of Moutai at more than 1,000 yuan per share, attributing it to China's sustained supply-side reforms and consumption upgrade, which have boosted investor sentiment toward such consumer stocks.