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Kweichow Moutai 1Q Net Profit Rose 19% on Year

Provided by Dow Jones

Apr 17, 2023 12:15am

By Justina Lee

Kweichow Moutai Co. said its first-quarter net profit rose 19%, supported by production and operation efficiencies.

Net profit increased 19% to 20.52 billion yuan ($2.99 billion), which exceeded the CNY20.18 billion estimate from a FactSet poll of analysts.

Total operating income rose 18% on year to CNY39.16 billion.

Kweichow Moutai is one of the biggest listed companies on the Shanghai Stock Exchange. The company has a market capitalization of CNY2.152 trillion.

Write to Justina Lee at justina.lee@wsj.com

(END) Dow Jones Newswires

April 16, 2023 20:15 ET (00:15 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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