By Martin Mou
Wuliangye Yibin Co.'s first-half net profit rose 16% compared with the same period a year earlier, helped by higher operating income.
Net profit was 10.86 billion yuan ($1.58 billion) as operating income climbed 13% to CNY30.77 billion, the Chinese liquor maker said late Thursday.
Wuliangye said it initiated a series of measures to stabilize operations and boost sales to cope with the Covid-19 pandemic.
The company's Shenzhen-listed shares, last down 0.5% at CNY236.85, have gained 80% year to date.
Kweichow Moutai Co., a major rival to Wuliangye in China's premium baijiu market, last month posted a 13% increase in its first-half net profit.
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