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Shares in Kweichow Moutai rose to touch a new high on Tuesday following a stock exchange filing last week showing revenue rose almost 20 per cent in 2016.

Shares climbed as much as 1.2 per cent to Rmb400.62 in Shanghai, the highest level on record, before easing slightly to Rmb399.8.

On Friday the company revealed in a stock exchange filing that revenue rose 19 per cent to Rmb38.9bn, while net income rose 8 per cent to Rmb16.7bn.

Tuesday’s jump is only the latest boost for the liquor maker’s share price, which on March 7 jumped as much as 2.5 per cent on word it was expanding production to keep prices down in the face of growing demand. On April 10 Moutai overtook Johnnie Walker-brand owner Diageo to become the world’s most valuable liquor-company.

Copyright The Financial Times Limited 2017. All rights reserved.

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