China's top liquor brand raises ex-factory prices of some products by about 20%

China's leading liquor maker, Kweichow Moutai, will raise the ex-factory prices of some of its flagship products, including Feitian and Wuxing, by an average of about 20 percent from November 1, the company announced Wednesday.

The adjustment does not involve the market guideline prices of its products, the company said.

The company posted an operating revenue of around 103.27 billion yuan (US$14.39 billion) in the first three quarters of 2023, up 18.48 percent year on year. Its net profit rose 19.09 percent year on year to 52.88 billion yuan during this period.

This renowned liquor is distilled in the town of Maotai in southwest China's Guizhou Province.