(Yicai Global) April 25 -- China's leading liquor maker Kweichow Moutai reported Thursday that its revenue grew 23.9 percent year on year to CNY21.6 billion (USD3.2 billion) in Q1 2019.

Net profit of the Guizhou-based company surged to CNY11.2 billion in Q1, up 31.9 percent compared with the same period last year.

Shares of the liquor maker hit a new intraday high of CNY990 Wednesday, pushing its market capitalization up to more than CNY1.2 trillion. So far, Moutai's shares have increased by more than 60 percent from CNY598.98 at the beginning of the year.

In 2018, Moutai saw its output reach around 70,200 tonnes, with sales revenues reaching CNY73.6 billion and net profits CNY35.2 billion, up 26.49 percent and 30 percent respectively, year on year.

The company plans to sell about 31,000 tonnes of product in 2019.

As a sorghum-based spirit, the Moutai liquor is considered a luxury item in China.