Wuliangye net profit falls by 31%

Liquor maker Wuliangye Yibin Co Ltd saw its net profit for the first half of 2014 fall 30.9 percent year-on-year to 4 billion yuan ($651.15 million), according to a filing on Shenzhen Stock Exchange on Wednesday.

Wuliangye's first-half income reached 11.66 billion yuan, a 24.85 percent year-on-year drop, due to the flagging liquor market in China, according to the filing.

The company said it has implemented new marketing measures to be in line with the changing market, including adjusting product prices and exploring e-commerce.