Kweichow Moutai, one of China's most famous liquor brands, has announced an average price increase of about 18 percent from January 2018, amid high demand for premium liquor.
The company's shares rose by 8.21 percent in Shanghai Thursday.
The distiller's annual revenue is expected to increase by about 50 percent by the end of 2017 while profits are expected to rise by about 58 percent, according to a company statement released Thursday.
Moutai also expects liquor sales to grow 34 percent from 2016.
The company is aiming for total annual revenue growth of more than 10 percent by the end of 2018. That is much less than the 50 percent growth expected this year.
