(Yicai Global) Aug. 24 -- Sichuan Tuopai Shede Wine Co. [SHA:600702] posted CNY879 million (USD132 million) revenue in the first half of this year, up 12.72 percent from a year earlier. Net profit increased 169 percent annually to CNY62.3 million.

China's liquor industry maintained last year's improving trend and upbeat business climate and continued to enjoy stable and healthy development this year, a statement from the company said. Premium Chinese liquor products experienced a full recovery on the back of consumption upgrade and brand influence, and sub-high-end products also enjoyed good development.

Sales of middle- to high-end liquor products grew 25.6 percent annually in the first half, while sales of low-end liquor fell 21.3 percent.