(Yicai Global) Oct. 26 – China's leading luxury liquor brand Kweichow Moutai Co. (SHA:600519) shares spiked another 7 percent today at early trading, hitting CNY605 (USD91.2) per share, driven by a sharp rise in the company's third quarter profits.

The new price hike in Kweichow Moutai shares puts the company's market value at CNY760 billion, higher than that of the China Petroleum and Chemical Corporation, Sinopec, (SHA: 600028).

Kweichow Moutai Co.'s operating income increased to CNY42.45 billion in the third quarter, up 59.4 percent year-on-year; net profit boosted 60.31 percent, or to CNY20 billion, both exceeding its performance in the whole of 2016, shows the company's third quarter financial report released yesterday.

The company's operating income was CNY38.9 billion, and the net profit amounted to CNY16.7 billion.