UPDATE 1-TABLE-China liquor maker Moutai Q1 net up 63 pct

(Adds details)

SHANGHAI, April 22 (Reuters) - Quarter ended March 31, 2008.

(in millions of yuan unless stated, against 2007 figures):

Q1 2008 Q1 2007

Turnover 1,993.50 vs 1,587.54

Net Profit 873.35 vs 536.08

Earnings per share (yuan) 0.93 vs 0.57

Net assets per share (yuan) 9.65 vs N/A

Company: Kweichow Moutai Co (600519.SS: Quote, Profile, Research, Stock Buzz) is one of the
country's top makers of traditional Chinese liquor.

Note: The results were unaudited and compiled under domestic
accounting standards.

The company said its earnings rose in the first quarter
because of sales growth and lower corporate tax.

But accounts receivable jumped 68 percent to 78 million yuan
at the end of last month from 46 million yuan at the start of
this year because of increased sales to customers facing funding
shortages but with strong creditworthiness.

Its management costs rose 69 percent in the first quarter to
168 million yuan due to wage increases for its employees and
higher spending to improve the environment around the firm's
office buildings.

The company's net assets per share stood at 8.72 yuan at the
end of 2007. According to its report for the first quarter of
last year, the company's net assets per share reached 6.17 yuan
per share at the end of March 2007.

Last month, the company posted an 83 percent jump in its
annual 2007 earnings, thanks to strong demand for high-grade
liquor. But it added that the proliferation of other alcoholic
drinks such as wine poses a challenge.

(Reporting by Charlie Zhu; Editing by Anne Marie Roantree)