Dukang Distillers' share surge prompts query from SGX

SINGAPORE - Singapore Exchange queried Dukang Distillers Holdings on May 27 after shares of the China-based spirit producer surged by over 20 per cent.

Dukang shares ended 3.1 cents or 19.6 per cent higher at 18.9 cents. This followed the steady gain that it has had since May 16 - two days after the company announced a 76.2 per cent year-on-year drop in net profit to 1.8 billion yuan for the three months ended March 31.

The company has been hit hard by weaker sales of flagship baijiu products as the Chinese government steps up anti-corruption and austerity measures.