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China: Yanjing Brewery Profits soar on increased sales

yanjingbeer

Net profit in the Beijing Yanjing Brewery Co., Ltd., a major Chinese beer brewery, increased 25.05 percent to 318.42 million yuan (46.62 million U.S. dollars) in the first half this year, boosted by sales, the company said Tuesday.

Turnover during the Jan.-June period soared 18.98 percent year on year to 4.89 billion yuan, the company said in its semiannual report to the Shenzhen Stock Exchange.

“Beer production grew 14 percent to 2.21 million kiloliters in the first six months this year, higher than the industry average growth rate of six percent,” it said.

The company, holding more than 85 percent of the Beijing market, saw its sales in other cities rise by 17 percent.

The company’s three other brands, “Liquan,” “Huiquan” and “Xuelu” contributed to regional expansion together with the “Yanjing” brand, according to the report.

The share price of the company gained 1.22 percent to 15.75 yuan in the morning session Tuesday.

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Thursday, November 23, 1:00 pm

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