On 19 August, CR Beer announced its interim results for 2016. As at the end of June 2016, CR Beer operated 98 breweries in 25 regions in mainland China, with an aggregate annual production capacity of approximately 22,000,000 kiloliters, while beer sales volume amounted to approximately 6,128,000 kiloliters, outperforming industry average. Turnover for the continuing operations reached RMB15,213 million and attributable profit increased by 45.1% year-on-year to RMB605 million. EBIT surged by 40.2% to RMB1,657 million year-on-year.

The overall average selling price recorded a slight increase in the first half of 2016 as compared with the same period last year. This was mainly due to the continuous efforts of optimizing product mix as well as sales volume for mid- to high-end beer products maintained growth. Operating profit also grew through decrease in certain costs for raw materials and better use of selling expenses.

CR Beer has always taken stakeholders’ long-term benefit as its top priority and dedicated itself to enhance shareholder returns through various means. China is the world’s biggest beer market where beer industry is at a transitional stage. It is expected that potential opportunities for further consolidation will arise in the future. CR Beer is confident for the industry outlook and that it will maintain its leadership position in the industry, as well as deliver sustainable growth in profitability and return on asset through greater operational flexibility brought about by the strategic transformation to create higher value for its shareholders.