China's Yanjing Beer Group has announced its performance report for the third quarter of 2011, stating that from January to September 2011, the company realized operating revenue of CNY10.374 billion, a year-on-year increase of 15.83%.
Its net profit was CNY784 million, a year-on-year increase of 10.21%; and its earnings per share were CNY0.648.
At the same time, its operating revenue for the third quarter alone was CNY4.185 billion, a year-on-year increase of 6.77%; its net profit was CNY345 million, a year-on-year increase of 10.28%; and its earnings per share was CNY0.2851.
For sales, the company sold 4.63 million kiloliters of beer during the first three quarters of 2011, an increase of 10.9% compared with the same period of last year. Its sales in emerging markets continued to see fast growth, including sales of 110,000 kiloliters in Xinjiang and sales of 123,000 kiloliters in Sichuan. According to the report, the total sales of its four major brands, including Yanjing, Liquan, Huiquan, and Xuelu, reached 4.15 million kiloliters during the nine months, which was a year-on-year increase of 11.86% and it accounted for 90% of its overall beer sales.
Yanjing Beer also revealed that to optimize resource allocation and unify market management, the company has decided to transfer its 78.33% stake in its owned subsidiary Yanjing Beer (Kunming) to another owned subsidiary Yanjing Beer (Guilin Liquan). After the transaction, Yanjing Beer (Guilin Liquan) will hold a 95% stake in Yanjing Beer (Kunming).
In addition, to further improve its strategic layout in the nationwide market, Yanjing Beer will invest CNY18 million to set up a joint venture, Yanjing Beer (Guiyang), with Yanjing Beer (Guilin Liquan). Yanjing Beer (Guiyang) will have registered capital of CNY360 million, including CNY342 million invested by Yanjing Beer (Guilin Liquan), accounting for 95%.
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