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Largest Beer Brewery Reports Profit
The Yanjing Beer Brewery Group Company, China's largest brewer, reported a sales revenue of 2.5 billion yuan (about 301 million US dollars) in 2000.
The group also raked in a profit of 929 million yuan (about 112 million US dollars), ranking first in the country's brewing industry, latest statistics show.
"It is the fourth straight year that the company has taken the first place in terms of profit in the industry," Bi Guisuo, a senior company official said.
According to the Beijing Municipal Trade and Economic Commission, the company ranked fourth last year in the list of the city's most profitable enterprises.
Yanjing boasts a market share of 90 percent in Beijing, 30 percent in north China and 7 percent nationwide, according to the statistics.
The company produced 1.41 million tons of beer in 2000.
Currently only two breweries in China, namely the Yanjing and the Qingdao Brewery in Qingdao, a scenic port city in east China's Shandong Province, have an annual output of more than one million tons.
Yanjing plans to raise its annual production to 2.5 million tons before the end of 2005, while Qingdao Beer hopes to increase its annual output to 3 million tons in 2003, when the brewery will celebrate its 100th birthday and is expected to become one of the top ten beer producers in the world.
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