Net income rose to 830 million yuan ($122 million), or 0.61 yuan per share, from 639.8 million yuan, or 0.49 yuan, a year earlier, China?s second-biggest beer company said in a Hong Kong stock exchange filing Friday. Sales rose 9.4 percent to 9.81 billion yuan.

Tsingtao and rival China Resources Enterprise Ltd. are expanding production and adding variety to increase market share as Chinese demand rises. Per capita beer consumption in China was 30 liters (7.9 gallons) last year, exceeding the global average of 27 liters, according to Seema International Ltd.
Sales volume growth rose 2.9 percent in the first half, Tsingtao said Friday. Sales of its Tsingtao-brand beer rose 17 percent, it said.

Tsingtao Brewery will increase production capacity in the second half, the statement said. The company also will ?actively seek? opportunities for mergers and acquisitions to increase market share.

Source : Konaxis

Tsingtao reported a net profit for the first three quarters of 2008 of 699.82 million yuan, or 0.5349 yuan per share, based on Chinese accounting standards, it said in a statement to the Hong Kong Stock Exchange late on Friday.

Industry analysts on average predict the company’s profit for the full year 2009 to rise about 60 percent to 1.11 billion yuan.

In August, the company, which competes with Heineken, Carlsberg and Kingway Brewery reported a 68 percent year-on-year rise in first-half profit, and projected a recovery in beer consumption in China to continue into the second half.

Source : Konaxis