Chongqing Brewery sees big jump in sales, revenue

Chongqing Brewery Company, a brewer based in Chongqing in Southwest China, recorded dramatic growths both in sales volume and operating revenue in the first half of this year, according to sources with the company.

The company's sales volume grew 22.59 percent year-on-year to 1.55 million kiloliters in the last six months, while its operating revenue increased 27.51 percent year-on-year to 7.14 billion yuan ($1.1 billion), according to the company's half-a-year report.

"The asset reshuffle, which was finished last year, contributed to the growth, helping boost our competitiveness in the brewery market," said Lee Chee Kong, president of Chongqing Brewery Company.

Lee made the remarks during a recent presentation of the company's half-year results and its performance in the Chinese market in the first half of 2021 in Guangzhou, the capital of Guangdong province.

After a major asset reshuffle last year, the Chongqing-based company has now grown into a national brewery manufacturer, which has developed a nationwide supply chain consisting of 26 factories across nine provinces and municipalities.

The Chongqing brewer has become the only platform operating Carlsberg brewery's business in China, after it completed the major asset restructuring with Carlsberg China in December last year.

"We seized the opportunities of the consumption recovery of the beer industry in the first half of this year, introducing a series of high-end brands to the market," said Lee.

According to the National Bureau of Statistics, the output volume of Chinese beer companies above the designated size grew 10.25 percent year-on-year in the first six months of 2021.

"The social and economic activities have gradually resumed in the first half of this year, helping push up a rebound of the beer consumption," said Lee.

According to Lee, the company will accelerate its multi-brand development strategy, which highlights integration of local and imported high-end brands in the future.

"Expansion of local brands and dramatic increase of imported high-end brands from Carlsberg has pushed up sales growth. We will further promote high-quality products for Chinese consumers," said Lee.