China: Yanjing Brewery inaugurates brewery in Guangxi
Yangjing Brewery Group, a leading Chinese beer maker based in Beijing, announced on October 28 that it has carried on further its expansion scheme in south China by inaugurating the Yanjing Brewery (Yulin) Co., Ltd. in Yulin city, Guangxi, recently, according to Asia Pulse.
Earlier, Yanjing Group has taken over the No.1 beer brand in Guangxi Guilin Liquan and set up the Yanjing Brewery (Guilin Liquan) Co., Ltd.
The newly launched Yanjing Brewery (Yulin) Company was jointly funded by the Beijing Yanjing Brewery Co., Ltd. and Yanjing Brewery (Guilin Liquan) Co., Ltd. Beijing Yanjing Brewery Co., Ltd. (SSE:000729) is listed on the Shenzhen Stock Exchange, in which Yanjing Group takes a controlling 68.13 percentage stake.
Yanjing Brewery (Yulin) Company is designed to have an annual beer output capacity of 0.4 million tons, including 100,000 tons during the first phase that will cost 210 million yuan.
Since 2002, Yanjing Group has carried out a strategy of consolidating the Beijing market, expanding the north China market, tapping the nationwide market, and penetrating into the international market. Yanjing Brewery (Guilin Liquan) now has an annual output of 0.5 million tons.
Beijing Yanjing Beer Group Corporation, with its quality beer and first class beverage products has developed itself from the former Yanjing Brewery to the present day group of companies categorized by the state. The corporation was started in 1980. In 1997, it completed the shareholding system restructuring and pooled fund to establish Beijing Yanjing Beer Co., Ltd, pumping vitality into the enterprise. The whole corporation covers an area of 2,220,000 M2 with total assets reaching RMB6.0 billion yuan, of which the intangible assets are RMB4.569 billion yuan. There are now 20,000 employees, of whom almost 3,800 are engineers and technicians. Yanjing Beer Group Corporation produced 1.41 million-ton beer in 2000. It is the largest beer manufacturer and one of the one hundred largest drink manufacturers in China. It has been selected as one of the five hundred industrial enterprises with the best economic benefit all over China and one of China's top one hundred enterprises for years in succession. Yanjing Beer Group Corporation ranks first in total output and profit payment and tax turnover in China's beer industry.
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