China: Chongqing Brewery records dramatic growth in nine-month sales volume and operating revenue

Chongqing Brewery Company, a brewery whose headquarters is in Chongqing, Southwest China, recorded dramatic growth both in sales volume and operating revenue in the first three quarters of this year, the China Daily reported on October 28.

The company's sales volume grew 4.54 percent year-on-year to 2.53 million kilolitres in the last nine months, while its operating revenue increased 8.91 percent year-on-year to 12.2 billion yuan ($1.69 billion), according to the company's report, which was released on October 27 in Guangzhou, the capital of Guangdong province.

"High-end products played an important role in boosting sales," said Lee Chee Kong, president of Chongqing Brewery Company.

According to the company's financial report, main business income of high-end products, usually referring to those of 10 yuan or above per bottle, increased by 8.71 percent year-on-year in the first three quarters.

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 2020.

Based on local and international brand combination, the Chongqing brewer has been able to meet Chinese consumers' needs for higher quality beer in different scenarios, according to Lee.

"Expansion of local brands and dramatic increase of imported high-end brands from Carlsberg has pushed up sales growth," said Lee.

In addition to traditional supermarket channels, the Chongqing brewer has also accelerated development of online stores on mainstream e-commerce platforms, and through O2O, livestreaming broadcast, takeout platforms, and other channels to attract consumers to place orders.

"We will continuously improve the convenience of consumers' purchase and expanded new channels to reach our consumers," he said.

29 October, 2022