Tsingtao, China's second-largest brewer by volume, is now reporting that its first-half profits have risen by 21.6 percent year-on-year on higher sales and expanded production capacity.
In a statement filed with the Shanghai Stock Exchange, Tsingtao says net profits have risen to 989.9 million yuan, or 155 million U.S. dollars.
That's up from the 813.9 million yuan the company pulled in over the first half of last year.
The company has sold 3.75 million kiloliters of beer during the first half, a rise of 20.6 percent year-on-year.
The statement says the company is hoping to see annual beer sales of 10 million kiloliters by 2014.
The National Bureau of Statistics is reporting beer output here in China has increased 11.4 percent from a year earlier to 23.5 million kiloliters during the first half.
