China: China Resources Beer names new president, CFO

China Resources Beer has named a new president and a new CFO, the Hong Kong-listed brewer has announced on October 13.

Jin Hanquan has been appointed to the roles of president and executive director at the Snow brewer.

He has worked for the China Resources (Holdings) Company Limited group since 2012.

Jin takes on the role of president from Zhao Chunwu, who had been China Resources Beer's president and chairman since June.

Zhao was named chairman in June after Hou Xiaohai resigned as executive director and chairman to focus on “other personal engagements”. He is to stay on as China Resources Beer's chairman.

The company, meanwhile, has named Yang Hongxia as CFO. Yang, another China Resources group veteran, succeeds Zhao Wei, who stepped down last month.

For the first half of 2025, the group reported unaudited consolidated turnover of 23.94bn yuan ($3.36bn), up 0.8% year on year.

The group said its gross profit margin rose by two percentage points to a record 48.9%, “benefiting from the continuous development of the beer business’s premiumisation strategy and savings in raw material procurement costs”.

Unaudited EBIT reached 7.69bn yuan and profit attributable to shareholders was 5.79bn yuan, up 20.8% and 23.0% respectively.

Beer sales volume was approximately 6.48million kilolitres, a 2.2% increase year on year.

Unaudited revenue from the beer business was 23.16bn yuan for the half, an increase of 2.6% year on year. Beer EBIT was 7.28bn yuan, up 14%.