China: Yanjing Beer made an additional investment in its Guangdong subsidiary
Beijing Yanjing Beer Group Corporation (Yanjing Beer), a leading Chinese brewery, has made an additional investment of CNY 750mn into its Guangdong-based subsidiary Guangdong Yanjing Beer Co., Ltd., one of the most important steps for it to seize the Pearl River Delta market, SinoCast China Business Daily News Via Thomson Dialog NewsEdge communicated on March 30.
After the fresh capital injection, the registered capital of Guangdong Yanjing was boosted by CNY 100 million, including CNY 750 million from Yanjing Beer and CNY 250 million from another Beijing-based company, to CNY 200 million.
Therefore, Yangjing Beer takes a 75% share in the Guangdong-based subsidiary and the other Beijing-based company holds the rest 25%.
Guangdong is considered as the most important beer market because of its large consumption and high profits there. Ding Guangxue, vice general manager of Yanjing Beer, introduced that in 2004 Yanjing Beer invested CNY 100 million in building a factory in Foshan, a city in Guangdong Province.
Ding also revealed that to better use capital, Beijing Yanjing Brewery Co., Ltd. has agreed to sell its 22.49% stake in Beijing Fanhua Xiehe Bio-Pharm Co., Ltd. and its 1.37% stake in Beijing Securities Co., Ltd. to Yanjing Beer for CNY 10 million and CNY 20 million respectively.
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