Yanjing Brewery Co Ltd, Tsingtao Brewery's main domestic rival, expects to post net profit growth in access of 30 percent in 2007 as it rides robust consumption for the brew of the same name ahead of the 2008 Beijing Olympics.
President Li Fucheng told reporters on Tuesday the firm, which competes in China with Tsingtao and local champions SABMiller Plc and China Resources Enterprises, should sell 4 million tonnes of beer in 2007 versus 3.5 million tonnes last year.
It should then rise gradually to 4.5 million tonnes and 5.0 million tonnes in 2008 and 2009, respectively.