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China Resources Beer Holdings Co Ltd (CRHKY.PK)

CRHKY.PK on OTC Markets Group

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Tue, Mar 21 2017

UPDATE 1-China Resources Beer swings to profit in 2016, eyes acquisitions

* Aims to grow organically and through acquisitions (Add earnings details, company comments)

China Resources Beer swings to profit in 2016

HONG KONG, March 21 China Resources Beer (Holdings) Co Ltd reported its first annual profit in three years in 2016, as it focused on its flagship Snow brand and expanded sales in various Chinese cities, while optimising product mix.

BRIEF-China Resources Beer says FY profit after tax rose 6.8 pct

* consolidated profit attributable to company's shareholders in 2016 was rmb629 million

BRIEF-China Vanke says share transfer registration formalities for transfer of 1.69 bln A shares completed

* Share transfer registration formalities for transfer of 1.69 billion A shares in co was completed

BRIEF-China Resources to sell its China Vanke stake to Shenzhen Metro

* Says China Resources and unit will sell entire 1.69 billion A-shares in the company to Shenzhen Metro

BRIEF-China Resources considers major plan involving holdings in China Vanke

* Says shareholder China Resources is considering major plan involving its holdings in the company

BRIEF-China Resources Beer says Wang Qun tendered resignation as executive director and vice chairman

* Wang Qun has tendered his resignation as an executive director and vice chairman of company Source text for Eikon: Further company coverage:

BRIEF-China Resources Beer completes acquisition of share capital of China Resources Snow Breweries

* announces completion of acquisition of 49% of total issued share capital of china resources snow breweries

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