Yanjing Brewery, China's third-largest beer maker, has reported net profit for 2005 of CNY276.8m (US$34.6m), up 2.3% from 2004, on the back of a 13.8% rise in sales to CNY5.3bn.
 
Yanjing, an indirect subsidiary of the conglomerate Beijing Enterprise Holdings, said that beer volumes had increased by 10.3% to 2.85m tonnes.
 
The brewer is the only major brewer in the country so far to have shunned approaches from international brewing groups. However, its two main shareholders are reported to be planning to float its non-tradable state shares.
 
Yanjing is also thought to be looking to develop a new plant in the west of China. The company was recently reported to have signed a deal to invest in the construction of the brewery in Shihezi, located in the Xinjiang region.