Tsingtao Brewery, China's largest beer maker and the recently announced joint venture partner of Anheuser-Busch has reported a net profit of 111.5 million yuan (US$13.5m) in the third quarter, contributing to a rise of 70% in the first nine months compared with a year earlier. No comparitive third quarter results were available as this is the first year that Chinese companies have been  required to disclose quarterly results.