China Resources Beer appoints new president, CFO

Core Insights - China Resources Beer has appointed Jin Hanquan as the new president and executive director, succeeding Zhao Chunwu, who has held the position since June [1][2] - Yang Hongxia has been named as the new CFO, taking over from Zhao Wei, who stepped down last month [2] Financial Performance - For the first half of 2025, China Resources Beer reported an unaudited consolidated turnover of 23.94 billion yuan ($3.36 billion), reflecting a year-on-year increase of 0.8% [2] - The gross profit margin improved by two percentage points to a record 48.9%, attributed to the premiumisation strategy and cost savings in raw material procurement [3] - Unaudited EBIT reached 7.69 billion yuan, while profit attributable to shareholders was 5.79 billion yuan, marking increases of 20.8% and 23.0% respectively [3] - Beer sales volume was approximately 6.48 million kilolitres, representing a 2.2% year-on-year increase [3] - Revenue from the beer business was 23.16 billion yuan for the half, an increase of 2.6% year on year, with beer EBIT rising by 14% to 7.28 billion yuan [4]