Snow Beer volume increased 5 percent during the first half of 2014. Promotions and capacity drove growth. The company operates over 95 breweries in China, including seven added with the acquisition of Kingway Brewery, at the end of 2013.
China Resources Snow Breweries Company, Ltd., the maker of Snow Beer, is a joint venture between China Resources Enterprise Ltd., an SOE (State Owned Enterprise), and SABMiller, the second largest global brewer, which markets around 200 beer brands worldwide.
China Resources Enterprise, Ltd. is listed on the Hong Kong Stock Exchange. Along with brewing, the conglomerate operates in retail, with about 4,000 stores, and food and beverages. It is part of state- owned China Resources (Holdings) Company, Ltd.
Net income of China Resources Enterprise Ltd. declined 9 percent to $120 million on a 16 percent revenue increase to $10.8 billion, during the first half of 2014. For the full year 2013, net income dropped 52 percent to $246 million on a 16 percent revenue increase to $18.9 billion.