China Resources Beer releases 2025 annual report: steady growth in performance

On March 10, Chongqing Brewery Co., Ltd. (SH:600132, hereinafter referred to as “Chongqing Beer”) released its 2025 annual report. Despite the overall consumption market slowing down and intensified industry competition in 2025, the company maintained steady operations, continuously optimized product structure, deepened channel development, and improved operational capabilities. It achieved steady growth in sales, revenue, and profits, demonstrating resilience in uncertain environments and further promoting high-quality development.

The report shows that in 2025, Chongqing Beer achieved a sales volume of 2.9952 million hectoliters, up 0.68% year-on-year; revenue of 14.722 billion yuan, up 0.53%; and net profit attributable to shareholders of 1.231 billion yuan, up 10.43%. During the same period, the Chinese beer industry faced overall pressure. Data from the National Bureau of Statistics indicates that in 2025, the total beer production of large-scale enterprises in China was 35.36 million hectoliters, a decrease of 1.1% year-on-year.

2025 Performance Overview

President Li Zhigang stated: “Looking ahead to 2026, under the theme of ‘Innovation and Efficiency, Building New Heights,’ we will continue to promote product innovation, enhance operational efficiency, and strengthen organizational capabilities to drive high-quality development.”

Products: Over 30 New Products Meet Diverse Consumer Needs

Chongqing Beer has a brand portfolio consisting of local and international brands. Local brands include Wusu, Chongqing, Shancheng, Xixia, Dali, Fenghuaxueyue, Tianmuhu, JingA, among others. International brands include Carlsberg, Löwenbräu, 1664, Brooklyn, Summer Fun, etc. Leveraging this brand portfolio, Chongqing Beer continuously launches new products, packaging, and flavors to meet the diverse needs of consumers across different scenarios.

Some Products

In 2025, the company launched over 30 new products, including craft beers, tea beers, 1L bottles (1-liter cans), aligning with industry trends. It also expanded its product lines to include fruit-flavored sodas and energy drinks, enriching product offerings for various consumption scenarios and promoting ongoing optimization of product structure.

Some Products

Entering 2026, the company continued its innovation momentum, launching products such as Wusu New Year Limited 8.88L, which received high market recognition. The 1L bottles included “Wusu Jin Junmei Craft Beer,” “Wusu Amber Lager,” “Chongqing State Ban Double Hop,” and “Fenghuaxueyue Four Seasons Brew.” Additionally, brands like Carlsberg, Löwenbräu, Xixia, and Dali released Year of the Horse New Year packaging, and JingA launched “Masho Craft” Spring Festival gift boxes, enriching festive consumption options.

Fenghuaxueyue Four Seasons Brew

In cross-beer categories, since 2026, “Summer Fun” and “Yile Xian Di” jointly launched lemon low-alcohol fruit-flavored gift boxes, and flavored products like “Löwenbräu Frozen Wine” have been introduced, continuously expanding product innovation in young consumer scenarios and further extending category boundaries.

Brands: Deepening Consumer Connections Through Scenario Marketing

Since 2025, Chongqing Beer has focused on scenes such as festivals, sports, and cultural tourism, continuously strengthening the connection between brands and consumers.

Festival Marketing: During the Spring Festival, Chongqing Beer launched a series of marketing activities themed around “Carlsberg Qishun Year,” “Löwenbräu New Concept Spring Festival,” and “Wusu Rich People, Rich Luck.” Brands like Carlsberg and Fenghuaxueyue used AIGC technology to create visual designs for the Year of the Horse and interactive content like “Masho Has Flowers,” activating the Spring Festival consumer market. “1664” continued to target the ultra-high-end market, extending “Blue Moment” to new scenarios such as “Pet and Human Drinking,” exploring the integration of AIGC technology with festival content to enrich brand communication.

Carlsberg Year of the Horse Spring Festival Packaging

Sports Marketing: Chongqing Beer became the official strategic partner of the 2025 Chongqing City Football Super League, collaborating with player Yu Wang to evoke local resonance with the slogan “Chongqing Kids Drink Chongqing Beer,” and launched limited edition cans with players. In January 2026, it sponsored the Chongqing Marathon, promoting the brand message “Drink Chongqing in the Year of the Horse, Keep Moving Up.” Carlsberg leveraged Liverpool’s championship success to deepen its brand proposition “If You Pursue, Drink Carlsberg,” and partnered with the Guangdong Super League and Foshan La Liga to strengthen its association with football scenes.

Yuchao Scene

Cultural Tourism Marketing: Wusu capitalized on the popularity of Xinjiang tourism, leveraging its 40th anniversary to deepen the recognition of “Xinjiang DNA” and promote “Wusu + Barbecue” scenarios. Chongqing held beer festivals and city-themed activities in multiple locations, strengthening city cultural ties through brand ambassadors. Dali organized themed events around Water Splashing Festival and Torch Festival, key local festivals. Fenghuaxueyue focused on Yunnan cultural tourism and Oriental aesthetics, hosting activities like “Escape to the Grasslands,” and launched Yunnan intangible cultural heritage tie-dye limited cans.

Wusu Beer Event

Quality: Seven Employees Selected as National Beer Judges

Chongqing Beer continues to strengthen its tasting and quality management systems through systematic talent development and standardized management, promoting simultaneous improvements in product quality and R&D capabilities.

In 2025, seven employees were selected for the 8th National Beer Tasting Committee, with one recognized as Chief National Beer Taster. The company has been actively building its tasting talent system, conducting training and selection with the China Alcoholic Drinks Association for three consecutive years, training over 200 tasters across key positions in production, quality, craft, and R&D, providing professional support for product quality management, new product development, and process optimization.

2025 China International Beer Challenge Award-Winning Products

Product Quality: In the largest professional beer competition in Asia—the 2025 China International Beer Challenge—Chongqing Beer won 15 awards, making it the most awarded company for five consecutive years, with “Löwenbräu Pilsner” receiving the highest honor, the “Four-Star Tianlu Award.” At the 2025 World Beer Awards, Chongqing Beer’s 8 craft beers received four “China Country Winner” awards, four golds, two silvers, and two bronzes. Notably, “Brooklyn Lager,” “JingA Air Big Bang,” “JingA Berry 3,” and “JingA Hops Walk” each won “China Best” and gold medals.

ESG: Five Breweries Named “Green Factories” at the National Level

In 2025, Chongqing Beer advanced its ESG (Environmental, Social, and Corporate Governance) initiatives under the “Together Toward and Beyond Zero” plan, continuously improving ESG performance. It maintained an AA rating from the international authority MSCI, one of only two A-share listed food and beverage companies with the highest rating.

MSCI’s ESG AA Rating

Chongqing Beer’s ESG practices have been recognized widely. Recently, the Ministry of Industry and Information Technology announced the list of 2025 “National Green Factories,” including five of Chongqing Beer’s breweries: Carlsberg (China) Beer Industry & Trade Co., Ltd., Tianmuhu Brewery (Jiangsu) Co., Ltd., Xinjiang Wusu Brewery (Aksu) Co., Ltd., Xinjiang Wusu Brewery (Korla) Co., Ltd., and Xinjiang Wusu Brewery (Wusu) Co., Ltd.

The company also received awards such as Extel’s “Best ESG,” Fortune China’s “ESG Influence List,” China Listed Companies Association’s “Best Practice Cases in Sustainability,” China Alcoholic Drinks Association’s “2025 ESG Model Enterprise List,” and People’s Daily Online’s “2025 Corporate Social Responsibility Case.”

In March 2026, Carlsberg launched an upgraded ESG plan—“Brewing Tomorrow”—to align with its new strategic phase. Focused on “Carbon Reduction,” “Nature Conservation,” “Guided Choices,” and “Empowering Employees,” the plan emphasizes key issues affecting long-term corporate and social development, promoting responsible business practices and high-quality growth. As a member of the Carlsberg Group, Chongqing Beer will follow the “Brewing Tomorrow” ESG plan, working with stakeholders to implement related goals in China, supporting long-term stable operation and sustainable development, and fulfilling the corporate mission of “Brewing a Better Present and Future.”