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Huarun, the largest beer producer in China, said on Wednesday that it will look for opportunities to cooperate and merge to promote the development strategy of high-end beer products, 0291.HK.
Huarun CEO Hou Xiaohai on the company's acquisition strategy, made the remarks on the results of the conference, but did not disclose whether the company is to purchase HeineKen beer (Heineken/ Heineken) (HEIN.AS) Chinese business.
Reuters has previously reported that Huarun is seeking new growth of high-end brand beer, and is negotiating on HeineKen's HeineKen business in China. The transaction value may exceed 1 billion dollars.
Huarun announced its annual pre tax profit growth of 4.4%, benefiting from the increase of beer sales and average selling price. The company focused on the high-end beer business with high profit margins, which is also a reason for its profit growth.

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