Tsingtao Brewery Co., China's second-largest brewer by volume, said that its first-half profits rose 21.62% year-on-year due to higher sales volume and expanded production capacity.
Net profits rose to 989.9M Yuan (US$155M), or 0.73 Yuan/share, from 813.9M Yuan, 0.6Yuan, one year earlier.
Sales climbed 21.1% to 11.87billion Yuan. The company sold 3.75M kilolitres of beer during the first half, a rise of 20.6% year-on-year.
The brewer increased its production capacity and introduced diversified products to cater to growing demand in the world's most populous country.
The company aims for annual beer sales of 10M kilolitres in 2014.
However the company said exchange rate fluctuations are likely to affect its margins as it relies on imported barley to brew beer.
The countries beer output increased 11.4% from one year earlier to 23.5M kilolitres during the first half, according to data from the National Bureau of Statistics.
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