Jianhu Brewing to Enlarge its Capital Base

Guyuelongshan Shaoxing Wine Co., Ltd. (SHSE: 600059), a liquor and wine maker in China, is seeking to nudge total registered capital of Jianhu Brewery Co., Ltd. to CNY 20 million from CNY 1 million, citing its latest statement. 
Jianhu Brewery will be renamed as Jianhu Brewing Company Limited after the capital injection. Guyuelongshan's shareholding in the company will remain unchanged.

There is no doubt that the capital injection will further boost up the competitive edge of Jianhu Brewing, improve its brand recognition, and ensure its sustainable development, according to the Shanghai-listed company.

Jianhu Brewing, founded in 1986, is specialized in brewing yellow wine, spirit and bottled wine. By December 31, 2008, the company had had total assets of CNY 77.92 million, including net assets of CNY 20.99 million. It ended 2008 with CNY 34.79 million in sales. It recorded CNY 74,900 in net profits last year.