China Resources Beer (Holdings) Company Limited (CR Beer), the Hong Kong-listed brewer of Snow, has announced a significant management reshuffle effective October 10, 2025, marking a new phase in its premiumization and efficiency strategy.
Jin Hanquan has been appointed as executive director and president, succeeding Zhao Chunwu, who remains chairman of the board after taking over from Hou Xiaohai in June, when the latter resigned to focus on personal engagements. Jin will also serve on the company’s executive, finance, and stock option general affairs committees.
Jin, 47, joined CR Beer in 2022 as Secretary of the Discipline Inspection Commission. He began his career at China Resources (Holdings) Company Limited in 2012, where he worked as Deputy Senior Auditor and later as Director of Audit Professionals until 2020.
Yang Hongxia, 47, has been appointed as Chief Financial Officer, succeeding Zhao Wei, who stepped down in September. Yang previously served as CFO of China Resources Vanguard and holds certifications as a public accountant and intermediate accountant.
Li Nan, 45, was named non-executive director. He currently serves as vice president of China Resources Enterprise Co., Ltd., the indirect parent company of CR Beer, and as external director of China Resources Modern Services (Shenzhen) Co., Ltd.. In addition, Li joined the board of Oatly in July 2025.
For the first half of 2025, CR Beer reported unaudited consolidated turnover of 23.94 billion CNY (3.36 billion USD), up 0.8 % year on year. The group’s gross profit margin reached a record 48.9 %, driven by ongoing premiumization of its beer portfolio and raw material cost savings. Operating profit (EBIT) rose 20.8 % to 7.69 billion CNY, and net profit attributable to shareholders grew 23 % to 5.79 billion CNY. Beer sales volume increased 2.2 % to approximately 6.48 million kiloliters, generating 23.16 billion CNY in revenue, up 2.6 % year on year.
The appointments of Jin, Yang, and Li—all experienced executives from within the China Resources Group—are seen as part of a broader effort to strengthen internal governance, continuity, and financial discipline as the company consolidates its leadership position in China’s competitive beer market.
