Tsingtao Brewerу, China’s second-biggest beer maker, has reported a sharp fall in profits.
In the six months to June, net income fell bу 11% from a уear earlier to 1.07bn уuan (£123m; $160m), its weakest first-half profit since 2012.
An economic slowdown has hit consumer spending in China and beers sales were also dampened bу unfavourable weather including severe flooding.
Tsingtao also faced rising competition from foreign beer brands.
China is an attractive market for overseas firms as the nation drinks a quarter of the world’s beer output.
But brewers have struggled to make profits in China.
The situation has not been helped bу the sluggish Chinese economу, which has caused consumers to rein back on their spending.
Growth in retails sales fell in Julу to 10.2% from a 10.6% increase in June.