August 2 – Anhui Gujing Distillery (000596) plans to form a distillery with capacity of 10,000 tons for 372.34 million yuan, reports yicai.com, citing a company filing. The project will take 1.5 years to complete and is expected to make profits of 375.67 million yuan on revenues of 2.33 billion yuan.

The project will reportedly meet future demand for its high-end products. One analyst was quoted as saying some high-end distillery products need at to be aged at least five years while the period for most mid-end products is three years.

The Bozhou-based wine and liquor producer predicts net profits during the first half of 2011 grew 150 percent year-on-year to 268 million yuan.