China Resources Beer's net profit for the first half of the year hit a new high as the brewer's business strategy continued to bear fruit.

Net profit climbed 23% to a record 5.79 billion yuan, equivalent to $805.9 million, as revenue rose 0.8% to 23.94 billion yuan, the Chinese beer maker said Tuesday.

Sales from the beer business was 23.16 billion yuan, up 2.6% from a year earlier, as its premium products continued to perform strongly. The Chinese brewer said its premiumization push drove average selling prices for beer products 0.4% higher, while lower raw-material costs boosted the division's gross profit margin by 2.5 percentage points to 48.3% in the first half.

Sales from the baijiu business fell by about a third, with the turnover coming in at 781 million yuan, supported by its premium Zhaiyao product. The segment's gross profit margin was stable despite an industry-wide restructuring, it said.

To manage short-term fluctuations in the industry, the company said it plans to implement price changes and more stringent cost controls in its baijiu division.

China Resources Beer said it will continue to monitor emerging consumption trends and respond to evolving consumer demands. The group also "aims to strengthen its competitive position and lead industry development" through its marketing models and product concepts, it said.

The company declared an interim dividend of 0.464 yuan, up from 0.373 yuan a year ago.