Tsingtao Brewery Co., Ltd.
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- Hong Kong shares rise following advances on Wall Street Aug 16, 2019 See more articles on Tsingtao Brewery Co., Ltd.
Company Background
Tsingtao Brewery is China's second largest brewery after China Resources Enterprise in terms of sales. Its predecessor was founded in 1903 by the Anglo-German Brewery, which was established by German and British residents of Qingdao, Shandong Province. It has long been the top Chinese brewery along with Harbin Brewery Group.
As of the end of 2014, the company has about 60 production bases in 20 provinces and direct-controlled municipalities across China. Tsingtao Brewery now sells Tsingtao Beer in 90 countries and regions around the world, including the U.S., Japan and parts of Europe. Tsingtao Brewery became the first mainland Chinese company to be listed on an overseas exchange in 1993.
Tsingtao has a long-standing relationship with Japan. During the war, the company was under the umbrella of DaiNippon Beer, current Sapporo Breweries and Asahi Breweries. With some 19.99% stake in the company, Asahi Group Holdings provides technical assistance to the company and Asahi's plant in China produces Tsingtao beer as well as Asahi beer. Meanwhile, in 2013, the company set up 50-50 joint ventures with Suntory Holdings, one in production and one in sales, and integrated their business operations in Shanghai and neighboring Jiangsu Province. In 2015, Suntory decided to end the joint venture by selling its stakes to Tsingtao who continues producing Suntory beer under a licensing agreement.
Business Summary
Financial Highlights
| Dec 2019 | HKD | USD |
| Revenue | 29,108.13M | 3,715.04M |
| Gross Profit | 9,388.30M | 1,198.22M |
| Operating income | 1,804.88M | 230.35M |
| Income before tax | 3,068.06M | 391.57M |
| Net income | 2,100.13M | 268.03M |
| EBITDA | 3,092.35M | 394.67M |
| Diluted EPS | 1.55 | 0.19 |
| Dividends Per Share | 0.59 | 0.07 |
| Total Assets | 41,956.56M | 5,384.70M |
| Total liabilities | 16,446.01M | 2,110.68M |
| Total equity | 21,445.24M | 2,752.28M |
| Operating cash flow | 5,134.40M | 655.29M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 31,582.39M | 27,895.96M | 25,650.22M | 28,721.48M | 29,108.13M |
| Gross Profit | 10,262.53M | 9,679.11M | 7,256.08M | 8,733.53M | 9,388.30M |
| Operating income | 1,352.25M | 1,445.93M | 1,515.62M | 1,677.43M | 1,804.88M |
| Income before tax | 2,811.57M | 2,487.16M | 2,403.44M | 2,799.04M | 3,068.06M |
| Net income | 2,113.11M | 1,219.22M | 1,456.36M | 1,684.52M | 2,100.13M |
| EBITDA | 2,541.03M | 2,788.38M | 2,872.06M | 3,039.40M | 3,092.35M |
| Diluted EPS | 1.56 | 0.90 | 1.07 | 1.24 | 1.55 |
| Dividends Per Share | 0.46 | 0.40 | 0.51 | 0.54 | 0.59 |
| Total Assets | 34,035.78M | 33,571.87M | 37,209.37M | 38,903.85M | 41,956.56M |
| Total liabilities | 12,464.00M | 12,371.37M | 13,438.44M | 14,664.39M | 16,446.01M |
| Total equity | 19,642.79M | 18,200.52M | 20,581.90M | 20,492.75M | 21,445.24M |
| Operating cash flow | 3,670.51M | 3,941.40M | 2,635.10M | 5,305.63M | 5,134.40M |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 4,073.79M | 3,593.70M | 3,291.52M | 3,664.60M | 3,715.04M |
| Gross Profit | 1,323.75M | 1,246.91M | 931.12M | 1,114.31M | 1,198.22M |
| Operating income | 174.42M | 186.27M | 194.48M | 214.02M | 230.35M |
| Income before tax | 362.66M | 320.40M | 308.41M | 357.13M | 391.57M |
| Net income | 272.56M | 157.06M | 186.88M | 214.93M | 268.03M |
| EBITDA | 327.76M | 359.21M | 368.55M | 387.80M | 394.67M |
| Diluted EPS | 0.20 | 0.11 | 0.13 | 0.15 | 0.19 |
| Dividends Per Share | 0.05 | 0.05 | 0.06 | 0.06 | 0.07 |
| Total Assets | 4,391.62M | 4,330.09M | 4,759.87M | 4,968.97M | 5,384.70M |
| Total liabilities | 1,608.22M | 1,595.65M | 1,719.06M | 1,873.00M | 2,110.68M |
| Total equity | 2,534.50M | 2,347.50M | 2,632.86M | 2,617.42M | 2,752.28M |
| Operating cash flow | 473.45M | 507.75M | 338.14M | 676.95M | 655.29M |
Valuation Measures
| Dec 2019 | |
| PER | 33.67 |
| ROA | 5.19% |
| ROE | 10.01% |
| Operating margin | 6.20% |
| Profit margin | 7.21% |
Key executives
- Chief Financial Officer & Executive Director: Zhu Ming Yu
- Executive Director & Vice President: Rui Yong Wang
- Security Relations Contact: Xiao Hang Sun
- Secretary: Rui Xiang Zhang
Shareholders
- Fosun International Holdings Ltd. (26.8%)
- E Fund Management Co., Ltd. (8.0%)
- Qingdao State-Owned Assets Supervision & Administration (5.8%)
- Baillie Gifford & Co. (5.2%)
- Fidelity Management & Research Co. LLC (3.8%)
- T. Rowe Price International Ltd. (2.2%)
- The Vanguard Group, Inc. (2.1%)
- First State Investments (Hong Kong) Ltd. (1.5%)
- Macquarie Investment Management Business Trust (1.2%)
- BlackRock Fund Advisors (1.0%)
Contact Details
- Website:http://www.tsingtao.com.cn
- Address: Tsingtao Beer Tower, May Fourth Square, Qingdao, 266071, China
- Phone: +86.532.8571.3831
Related Companies
- Tsingtao Brewery (Minhang) Co., Ltd.
- Tsingtao Brewery (Yangpu) Co., Ltd.
- Tsingtao Brewery (Lianyungang) Co., Ltd.
- Tsingtao Brewery (Huai'an) Co., Ltd.
- Tsingtao Brewery (Kunshan) Co., Ltd.
- Tsingtao Brewery New Songjiang Manufacturing Co., Ltd.
- Tsingtao Brewery (Shanghai) Investing Co., Ltd.
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- Shandong Lulansa Brewery Co., Ltd.
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- Asia Brewery (Macau) Co., Ltd.
- Tsingtao Brewery Beverage Co., Ltd.
- Tsingtao Brewery Construction Co., Ltd.
- Tsingtao Brewery (Suizhou) Co., Ltd.
- Nanning Tsingtao Brewery Co., Ltd.
- Shanghai Tsingtao Catering Management Co., Ltd.
- Tsingtao Brewery (Zhangjiakou) Co., Ltd.
- Tsingtao Brewery (Shanghai) Industrial Co., Ltd.
- Tsingtao Brewery (Luoyang) Co., Ltd.
- Tsingtao Brewery (Xuzhou) Enterprise Mgmt Service Co., Ltd.
- Tsingtao Brewery (Jiujiang) Co., Ltd.
- Tsingtao Brewery (Electronic Commerce) Co., Ltd.
- Tsingtao Brewery (Shaoguan) Co., Ltd.
- Tsingtao Brewery (Taiyuan) Co., Ltd.
- Tsingtao Brewery (Shijiazhuang) Co., Ltd.
- Tsingtao Brewery Machinery & Equipment Co., Ltd.
- Tsingtao Brewery Chenzhou Sales Co., Ltd.
- Tsingtao Brewery Chengyang Sales Co., Ltd.
- Tsingtao Brewery (Yulin) Co., Ltd.
Competitors
- Carlsberg A/S Class B
- Anheuser-Busch InBev SA/NV
- Asahi Group Holdings,Ltd.
- San Miguel Food & Beverage, Inc.
- San Miguel Corp.
- Top Frontier Investment Holdings, Inc.
- Budweiser Brewing Co. APAC Ltd.
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Last Updated on 30 Oct, 2020
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