Tsingtao Brewery Co., Ltd.

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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

Tsingtao Brewery Co., Ltd. engages in the manufacture and sale of beer and related products. It operates through the following business segments: Shandong; South China; North China; East China; Southeast; Hong Kong, Macau, and overseas; and Finance. The Shandong segment engages in the production and sale of beer in Shandong and surrounding areas. The South China, North China, East China, and Southeast segments engage in the production and sale of beer in the respective areas. The Hong Kong, Macau, and overseas segment engages in the sale of beer in Hong Kong, Macau, and overseas. The Finance segment handles the financial management and financial transactions such as payment and collection of member units. The company offer the verities of beer include Great ocean beer, Huiquan beer, Tsingtao draft beer, Tsingtao dark beer, Tsingtao beer premium and Tsingtao beer. Tsingtao Brewery was founded in August 1903 and is headquartered in Qingdao, China.

Financial Highlights

Dec 2020	HKD	USD
Revenue	28,699.84M	3,700.34M
Gross Profit	9,742.41M	1,256.11M
Operating income	2,604.19M	335.76M
Income before tax	3,619.92M	466.72M
Net income	2,473.61M	318.92M
EBITDA	3,908.35M	503.91M
Diluted EPS	1.83	0.23
Dividends Per Share	0.90	0.11
Total Assets	49,472.86M	6,380.42M
Total liabilities	20,152.31M	2,599.00M
Total equity	24,450.22M	3,153.30M
Operating cash flow	5,987.57M	771.99M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	27,895.96M	25,650.22M	28,721.48M	29,108.13M	28,699.84M
Gross Profit	9,679.11M	7,256.08M	8,733.53M	9,388.30M	9,742.41M
Operating income	1,445.93M	1,515.62M	1,677.43M	1,804.88M	2,604.19M
Income before tax	2,487.16M	2,403.44M	2,799.04M	3,068.06M	3,619.92M
Net income	1,219.22M	1,456.36M	1,684.52M	2,100.13M	2,473.61M
EBITDA	2,788.38M	2,872.06M	3,039.40M	3,092.35M	3,908.35M
Diluted EPS	0.90	1.07	1.24	1.55	1.83
Dividends Per Share	0.40	0.51	0.54	0.59	0.90
Total Assets	33,571.87M	37,209.37M	38,903.85M	41,847.01M	49,472.86M
Total liabilities	12,371.37M	13,438.44M	14,664.39M	16,336.46M	20,152.31M
Total equity	18,200.52M	20,581.90M	20,492.75M	21,445.24M	24,450.22M
Operating cash flow	3,941.40M	2,635.10M	5,305.63M	5,134.40M	5,987.57M

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	3,593.70M	3,291.52M	3,664.60M	3,715.04M	3,700.34M
Gross Profit	1,246.91M	931.12M	1,114.31M	1,198.22M	1,256.11M
Operating income	186.27M	194.48M	214.02M	230.35M	335.76M
Income before tax	320.40M	308.41M	357.13M	391.57M	466.72M
Net income	157.06M	186.88M	214.93M	268.03M	318.92M
EBITDA	359.21M	368.55M	387.80M	394.67M	503.91M
Diluted EPS	0.11	0.13	0.15	0.19	0.23
Dividends Per Share	0.05	0.06	0.06	0.07	0.11
Total Assets	4,330.09M	4,759.87M	4,968.97M	5,370.64M	6,380.42M
Total liabilities	1,595.65M	1,719.06M	1,873.00M	2,096.62M	2,599.00M
Total equity	2,347.50M	2,632.86M	2,617.42M	2,752.28M	3,153.30M
Operating cash flow	507.75M	338.14M	676.95M	655.29M	771.99M

Valuation Measures

Dec 2020
PER	44.34
ROA	5.41%
ROE	10.77%
Operating margin	9.07%
Profit margin	8.61%

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. (16.3%)
Baillie Gifford & Co. (5.2%)
E Fund Management Co., Ltd. (4.8%)
Fidelity Management & Research Co. LLC (3.8%)
China Universal Asset Management Co., Ltd. (3.4%)
Morgan Stanley Asia Ltd. (Investment Management) (3.3%)
Fullgoal Fund Management Co., Ltd. (2.9%)
The Vanguard Group, Inc. (2.1%)
BlackRock Fund Advisors (1.3%)
ICBC Credit Suisse Asset Management Co., Ltd. (1.2%)

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.
Tsingtao Brewery Equipment Manufacture Co., Ltd.
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

Anheuser-Busch InBev SA/NV
Asahi Group Holdings,Ltd.
San Miguel Food & Beverage, Inc.
San Miguel Corp.
Top Frontier Investment Holdings, Inc.

Last Updated on 22 Oct, 2021

Tsingtao Brewery Co., Ltd.

In the news

Company Background

Business Summary

Financial Highlights

Historical Data

Valuation Measures

Key executives

Shareholders

Contact Details

Related Companies

Competitors

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