Consumer Non-Durables
Tsingtao Brewery Co., Ltd.
- 51.95 HKD
- -0.20
- -0.38%
China
Aug 21, 2019Ticker
HKG(168)Prev. close
52.15Market cap (HKD)
74,021.44MMarket cap (USD)
9,437.29MShares
1,350.98M
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- Brewer Asahi tackles debt pile ahead of fresh M&A May 24, 2018 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 2018 | HKD | USD |
| Revenue | 28,721.48M | 3,664.60M |
| Gross Profit | 8,733.53M | 1,114.31M |
| Operating income | 1,677.43M | 214.02M |
| Income before tax | 2,799.04M | 357.13M |
| Net income | 1,684.52M | 214.93M |
| EBITDA | 3,039.40M | 387.80M |
| Diluted EPS | 1.24 | 0.15 |
| Dividends Per Share | 0.54 | 0.06 |
| Total Assets | 38,903.85M | 4,968.97M |
| Total liabilities | 14,664.39M | 1,873.00M |
| Total equity | 20,492.75M | 2,617.42M |
| Operating cash flow | 5,305.63M | 676.95M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 33,812.53M | 31,582.39M | 27,895.96M | 25,650.22M | 28,721.48M |
| Gross Profit | 11,172.82M | 10,262.53M | 9,679.11M | 7,256.08M | 8,733.53M |
| Operating income | 2,425.64M | 1,352.25M | 1,445.93M | 1,515.62M | 1,677.43M |
| Income before tax | 3,346.62M | 2,811.57M | 2,487.16M | 2,403.44M | 2,799.04M |
| Net income | 2,504.59M | 2,113.11M | 1,219.22M | 1,456.36M | 1,684.52M |
| EBITDA | 3,600.00M | 2,541.03M | 2,788.38M | 2,872.06M | 3,039.40M |
| Diluted EPS | 1.85 | 1.56 | 0.90 | 1.07 | 1.24 |
| Dividends Per Share | 0.57 | 0.46 | 0.40 | 0.51 | 0.54 |
| Total Assets | 33,754.23M | 34,035.78M | 33,571.87M | 37,209.37M | 38,903.85M |
| Total liabilities | 12,350.60M | 12,464.00M | 12,371.37M | 13,438.44M | 14,664.39M |
| Total equity | 19,234.08M | 19,642.79M | 18,200.52M | 20,581.90M | 20,492.75M |
| Operating cash flow | 2,673.72M | 3,670.51M | 3,941.40M | 2,635.10M | 5,305.63M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 4,360.27M | 4,073.79M | 3,593.70M | 3,291.52M | 3,664.60M |
| Gross Profit | 1,440.78M | 1,323.75M | 1,246.91M | 931.12M | 1,114.31M |
| Operating income | 312.79M | 174.42M | 186.27M | 194.48M | 214.02M |
| Income before tax | 431.56M | 362.66M | 320.40M | 308.41M | 357.13M |
| Net income | 322.97M | 272.56M | 157.06M | 186.88M | 214.93M |
| EBITDA | 464.23M | 327.76M | 359.21M | 368.55M | 387.80M |
| Diluted EPS | 0.23 | 0.20 | 0.11 | 0.13 | 0.15 |
| Dividends Per Share | 0.07 | 0.05 | 0.05 | 0.06 | 0.06 |
| Total Assets | 4,352.66M | 4,391.62M | 4,330.09M | 4,759.87M | 4,968.97M |
| Total liabilities | 1,592.62M | 1,608.22M | 1,595.65M | 1,719.06M | 1,873.00M |
| Total equity | 2,480.26M | 2,534.50M | 2,347.50M | 2,632.86M | 2,617.42M |
| Operating cash flow | 344.78M | 473.45M | 507.75M | 338.14M | 676.95M |
Valuation Measures
| Dec 2018 | |
| PER | 25.34 |
| ROA | 4.42% |
| ROE | 8.20% |
| Operating margin | 5.84% |
| Profit margin | 5.86% |
Key executives
- President, Executive Director & Chief Winemaker: Wei Fan
- 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. (37.1%)
- Baillie Gifford & Co. (9.0%)
- Qingdao State-Owned Assets Supervision & Administration (5.8%)
- Macquarie Investment Management Business Trust (2.1%)
- T. Rowe Price International Ltd. (1.8%)
- The Vanguard Group, Inc. (1.8%)
- First State Investments (Hong Kong) Ltd. (1.7%)
- Fidelity Management & Research Co. (1.7%)
- BlackRock Fund Advisors (1.2%)
- Wells Capital Management, Inc. (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.
- Tsingtao Brewery (Lianyungang) Sales Co., Ltd.
- Tsingtao Brewery (Shanghai) Market Service Co., Ltd.
- 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
- China Resources Beer (Holdings) Co. Ltd.
- 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.
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Last Updated on 21 Aug, 2019