Tsingtao Brewery Co Class H ( (TSGTF) ) has realeased its Q3 earnings. Here is a breakdown of the information Tsingtao Brewery Co Class H presented to its investors.
Tsingtao Brewery Co., a prominent player in the Chinese beer industry, is known for its iconic Tsingtao Beer brand and focuses on producing a variety of beer products. The company operates in the consumer goods sector, emphasizing product innovation and market expansion.
In their latest earnings report for the third quarter of 2024, Tsingtao Brewery Co. presented a mixed financial performance amid challenging market conditions. The company experienced a decline in quarterly revenue by 5.28% compared to the same period last year, with total revenues reaching RMB 8.89 billion. However, on a positive note, the net profit attributable to shareholders saw a slight year-on-year increase of 1.67%, amounting to RMB 4.99 billion.
The report highlighted several key metrics, including a 6.52% decrease in revenue from the beginning of the year, reaching RMB 28.96 billion. The net profit after deducting non-recurring profit or loss showed a modest increase of 1.96%, as the company continued to adjust its product mix and focused on high-end market segments. The sales volume for Tsingtao Beer and mid-to-high-end products demonstrated resilience, contributing to an overall growth in operating revenue per kiloliter of beer by 0.49% year-on-year.
Despite the current market challenges, Tsingtao Brewery’s management remains focused on strategic initiatives aimed at product innovation and market development. The company plans to enhance its market presence through increased marketing efforts and the introduction of new product offerings. Looking ahead, Tsingtao Brewery aims to strengthen its position in the beer industry while navigating the evolving consumer landscape.
