Tsingtao Brewery Co Ltd Class H (HK:0168)
:0168
Top Page
Tsingtao Brewery Co
(0168)
Select Model
Select Model
Rating:74Outperform
Price Target:
HK$55.00
â–²(8.16% Upside)
Action:ReiteratedDate:03/29/26
The score is supported mainly by strong financial quality (especially the very low-debt balance sheet and positive free cash flow) and a shareholder-friendly valuation (reasonable P/E and high dividend yield). The main offset is weak technical positioning, with the stock trading below major moving averages and negative MACD.
Positive Factors
Conservative balance sheet
Near-zero leverage and consistent growth in equity and assets give durable financial flexibility. This conservatism supports investment, M&A optionality, dividend stability and resilience through demand cycles, reducing refinancing risk and preserving strategic choices over months to years.
Negative Factors
Top-line contraction
A multi-year revenue decline reduces scale economics and curbs organic growth potential. Sustained top-line weakness pressures gross profit and limits the firm's ability to expand distribution or fund marketing, increasing the need for strategic adjustments to restore volume or premium mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Near-zero leverage and consistent growth in equity and assets give durable financial flexibility. This conservatism supports investment, M&A optionality, dividend stability and resilience through demand cycles, reducing refinancing risk and preserving strategic choices over months to years.
Read all positive factors
Tsingtao Brewery Co (0168) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$83.92B
Dividend Yield4.69%
Average Volume (3M)2.67M
Price to Earnings (P/E)13.4
Beta (1Y)0.92
Revenue Growth1.51%
EPS Growth5.50%
CountryHK
Employees29,870
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)-0.57
Shares Outstanding655,069,150
10 Day Avg. Volume2,537,698
30 Day Avg. Volume2,674,522
Financial Highlights & Ratios
PEG Ratio4.73
Price to Book (P/B)1.95
Price to Sales (P/S)2.02
P/FCF Ratio21.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$60.50Price Target Upside18.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)3.53
Revenue Forecast (FY)HK$33.13B
Tsingtao Brewery Co Business Overview & Revenue Model
Company Description
Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the production, distribution, wholesale, and retail sale of beer products worldwide. It operates through seven segments: Shandong Region; South China Region; North China ...
How the Company Makes Money
Tsingtao Brewery primarily makes money by selling beer. Revenue is generated from (1) sales of its own branded beer products to distributors, wholesalers, retailers, and other channel partners, and (2) direct or semi-direct sales into certain on-t...
Tsingtao Brewery Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
77
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 29.52B | 32.14B | 33.94B | 32.17B | 30.17B |
| Gross Profit | 10.77B | 12.93B | 13.12B | 11.85B | 11.08B |
| EBITDA | 6.29B | 7.09B | 6.90B | 6.10B | 5.61B |
| Net Income | 4.47B | 4.34B | 4.27B | 3.71B | 3.16B |
Balance Sheet | |||||
| Total Assets | 52.68B | 51.42B | 49.26B | 50.31B | 46.56B |
| Cash, Cash Equivalents and Short-Term Investments | 19.24B | 20.00B | 24.79B | 20.54B | 17.38B |
| Total Debt | 240.16M | 68.24M | 63.39M | 373.08M | 406.99M |
| Total Liabilities | 18.18B | 21.56B | 21.00B | 24.04B | 22.77B |
| Stockholders Equity | 30.66B | 29.06B | 27.45B | 25.49B | 23.00B |
Cash Flow | |||||
| Free Cash Flow | 2.82B | 3.01B | 1.16B | 3.10B | 4.41B |
| Operating Cash Flow | 5.02B | 5.15B | 2.78B | 4.88B | 6.04B |
| Investing Cash Flow | -3.71B | -7.42B | -3.46B | -2.20B | -10.25B |
| Financing Cash Flow | -3.02B | -2.98B | -2.87B | -1.68B | -1.61B |
Tsingtao Brewery Co Technical Analysis
Positive
50.85
Price Trends
50.30
Positive
51.12
Negative
51.42
Negative
Market Momentum
-0.26
Negative
56.74
Neutral
82.08
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0168, the sentiment is Positive. The current price of 50.85 is above the 20-day moving average (MA) of 49.16, above the 50-day MA of 50.30, and below the 200-day MA of 51.42, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 56.74 is Neutral, neither overbought nor oversold. The STOCH value of 82.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0168.
Tsingtao Brewery Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$83.92B | 13.36 | 14.96% | 4.69% | 1.51% | 5.50% | |
68 Neutral | HK$85.06B | -8.03 | 1.45% | 3.42% | -0.31% | 10.85% | |
63 Neutral | HK$99.54B | 26.31 | 5.74% | 5.59% | -9.54% | -27.75% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
54 Neutral | HK$478.17M | 6.04 | 10.82% | 4.07% | 2.77% | -110.76% |
* Consumer Defensive Sector Average
HK:0168
Tsingtao Brewery Co
50.85
-1.81
-3.44%
HK:0291
China Resources Beer (Holdings) Co
26.22
-1.80
-6.43%
HK:1876
Budweiser Brewing Co. APAC Ltd.
7.55
-1.09
-12.62%
HK:0236
San Miguel Brewery HK Ltd.
1.28
0.61
91.04%
Tsingtao Brewery Co Corporate Events
Tsingtao Brewery Strengthens Balance Sheet in 2025 Preliminary Results
Mar 26, 2026
Tsingtao Brewery reported its preliminary consolidated results for 2025, showing total assets of RMB 52.13 billion, up slightly from RMB 51.42 billion a year earlier, with a solid base of cash, financial assets and fixed assets. Total liabilities ...
Tsingtao Brewery Announces Proposed Final Dividend for FY2025
Mar 26, 2026
Tsingtao Brewery Company Limited, a leading Chinese beer producer listed on the Hong Kong Stock Exchange under stock code 00168, manufactures and sells beer and related beverages in China and abroad. The company operates in the consumer staples se...
Tsingtao Brewery Sets March 2026 Board Meeting to Review 2025 Results and Final Dividend
Mar 12, 2026
Tsingtao Brewery Company Limited has scheduled a board meeting for 26 March 2026 to review and approve the annual results of the company and its subsidiaries for the financial year ended 31 December 2025. The board will also consider a proposal fo...
Tsingtao Brewery Renews Connected-Party Framework Deals With Controlling Shareholder for 2026
Jan 20, 2026
Tsingtao Brewery has renewed and expanded a series of annual framework agreements with its controlling shareholder Tsingtao Brewery Group and its subsidiaries for 2026, covering comprehensive services, entrusted production, product purchase and sa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.