Tsingtao Brewery Co Ltd Class A

600600: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tsingtao Brewery Earnings: Off to a Decent Start With Margin Expansion; Retain Valuation

Jacky Tsang

Apr 28, 2026

Tsingtao Brewery's revenue dropped 2% year on year but net income rose by 5%, thanks to gross margin expansion as the higher-margin Tsingtao core brand gained a larger share of the mix, offsetting a steep decline in low-end Laoshan sales volume.

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Tsingtao Brewery Co Ltd Class A

Tsingtao Brewery Earnings: Off to a Decent Start With Margin Expansion; Retain Valuation

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