Tsingtao's revenue fell 4.5% year on year to CNY 28 billion in the first nine months of 2026, while operating profit declined 3% to CNY 6.9 billion. Shares were little changed following the results.
Tsingtao Brewery’s dominant market position and distribution strength in Shandong allow the company to maneuver on product mix.
Tsingtao lacks competitive international brands in its portfolio, which puts the company at a disadvantaged position against China Resources Beer, Budweiser APAC, and Chongqing Brewery in the premium segment.
Metric | 600600 | HEIA | 00291 |
|---|---|---|---|
Price/Earnings (Normalized) | 17.41 | 16.43 | 21.20 |
Price/Book Value | 2.17 | 2.45 | 1.64 |
Price/Sales | 2.27 | 1.56 | 1.57 |
Price/Cash Flow | 13.43 | 9.71 | 8.04 |
Metric | 600600 | HEIA | 00291 |
|---|---|---|---|
Quick Ratio | 1.34 | 0.51 | 0.68 |
Current Ratio | 1.68 | 0.75 | 0.97 |
Interest Coverage | 348.19 | 5.67 | 47.82 |
Metric | 600600 | HEIA | 00291 |
|---|---|---|---|
Return on Assets (Normalized) | 7.24% | 5.06% | 7.04% |
Return on Equity (Normalized) | 12.13% | 15.07% | 14.52% |
Return on Invested Capital (Normalized) | 11.06% | 7.96% | 12.07% |
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