1. People's Republic of China Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Alcoholic
Tsingtao Brewery Company Limited

Tsingtao Brewery Company Limited

0168.HK
Tsingtao Brewery Company LimitedHK flagHong Kong Stock Exchange
43.60
HKD
+0.48
- -
71.58BMarket Cap
Tsingtao Brewery Company Limited
0168.HK
(Hong Kong Stock Exchange)

Recent

price

43.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
14.72
17.14
19.08
20.95
21.5
20.45
19.31
19.45
19.68
20.71
20.54
22.26
23.72
24.96
23.6
23.8
17.18
Revenue per Share
1.13
1.29
1.3
1.46
1.47
1.27
0.77
0.93
1.05
1.37
1.63
2.33
2.74
3.14
3.19
3.36
2.42
Basic EPS, GAAP
1.61
-0.42
0.54
1.01
-0.19
0.93
1.56
1.05
2.39
2.12
2.71
3.25
2.28
0.85
2.21
1.71
-1.29
Free Cash Flow per Basic Share
0.17
0.2
0.28
0.42
0.46
0.46
0.4
0.35
0.44
0.49
0.55
0.77
1.11
1.82
2.01
2.19
1.14
Dividend per Share
3.62
4.64
5.59
6.5
7.41
8.07
8.42
9
9.6
10.47
11.53
13.05
14.67
15.96
17.12
18.25
19.57
Book Value per Share
6.12
5.78
6.78
7.6
8.29
8.99
9.32
10.14
10.95
11.88
12.99
14.76
16.52
17.99
19
20.24
21.56
Tangible Book Value per Share
1,352
1,351
1,351
1,351
1,351
1,351
1,352
1,351
1,351
1,351
1,351
1,355
1,356
1,360
1,362
1,364
1,365
Basic Weighted Avg Shares
19,898
23,158
25,782
28,291
29,049
27,635
26,106
26,277
26,575
27,984
27,760
30,167
32,172
33,937
32,138
32,473
23,438
Sales/Revenue/Turnover
10.07
9.15
7.55
6.62
6.62
3.96
4.75
6.64
7.3
7.82
10.21
11.58
13.27
14.13
15.52
17.07
16.69
Operating Margin (%)
556
694
839
879
922
950
1,133
1,161
1,138
1,125
1,145
1,110
1,084
1,140
1,191
1,259
- -
Depreciation Expense
1,520
1,738
1,759
1,973
1,990
1,713
1,043
1,263
1,422
1,852
2,201
3,155
3,711
4,268
4,345
4,588
3,308
Net Income, GAAP
25.38
26.77
25.74
25.94
24.73
29.14
47.93
34.33
34.4
29.26
28.17
27.3
24
24.33
23.63
25.01
25.2
Effective Tax Rate (%)
7.64
7.5
6.82
6.98
6.85
6.2
4
4.81
5.35
6.62
7.93
10.46
11.53
12.58
13.52
14.13
14.11
Profit Margin (%)
3,879
2,427
2,806
1,161
1,124
2,134
2,325
3,621
5,654
7,648
9,118
10,700
12,331
12,693
7,667
7,603
11,141
Working Capital
1,275
1,789
1,862
5
3
2
1
1
41
38
116
113
98
63
68
78
74
LT Debt
9,720
11,277
12,783
13,873
15,287
16,166
16,879
17,775
18,690
19,913
21,368
23,794
26,272
28,255
29,860
31,512
33,286
Total Equity
13.8
12.39
10.15
9
9.13
4.73
3.75
6.42
6.73
7.74
9.49
10.75
12.51
13.04
12.98
13.36
8.8
Return on Invested Capital (%)
25.86
23.51
19.16
19.92
18.78
16.73
8.35
9.09
9.53
12.21
12.9
17.05
18.18
19.24
18
17.83
12.1
Return on Capital (%)
35.56
31.16
25.45
24.17
21.18
16.38
9.37
10.74
11.32
13.66
14.81
18.97
19.75
20.52
19.31
19.03
12.79
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
37
30
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
78
74
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
1,364
1,364
Market Capitalization
66,121
59,710
58,209

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
24,204
26,929
Cash, Cash Equivalents & STI
- -
19,088
22,966
Accounts Receivable, Net
- -
127
127
Inventories
- -
3,237
2,334
Total Current Liabilities
- -
16,601
15,788
Payables & Accruals
- -
- -
- -
ST Debt
- -
37
30
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.92%
8.11%
5.53%
Free Cash Flow
24.41%
13.13%
-22.38%
Net Income, GAAP
12.7%
16.67%
5.6%
Sales/Revenue/Turnover
1.73%
3.31%
1.04%
Total Cash Common Dividend
19.21%
33.71%
8.98%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,150
9,918
8,891
3,179
32,138
2025
10,446
10,046
- -
3,107
32,473
2026
10,285
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.17
- -
- -
- -
3.19
2025
1.25
- -
- -
- -
3.36
2026
1.32
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.01
2025
- -
- -
- -
- -
2.19
2026
- -
- -
- -
- -
- -
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Business
Tsingtao Brewery Company Limited Tsingtao Brewery Company Limited engages in the production, distribution, wholesale, and retail sale of beer products primarily in Mainland China, with operations extending to Hong Kong, Macau, and international markets. The company offers a diverse portfolio of beer brands including its flagship Tsingtao Beer, a well-hopped pale lager, alongside Tsingtao Premium, Tsingtao Stout, Tsingtao Light Beer, Tsingtao Soft Beer, Tsingtao Dragon and Phoenix, Laoshan Beer, and Hans Brewery; it also provides ancillary services such as wealth management, agency collection, real estate, software and IT, payment, financing, construction, logistics, and technology promotion. Tsingtao Brewery operates through seven segments: Shandong Region, South China Region, North China Region, East China Region, Southeast China Region, Hong Kong, Macau and Other Overseas Regions, and Finance Company. Founded in 1903 and headquartered in Qingdao, China, the company maintains production facilities across China with an annual capacity of approximately 16 million hectoliters. In a major strategic expansion, Tsingtao Brewery acquired Jimo Yellow Wine, a grain-based huangjiu producer under the Jimo Laojiu brand, for CNY665 million (US$92 million) in 2025 to diversify beyond beer into traditional Chinese alcoholic beverages, complementing seasonal sales patterns and enriching its product lineup.