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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Tsingtao Brewery Company Limited    600600   CNE0000009Y3

TSINGTAO BREWERY COMPANY LIMITED

(600600)
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Tsingtao Brewery 1Q Net Profit Fell 33.5% as Pandemic Hurt Sales

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04/29/2020 | 09:37pm EDT

By P.R. Venkat

Tsingtao Brewery Co. reported a 33.5% decline in its first-quarter net profit, as beer sales were severely impacted due to the Covid-19 pandemic.

Net profit was 537.18 million yuan ($75.91 million), while revenue fell 21% to CNY6.29 billion, the brewer said late Wednesday.

Tsingtao, one of China's largest brewer, said various consumption channels such as catering and night clubs were closed, which impacted sales volumes of its products in the Chinese market.

"Substantial decrease was seen in orders from overseas markets and exports as a result of the global pandemic," the company said.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
THE GLOBAL LTD. 1.40% 218 End-of-day quote.-53.72%
THE NEW HOME COMPANY INC. -0.30% 3.32 Delayed Quote.-28.54%
TSINGTAO BREWERY COMPANY LIMITED -3.31% 59.95 End-of-day quote.14.52%
TSINGTAO BREWERY COMPANY LIMITED 3.07% 79.63 End-of-day quote.56.14%
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Latest news on TSINGTAO BREWERY COMPANY L
06/15TSINGTAO BREWERY COMPANY LIMITED : Ex-dividend day for final dividend
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04/29Tsingtao Brewery 1Q Net Profit Fell 33.5% as Pandemic Hurt Sales
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02/27TSINGTAO BREWERY : Proposed amendments to the articles of association
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02/27TSINGTAO BREWERY : (1) proposed amendments to the articles of association (2) pr..
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02/27TSINGTAO BREWERY : Proxy form applicable at the 2020 first extraordinary general..
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Financials
Sales 2020 26 950 M 3 843 M 3 843 M
Net income 2020 1 817 M 259 M 259 M
Net cash 2020 16 282 M 2 322 M 2 322 M
P/E ratio 2020 45,7x
Yield 2020 0,91%
Capitalization 100 B 12 965 M 14 328 M
EV / Sales 2019
EV / Sales 2020 3,12x
Nbr of Employees 39 320
Free-Float 64,6%
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Technical analysis trends TSINGTAO BREWERY COMPANY L
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 49,43 CNY
Last Close Price 59,95 CNY
Spread / Highest target 14,1%
Spread / Average Target -17,5%
Spread / Lowest Target -45,3%
EPS Revisions
Managers
NameTitle
Ke Xing Huang Chairman
Gang Li Chairman-Supervisory Board
Zhu Ming Yu Chief Financial Officer & Executive Director
Li Hong Sun Member-Supervisory Board
Rui Yong Wang Executive Director & Vice President
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