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    600600   CNE0000009Y3

TSINGTAO BREWERY COMPANY LIMITED

(600600)
  Report
End-of-day quote Shanghai Stock Exchange  -  2022-11-28
100.61 CNY   +5.67%
10/27Tsingtao Brewery Shares Fall on 3Q Earnings
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10/26Tsingtao Brewery's Q3 Net Profit Rises 18%; Shares Slip 4%
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10/26Tsingtao Brewery's 3Q Net Profit Rose Amid Higher Product Sales
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China's Fosun further cuts stakes in listed firms amid debt concerns

09/19/2022 | 10:03pm EST
Company logo of Fosun International is seen at the Fosun Fair held alongside the annual general meeting in Hong Kong

SHANGHAI (Reuters) - Chinese conglomerate Fosun International recently cut its stake in New China Life Insurance and a Fosun unit reduced holdings in Shanghai Yuyuan Tourist Mart Group, exchange filings showed late Monday.

Fosun raised roughly 696 million yuan ($99.36 million) through the share reductions, based on company statements and Reuters calculation.

The disclosure follows a series of stake reductions and sales by Fosun, and comes amid market concerns over Fosun's financial health.

New China Life said in a statement that Fosun on Sept. 15 offloaded 26.2 million Hong Kong-traded H-shares of the company, or 0.84% of total shares.

Yuyuan Tourist Mart said in a separate statement that a Fosun unit, which is also its controlling shareholder, reduced 38.9 million shares of the company, or 1% of total shares, between Aug. 26 and Sept. 19.

Fosun, controlled by billionaire founder Guo Guangchang, said last week that media reports saying Chinese regulators have told the country's biggest banks to start a round of checks on their financial exposure to the Chinese conglomerate were false.

Fosun owns resorts brand Club Med and controls French fashion house Lanvin among other assets, and was once one of China's most acquisitive dealmakers.

The company has so far this year agreed to sell its 4.89% stake in Tsingtao Brewery Co Ltd and is also reducing its stake in Fosun Tourism.

($1 = 7.0050 Chinese yuan renminbi)

(Reporting by Shanghai newsroom; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA LIFE INSURANCE COMPANY LIMITED 8.18% 11.64 Delayed Quote.-16.72%
FOSUN INTERNATIONAL LIMITED 5.06% 5.81 Delayed Quote.-34.24%
FOSUN TOURISM GROUP 8.02% 8.35 Delayed Quote.-26.24%
NEW CHINA LIFE INSURANCE COMPANY LTD. 6.19% 28.84 End-of-day quote.-25.82%
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD. 3.39% 7.31 End-of-day quote.-29.03%
TSINGTAO BREWERY COMPANY LIMITED 5.67% 100.61 End-of-day quote.1.63%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -1.45% 7.13955 Delayed Quote.13.98%
All news about TSINGTAO BREWERY COMPANY LIMITED
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Analyst Recommendations on TSINGTAO BREWERY COMPANY LIMITED
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Financials
Sales 2022 32 402 M 4 527 M 4 527 M
Net income 2022 3 377 M 472 M 472 M
Net cash 2022 15 905 M 2 222 M 2 222 M
P/E ratio 2022 26,0x
Yield 2022 1,80%
Capitalization 114 B 15 873 M 15 873 M
EV / Sales 2022 3,02x
EV / Sales 2023 2,77x
Nbr of Employees 32 947
Free-Float 67,4%
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Number of Analysts 25
Last Close Price 64,52 CNY
Average target price 76,98 CNY
Spread / Average Target 19,3%
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Zong Xiang Jiang President & Executive Director
Qiu Yan Hou Chief Financial Officer & Executive Director
Ke Xing Huang Vice President
Yan Li Chairman-Supervisory Board
Ya Ping Wang Independent Member-Supervisory Board
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