Tsingtao Brewery Achieves Strong Performance in First Half of 2023
Tsingtao Brewery, also known as Tsingtao Brewery Co., Ltd. (Stock Code: 600600), has released its semi-annual report for the year 2023, showcasing impressive growth in various areas. The report highlights the company’s commitment to high-quality development and its efforts in innovation-driven and digital transformation.
In the first half of 2023, Tsingtao Brewery recorded a cumulative product sales volume of 5.023 million kiloliters, representing a year-on-year increase of 6.5%. The company also achieved a total operating income of RMB 21.59 billion, a year-on-year increase of 12.0%. Moreover, the net profit attributable to shareholders of listed companies reached RMB 3.43 billion, indicating a 20.1% year-on-year growth.
Tsingtao Brewery’s outstanding performance can be attributed to its focus on market development, technological innovation, digital transformation, brand promotion, and product structure optimization. The company takes advantage of its brand reputation, quality, production base, and channel network to drive high-end, intelligent, and green development.
Throughout the reporting period, Tsingtao Brewery has solidified its market foundation by strengthening the construction of base strategic belts and promoting the integrated development of regional markets. The company has also seized the opportunity of market channel restoration and consumption recovery, resulting in a steady increase in market share.
The main brand of Tsingtao Brewery achieved a total product sales volume of 2.812 million kiloliters, with mid-to-high-end products contributing to an 8.2% year-on-year increase. The company’s marketing activities in conjunction with Tsingtao Brewery’s 120th birthday have further improved product structure and profitability.
Tsingtao Brewery has also focused on brand optimization, creating an immersive brand experience model and enhancing the brand’s influence power and competitiveness. By launching new products and reshaping the image of Tsingtao pure draft beer, the company has consolidated and enhanced the competitive advantage of its mid-to-high-end products.
In terms of research and development, Tsingtao Brewery has accelerated its “Charm Quality Improvement Project” and introduced new products that lead the industry’s consumption trend. Notable additions include 1-liter fine puree and crystal pure raw high-end fresh products. Leveraging its intelligent supply chain system, the company ensures rapid response, cold chain distribution, and fresh direct delivery to meet the increasing demand for high-end draft beer products.
In line with its digital and intelligent transformation, Tsingtao Brewery has promoted the digital application of its entire supply chain and channel field. Through the establishment of a full-chain smart supply chain system, the company has improved channel operation capability and efficiency, driving the development from local to global.
As Tsingtao Brewery celebrates its 120th anniversary, the company shows its determination to become a world-class enterprise by implementing the “120th Restart” strategy. By strengthening and optimizing its beer operations through strategic measures, Tsingtao Brewery aims to enhance its market competitiveness and accelerate high-quality development.
Investors are encouraged to read the full text of the company’s semi-annual report on the website www.sse.com.cn for a comprehensive understanding of Tsingtao Brewery’s operating results, financial status, and future development plans.
Disclaimer: This news article is based on the content of Tsingtao Brewery’s semi-annual report. It is important for investors to refer to the original source for accurate information.