Tsingtao Brewery Co Ltd Class H

00168: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$39.00	Dzdtp	Drzjtnqs

Tsingtao Brewery to Leverage Its Distribution Strength in Core Regions to Drive Mix Growth

Jacky Tsang

Oct 30, 2023

Business Strategy and Outlook

Tsingtao Brewery has over 100 years of history and is the second largest beer brewery by volume in China. With its roots in Shandong, the largest beer consumption province in China, Tsingtao has demonstrated the favorable economics of regional concentration, with production facilities achieving scale efficiencies through a dense distribution network. Shandong province alone contributed over 60% of Tsingtao Brewery’s revenue and net profit in 2022.

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