China: Tsingtao Brewery’s net profit up by 18.9 percent in 2020

Tsingtao Brewery said net profit increased by 18.9 percent to 2.2 billion yuan (HK$2.6 billion) last year, the Hong Kong Standard reported on March 29.

The mainland brewer declared a final dividend of 75 fen. Earnings per share were 1.63 yuan.

Revenue fell by 0.8 percent to 27.76 billion yuan.

Tsingtao said there is relatively large upside potential in the market in China and increasing consumption and profitability can be achieved through further improving capacity, upgrading of product structure, and price adjustment.

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