30 April, 2024

China: Tsingtao Brewery toasts increase in Q1 2024 net profit

China’s Tsingtao Brewery has released the 2024 first quarterly report in accordance with the China Accounting Standards of Business Enterprises.

The company realized operating revenue of RMB10.15 billion, down 5.2% year-on-year.

Net profit attributable to shareholders amounted to RMB1.597 billion, an increase of 10.1%, with an EPS of RMB1.175.

In the first quarter of 2024, Tsingtao sold a total of 2.184 million kilolitres of products, of which the sales volume of the core brand, Tsingtao Beer, reached 1.322 million kilolitres.

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