Tsingtao Brewery Co Ltd Class A

600600: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tsingtao Earnings: Input Costs Tailwind Drives Results; Cut Fair Value 5% on Weaker Growth Outlook

Jacky Tsang

Mar 30, 2026

Tsingtao Brewery’s 2025 net profit rose 6% year on year to CNY 4.59 billion, primarily driven by favorable input costs and disciplined cost-control initiatives. However, revenue remained stagnant due to weak demand in on-trade channels.

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Tsingtao Brewery Co Ltd Class A

Tsingtao Earnings: Input Costs Tailwind Drives Results; Cut Fair Value 5% on Weaker Growth Outlook

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