Want to see HK:0168 full AI Analyst Report?
Top Page
Tsingtao Brewery Co
(0168)
Select Model
Select Model
Rating:69Neutral
Price Target:
HK$47.00
▲(13.58% Upside)
Action:Downgraded
Date:08/27/26
The score is supported primarily by strong financial quality—high profitability and an exceptionally low-leverage balance sheet—plus a favorable income profile from the ~6.3% dividend yield and a reasonable ~15x P/E. These positives are tempered by weak price momentum (below major moving averages with negative MACD) and softer recent growth/cash-flow trends (revenue contraction and declining FCF growth).
Positive Factors
Strong Profitability
High gross, operating, and net margins indicate durable earnings power and provide a buffer against input-cost or channel pressure. The stronger TTM margins suggest profitability remains supported even as revenue growth softens.
Negative Factors
Revenue Contraction
Recent revenue contraction points to pressure on volumes, pricing, or product mix. If sustained, weaker top-line expansion could limit operating leverage and make continued margin strength more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
High gross, operating, and net margins indicate durable earnings power and provide a buffer against input-cost or channel pressure. The stronger TTM margins suggest profitability remains supported even as revenue growth softens.
Read all positive factors
Tsingtao Brewery Co (0168) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$68.65B
Dividend Yield6.51%
Average Volume (3M)3.75M
Price to Earnings (P/E)15.3
Beta (1Y)0.86
Revenue Growth1.08%
EPS Growth4.93%
CountryHK
Employees29,257
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)3.37
Shares Outstanding655,069,150
10 Day Avg. Volume5,239,162
30 Day Avg. Volume3,749,097
Financial Highlights & Ratios
PEG Ratio4.73
Price to Book (P/B)1.95
Price to Sales (P/S)2.02
P/FCF Ratio21.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$57.20Price Target Upside38.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)3.41
Revenue Forecast (FY)HK$31.64B
Tsingtao Brewery Co Business Overview & Revenue Model
Company Description
Tsingtao Brewery Company Limited, along with its affiliated enterprises, focuses on the worldwide manufacturing, distribution, and sale of beer products. Its operations are structured across seven distinct divisions: Shandong, South China, North C...
How the Company Makes Money
Tsingtao Brewery primarily makes money by selling beer and related alcoholic beverage products through a mix of on-trade and off-trade channels. Its main revenue model is product sales: the company brews beer (including mainstream and premium offe...
Tsingtao Brewery Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.46B | 29.52B | 32.14B | 33.94B | 32.17B | 30.17B |
| Gross Profit | 13.20B | 10.77B | 12.93B | 13.12B | 11.85B | 11.08B |
| EBITDA | 6.15B | 6.29B | 7.09B | 6.90B | 6.10B | 5.61B |
| Net Income | 4.59B | 4.47B | 4.34B | 4.27B | 3.71B | 3.16B |
Balance Sheet | ||||||
| Total Assets | 56.08B | 52.68B | 51.42B | 49.26B | 50.31B | 46.56B |
| Cash, Cash Equivalents and Short-Term Investments | 25.57B | 19.24B | 20.00B | 24.79B | 20.54B | 17.38B |
| Total Debt | 330.38M | 240.16M | 68.24M | 63.39M | 373.08M | 406.99M |
| Total Liabilities | 20.64B | 18.18B | 21.56B | 21.00B | 24.04B | 22.77B |
| Stockholders Equity | 31.35B | 30.66B | 29.06B | 27.45B | 25.49B | 23.00B |
Cash Flow | ||||||
| Free Cash Flow | 3.46B | 2.82B | 3.01B | 1.16B | 3.10B | 4.41B |
| Operating Cash Flow | 5.88B | 5.02B | 5.15B | 2.78B | 4.88B | 6.04B |
| Investing Cash Flow | -6.41B | -3.71B | -7.42B | -3.46B | -2.20B | -10.25B |
| Financing Cash Flow | -1.59B | -3.02B | -2.98B | -2.87B | -1.68B | -1.61B |
Tsingtao Brewery Co Technical Analysis
Negative
41.38
Price Trends
43.93
Negative
45.63
Negative
46.83
Negative
Market Momentum
-1.10
Positive
41.78
Neutral
40.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0168, the sentiment is Negative. The current price of 41.38 is below the 20-day moving average (MA) of 42.21, below the 50-day MA of 43.93, and below the 200-day MA of 46.83, indicating a bearish trend. The MACD of -1.10 indicates Positive momentum. The RSI at 41.78 is Neutral, neither overbought nor oversold. The STOCH value of 40.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0168.
Tsingtao Brewery Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$68.65B | 15.27 | 14.64% | 6.51% | 1.08% | 4.93% | |
69 Neutral | HK$403.46M | 10.95 | 5.16% | 5.56% | -8.21% | ― | |
63 Neutral | HK$79.63B | 18.69 | 5.51% | 7.24% | -2.79% | -6.76% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | HK$61.31B | 18.99 | 9.57% | 5.98% | 2.71% | -48.12% | |
50 Neutral | HK$225.34M | 42.56 | 1.80% | 2.19% | -49.66% | -73.78% | |
43 Neutral | HK$239.83M | -58.71 | -3.96% | 112.17% | -9.97% | 94.31% |
* Consumer Defensive Sector Average
HK:0168
Tsingtao Brewery Co
41.46
-6.44
-13.44%
HK:0291
China Resources Beer (Holdings) Co
19.31
-7.08
-26.84%
HK:1876
Budweiser Brewing Co. APAC Ltd.
6.12
-1.64
-21.15%
HK:0236
San Miguel Brewery HK Ltd.
1.08
-0.06
-5.51%
HK:8146
Grace Wine Holdings Limited
0.30
0.16
126.92%
HK:0828
Dynasty Fine Wines Group Limited
0.17
-0.13
-44.67%
Tsingtao Brewery Co Corporate Events
Tsingtao Brewery Posts Higher Assets and Equity in 2026 Interim Results
Aug 26, 2026
Tsingtao Brewery reported unaudited interim results for the six months ended 30 June 2026, showing total assets rising to RMB 55.49 billion from RMB 52.13 billion at year-end 2025. The growth was driven by higher financial assets held for trading ...
Tsingtao Brewery to Cut H-Share Board Lot Size to Boost Liquidity
Aug 26, 2026
Tsingtao Brewery Company Limited will reduce the board lot size of its H shares traded on the Hong Kong Stock Exchange from 2,000 shares to 500 shares, effective 16 September 2026 at 9:00 a.m. The move is intended to lower the investment threshold...
Tsingtao Brewery Sets August Board Meeting to Approve 2026 Interim Results
Aug 11, 2026
Tsingtao Brewery Company Limited has scheduled a board meeting for 26 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026, prepared under China Accounting Standards for Business Enterprises. The ap...
Tsingtao Brewery shareholders approve 2025 AGM resolutions, reaffirming governance and auditor mandates
Jun 26, 2026
Tsingtao Brewery Company Limited held its 2025 annual general meeting on June 26, 2026, in Qingdao, with 794 shareholders and proxies representing about 47.11% of its total voting shares participating via combined on-site and online voting. The me...
Tsingtao Brewery Clarifies Board Structure and Committee Roles
Jun 26, 2026
Tsingtao Brewery has outlined the current composition of its board of directors, including executive, employee and independent non-executive directors, and confirmed Jiang Zong Xiang as chairman. The structure underscores a mix of internal managem...
Tsingtao Brewery Declares 2025 Final Dividend and Outlines Tax Treatment
Jun 26, 2026
Tsingtao Brewery Company Limited has announced a final ordinary cash dividend of RMB 2.35 per share for the financial year ended 31 December 2025, with shareholders approving the payout on 26 June 2026. For Hong Kong-registered shares, the dividen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.