TSINGTAO

In the first nine months this year, Tsingtao Beer Co achieved net profit of 2.98 billion yuan attributable to shareholders of the listed company, increasing 15.17 percent year-on-year, hitting a record high, according to its recent report.

The company sold a total of 6.9 million kiloliters of its wide range of products over the period, generating revenue of 24.4 billion yuan. The achievement has been made thanks to Tsingtao’s high-quality development strategy as well as various innovative measures to offset the negative impact of the novel coronavirus outbreak.

Since the beginning of 2020, Tsingtao has been taking the lead in the reforms over the industrial chain to create innovative products and experiences for consumers.

It has also been exploring new markets, accelerating the development of high-value added products, such as canned beer and craft beer and thus optimizing its product portfolio, the report said. An example of this was the Centennial Journey series unveiled in July, aiming at meeting the diversified demands of high-end consumers.

The report noted that Tsingtao has been enhancing its brand influence through immersive and comprehensive brand promotion models, building new sales channels and scenarios to meet consumer demands, including the Tsingtao Beer Festival in more than 50 cities nationwide and over 160 TSINGTAO1903 bars. It also uses the industrial internet to upgrade traditional businesses, highlighting flexible and customized production.

With continuous and efficient innovation efforts, the company has won increasing trust in the capital market. Its stock price has repeatedly hit new highs since it was listed in 1993, and its market value has exceeded 100 billion yuan, with the brand valued 179.285 billion yuan.

With the competition in the beer industry moving to the higher-end market, Tsingtao is showing strong momentum in optimizing its product structure, according to Guorong Securities.

Shenyin & Wanguo Securities said Tsingtao has the strongest brand influence among domestic companies and boasts industry-leading innovation capacity. With the century-old brand and institutional dividends, Tsingtao will deliver long-term improvements.

Minsheng Securities said Tsingtao paid more attention to online sales and community purchasing services during the pandemic, using new channels to promote its products with a good understanding of consumer demands. It is optimistic about Tsingtao’s future performance with diversified and carefully cultivated marketing channels.