On April 22, Tsingtao Brewery released its first-quarter 2021 results report. During the reporting period, Tsingtao Beer achieved a comprehensive and substantial increase in sales volume, revenue and net profit, with a total product sales volume of 2.19 million kiloliters, a year-on-year growth of 35%; Its operating revenue reached 8.93 billion yuan, up 41.87% year on year; The net profit attributable to the shareholders of the listed company was RMB 1.02 billion, up 90.26% year on year; Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 910 million yuan, up 97.35% year on year.
Record performance in a row
High-quality development “to the next level”
In the first quarter of 2021, Tsingtao Brewery achieved a “good start” in high-quality performance. During the reporting period, the company’s sales volume, revenue and net profit increased three times, which helped Tsingtao Brewery to ride the momentum and achieve a “new peak” in high-quality development.
The first-quarter report shows that during the reporting period, under the guidance of the high-quality development strategy formulated by the board of directors, the company took the brand as the guide, increased sales, adjusted the structure, expanded channels, controlled costs and improved efficiency, and actively explored the product market. All employees of the company make efforts to promote the “Spring Plowing Action”, actively build consumption scenarios and immersive experience mode, focus on resources to vigorously develop online and offline channels, and constantly improve the layout of the terminal market, so as to meet the diverse, convenient and efficient consumption needs of consumers through multiple channels.
Medium-and high-end advantages continue to be highlighted
Sales of the main brand increased 44 percent year on year
Under the strategic guidance of deep development in the middle and high-end beer market, Tsingtao Brewery has achieved remarkable results in structural adjustment. The strong competitiveness in the middle and high-end market has provided a strong momentum for high-quality development.
The company gives full play to the brand and quality advantages of Tsingtao Brewery, actively promotes innovation-driven and product structure optimization and upgrading, constantly develops and introduces high-quality new and special products, and accelerates the transformation and upgrading to high value-added products such as tin wine and craft products. During the reporting period, the sales volume of the main brand of Tsingtao Brewery has achieved a year-on-year growth of 44%.
Profit space continues to open under high quality development
Since the beginning of the year, Tsingtao Brewery has achieved a comprehensive and substantial increase in sales volume, income and net profit, with high quality business performance and enterprise development. Major securities companies and institutions continue to be optimistic about the long-term investment value of Tsingtao Brewery.
Tianfeng securities that: in the industry high-end competition in the company has obvious advantages. On the one hand, the company has the brand and market foundation to move toward high-end; On the other hand, the company’s production line optimization and transformation, layout of high-end product production, also laid a solid foundation for enriching and upgrading the product line. High-end competitiveness continues to consolidate, and high-quality development continues to open profit margins.
Minsheng Securities that: the future development with multiple points, optimistic about the company’s profitability continued to improve. In recent years, the company’s main brand performance is excellent, the product structure is further optimized. In the strong brand power and equity incentive to release the operating vitality of the double support, optimistic about the company’s future profitability continued upward.
Soochow Securities believes that: the company to accelerate the digital transformation and intelligent manufacturing and the promotion of the industrial Internet, improve the supply capacity of high-end products; The consumption scene has been upgraded, and more than 200 “Tsingtao1903 Tsingtao Beer Bar” have been set up to bring consumers an immersive experience. With a global network of distributors in more than 100 countries, the company will consolidate its base markets and expand into emerging markets, driving the improvement of the company’s market operations and profitability.