Tsingtao Brewery’s 2020 net profit of 2.201 billion yuan increased 18.86% year-on-year

Original caption: Tsingtao Brewery’s 2020 net profit of 2.201 billion yuan increased by 18.86% year-on-year

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[El beneficio neto de 2020 de Tsingtao Brewery de 2.201 mil millones de yuanes aumentó en un 18,86% interanual]Tsingtao Brewery released its annual report on the afternoon of March 28. In 2020, the company earned operating income of 27.76 billion yuan, a year later -year of decline of 0.8%, the net profit attributable to shareholders of listed companies was 22.01 billion yuan , an increase of 18.86% year-on-year. Basic earnings per share are 1,629 yuan. A cash dividend of RMB 0.75 (tax included) per share was distributed, and a total cash dividend of RMB 1,023 million (tax included) was distributed. (China Securities Journal)

　　Tsing Tao BeerThe annual report will be released on the afternoon of March 28, and the company will do it in 2020Operating income27,760 million yuan, 0.8% less year-on-year; attributable to listed companiesshareholderfromNet profitIt was 2,201 million yuan, a year-on-year increase of 18.86%. Basic earnings per share are 1,629 yuan. A cash dividend of RMB 0.75 (tax included) per share was distributed, and a total cash dividend of RMB 1,023 million (tax included) was distributed.

　　Tsing Tao BeerHe said the year-on-year drop in operating income was mainly due to the impact of the new corona pneumonia epidemic and the drop in sales of the company’s main products. At the same time, due to the drop in sales of the company’s main products, operating costs decreased 3.16% year-on-year.

　　advertisementProve that the company’s core brand in 2020Tsing Tao BeerA total of 3,879 million liters of sales were achieved, among which high-end products such as “Hundred Years Journey, Amber Lager, August, Fortune Dang, Classic 1903, Pure Draft Beer” achieved a total sales of 1,792 million liters , maintaining the domestic high-end beer market The competitive advantage of the product market has led to high-quality development under the new trend of improving the consumption structure. Today, the company focuses on the consumer experience and promotes high-quality development by creating new channels and scenarios. It has deployed more than 200 “TSINGTAO1903 Tsingtao beer bars” across the country to provide consumers with high-end, personalized and fashionable products. Interactive communication continually meets individualized, scene-oriented, convenience, high-level, and other level needs of consumers.

Tsingtao Brewery stated that in recent years, Tsingtao Brewery company “One hundred years of travel, Amber Lager, August, Fortune Dangtou, Classic 1903, Barrel Pure Beer, Pilsner, Tsingtao Brewery IPA” and other Tsingtao Brewery series launched by the company have distinctive characteristics. New products that meet market demand have led the consumer trend for high-end beer products and further enhanced the company’s brand image.

Tsingtao Brewery recorded losses in the fourth quarter of 2020. The annual report shows that in the first quarter, the company achieved revenue of 6.293 million yuan, and the net profit attributable to the parent company was 537 million yuan; in the second quarter, revenue was 9.386 billion yuan and the net profit attributable to the parent was 1.318 billion yuan; and the revenue in the third quarter was 8.743 billion yuan. The net profit attributable to the parent company was 1,123 million yuan; operating income in the fourth quarter was 3.338 billion yuan, and the net profit attributable to the parent was a loss of 777 million yuan.

Tsingtao Brewery mentioned in its annual report that since the company’s current barley raw material that is used for the production of its main brand is primarily based on imports, changes in the exchange rate will affect material acquisition costs. business premium; In addition, part of the company’s beer products are exported and changes in the exchange rate will directly affect the company’s product export earnings, the above will have a certain impact on the company’s profitability.

In terms of distributors, the annual report shows that at the end of 2020, Tsingtao Brewery has 14,400 distributors in the domestic market. According to Tsingtao Brewery, the company’s product sales are primarily achieved through distributors and professional platforms in a deep distribution model. Affected by the epidemic in 2020, sales from ready-to-drink markets such as catering and night markets will account for around 45% of the company’s market sales, through KA, circulation, etc. Non-ready beverage market sales by channels accounted for about 55%.

The annual report shows that Tsingtao Brewery has 60 wholly owned and controlled beer production companies in China, as well as 2 joint and joint beer production companies, distributed in 20 provinces, municipalities and autonomous regions across the country, and its scale and market. share are in the leading position in the national beer industry. The Tsingtao beer it produces has been sold to more than 100 countries and regions in the world.

Tsingtao Brewery stated that in 2020, the company will invest about 1.295 billion yuan in construction, relocation and capital expansion projects. According to the current state of the company’s capital and profitability, sufficient own funds and continuous operating cashNet inflowSatisfy the capital needs of the company’s capital projects.

Tsingtao Brewery stated that the company will unwaveringly promote a high-quality development strategy, make full use of the advantages of Tsingtao Brewery’s brand, quality, production base and channel network and other platform resources, and will strive to promote the transformation of the development mode.

(Source: China Securities Journal)

(Editor-in-charge: DF532)