Tsingtao Brewery Company (168) Q3 2025 earnings summary

Executive summary

• Achieved operating revenue of RMB29.37 billion for the first three quarters of 2025, up 1.4% year-over-year.

• Net profit attributable to shareholders reached RMB5.27 billion, a 5.7% year-over-year increase.

• Cumulative product sales totaled 6.894 million kiloliters, up 1.6% year-over-year.

• Flagship brand sales rose 4.1% year-over-year; mid-to-high-end and premium products grew 5.6%.

Financial highlights

• Q3 revenue was RMB8.88 billion, down 0.17% from the same quarter last year.

• Q3 net profit attributable to shareholders was RMB1.37 billion, up 1.62% year-over-year.

• Basic and diluted EPS for Q3 were RMB1.004, up 1.52% year-over-year.

• Weighted average return on net assets for Q3 was 4.47%, down 0.16 percentage points year-over-year.

• Net cash flow from operating activities for the first three quarters was RMB5.82 billion, down 6.65% year-over-year.

Key financial ratios and metrics

• Total assets at quarter-end: RMB51.39 billion, down 0.06% from year-end 2024.

• Total equity attributable to shareholders: RMB31.33 billion, up 7.82% from year-end 2024.