On the evening of October 28, Tsingtao Brewery released its report for the third quarter of 2021. In the first three quarters of 2021, the company achieved a total product sales of 7.082 million kiloliters, a year-on-year increase of 2.02%. Among them: the main brand Tsingtao Brewery achieved product sales of 3.784 million kiloliters , A year-on-year increase of 13.05%; realized operating income of RMB 26.77 billion, a year-on-year increase of 9.62%, and a year-on-year increase of 7.45% of Qiansheng Liquor’s operating income; realized a net profit attributable to shareholders of listed companies of RMB 3.61 billion, a year-on-year increase of 21.25%, compared with 2019 A year-on-year increase of 39.64%, operating income and net profit both set the best performance in history.
Tsingtao Brewery takes advantage of its network layout covering major markets across the country, actively explores domestic and foreign markets, and rapidly enhances the synergy of production and sales through digital transformation.
At the same time, continue to leverage Tsingtao Brewery’s brand and quality advantages, accelerate brand optimization and product structure upgrades. The main brand Tsingtao Brewery has achieved a growth of 13.05%, which represents the continuous improvement of the transformation and upgrading of high value-added products, opening up the company’s profitability. space.
Tsingtao Brewery focuses on high-quality development and continues to innovate efficiently, winning the recognition of consumers and the market.
Shanghai Shenyin & Wanguo Securities believes that Tsingtao Brewery is the company with the strongest brand power and the most high-end genes among local companies. The efficiency of production and operation continues to be optimized, the product structure continues to improve, and there is room for continuous improvement in profitability in the medium and long term.
Guotai Junan Securities believes that products have long-term growth potential and their proportion is expected to continue to increase, and the proportion of high-end products will continue to increase.
The product structure of Tsingtao Brewery has been significantly upgraded, and the unit price per ton has increased significantly. In the future, the structural upgrade and the superimposed price increase and efficiency increase will bring more certainty in the release of profits.
Tianfeng Securities believes that the continuous optimization of product structure and management efficiency under high-quality development will promote the accelerated release of the company's performance.
Actively lay out the high-end product market, and accelerate the transformation and upgrading to high value-added products represented by canned wine and craft products.
Optimize management efficiency and open up space for the company's profitability improvement.
Donghao Securities believes that the company continues to promote the "dual brand" strategy.
Through the immersive brand promotion model, we will build a diversified consumption scene, create a terminal ecosystem, and continue to accelerate the process of high-end through structural upgrading and transformation, and the level of profitability will continue to rise.
Essence Securities believes that the company will continue to focus on structural upgrades in the future. The company has a long history, high-end genes, brand value ranking first in the industry, and continued profitability is expected.