Net profit of Chinese brewery Tsingtao increased by 13.8%

Tsingtao Brewery Co., Ltd., representing China's largest brewery producing beer, Tsingtao reported a 13.8% year-on-year increase in net profit for the first half of 2020, Xinhua News Agency reported on August 30. Net profit of the company's shareholders reached 1.85 billion yuan (about $269 million), according to an interim semi-annual report of the company, whose headquarters are located in Qingdao, Shandong province in the east of the country. Qingdao Brewery is represented on the Shanghai and Hong Kong stock exchanges. The company's revenue for the specified period from January to June 2020 amounted to 15.68 billion yuan, which is 5.27% lower in annual terms. For six months of the year, the company sold 4.41 million kiloliters of beer. Of the total sales of Qingdao's main brand beer, 2.09 million kiloliters were sold, which is slightly less than half.
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