Tsingtao Brewery
Market Cap
HK$61.3b
Last Updated
2020/03/31 12:42 UTC
Data Sources
Company Financials +
Executive Summary
Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the production, distribution, wholesale, and retail sale of beer products worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with proven track record.
Similar Companies
Share Price & News
How has Tsingtao Brewery's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 168's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
4.8%
168
5.5%
HK Beverage
7.4%
HK Market
1 Year Return
0.4%
168
-3.7%
HK Beverage
-22.7%
HK Market
Return vs Industry: 168 exceeded the Hong Kong Beverage industry which returned 0.4% over the past year.
Return vs Market: 168 exceeded the Hong Kong Market which returned -20.3% over the past year.
Shareholder returns
| 168 | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.8% | 5.5% | 7.4% |
| 30 Day | -2.3% | -10.4% | -11.2% |
| 90 Day | -24.5% | -22.8% | -17.3% |
| 1 Year | 1.5%0.4% | -3.1%-3.7% | -19.9%-22.7% |
| 3 Year | 16.0%12.0% | 30.5%27.9% | -5.3%-14.8% |
| 5 Year | -18.7%-23.6% | -27.2%-35.3% | -8.7%-23.4% |
Price Volatility Vs. Market
How volatile is Tsingtao Brewery's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Can Tsingtao Brewery Company Limited (HKG:168) Maintain Its Strong Returns?2 weeks ago | Simply Wall St
Should You Think About Buying Tsingtao Brewery Company Limited (HKG:168) Now?3 weeks ago | Simply Wall St
Does Tsingtao Brewery (HKG:168) Have A Healthy Balance Sheet?Valuation
Is Tsingtao Brewery undervalued compared to its fair value and its price relative to the market?
6.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 168 (HK$40.15) is trading above our estimate of fair value (HK$38.15)
Significantly Below Fair Value: 168 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 168 is poor value based on its PE Ratio (26.8x) compared to the Beverage industry average (24.2x).
PE vs Market: 168 is poor value based on its PE Ratio (26.8x) compared to the Hong Kong market (9x).
Price to Earnings Growth Ratio
PEG Ratio: 168 is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: 168 is overvalued based on its PB Ratio (2.6x) compared to the HK Beverage industry average (0.6x).
Next Steps
Future Growth
How is Tsingtao Brewery forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?
13.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 168's forecast earnings growth (12.6% per year) is above the savings rate (1.6%).
Earnings vs Market: 168's earnings (12.6% per year) are forecast to grow slower than the Hong Kong market (12.8% per year).
High Growth Earnings: 168's earnings are forecast to grow, but not significantly.
Revenue vs Market: 168's revenue (3.6% per year) is forecast to grow slower than the Hong Kong market (9.9% per year).
High Growth Revenue: 168's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 168's Return on Equity is forecast to be low in 3 years time (11.4%).
Next Steps
Past Performance
How has Tsingtao Brewery performed over the past 5 years?
-2.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 168 has high quality earnings.
Growing Profit Margin: 168's current net profit margins (6.6%) are higher than last year (5.4%).
Past Earnings Growth Analysis
Earnings Trend: 168's earnings have declined by -2.1% per year over the past 5 years.
Accelerating Growth: 168's earnings growth over the past year (30.2%) exceeds its 5-year average (-2.1% per year).
Earnings vs Industry: 168 earnings growth over the past year (30.2%) exceeded the Beverage industry -6.3%.
Return on Equity
High ROE: 168's Return on Equity (9.7%) is considered low.
Next Steps
Financial Health
How is Tsingtao Brewery's financial position?
Financial Position Analysis
Short Term Liabilities: 168's short term assets (CN¥21.0B) exceed its short term liabilities (CN¥13.4B).
Long Term Liabilities: 168's short term assets (CN¥21.0B) exceed its long term liabilities (CN¥4.0B).
Debt to Equity History and Analysis
Debt Level: 168's debt to equity ratio (1.4%) is considered satisfactory.
Reducing Debt: 168's debt to equity ratio has reduced from 2.9% to 1.4% over the past 5 years.
Debt Coverage: 168's debt is well covered by operating cash flow (1469.4%).
Interest Coverage: 168 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: 168 has a high level of physical assets or inventory.
Debt Coverage by Assets: 168's debt is covered by short term assets (assets are 76.8x debt).
Next Steps
Dividend
What is Tsingtao Brewery's current dividend yield, its reliability and sustainability?
1.33%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 168's dividend (1.31%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.67%).
High Dividend: 168's dividend (1.31%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.29%).
Stability and Growth of Payments
Stable Dividend: 168 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.
Growing Dividend: 168 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: 168 is not paying a notable dividend for the Hong Kong market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of 168's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.7yrs
Average management tenure
CEO
Ke Huang (57yo)
7.67s
Tenure
CN¥643,735
Compensation
Mr. Ke Xing Huang, EMBA has been the Chief Executive Officer of Tsingtao Brewery Company Limited since June 28, 2012 and its Chairman since May 17, 2018. Mr. Huang served as President at Tsingtao Brewery G ...
CEO Compensation Analysis
Compensation vs Market: Ke's total compensation ($USD90.72K) is below average for companies of similar size in the Hong Kong market ($USD718.74K).
Compensation vs Earnings: Ke's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.67yrs | CN¥643.74k | 0.0020% CN¥1.2m | |
| Executive Director & CFO | 5.67yrs | CN¥539.18k | no data | |
| VP & Executive Director | 1.67yrs | CN¥528.68k | no data | |
| Head of Accounting | no data | no data | no data | |
| Head of Law Affairs Department and Employee Representative Supervisor | no data | CN¥442.20k | no data | |
| President of Marketing Center | 2.42yrs | CN¥332.50k | no data | |
| Head of Equity Management Department & Company Secretary | 8.58yrs | no data | no data | |
| Asst. to President of Mfg Center | no data | CN¥549.65k | no data |
7.7yrs
Average Tenure
55yo
Average Age
Experienced Management: 168's management team is seasoned and experienced (7.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.67yrs | CN¥643.74k | 0.0020% CN¥1.2m | |
| Executive Director & CFO | 5.67yrs | CN¥539.18k | no data | |
| VP & Executive Director | 1.67yrs | CN¥528.68k | no data | |
| Head of Law Affairs Department and Employee Representative Supervisor | no data | CN¥442.20k | no data | |
| Independent Non-Executive Director | 4yrs | CN¥120.00k | 0.0015% CN¥907.9k | |
| Independent Non-Executive Director | 5.67yrs | CN¥120.00k | no data | |
| Independent Non-Executive Director | 5.67yrs | CN¥120.00k | no data | |
| Chairman of Board of Supervisors | no data | no data | no data | |
| Independent Non-Executive Director | 1.67yrs | CN¥60.00k | no data | |
| Non Executive Director | no data | no data | no data |
4.0yrs
Average Tenure
54yo
Average Age
Experienced Board: 168's board of directors are considered experienced (4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Tsingtao Brewery Company Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Tsingtao Brewery Company Limited
- Ticker: 168
- Exchange: SEHK
- Founded: 1903
- Industry: Brewers
- Sector: Food, Beverage & Tobacco
- Market Cap: HK$61.344b
- Shares outstanding: 1.35b
- Website: https://www.tsingtao.com.cn
Number of Employees
Location
- Tsingtao Brewery Company Limited
- Tsingtao Beer Tower
- May Fourth Square
- Qingdao
- Shandong Province
- 266071
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TSGT.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares-Foreign Listed | US | USD | Jul 1993 |
| 168 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Jul 1993 |
| TSI | DB (Deutsche Boerse AG) | Yes | Foreign Shares-Foreign Listed | DE | EUR | Jul 1993 |
| 168 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Jul 1993 |
| 168 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Jul 1993 |
| 600600 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Nov 1993 | |
| 600600 | XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect) | Domestic Shares | CN | CNY | Nov 1993 | |
| TSGT.Y | OTCPK (Pink Sheets LLC) | SPON ADR CL H | US | USD | Apr 1996 |
Biography
Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the production, distribution, wholesale, and retail sale of beer products worldwide. It operates through seven segments: Shandong Region; South China Region; North China Region; East China Region; Southeast China Region; Hong Kong, Macau and Other Overseas Region; and Finance Company. The company sells its beer products primarily under the Tsingtao Beer and Laoshan Beer brands. It also provides wealth management, and agency collection and payment services; and construction and logistics services. The company was founded in 1903 and is headquartered in Qingdao, the People's Republic of China.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/31 12:42 |
| End of Day Share Price | 2020/03/31 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.