Tsingtao Brewery Co.,Ltd.’s Net Profit Rose 27.8% in First Quarter of 2023

Tsingtao Brewery Co.,Ltd. (青岛啤酒股份有限公司) (600600.SH) reported a net profit of 1.5 billion yuan in the first quarter of 2023, up 27.8% year-on-year.

Meanwhile, the company posted 10.7 billion yuan in revenue, up 16.3% year-on-year.

At the end of the reporting period, it had 50.1 billion yuan in total assets and 22.4 billion yuan in total liabilities, with a liability-to-asset ratio of 44.6%.