Chinese Beer Production Volume Improved in 2Q17 due to Favorable Weather Conditions
Chinese breweries saw a good sign of recovery as the total production volume improved in the second quarter, mainly owing to favorable weather conditions in higher temperatures and a lower year-ago base having declined 11% in second-quarter 2016. However, we don’t intend to change our fair value estimates for China Resources Beer and Tsingtao Brewery at this stage.ÂThe total beer production volume recovered from a 2.9% year-on-year decline in the first quarter to 3.7% year-on-year growth in the...
Tsingtao Brewery is engaged in the production, sale and distribution of beer products, and domestic trade of beer. Through its subsidiaries, Co. is also engaged in investment holding; the manufacture and domestic trade of beverage and malt; pre-packaged of food operation; provision of accommodation and design services; indoor decoration; industrial equipment fixing; and import and export trade of beer.
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