Tsingtao is a premium beer brand in China, but we expect competition to intensify.
Following a poor performance in 2015, Tsingtao saw a 5.3% sales volume decline and a 4.4% revenue decrease for first-quarter 2016, compared with a year ago. Given the decelerating growth of the Chinese economy, weak consumer sentiment, and intensifying competition in the beer industry (especially competition from overseas rivals), we think Tsingtao will see continued downward pressure, and will face difficulty recovering in 2016. We expect Tsingtao’s revenue to decline by 2.4% year over year in ...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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