기업 프로필 · Consumer Defensive

Tsingtao Brewery Co Ltd

600600 · 상하이
산업
Beverages
거래소
상하이
국가 / 지역
China
상장일
1993년 7월 15일
직원 수
29,257
웹사이트
www.tsingtao.com.cn
발행 시 주가
¥51.49
2026년 9월 5일 종가
적정 매수가
≤ ¥36
안전마진 진입가
베일리 성장 점수
27/100
약함
Buffett Score
70/100
우수
내재가치 · 3단계 구간 발행 시 주가 ¥51.49 · 적정 내재가치 구간 내

종합 밸류에이션 구간 · 보수적 ¥34–¥36 / 적정 ¥48–¥64 / 낙관적 ¥80–¥88. 발행 시 주가 ¥51.49（2026년 9월 5일） 기준, 적정 내재가치 구간 내.

재무 개요
시가총액CN¥682.37억
매출 (TTM)CN¥316.37억
EBITDACN¥62.95억
순이익률14.55%
ROE15.02%
PER (TTM)14.8
선행 PER15.48
PEG10.67
EPSCN¥3.38
배당수익률4.75%
52주 범위CN¥49.48 – CN¥68.60

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회사 소개

Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the manufacture and sale of beer products in Mainland China, Hong Kong, Macau, and internationally. It operates in seven segments: Shandong Region; South China Region; North China Region; East China Region; Southeast China Region; Hong Kong, Macau and Other Overseas Regions; and Finance Company. The company sells its beer products primarily under the Tsingtao Beer, Laoshan Beer, Hans Beer, Tsingtao Beer Museum, TSINGTAO 1903 Pubs, and Tsingtao Prince brand names. It also provides wealth management, agency collection, real estate, software and IT, and payment services, as well as technology promotion and application services. In addition, the company is involved in industrial engineering; technology promotion and application; and industrial investment activities. Tsingtao Brewery Company Limited was founded in 1903 and is headquartered in Qingdao, the People's Republic of China.

기본 정보

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이 종목에 대한 리포트
27/100 보유 Tsingtao Brewery: H1 Volume Fell 4.9% While Profit Held Flat on Cost Savings, and CNY51.49 Is 12% Above Conservative Value Tsingtao Brewery is a national Chinese brewer anchored in Shandong that monetises its master brand through premium mix while aggregate beer volumes decline, with mid/high-end products now about 75.5% of main-brand volume and no financial debt on the balance sheet. H1 2026 shows the margin story running ahead of the volume story: volume fell 4.9% to 4.500 million kL and revenue to CNY19.655bn, yet attributable profit still rose CNY15.5m, because gross margin improved from 43.70% to 44.86% and selling expense fell CNY274m, roughly CNY167m of that beyond what lower volume alone explains. The competitive read is harder than the industry read, because national output rose 0.2% over the same half while China Resources Beer grew volume 1.7% and premium volume above 10% against Tsingtao's 2.6%. Rating Hold: CNY51.49 sits inside the CNY48-64 acceptable-hold band on 15.3x trailing earnings and a mid-4% yield, but roughly 12% above the CNY46 conservative fair value, so the margin of safety is none and the ideal buy range is CNY34-36. Tsingtao Brewery Company Limited600600 · 상하이Beverages2026년 9월 5일