Financial Performance - The company's operating revenue for Q3 2022 was RMB 9,837,184,875, representing a year-on-year increase of 16.00%[2] - The net profit attributable to shareholders for Q3 2022 was RMB 1,414,898,633, an increase of 18.37% compared to the same period last year[2] - Total operating revenue for the first three quarters of 2022 reached ¥29,109,843,175, an increase of 8.9% compared to ¥26,771,391,438 in the same period of 2021[12] - Operating profit for the first three quarters of 2022 was ¥5,730,391,731, up 16.6% from ¥4,913,377,683 in the previous year[12] - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was ¥4,266,993,082, representing a 18.2% increase from ¥3,610,797,933 in 2021[13] Sales and Product Performance - The cumulative product sales for the first three quarters of 2022 reached 7.279 million kiloliters, a year-on-year growth of 2.8%[4] - The main brand, Tsingtao Beer, achieved product sales of 3.953 million kiloliters, reflecting a year-on-year increase of 4.5%[4] Assets and Equity - The total assets at the end of the reporting period were RMB 49,318,248,328, an increase of 5.92% from the end of the previous year[3] - The total equity attributable to shareholders at the end of the reporting period was RMB 26,035,981,279, reflecting a year-on-year increase of 13.19%[3] - As of September 30, 2022, the total assets of Qingdao Beer Co., Ltd. amounted to CNY 49.32 billion, an increase from CNY 46.56 billion as of December 31, 2021, representing a growth of approximately 5.7%[10] - The company's total equity attributable to shareholders rose to CNY 26.04 billion, compared to CNY 23.00 billion in the previous year, marking an increase of approximately 13.2%[11] Cash Flow and Liabilities - The net cash flow from operating activities for the year-to-date was RMB 5,991,216,680, showing a decrease of 2.80% compared to the previous year[2] - The company's cash and cash equivalents reached CNY 17.05 billion, up from CNY 14.60 billion in the previous year, indicating a year-over-year increase of about 10%[9] - Total current liabilities decreased to CNY 18.07 billion from CNY 18.26 billion, reflecting a reduction of approximately 1%[11] - The total liabilities of the company decreased to CNY 22.44 billion from CNY 22.77 billion, reflecting a decline of approximately 1.5%[11] Expenses and Profitability - Research and development expenses increased significantly to ¥30,206,437, up 124.5% from ¥13,434,259 in the previous year[12] - Total operating costs for the first three quarters of 2022 were ¥24,120,876,202, an increase of 11.8% from ¥22,531,063,216 in 2021[12] - The company achieved a gross profit margin of approximately 16.5% in the first three quarters of 2022, compared to 15.8% in the same period of 2021[12] - The diluted earnings per share for Q3 2022 was RMB 1.040, an increase of 18.05% year-on-year[3] - Earnings per share for the first three quarters of 2022 were ¥3.149, up from ¥2.665 in the previous year[13] Cash Flow from Investments and Financing - Cash inflow from investment activities was ¥10,639,971,822, significantly higher than ¥5,681,835,106 in the same period of 2021[14] - Cash outflow from investment activities totaled ¥14,936,346,029, a decrease of 33.1% compared to ¥22,294,680,433 in the previous year[15] - Net cash flow from investment activities was -¥4,296,374,207, improving from -¥16,612,845,327 year-over-year[15] - Cash inflow from financing activities was ¥229,741,355, down 71.5% from ¥807,605,920 in the previous year[15] - Net cash flow from financing activities was -¥1,613,838,335, worsening from -¥579,698,124 year-over-year[15] Other Financial Metrics - The weighted average return on equity for Q3 2022 was 5.59%, an increase of 0.35 percentage points compared to the previous year[3] - The company's retained earnings increased to CNY 19.08 billion from CNY 16.32 billion, representing a growth of about 10.7%[11] - The company's accounts payable surged to CNY 4.27 billion from CNY 3.13 billion, representing an increase of approximately 36.5%[10] - The deferred income tax assets rose to CNY 2.24 billion from CNY 2.13 billion, indicating an increase of about 5.2%[11] - The inventory level decreased significantly to CNY 2.16 billion from CNY 3.49 billion, a decline of around 38%[9] - The impact of exchange rate changes on cash and cash equivalents was ¥44,736,905, contrasting with -¥4,314,852 in the previous year[15]

Financial Performance - For Q3 2022, the company reported operating revenue of RMB 9,837,184,875, representing a year-on-year increase of 16.00%[4] - The net profit attributable to shareholders was RMB 1,414,898,633, an increase of 18.37% compared to the same period last year[4] - The revenue for the first three quarters was RMB 29,109,843,175, an increase of 8.73% year-on-year[5] - The diluted earnings per share for the reporting period was RMB 1.040, reflecting an increase of 18.05% year-on-year[4] - The return on equity for the reporting period was 5.59%, an increase of 0.35 percentage points compared to the previous year[4] - The net cash flow from operating activities for the year-to-date was RMB 5,991,216,680, showing a decrease of 2.80%[4] Sales Performance - The cumulative product sales for the first three quarters reached 7.279 million kiloliters, a year-on-year growth of 2.8%[5] - The main brand, Tsingtao Beer, achieved product sales of 3.953 million kiloliters, up 4.5% year-on-year[5] Shareholder Information - The largest shareholder, Hong Kong Central Clearing (Agent) Co., Ltd., holds 613,927,619 shares, representing 45.00% of the total shares[8] - Qingdao Beer Group Co., Ltd. is the second largest shareholder with 443,467,655 shares, accounting for 32.50%[8] - The top ten shareholders collectively hold significant stakes, with the top three alone comprising over 78% of the total shares[8] - The number of shares held by shareholders with unlimited sale conditions includes 613,927,619 shares from Hong Kong Central Clearing (Agent) Co., Ltd.[9] - Qingdao Beer Group's holdings include 405,132,055 A-shares and 38,335,600 H-shares[10] - The company has not disclosed any known relationships or concerted actions among the top ten shareholders[10] - Qingdao Beer Group did not participate in margin financing or securities lending during the reporting period[10] Corporate Governance - The company continues to implement a high-quality development strategy, focusing on brand optimization and product structure upgrades[5] - The board of directors includes both executive and independent non-executive members, ensuring governance and oversight[11] Additional Information - The company has not provided any additional significant operational information for the reporting period ending September 30, 2022[11] - The financial statements for the reporting period are available on the Shanghai Stock Exchange and the company's website[11]

Financial Performance - For the six months ended June 30, 2022, the total operating revenue was RMB 19.27 billion, an increase of 5.4% compared to RMB 18.29 billion for the same period in 2021[6]. - The net profit attributable to shareholders for the same period was RMB 2.85 billion, representing an 18.0% increase from RMB 2.42 billion in the previous year[6]. - The company reported a gross profit margin of approximately 38.5% for the first half of 2022, compared to 37.9% in the same period of 2021[6]. - Operating profit for the six months was RMB 3.85 billion, up 17.1% from RMB 3.28 billion in the prior year[6]. - Total comprehensive income for the period was RMB 2.90 billion, compared to RMB 2.49 billion in the previous year, reflecting a growth of 16.5%[6]. - The company reported a basic earnings per share of RMB 2.10, up from RMB 1.78 in the previous year[6]. - The company reported a total of RMB 2,126,216,140 in selling expenses for the six months ended June 30, 2022, slightly down from RMB 2,155,442,052 in the same period of 2021, a decrease of about 1.4%[198]. - The company’s advertising and promotional expenses for the six months ended June 30, 2022, were RMB 695,240,950, a decrease from RMB 723,449,008 in the same period of 2021, reflecting a reduction of about 3.9%[198]. Assets and Liabilities - As of June 30, 2022, Tsingtao Brewery's total assets reached RMB 50.08 billion, an increase from RMB 46.56 billion as of December 31, 2021, representing an increase of approximately 5.4%[4]. - Total liabilities increased to RMB 24.77 billion from RMB 22.77 billion, which is an increase of approximately 8.8%[5]. - Shareholders' equity rose to RMB 25.30 billion, up from RMB 23.79 billion, representing an increase of about 6.4%[5]. - The company's current assets totaled RMB 31.90 billion, up from RMB 28.96 billion in the previous year, marking a growth of about 10.1%[4]. - The company's inventory decreased to RMB 2.35 billion from RMB 3.49 billion, indicating a reduction of about 32.7%[4]. - The total cash and cash equivalents at the end of June 30, 2022, amounted to RMB 12,618,027,496, up from RMB 6,846,715,666 at the end of June 30, 2021, reflecting a year-over-year increase of approximately 84.5%[8]. - The total liabilities decreased from RMB 8,600,000,000 at the end of 2021 to RMB 8,000,000,000 as of June 30, 2022, reflecting a reduction of about 7%[10]. Cash Flow - Cash flow from operating activities was RMB 4.72 billion, a decrease of 6.1% from RMB 5.02 billion in the first half of 2021[7]. - The company generated cash inflows from investment activities amounting to RMB 9.48 billion, significantly higher than RMB 2.03 billion in the same period last year[7]. - The cash flow from operating activities for the first half of 2022 was RMB 1,200,000,000, compared to RMB 1,000,000,000 in the same period of 2021, indicating a growth of 20%[10]. - The cash inflow from financing activities for the first half of 2022 was RMB 229,096,397, down from RMB 257,600,920 in the first half of 2021[8]. Investments and Development - Tsingtao Brewery's long-term investments in fixed assets reached RMB 10.84 billion, compared to RMB 10.15 billion in the previous year, reflecting an increase of about 6.8%[4]. - Research and development expenses for the first half of 2022 were RMB 17 million, compared to RMB 8 million in the same period of 2021, indicating a focus on innovation[6]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[5]. - The company has ongoing construction projects with a total book value of 507,649,435 as of June 30, 2022, down from 762,289,882 on December 31, 2021, reflecting a decrease of approximately 33.4%[139]. Employee Compensation and Benefits - Employee compensation for the six months ended June 30, 2022, was $359,831,414, an increase from $337,067,752 in the same period of 2021, reflecting a growth of approximately 7.3%[200]. - The total employee compensation payable as of June 30, 2022, was RMB 2,263,513,045, compared to RMB 2,172,664,930 on December 31, 2021[165]. - The company incurred other termination benefits of CNY 6,427,679 during the six months ended June 30, 2022, compared to CNY 6,374,982 for the same period in 2021, showing a slight increase[169]. - The group provides supplementary post-employment benefits to eligible employees, with the present value of defined benefit obligations calculated annually by independent actuaries[61]. Taxation and Deferred Income - The corporate income tax rate applicable to the group is 20%, with rates ranging from 3% to 25% for different subsidiaries[82]. - The total deferred revenue as of June 30, 2022, included various relocation projects and technical transformation projects, with significant contributions from multiple projects across different regions[173]. - The deferred tax assets as of June 30, 2022, amount to CNY 10,578,908,300, with a significant portion related to payable expenses totaling CNY 7,600,210,268[152]. - The total deferred tax liabilities as of June 30, 2022, are CNY 2,200,910,968, primarily due to fixed asset depreciation[153]. Financial Instruments and Risk Management - Financial assets are classified into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[25]. - The group recognizes expected credit losses based on past events, current conditions, and forecasts of future economic conditions, calculating the present value of the difference between cash flows expected to be received and contractual cash flows[29]. - The group measures expected credit losses for trade receivables and notes receivable based on the entire lifetime expected credit losses, regardless of significant financing components[29]. - The fair value of financial instruments is determined using observable inputs from active markets when available; otherwise, valuation techniques are employed[33].

Financial Performance - The company's operating revenue for the first half of 2022 reached CNY 19,272,658,300, representing a 5.37% increase compared to CNY 18,291,160,751 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was CNY 2,852,094,449, an increase of 18.07% from CNY 2,415,521,329 in the previous year[12]. - The net profit after deducting non-recurring gains and losses was CNY 2,590,369,456, reflecting a growth of 20.03% compared to CNY 2,158,036,282 in the same period last year[12]. - Basic earnings per share for the first half of 2022 were CNY 2.100, up 17.98% from CNY 1.780 in the same period last year[13]. - The diluted earnings per share were CNY 2.099, reflecting a 17.92% increase compared to CNY 1.780 in the previous year[13]. - The company reported a weighted average return on equity of 11.65%, an increase of 0.62 percentage points from 11.03% in the previous year[13]. - The total comprehensive income for the six months ended June 30, 2022, was RMB 2.90 billion, compared to RMB 2.49 billion in the same period of 2021, reflecting an increase of about 16.6%[64]. Cash Flow and Investments - The net cash flow from operating activities was CNY 4,719,012,228, showing a decrease of 6.08% from CNY 5,024,661,252 in the previous year[12]. - Cash inflow from investment activities significantly increased to RMB 9,484,985,169 compared to RMB 2,031,522,753 in the previous year[66]. - The company received RMB 9,086,457,730 from investment recoveries, a significant increase from RMB 1,776,085,800 in the previous year[66]. - Cash outflow for purchasing fixed assets and intangible assets was RMB 817,704,619, compared to RMB 703,675,247 in the same period last year[66]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 50,077,006,806, which is a 7.55% increase from CNY 46,563,004,491 at the end of the previous year[12]. - The total liabilities amounted to RMB 24.77 billion, compared to RMB 22.77 billion, indicating an increase of approximately 8.8%[62]. - The total equity attributable to shareholders reached RMB 24.50 billion, up from RMB 23.00 billion, marking an increase of about 6.5%[62]. - The company's cash and cash equivalents increased to RMB 17.59 billion from RMB 14.60 billion, a rise of about 20.5%[61]. Sales and Market Performance - In the first half of 2022, the company achieved a product sales volume of 4.72 million kiloliters, with the main brand Tsingtao beer contributing 2.6 million kiloliters[19]. - The company reported a 21% increase in overseas market sales during the reporting period[19]. - The sales volume of mid-to-high-end products grew by 6.6% year-on-year, with revenue from these products increasing by 6.5%[19]. Research and Development - Research and development expenses surged by 106.12% year-on-year, indicating increased investment in new product development[21]. - The investment income rose by 85.95% year-on-year, primarily due to an increase in the scale of financial interbank deposit business[21]. Environmental Compliance - The company’s wastewater discharge from its Qingdao Brewery complies with the pollution discharge standards, with no exceedance reported[34]. - The company has undergone significant changes in its board and management, with multiple resignations and appointments in 2022[31]. - The company has established a comprehensive pollution control facility and operational management system, ensuring stable compliance with national discharge standards[43]. - The company achieved a year-on-year reduction of 8.6% in carbon emissions per unit of product in the first half of 2022[47]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 43,083, including 42,835 A-share holders and 248 H-share holders[55]. - The largest shareholder, Hong Kong Central Clearing Limited, held 613,927,619 shares, representing 45.00% of the total shares[55]. - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[58]. Financial Statements and Accounting Policies - The financial statements include consolidated balance sheets, profit and loss statements, and cash flow statements for the reporting period[60]. - The company adheres to the accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission[75]. - The accounting year runs from January 1 to December 31[77]. - The company recognizes financial instruments when it becomes a party to the financial instrument contract[87]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration, including short-term salaries and post-employment benefits[123]. - The company contributes to social basic pension insurance for employees, recognizing liabilities based on local regulations[126]. Related Party Transactions - The company reported a total of 117 million RMB in related party transactions with Youjia Health Group, accounting for 19.42% of similar transaction amounts[49]. - The company provided comprehensive services to Qingdao Beer Group and its subsidiaries, with transaction amounts reaching 524 million RMB, representing 78.96% of similar transaction amounts[50].

Financial Performance - The total revenue for Q1 2022 was RMB 9,208,137,288, representing a year-on-year increase of 3.14%[2] - The net profit attributable to shareholders was RMB 1,126,228,090, reflecting a growth of 10.20% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,021,784,840, an increase of 17.14% year-on-year[3] - Total operating revenue for Q1 2022 was 9,208,137,288, an increase of 3.14% compared to 8,927,731,306 in Q1 2021[12] - Net profit for Q1 2022 reached 1,152,465,765, compared to 1,054,731,323 in Q1 2021, representing a growth of 9.30%[13] - The company reported a comprehensive income total of 1,153,501,790 for Q1 2022, compared to 1,054,160,288 in Q1 2021, marking an increase of 9.47%[13] Sales and Production - The total product sales volume reached 2.129 million kiloliters, with the main brand Qingdao Beer achieving sales of 1.304 million kiloliters, a year-on-year growth of 5.1%[3] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 62.14% to RMB 933,619,727 due to increased revenue recognition from advance receipts[5] - Cash inflow from operating activities for Q1 2022 was approximately ¥8.24 billion, a decrease of 8% from ¥8.95 billion in Q1 2021[14] - Total cash outflow from operating activities increased to approximately ¥7.31 billion, compared to ¥6.49 billion in Q1 2021[14] - Cash received from sales of goods and services was approximately ¥8.07 billion, compared to ¥8.69 billion in the same period last year[14] - Cash and cash equivalents decreased to CNY 12,818,371,932 from CNY 14,597,590,313 year-over-year[8] - The company's cash and cash equivalents at the end of Q1 2022 stood at approximately ¥10.07 billion, down from ¥11.35 billion at the end of Q1 2021[15] Assets and Liabilities - The total assets at the end of the reporting period were RMB 46,988,567,972, a slight increase of 0.91% from the end of the previous year[3] - Total liabilities decreased to 22,012,833,646 from 22,769,313,149, a reduction of approximately 3.32%[10] - Total equity increased to 24,975,734,326 from 23,793,691,342, reflecting a growth of 4.97%[10] - The company's inventory decreased significantly to CNY 2,569,558,659 from CNY 3,492,997,857[9] - Total non-current assets increased to CNY 17,889,391,964 from CNY 17,604,385,081[9] - Short-term borrowings surged to CNY 743,828,661 from CNY 245,780,575[9] - Accounts payable increased to CNY 3,634,507,468 from CNY 3,127,872,424[9] - Contract liabilities decreased to CNY 5,993,637,031 from CNY 8,123,275,272[9] Research and Development - Research and development expenses increased by 49.33% due to higher investment in new product development[5] - Research and development expenses for Q1 2022 were 5,802,826, up 49.3% from 3,885,806 in Q1 2021[12] Government Support and Market Strategy - The company received government subsidies amounting to RMB 85,255,217 related to daily operations[4] - The company is actively expanding its market presence, particularly focusing on the Beijing 2022 Winter Olympics to enhance brand influence[3] Shareholder Information - The company reported a total of 68,983,919 shares held by its subsidiaries, representing approximately 5.06% of the total share capital[7] - The company did not participate in margin financing or securities lending during the reporting period[7]

Financial Performance - The company's operating revenue for Q1 2022 was RMB 9,208,137,288, representing a year-on-year increase of 3.14%[4] - Net profit attributable to shareholders was RMB 1,126,228,090, up 10.20% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,021,784,840, reflecting a growth of 17.14% year-on-year[4] - The total sales volume for the company reached 2.129 million kiloliters, with the main brand Tsingtao Beer achieving a sales volume of 1.304 million kiloliters, an increase of 5.1% year-on-year[5] Cash Flow - The net cash flow from operating activities decreased by 62.14% to RMB 933,619,727 due to factors such as the recognition of pre-received payments as operating revenue[8] - The net cash flow from investing activities increased by 5,524,387 thousand yuan year-on-year, primarily due to the net investment in financial investment business by the company's wholly-owned subsidiary and a decrease in reserves deposited with the central bank[9] - The net cash flow from financing activities increased by 564,004 thousand yuan year-on-year, mainly due to interbank borrowing by the company's wholly-owned subsidiary[9] Assets and Equity - The company's total assets at the end of the reporting period were RMB 46,988,567,972, a slight increase of 0.91% from the previous year[5] - The equity attributable to shareholders increased by 5.03% to RMB 24,158,557,594 compared to the end of the previous year[5] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,277, including 61,029 A-share shareholders and 248 H-share shareholders[9] - The top shareholder, Hong Kong Central Clearing Limited, holds 613,927,619 shares, accounting for 45.00% of the total shares[10] - Qingdao Beer Group Limited, the second-largest shareholder, holds 443,467,655 shares, representing 32.50% of the total shares[10] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 77%[10] - The company has not identified any related party relationships or concerted actions among the top ten shareholders[12] - As of the end of the reporting period, Fosun International Limited's subsidiaries collectively held 68,983,919 H-shares, accounting for approximately 5.06% of the total share capital[12] - The company has not disclosed any participation in margin financing and securities lending by the top ten shareholders during the reporting period[12] Market Impact and Strategy - The company faced significant impacts on beer sales due to the COVID-19 pandemic starting in March 2022, affecting the domestic beer consumption market[6] - The company continues to focus on high-quality development strategies and market expansion, particularly leveraging the brand's advantages during the Beijing 2022 Winter Olympics[6] Research and Development - Research and development expenses increased by 49.33% due to investments in new product development[7] Financial Disclosure - The unaudited financial statements as of March 31, 2022, are available on the Shanghai Stock Exchange and the company's website[14]

Financial Performance - Tsingtao Brewery reported an operating profit of RMB 4,454.955 million for the year ended December 31, 2021[12]. - The total profit for the company was RMB 4,478.975 million, with a net profit attributable to shareholders of RMB 3,155.456 million after deducting non-recurring profits[12]. - Revenue for 2021 reached RMB 30,166,805, an increase from RMB 27,759,711 in 2020, representing an 8.1% growth[14]. - Net profit attributable to shareholders of the Company was RMB 3,155,456, up from RMB 2,201,324 in 2020, marking a 43.4% increase[14]. - Basic earnings per share increased to 2.328 from 1.629 in the previous year, reflecting a 42.9% rise[14]. - The Company reported a net profit after deduction of non-recurring profit or loss of RMB 2,206,584, up from RMB 1,815,585 in 2020[14]. - The company's operating revenue for 2021 was RMB 30.17 billion, representing an 8.7% year-on-year growth, while net profit attributable to shareholders was RMB 3.16 billion, up 43.3% year-on-year[24]. - The total sales amount from the Company's top 5 clients in 2021 was approximately RMB2,059.64 million, accounting for 6.94% of the annual sales amount, an increase from 4.89% in 2020[37]. - The total purchase amount from the Company's top 5 suppliers in 2021 was approximately RMB2,109.42 million, representing 15.51% of the annual purchase amount, up from 13.05% in 2020[37]. Brand and Market Position - Tsingtao Beer maintained the top brand value in the Chinese beer industry at RMB 198.566 billion in 2021, with the total brand value of its brands exceeding RMB 300 billion[10]. - The company has expanded its business to over 100 countries and regions globally, enhancing its marketing and sales network[10]. - The company is focusing on expanding its high-end and super high-end market presence, responding to the trend of consumption upgrading in the domestic beer market[26]. - The company reported a year-on-year growth of 11.2% in overseas market sales despite the severe impact of the global pandemic on consumption[29]. Product Development and Innovation - The company has launched several new products, including "Century Legend," "Amber Lager," and "Tsingtao IPA," which cater to high-end market demands[10]. - The company is advancing its digital transformation, establishing a quality management model based on end-to-end digital decoding, and enhancing management efficiency through technology integration[30]. - The company launched the "Tsingtao Beer Winter Olympics Ice Can" as part of its sponsorship of the Beijing 2022 Winter Olympic Games, receiving positive consumer feedback[28]. - In 2021, the company achieved a product sales volume of 7.93 million kiloliters, with Tsingtao Beer sales reaching 4.329 million kiloliters, an increase of 11.6% year-on-year[24]. Cash Flow and Assets - The net cash flows from operating activities amounted to RMB 2,206.584 million[12]. - Net cash flows from operating activities amounted to RMB 6,043,111, compared to RMB 4,953,422 in 2020, indicating a 21.9% increase[14]. - Total assets reached RMB 46,563,004, while total liabilities were RMB 22,769,313, resulting in total equity attributable to shareholders of RMB 23,001,845[14]. Shareholder Information - The total number of ordinary shares increased to 1,364,354,793, reflecting a change of 171,998 shares or 0.01%[53]. - The number of shareholders at the end of the reporting period was 36,590, including 36,340 A-share holders and 250 H-share holders[55]. - The top shareholder, HKSCC Nominees Limited, held 613,913,619 shares, representing 45.00% of total shares[58]. - The Company reported undistributed profits of approximately RMB8,298.28 million as of the end of 2021, which can be distributed as dividends after statutory surplus reserve allocation[49]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions, except for specific provisions A.2.1 and E.1.2 during the reporting period[148]. - The Board of Supervisors found that all directors and senior management fulfilled their duties diligently and in compliance with laws and regulations[134]. - The Company has established an effective internal control system that is being implemented effectively, as reflected in the internal control evaluation and audit reports[142]. - The Board of Directors has established three professional committees to enhance decision-making efficiency and promote effective corporate governance[146]. Employee Management and Development - The company had a total of 32,947 full-time employees as of the end of the reporting period, with 14,482 in production, 10,479 in sales, and 2,084 in technical roles[90]. - The company implemented a performance-driven incentive mechanism, linking total salaries to business performance, which resulted in increased employee income levels[91]. - A total of 27,500 front-line staff participated in skill learning and competitions under the new training model introduced by the company[95]. - The company accelerated the development of digital training, offering 3,500 high-quality courses and over 2,500 practical cases for employee learning[95]. Environmental and Social Responsibility - The Company is committed to environmental protection and sustainable development, focusing on low-carbon management and circular economy as part of its strategic goals[44]. - The Company strictly monitors environmental facilities and pollutant discharge during production to ensure compliance with environmental standards[45]. - The Company did not make any charitable donations during the year, except as disclosed in the financial statements[118].

Financial Performance - The total revenue for 2021 was RMB 27,759,710,926, representing an increase of 8.67% compared to 2020[16]. - The net profit attributable to shareholders for 2021 was RMB 2,201,323,556, reflecting a growth of 43.34% year-over-year[16]. - The net profit after deducting non-recurring gains and losses was RMB 1,815,584,753, which is a 21.54% increase from the previous year[16]. - The total revenue for 2021 reached RMB 30,166.81 million, an increase of 8.67% compared to RMB 27,759.71 million in the previous year[27]. - The net profit attributable to shareholders reached RMB 3.16 billion, an increase of 43.3% compared to the previous year[23]. - The basic earnings per share rose to RMB 2.328, reflecting a growth of 42.91% year-on-year[18]. - The company reported a net profit of RMB 3.26 billion, representing a 40% increase compared to RMB 2.33 billion in 2020[184]. - The operating profit for 2021 was RMB 4.45 billion, up 37% from RMB 3.25 billion in 2020[184]. Cash Flow and Investments - The net cash flow from operating activities reached RMB 4,953,422,362, up by 22.00% compared to 2020[16]. - The company reported a net cash flow from operating activities of RMB 6,043,111,455, an increase of 21.9% compared to RMB 4,953,422,362 in 2020[186]. - The total cash inflow from investment activities was RMB 14,497,489,422, significantly up from RMB 2,946,320,994 in 2020[186]. - The net cash flow from investment activities was RMB (10,249,763,562), compared to RMB (1,487,738,165) in the previous year, indicating a substantial increase in cash outflows[186]. - The company has a total of RMB 2,150,000,000 in financial products and RMB 7,700,000,000 in structured deposits[138]. Assets and Liabilities - The total assets as of the end of 2021 were RMB 46,563,004,491, marking a 12.16% increase from the end of 2020[17]. - The total liabilities and shareholders' equity reached RMB 46.56 billion, an increase from RMB 41.51 billion in the previous year, reflecting a growth of approximately 12.3%[182]. - The total current liabilities amounted to RMB 18.26 billion, up from RMB 15.51 billion, indicating a year-over-year increase of about 17.7%[182]. - The company's total shareholders' equity rose to RMB 23.79 billion, compared to RMB 21.37 billion, marking an increase of around 11.3%[182]. Market and Sales Performance - The company sold 7.93 million kiloliters of products in 2021, with the main brand Tsingtao beer achieving a sales volume of 4.329 million kiloliters, up 11.6% year-on-year[23]. - The company's overseas market sales grew by 11.2% despite the challenges posed by the global pandemic[23]. - The revenue from the Shandong region was RMB 19,747.06 million, with a growth rate of 9.55%[29]. - The sales volume in the Shandong region accounted for 66.55% of total sales revenue, with a revenue of RMB 19,747,061 thousand, up 9.55% year-on-year[58]. Research and Development - The company's R&D expenses rose by 43.90% to RMB 30.89 million, driven by increased investment in new product development[27]. - The company has 629 R&D personnel, accounting for 1.91% of the total workforce[36]. - The company has initiated a digital training program, providing over 35,000 courses and case studies to enhance employee skills[97]. Corporate Governance and Management - The audit report for the financial statements was issued by PwC with a standard unqualified opinion[2]. - The company has maintained stable shareholding among its top executives, with no significant changes in shareholdings during the reporting period[72]. - The company has established specialized committees under the board, including audit, nomination, compensation, and strategy committees, to enhance governance[88]. - The company has appointed new independent directors to strengthen governance and oversight, enhancing stakeholder confidence[84]. Environmental Compliance - The company has complied with environmental protection standards, with all wastewater discharge from its breweries meeting regulatory limits[110]. - The company has achieved compliance with the beer industry pollutant discharge standards, with all 17 production plants responding positively to the revised standards[116]. - The company is actively engaged in environmental protection efforts, sharing value with downstream wastewater treatment facilities by utilizing brewery wastewater as a carbon source[117]. Future Outlook - In 2022, the company anticipates challenges from rising raw material prices and increased competition, but remains confident in its ability to improve market operations and profitability[67]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[183]. - The company aims to strengthen its market position in both base and emerging markets, enhancing brand influence through immersive marketing strategies[66].

Financial Performance - The company's revenue for Q3 2021 was RMB 8,480,230,687, a decrease of 3.01% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was RMB 1,195,276,604, an increase of 6.43% year-on-year[4] - The total product sales volume reached 7.082 million kiloliters in the first three quarters, a year-on-year increase of 2.02%, with the main brand Qingdao Beer achieving a 13.05% increase[5] - The company achieved a net profit of RMB 3,610,797,933 for the first three quarters, reflecting a year-on-year growth of 21.25%[5] - The diluted earnings per share for Q3 2021 was RMB 0.881, an increase of 6.14% compared to the same period last year[5] - Total revenue for the first three quarters of 2021 reached ¥26,771,391,438, an increase of 9.6% compared to ¥24,422,079,478 in the same period of 2020[17] - Net profit for the first three quarters of 2021 was ¥3,717,393,271, representing a 19.5% increase from ¥3,111,124,025 in the same period of 2020[18] - Total comprehensive income for Q3 2021 reached ¥3,718,594,865, compared to ¥3,114,218,076 in Q3 2020, indicating an increase of about 19.4%[19] Assets and Liabilities - Total assets at the end of the reporting period were RMB 45,328,578,511, representing a 9.19% increase from the end of the previous year[5] - As of September 30, 2021, total current assets amounted to RMB 27,997,626,869, an increase from RMB 24,628,119,678 at the end of 2020[14] - The company's total assets increased to ¥45,328,578,511, up from ¥41,514,185,835, marking a growth of 9.4%[16] - Total liabilities rose to ¥21,114,743,591, compared to ¥20,146,133,669, indicating an increase of 4.8%[16] - Deferred income increased to ¥3,024,050,325 from ¥2,899,626,024, showing a growth of 4.3%[16] Cash Flow - The company’s cash flow from operating activities for the year-to-date period was RMB 6,163,656,772, reflecting a 4.22% increase year-on-year[4] - Cash flow from operating activities for the first three quarters of 2021 was ¥6,163,656,772, compared to ¥5,913,994,981 in the same period of 2020, showing an increase of about 4.2%[20] - Cash inflow from investment activities in the first three quarters of 2021 was ¥5,681,835,106, significantly higher than ¥1,604,584,556 in the same period of 2020[20] - Cash outflow from investment activities for the first three quarters of 2021 was ¥22,294,680,433, compared to ¥2,545,330,480 in the same period of 2020, indicating a substantial increase[21] - Net cash flow from financing activities for Q3 2021 was -¥579,698,124, an improvement compared to -¥775,120,942 in Q3 2020[21] - The ending balance of cash and cash equivalents as of Q3 2021 was ¥6,609,921,893, down from ¥18,746,760,231 at the end of Q3 2020[21] Shareholder Information - Total number of common stock shareholders at the end of the reporting period was 63,977, including 63,726 A-share holders and 251 H-share holders[10] - The largest shareholder, Hong Kong Central Clearing (Agent) Limited, holds 613,909,619 shares, representing 44.99% of total shares[10] - Qingdao Beer Group Limited, the second largest shareholder, holds 443,467,655 shares, accounting for 32.50% of total shares[10] - The total number of shares held by the top ten shareholders includes 38,335,600 H-shares held by subsidiaries of Fosun International Limited[11] - The company has not disclosed any related party transactions among the top ten shareholders[11] Research and Development - Research and development expenses for the first three quarters were ¥13,434,259, up from ¥11,455,480, reflecting a year-over-year increase of 17.3%[18] Other Financial Metrics - The company reported a significant increase in other current assets by 1,119.19%, mainly due to the development of financial interbank deposit business[8] - The company received government subsidies amounting to RMB 445,239,099 during the year-to-date period, which are closely related to its normal business operations[6] - Cash and cash equivalents decreased to RMB 9,471,202,161 from RMB 18,466,880,608 year-over-year[14] - Inventory decreased significantly to RMB 1,853,085,937 from RMB 3,281,033,526 year-over-year[14] - The company reported a total of 9,516,505,218 in trading financial assets, up from 1,888,862,835 in the previous year[14] - The company did not participate in margin financing or securities lending during the reporting period[11] - The company did not apply the new lease accounting standards starting in 2021[22]

Financial Performance - For the six months ended June 30, 2021, the total revenue was RMB 18.29 billion, representing an increase of 10.3% compared to RMB 15.68 billion for the same period in 2020[6]. - The net profit for the same period was RMB 2.49 billion, up 28.3% from RMB 1.94 billion in the previous year[6]. - The operating profit increased to RMB 3.28 billion, compared to RMB 2.58 billion in the first half of 2020, reflecting a growth of 27.4%[6]. - The company reported a basic earnings per share of RMB 1.78, an increase from RMB 1.37 in the previous year[6]. - The total comprehensive income attributable to shareholders of the parent company was RMB 2.42 billion, compared to RMB 1.85 billion in the same period of 2020[6]. - The company's main business revenue for the six months ended June 30, 2021, was RMB 18,031,065,721, an increase from RMB 15,569,515,965 for the same period in 2020, representing a growth of approximately 15.8%[182]. - The company's total revenue for the six months ended June 30, 2021, was RMB 18,291,160,751, compared to RMB 15,678,991,336 for the same period in 2020, reflecting a growth of approximately 16.5%[182]. - The company reported a net profit attributable to the parent company's shareholders for the six months ended June 30, 2021, of RMB 2,415,521,329, compared to RMB 2,201,323,556 for the same period in 2020, indicating a growth of approximately 9.7%[180]. Assets and Liabilities - As of June 30, 2021, total assets amounted to RMB 45.24 billion, an increase from RMB 41.51 billion as of December 31, 2020, representing a growth of approximately 6.6%[4]. - Total liabilities increased to RMB 22.28 billion from RMB 20.15 billion, reflecting a rise of approximately 10.6%[5]. - The company's total equity rose to RMB 22.96 billion, up from RMB 21.37 billion, indicating an increase of about 7.4%[5]. - The company's cash and cash equivalents decreased to RMB 9.32 billion from RMB 18.47 billion, a decline of about 49.5% year-over-year[4]. - The total cash and cash equivalents at the end of June 30, 2021, amounted to RMB 6,846,715,666, a decrease from RMB 18,065,659,709 at the end of June 30, 2020[8]. - The company’s total liabilities as of June 30, 2021, were significantly impacted by an increase in accounts payable for materials and packaging, which reached 3,106,775,701[148]. Cash Flow - Cash flow from operating activities was RMB 5.02 billion, slightly up from RMB 4.96 billion in the same period last year[7]. - The company’s cash inflow from operating activities totaled RMB 19.55 billion, compared to RMB 17.17 billion in the previous year[7]. - The company’s cash outflow for investing activities was RMB 17.51 billion, significantly higher than RMB 1.87 billion in the same period of 2020[7]. - The company’s investment activities generated a net cash flow of RMB -15.48 billion, compared to RMB -775 million in the previous year[7]. - The net increase in cash and cash equivalents for the first half of 2021 was RMB 10,796,407,758, compared to an increase of RMB 3,508,266,354 for the same period in 2020[8]. Inventory and Receivables - Inventory levels decreased to RMB 2.21 billion from RMB 3.28 billion, a reduction of approximately 32.4%[4]. - The company reported a significant increase in other receivables, which rose to RMB 128.67 million from RMB 73.89 million, an increase of approximately 74.5%[4]. - Accounts receivable as of June 30, 2021, stood at approximately 378.59 million, up from 302.94 million on December 31, 2020, with a bad debt provision of 181.33 million[89]. - The total amount of the top five receivables as of June 30, 2021, is 111,249,731, accounting for 56% of total receivables[95]. - The inventory balance as of June 30, 2021, is 2,217,118,050, with a provision for inventory write-down of 3,477,079[103]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration, such as short-term salaries, post-employment benefits, and termination benefits[58]. - Short-term compensation includes wages, bonuses, and various employee benefits, recognized as liabilities during the accounting period[59]. - The company provides post-employment benefits classified into defined contribution plans and defined benefit plans, with specific obligations recognized as liabilities[60]. - The total employee compensation liabilities decreased slightly from 1,906,199,446 as of December 31, 2020, to 1,873,598,111 as of June 30, 2021[151]. - The company recognized service costs of CNY 158,203,598 in the current period for supplementary post-employment benefits[166]. Research and Development - Research and development efforts are focused on new product innovations to meet changing consumer preferences and enhance competitive advantage[3]. - The company incurred research and development expenses totaling approximately 6.69 million for the six months ended June 30, 2021, which were fully expensed in the period[135]. - The company is focusing on research and development of new technologies to enhance product offerings and maintain competitive advantage in the market[197]. Strategic Initiatives - The company plans to enhance its market presence through strategic acquisitions and partnerships in the upcoming quarters[3]. - Strategic initiatives include potential mergers and acquisitions to bolster market presence and diversify product lines[197]. - Future outlook remains positive with expectations of continued revenue growth driven by market expansion and new product launches[197]. Taxation and Deferred Income - The corporate income tax rates applicable to the company range from 3% to 25%, depending on the taxable income[81]. - The company reported a significant increase in corporate income tax payable to 579,867,385 as of June 30, 2021, compared to 246,490,851 on December 31, 2020, representing a growth of approximately 134%[155]. - Deferred revenue increased to CNY 2,958,428,519 as of June 30, 2021, up from CNY 2,899,626,024 at the end of 2020, reflecting a growth of approximately 2.0%[162]. Impairment and Provisions - The impairment loss on fixed assets recognized by the company for the six months ended June 30, 2021, was 5,826 yuan, compared to 1,538,581 yuan for the same period in 2020[77]. - The company conducts annual impairment tests on goodwill, with recoverable amounts determined based on the present value of expected future cash flows[76]. - The company’s goodwill impairment provision remained unchanged at 1,504,514,721 as of December 31, 2020[136]. Shareholder Information - The company declared a cash dividend of RMB 0.75 per share for 2020, totaling RMB 1,023,357,596, based on 1,364,476,795 shares issued[180]. - The company’s payable for dividends surged to 1,024,247,817 as of June 30, 2021, compared to just 11,700,168 at the end of 2020, marking an increase of over 8,600%[156].