Financial Performance - The company's operating revenue for 2023 was RMB 33,936,522,741, representing a 5.49% increase from RMB 32,171,565,624 in 2022[15] - The net profit attributable to shareholders for 2023 was RMB 4,267,851,406, a 15.02% increase compared to RMB 3,710,628,593 in 2022[15] - The basic earnings per share for 2023 were RMB 3.139, reflecting a 14.73% increase from RMB 2.736 in 2022[16] - The diluted earnings per share for 2023 were RMB 3.132, up 14.81% from RMB 2.728 in 2022[16] - The net profit after deducting non-recurring gains and losses for 2023 was RMB 3,720,724,776, a 15.94% increase from RMB 3,209,052,175 in 2022[15] - The total operating revenue amounted to 33,405,795 thousand RMB, while the operating cost was 20,540,617 thousand RMB[63] - The gross profit margin for beer products was 38.51%, with a year-on-year increase of 1.73 percentage points[30] - The company reported a significant increase in revenue, achieving a total of 12 billion RMB, representing a year-over-year growth of 15%[88] Cash Flow and Assets - The net cash flow from operating activities decreased by 43.07% to RMB 2,777,567,140 in 2023 from RMB 4,878,771,322 in 2022[15] - The total assets of the company at the end of 2023 were RMB 49,256,011,349, a decrease of 2.10% from RMB 50,311,699,796 at the end of 2022[15] - The net cash flow from operating activities decreased by 43.07% year-on-year, attributed to increased brand promotion and higher tax payments[28] - The company's total assets at the end of the period were significantly impacted by a 100% decrease in notes receivable, which was CNY 4,500 last year[43] Market and Sales Performance - The company sold 8.007 million kiloliters of products during the reporting period[22] - The sales volume of the main brand, Tsingtao Beer, increased by 2.7% to 4.56 million kiloliters, with mid-to-high-end products growing by 10.5%[22] - The company operates 57 wholly-owned and controlling breweries across 20 provinces in China, maintaining a leading market share in the domestic beer industry[23] - The company expanded its international market presence, selling products in 120 countries and regions[22] - The sales volume in Shandong region accounted for 68.45% of total sales revenue, with RMB 22.87 billion generated from this region[57] Research and Development - Research and development expenses surged by 59.86% year-on-year, reflecting increased investment in new product development[27] - The number of R&D personnel is 788, accounting for 2.49% of the total workforce[40] - The company invested RMB 600 million to establish a leading technology R&D center in the global brewing field[24] Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations[81] - The company’s independent directors played a crucial role in reviewing and supporting board decisions on various matters, including financial reports and feasibility studies[80] - The company has not faced any major changes in competition or business operations that would affect its independence[81] Environmental Responsibility - The company is committed to ongoing monitoring and improvement of its wastewater management practices to align with national standards[128] - The company has established a mechanism for environmental protection and is classified as a key pollutant discharge unit[123] - The company reported wastewater treatment results with COD levels ranging from 8.06 to 2,776.23 mg/L, indicating compliance with environmental standards[129] - The company achieved a reduction of 290,500 tons in carbon dioxide equivalent emissions through various carbon reduction measures[146] - The company signed agreements for wastewater value-sharing projects with a total of 34 factories, contributing to resource utilization and carbon reduction[145] Shareholder Information - The total number of shares held by directors and senior management at the end of the reporting period was 826,934 shares, with a total pre-tax remuneration of 1.70 million yuan[86] - The total number of ordinary shareholders was 64,451, an increase from 60,995 at the end of the previous month, representing a growth of approximately 7.5%[185] - The top ten shareholders hold a total of 1,155,000,000 shares, accounting for 86.01% of the total shares, with the largest shareholder, Hong Kong Central Clearing Limited, holding 613,993,719 shares, or 45.01%[187] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 15%[88] - New product launches are expected to contribute an additional 1 billion RMB in revenue, with a focus on innovative beer flavors[89] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[88] Investment and Expansion - The investment budget for the new 1 million kiloliter pure draft beer base project at Qingdao Beer Second Factory is approximately RMB 666.65 million, with construction expected to start in March 2024[177] - The investment budget for the new 1 million kiloliter craft beer base and 2,500 tons whiskey project at Qingdao Beer Fifth Factory is approximately RMB 1.35853 billion, with a project team already established[177] - Qingdao Beer acquired 20% equity in Qingdao Beer (Anshan) Co., Ltd. for RMB 18.065 million, increasing its ownership to 80%[178] Employee Engagement and Development - The company has implemented a performance-based salary system, linking employee compensation to overall business performance, aiming to enhance productivity and employee income levels[110] - The company has organized 109 practical research projects throughout the year, focusing on key business challenges and enhancing employee skills[112] - The company has received over 70 national and provincial skill honors, reflecting its commitment to employee training and development[112]

业绩简评 3月 26 日，公司公告，23 年收入339.37 亿元，同比+5.49%；归 母净利 42.68 亿元，同比+15.02%；扣非净利 37.21 亿元，同比 +15.94%。23Q4 收入 29.58 亿元，同比-3.37%；归母净利润-6.40 亿元；扣非净利润-8.76 亿元。 经营分析 Q4 吨收入增速加速至 7.5%，销量承压、结构趋势向好。 23Q4 销量同比-10.1%，青岛/其他品牌/中高端销量同比-3.5%/- 20.6%/+6.4%，销量虽因视频舆论事件承压，但公司主动优化、顶 住压力实现升级（中高端占比+7pct）。 23 年啤酒销售800.7 万吨，同比-0.8%；啤酒吨价+6.3%到4172元。 分产品看，23 年青岛品牌/其他品牌同比+2.7%/-5.1%，中高档同 比+10.5%至 324 万吨（占比+4.1pct 至 40.5%），中低端同比-13%， 类经典向经典切换较顺利。23 年经典、白啤持续快速增长，新推 出的 1L 原浆、1L 水晶纯生高端生鲜产品通过新鲜直达模式满足消 费者对生鲜啤酒的需求。 人民币(元) 成交金额(百万元) 分区域看，23 年山东/华北/ ...

公司研 究 证 券研究 报 告 啤酒 2024年03月27日 青 岛啤酒（600600）2023年报点评 强 推 （维持） 目标价：105元 费用扰动业绩，高端化继续前行 当前价：85.08元 事项： 华创证券研究所  公司发布2023年年报，公司实现营业总收入339.4亿元，同增5.5%；实现归 证券分析师：欧阳予 母净利润42.7亿元，同增15.0%；扣非归母净利润为37.2亿元，同增16.0%； 单Q4公司实现营业总收入29.6亿元，同减3.4%；实现归母净利润-6.4亿元， 邮箱：ouyangyu@hcyjs.com 去年同期-5.6亿元；扣非归母净利润为-8.8亿元，去年同期-6.5亿元。此外， 执业编号：S0360520070001 公司继续维持高分红政策，每股派发现金2.0元，分红率达64%略超预期。 证券分析师：范子盼 评论： 邮箱：fanzipan@hcyjs.com  Q4 淡季受舆论事件影响，但中高端占比仍快速提升。23Q4 公司受视频舆论 执业编号：S0360520090001 事件影响销量同比-10.1%，但淡季结构升级仍在推进，单Q4主品牌销量占比 证券分析师：董广阳 提升 4 ...

Core Viewpoint - The company continues to implement a high-quality development strategy, focusing on technological innovation and digital transformation to enhance management efficiency and promote growth in high-end, intelligent, and green products [1][2]. Group 1: Financial Performance - The company achieved a product sales volume of 8.007 million kiloliters and a revenue of RMB 33.94 billion, representing a year-on-year growth of 5.5% [1]. - The net profit attributable to shareholders reached RMB 4.27 billion, with a year-on-year increase of 15% [1]. - A cash dividend of RMB 2.00 per share (including tax) is proposed [1]. Group 2: Brand Strategy - The company continues to implement a dual-brand strategy with Tsingtao Beer as the main brand and Laoshan Beer as the national second brand, enhancing brand promotion through various marketing activities [1]. - The company focuses on improving brand connection with consumers and upgrading immersive brand experience models [1]. Group 3: Product Development - The company accelerates the development of its product portfolio, optimizing product structure and enhancing competitiveness in the mid-to-high-end market [1]. - Sales of mid-to-high-end products reached 3.24 million kiloliters, growing by 10.5% year-on-year [1]. - New products, including Tsingtao Beer 1-liter premium raw beer and 1-liter crystal pure draft beer, were launched to meet consumer demand for fresh beer [1]. Group 4: International Expansion - The company maintains a high-quality, high-price, and high-visibility positioning in international markets, expanding its distribution network to 120 countries and regions [1]. - The brand's international influence continues to grow, supported by a global strategic layout along the Belt and Road Initiative [1]. Group 5: Digital Transformation - The company views digital transformation as a key driver for high-quality development, implementing data-driven solutions to enhance operational efficiency [2]. - Initiatives include upgrading digital coverage in channels and supply chain networks, leading to breakthroughs in marketing digitalization [2]. Group 6: Innovation and Infrastructure - The company emphasizes innovation and the transition to new growth drivers, focusing on high-quality projects to support development [2]. - The establishment of large-scale, intelligent, and green factories is underway, including a 1 million kiloliter high-end specialty beer production base and a 250,000-ton high-end malt raw material base [2].

证券代码：600600 证券简称：青岛啤酒 公告编号：2024-006 青岛啤酒股份有限公司 第十届监事会第十五次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 青岛啤酒股份有限公司（"公司"）第十届监事会（"监事会"）第十五次 会议（"本次会议"）于 2024 年 3 月 25 日在青岛以现场会议方式召开。公司已 于本次会议前按规定向全体监事发出书面通知，所有会议议案材料均在本次会议 召开前提交全体监事。本次会议应参与表决监事 5 人，实际现场出席监事 5 人。 本次会议的召集和召开符合《中华人民共和国公司法》等法律、行政法规、部门 规章、规范性文件和《青岛啤酒股份有限公司章程》的规定。 二、监事会会议审议情况 本次会议由公司监事会临时召集人李燕女士主持，经全体监事审议表决，通 过了以下议案： 1、审议通过公司 2023 年年度报告（包括经审计的财务报告）。 2、审议通过 2023 年度监事会工作报告。 3、审议通过公司 2023 年度利润分配预案。 4、审议通过聘任德勤华永会计师事务所 ...

公司代码：600600 公司简称：青岛啤酒 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露 内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责 组织领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内 容不存在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别 及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整， 提高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标 提供合理保证。此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程 度降低，根据内部控制评价结果推测未来内部控制的有效性具有一定的风险。 二. 内部控制评价结论 1. 公司于内部控制评价报告基准日，是否存在财务报告内部控制重大缺陷 □是 √否 2. 财务报告内部控制评价结论 青岛啤酒股份有限公司 2023 年度内部控制评价报告 青岛啤酒股份有限公司全体股东： 根据《企业内部控制基本规范》及 ...

环境、社会及管治报告 青岛啤酒股份有限公司 关于本报告 目录 报告范围 本报告是青岛啤酒股份有限公司第十六份可持续发展年 度报告，本报告数据和信息涵盖青岛啤酒股份有限公司 在国内拥有的 57 家全资和控股的啤酒生产企业，及 2 家 联营及合营啤酒生产企业，2023 年 1 月 1 日至 2023 年 12 月 31 日期间各项可持发展实践。基于报告的延续性 和对比性，部分数据和信息不局限于 2023 年。 内容选择 报告内容的选取过程中，青岛啤酒遵循重要性、量化、 一致性、平衡、准确性、有效性、可比性等原则，从环境、 社会及企业管治等多方面进行陈述，重点报告了青岛啤 酒在产品、环境、员工、社区以及商业伙伴等方面的可 持续发展责任。 | 董事长致辞 / 总裁致辞 | 02/03 | | --- | --- | | 可持续发展指标 | 04 | | 关于我们 | 06 | 编制原则 本报告根据《上海证券交易所上市公司自律监管指引第 1 号——规范运作》、香港交易所《主板上市规则》附录 C2 《环 境、社会及管治报告指引》要求，并参考全球报告倡议组织《GRI 可持续发展报告标准》(GRI Standards)、国务 ...

证券代码：600600 证券简称：青岛啤酒 公告编号：2024-005 会议由公司董事长黄克兴先生召集并主持，出席会议的董事经充分讨论以逐项 表决方式一致通过下列议案： 青岛啤酒股份有限公司 第十届董事会第十五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 青岛啤酒股份有限公司（以下简称"公司"）第十届董事会第十五次会议（以下 简称"会议"）通知以书面形式于 2024 年 3 月 12 日发出，所有会议议案材料均在本 次会议召开前提交全体董事。会议于 2024 年 3 月 26 日上午在青啤大厦以现场会议 方式召开，会议应到董事 9 人，参加现场会议的董事 8 人，独立董事肖耿通过接入 视频会议软件方式参加，会议有效行使表决权票数 9 票。公司监事和董事会秘书列 席了会议，会议的召集、召开程序符合《中华人民共和国公司法》等法律、行政法 规、部门规章、规范性文件和《青岛啤酒股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，会议合法、有效。 1 一、审议通过公司 2023 年年度报告（包括 2023 年度 ...

青岛啤酒股份有限公司 2023 年度独立董事述职报告 本人姜省路，作为青岛啤酒股份有限公司（以下简称"公司"）第十届董事 会独立董事，在 2023 年，严格按照《中华人民共和国公司法》、中国证监会《上 市公司独立董事管理办法》以及《青岛啤酒股份有限公司独立董事制度》等有关 法律、法规和制度规定，积极出席公司独立董事专门会议、董事会及专门委员会 会议，仔细审议董事会各项议案，审慎、认真、勤勉地履行了独立董事职责。现 将本人在 2023 年度履行独立董事职责情况报告如下： 一、 独立董事的基本情况 2021 年 6 月 28 日，公司召开 2020 年年度股东大会，选举本人为公司第十 届董事会独立董事。本人同时在董事会下设的审计与内控委员会和提名与薪酬委 员会中出任委员，且为提名与薪酬委员会的主席。本人简历详见公司 2023 年年 度报告。本人已按要求向董事会提交了关于 2023 年度独立董事独立性情况的自 查报告，确认本人不存在可能影响独立性的情况。 二、独立董事年度履职情况 （二）出席董事会专门委员会会议情况 2023 年度，本人出席董事会专门委员会会议的情况如下： 本人以现场或通过视频通讯方式参加了各专门委 ...

（二） 2023 年 10 月 26 日，第十届董事会审计与内控委员会召开 2023 年第五次会议，就 2023 年度年报审计工作的审计范围、审计方案、独立 性、审计团队架构等相关事项进行了沟通，并讨论通过了 2023 年度审计计 划。 青岛啤酒股份有限公司 董事会审计与内控委员会对会计师事务所 2023 年度履行监督职责情况的报告 青岛啤酒股份有限公司（以下简称"本公司"或"公司"）聘请普华永 道中天会计师事务所（特殊普通合伙）（以下简称"普华"）为本公司 2023 年度的财务报告及内部控制审计机构。根据《国有企业、上市公司选聘会 计师事务所管理办法》的要求，本公司董事会审计与内控委员会切实对普 华 2023 年度的审计工作情况履行了监督职责，具体情况如下： （一） 审计与内控委员会对普华的审计费用报价、资质条件、执业记 录、质量管理水平、工作方案、人力及其他资源配备、信息安全管理、风 险承担能力等进行了严格核查和评价，认为其具备为本公司提供审计工作 应有的资质和专业能力，投资者保护能力，独立性及良好的诚信状况，能 够满足本公司审计工作的要求。 （五） 经对本公司 2023 年度会计师事务所履职情况进行监督 ...