Financial Performance - In Q1 2023, the company achieved operating revenue of RMB 10.71 billion, representing a year-on-year increase of 16.27%[4] - The net profit attributable to shareholders was RMB 1.45 billion, up 28.86% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached RMB 1.35 billion, reflecting a growth of 32.07% year-on-year[4] - The net cash flow from operating activities was RMB 1.81 billion, an increase of 94.29% year-on-year[4] - Total operating revenue for Q1 2023 reached ¥10,706,181,672, an increase of 16.3% compared to ¥9,208,137,288 in Q1 2022[18] - Net profit for Q1 2023 was ¥1,473,322,258, representing a growth of 28.0% from ¥1,152,465,765 in Q1 2022[19] - Earnings per share for Q1 2023 were ¥1.071, up from ¥0.834 in Q1 2022, reflecting a 28.5% increase[20] - The company reported a profit before tax of ¥1,963,744,840 for Q1 2023, compared to ¥1,521,143,687 in Q1 2022, reflecting a growth of 29.1%[19] Sales and Volume - The total product sales volume for Q1 2023 was 2.363 million kiloliters, a year-on-year increase of 11.02%[5] - The sales volume of the main brand, Tsingtao Beer, was 1.401 million kiloliters, growing by 7.45% year-on-year[5] - The sales volume of mid-to-high-end products reached 984,000 kiloliters, marking an increase of 11.55% year-on-year[5] Assets and Liabilities - The total assets at the end of the reporting period were RMB 50.14 billion, a slight decrease of 0.35% from the previous year-end[5] - As of March 31, 2023, the total assets of Qingdao Beer Co., Ltd. amounted to CNY 50,136,236,052, a slight decrease from CNY 50,311,699,796 at the end of 2022[14] - The company's current assets totaled CNY 31,866,026,602, compared to CNY 32,002,483,239 in the previous year, indicating a decrease of approximately 0.43%[15] - The total liabilities of the company were not explicitly detailed, but short-term borrowings were CNY 221,057,001, slightly down from CNY 225,411,423[15] - Total liabilities decreased to ¥22,366,560,637 in Q1 2023 from ¥24,039,387,261 in Q1 2022, a reduction of 6.9%[17] - The company's total equity increased to ¥27,769,675,415 in Q1 2023, compared to ¥26,272,312,535 in Q1 2022, marking a growth of 5.7%[17] Cash Flow - The company reported a significant increase in trading financial assets, rising from CNY 2,683,817,846 to CNY 7,244,076,067, an increase of approximately 169.99%[14] - In Q1 2023, the company reported cash inflows from operating activities totaling CNY 9,325,415,046, an increase of 13.2% compared to CNY 8,239,447,145 in Q1 2022[21] - The net cash flow from operating activities for Q1 2023 was CNY 1,813,957,743, significantly up from CNY 933,619,727 in Q1 2022, representing a growth of 94.5%[22] - Cash outflows for operating activities amounted to CNY 7,511,457,303 in Q1 2023, compared to CNY 7,305,827,418 in Q1 2022, reflecting a slight increase of 2.8%[22] - The company experienced a net cash outflow from investing activities of CNY 4,190,214,856 in Q1 2023, worsening from a net outflow of CNY 3,160,394,368 in Q1 2022[22] - Total cash inflows from investing activities were CNY 2,455,993,633 in Q1 2023, down from CNY 3,518,085,238 in Q1 2022, indicating a decline of 30.2%[22] - The company reported a net cash outflow from financing activities of CNY 16,424,616 in Q1 2023, contrasting with a net inflow of CNY 486,024,359 in Q1 2022[22] - The ending balance of cash and cash equivalents as of the end of Q1 2023 was CNY 10,444,423,063, compared to CNY 10,071,667,247 at the end of Q1 2022, showing an increase of 3.7%[23] Strategic Focus - The company's strategy focuses on high-quality development, market expansion, and digital transformation to leverage brand and quality advantages[5] - Research and development expenses rose to ¥10,698,515 in Q1 2023, up from ¥5,802,826 in Q1 2022, indicating an increase of 84.5%[18] Shareholder Information - The top shareholder, Qingdao Beer Group, holds a total of 443,467,655 shares, which includes 38,335,600 H shares held through its subsidiary[12]

Brand Value and Market Position - Tsingtao Beer brand value reached RMB 218.225 billion in 2022, maintaining its top position in the Chinese beer industry[8][9] - The total brand value of Tsingtao Beer, Laoshan Beer, Hans Brewery, The World of Tsingtao, Prince, and Tsingtao1903 exceeded RMB 340 billion[8][9] - Tsingtao Beer products are sold in over 100 countries and regions worldwide[6] Financial Performance - The company's operating profit for 2022 was RMB 5,000,925 thousand[15] - Net profit attributable to shareholders of the company was RMB 3,710,629 thousand in 2022[15] - Net cash flows from operating activities amounted to RMB 4,878,771 thousand in 2022[15] - Revenue for 2022 reached RMB 32,171,566 thousand, showing an increase compared to previous years[17] - Total profit for 2022 was RMB 5,006,141 thousand, reflecting growth from RMB 4,478,975 thousand in 2021[17] - Net profit attributable to shareholders of the Company in 2022 was RMB 3,710,629 thousand, up from RMB 3,155,456 thousand in 2021[17] - Basic earnings per share for 2022 stood at 2.736, compared to 2.328 in 2021[17] - Fully diluted return on net assets for 2022 was 14.55%, up from 13.72% in 2021[17] - Net cash flows from operating activities in 2022 were RMB 4,878,771 thousand, down from RMB 6,043,111 thousand in 2021[17] - Total assets for 2022 increased to RMB 50,311,700 thousand from RMB 46,563,004 thousand in 2021[17] - Total liabilities for 2022 were RMB 24,039,387 thousand, up from RMB 22,769,313 thousand in 2021[17] - The company's operating revenue reached RMB32.17 billion in 2022, a 6.65% year-on-year increase[27][29] - Net profit attributable to shareholders was RMB3.71 billion, up 17.6% year-on-year[27][29] - The company's net profit after deducting non-recurring profit/loss was RMB3.21 billion, up 45.4% year-on-year[28][29] - Total beer sales volume in 2022 reached 8.072 million kiloliters, with revenue of RMB32.17 billion and net profit attributable to shareholders of RMB3.71 billion[36][37] Production and Operations - The company operates 57 wholly-owned and controlling breweries and 2 associated and joint-investment breweries across 20 provinces in China[6] - The company invested in the Tsingtao Brewery Scientific and Technological R&D Center, which includes the State Key Laboratory of Biological Fermentation Engineering of Beer[10] - The company launched several new products, including Century Legend, Tsingtao Centennial Journey, Amber Lager, and Tsingtao IPA, to drive high-end beer consumption trends[11][12] - The company has strengthened its market operations and profitability by improving its sales network and customer service capabilities[13] - The company achieved a product sales volume of 8.072 million kiloliters in 2022, up 1.8% year-on-year[25][27] - Overseas market product sales volume increased by 4% year-on-year in 2022[28][29] - The domestic beer market produced 35.687 million kiloliters in 2022, up 1.1% year-on-year[25][26] - The company focused on mid-to-high-end product development and improved product quality through innovation and R&D[31] - Tsingtao Beer's core brand sales volume reached 4.44 million kiloliters, up 2.6% year-on-year, with mid-to-high-end product sales volume at 2.93 million kiloliters, up 4.99% year-on-year[32][33] - The company accelerated digital and intelligent transformation, completing the Tsingtao Brewery Industry Park 1.2 million kiloliter expansion project, enhancing supply chain and production efficiency[34] Dividends and Shareholder Returns - The company proposed a final dividend of RMB1.30 per share and a special dividend of RMB0.50 per share, totaling RMB1.80 per share for 2022[23][24] - The company proposed a final dividend of RMB1.30 per share and a special dividend of RMB0.50 per share, totaling RMB1.80 per share, to celebrate the 120th anniversary of Tsingtao Beer[42][43] Environmental and Social Responsibility - The Company's environmental performance improved in 2022, with strict monitoring of pollutant discharge ensuring stable and up-to-standard emissions[46] Shareholder and Equity Information - Share capital decreased due to the repurchase and cancellation of restricted shares held by retired or resigned incentive participants[19] - Capital surplus increased mainly due to the grant of restricted shares under the Incentive Plan[20] - A total of 4,359,428 restricted shares held by 619 eligible participants were unlocked on 25 July 2022[50] - The Company repurchased and canceled 122,003 restricted shares held by 14 participants on 9 December 2022[50] - The number of shares held by the public satisfied the public float requirements in the Listing Rules[51] - The total number of ordinary shares decreased by 122,003 to 1,364,232,790 at the end of the reporting period[57] - The Company had 26,260 shareholders at the end of the reporting period, including 26,013 A-share holders and 247 H-share holders[59] - Total number of shareholders at the end of the reporting period was 26,260, including 26,013 A-share holders and 247 H-share holders[60] - Top 10 shareholders include HKSCC Nominees Limited with 613,929,619 shares (45.00%) and Tsingtao Brewery Group Company Limited with 443,467,655 shares (32.51%)[61] - Hong Kong Securities Clearing Company Limited increased its A-share holdings by 10,584,554 shares, totaling 26,504,261 shares (1.94%)[61] - China Securities Finance Corporation Company decreased its A-share holdings by 1,084,664 shares, totaling 16,015,045 shares (1.17%)[61] - Agricultural Bank of China Co., Ltd. – E Fund Consumer Industry Equity Securities Investment Fund increased its A-share holdings by 8,193,873 shares, totaling 13,569,000 shares (0.99%)[61] - Tsingtao Group holds 38,335,600 H-shares through its wholly-owned subsidiary Xinhaisheng and 405,132,055 A-shares directly[62] - Fosun International Limited sold all its shares in the Company on 30 May 2022 and no longer holds any shares[62] - SASACQ holds 405,132,055 A-shares (29.70%) and 38,335,600 H-shares (2.81%) through Tsingtao Group and Xinhaisheng[65] - Citigroup Inc. holds 46,032,180 H-shares (3.37%) and has 43,076,014 H-shares available for lending (3.16%)[65] - T. Rowe Price Associates, Inc. and its affiliates hold 38,780,000 H-shares (2.84%)[65] - SASACQ is entitled to interests in 38,335,600 H-Shares through Hong Kong Xinhaisheng Investment Limited, a wholly-owned subsidiary of Tsingtao Group[67] - Fidelity Management & Research Company LLC holds shares through its controlled wholly-owned subsidiaries[67] - Citigroup Inc. holds shares through its controlled wholly-owned subsidiaries[67] - Mr. HUANG Ke Xing, Chairman, holds 151,400 shares, including 51,300 tradable A-shares and 100,000 restricted shares[71][72] - Mr. JIANG Zong Xiang, CEO, holds 112,900 shares, including 39,566 tradable A-shares and 73,334 restricted shares[71][72] - Mr. WANG Rui Yong, Vice President, holds 110,000 shares, including 36,666 tradable A-shares and 73,334 restricted shares[71][72] - Mr. HOU Qiu Yan, CFO, is deemed to hold 76,000 shares, including 20,000 tradable A-shares and 40,000 restricted shares[71][72] - The grant price per Restricted Share is RMB 21.18[72] - HUANG Zu Jiang, Supervisor, holds 12,900 tradable A-shares as of the end of the reporting period[74] Corporate Governance and Board Activities - The company has implemented an annual performance evaluation and compensation incentive mechanism for executive directors and senior management, including basic salary and performance-based annual salary[78] - Total remuneration for directors and senior management officers in 2022 was RMB 1,318.83 million, including post-retirement benefits[91] - The company's executive directors and senior management officers receive annual performance remuneration based on operating results, work plan progress, and appraisal results[80] - Independent non-executive directors and supervisors receive annual remuneration as resolved at the general meeting[80] - The Company implemented a performance appraisal and incentive mechanism linking total salaries with business performance, continuously increasing staff salaries to support sustainable business development[96] - The Board of Supervisors held 11 meetings during the reporting period, including 5 regular and 6 unscheduled meetings, considering 30 resolutions[159] - The Board of Supervisors conducted on-site research in the Ningxia market to gain firsthand insights into the Company's operations nationwide[162] - The Board of Supervisors confirmed that the Company operated in strict compliance with laws, regulations, and the Articles of Association during the reporting period[163] - The Board of Supervisors reviewed and approved a total of 26 proposals, including proposals on continuing connected transactions, the unlocking and listing of restricted shares, and the repurchase and cancellation of some restricted shares[164] - The Board of Supervisors conducted site surveys at the Ningxia market to gain firsthand information on the business performance of Tsingtao Brewery in China[165] - The Board of Supervisors confirmed that the Company's financial system is sound, its financial operation is compliant, and its financial statements truly reflect the Company's financial situation and operation[172] - The Company did not have any newly received or remaining proceeds from financing activities during the Reporting Period, and there was no violation in the management and use of proceeds[173] - The Board of Supervisors found that the Company's internal control system is sound and effective, and the 2022 Internal Control Evaluation Report and internal control audit report objectively reflect the system's construction and operation[175] - The Company's Board of Supervisors was recognized as one of the "Productive Board of Supervisors of Listed Companies" by the China Association for Public Companies in October 2022, marking the second time since 2016[178] - The Board of Supervisors will continue to strengthen its supervision and improve its capacity to assist in the Company's high-quality development in 2023[178] - The Board of Directors consists of 4 executive directors and 5 independent non-executive directors as of December 31, 2022[191] - The Board has adopted a diversity policy to enhance effectiveness, with 8 male and 1 female director, achieving 28% female representation at the workforce level[191] - The independent non-executive directors have diverse professional backgrounds, including law, accounting, financial investment, and marketing, aiding in multi-faceted decision-making[192] - The Chairman is responsible for setting the Board meeting agenda and leading the company's overall development strategy[188] - The President is responsible for implementing Board resolutions, managing the annual budget, and reporting on business performance[189] - The roles of Chairman and President are separated to comply with the Corporate Governance Code, with Mr. JIANG Zong Xiang appointed as the new President on June 21, 2022[190] - The Board reviews the implementation and effectiveness of the diversity policy at least annually[191] - The independent non-executive directors have submitted annual work reports to shareholders since 2005[192] - The Company held 8 site meetings with teleconferencing and 7 meetings with voting through communications in 2022 to discuss operations, financial performance, and investment plans[193] - Approved amendments to the Articles of Association and formulated a performance appraisal system for senior management officers[193] - Approved the unlocking and listing of the first grant of restricted shares under the Restricted A Share Incentive Plan and the repurchase of part of the restricted shares[194] - Approved feasibility reports on relocation, new construction, and new capacity projects for subsidiaries[194] - Directors attended 15 board meetings, with 8 in-person and 7 through communications, and 2 annual general meetings[197] - Independent directors can hire independent professional institutions at the Company's expense to fulfill their duties[199] - The Board has adopted mechanisms to ensure access to independent legal, financial, or professional opinions at the Company's expense[200] Employee and Management Information - The company had a total of 31,707 employees as of the end of the reporting period, including 13,842 production personnel and 10,003 sales personnel[95] - Among the employees, 445 held a master's degree or above, while 8,329 had education below secondary specialized school level[95] - Mr. YU Zhu Ming resigned as Executive Director and CFO on June 21, 2022, due to reaching retirement age, with remuneration for January to June 2022 amounting to RMB 52.06 million[85][92] - Mr. WANG Shao Bo resigned as Vice President on October 14, 2022, due to job changes, with remuneration for January to October 2022 amounting to RMB 73.53 million[87][92] - Mr. GUO Xiu Zhang resigned as Chairman of the Board of Supervisors on April 13, 2022, due to job changes, with no remuneration recorded[88] - Mr. SHI Kun resigned as Non-executive Director on June 7, 2022, due to Fosun International's sale of shares in the company, with no remuneration recorded[89] - Mr. YAO Yu resigned as Shareholder Supervisor on June 7, 2022, due to Fosun International's sale of shares in the company, with no remuneration recorded[90] Training and Development - In 2022, the Company focused on digital transformation, enhancing capabilities through the "integration of training and practice" model and building a craftsmen's team with high-level intelligent technologies[96] - The Company organized multiple training programs, including the Practical Workshop on Data Governance and Digital Leadership, to enhance the digital abilities of middle and senior management staff[97] - The Company accelerated the development of a skilled craftsmen's team, with 32 people recognized as Special-Class Technicians and the introduction of a "Beer Sommelier" competition in the 9th Occupational Skill Competition[100] Share Repurchase and Incentive Plans - The Company did not purchase, sell, or redeem any listed securities during the reporting period, except for the repurchase and cancellation of restricted shares[103] - The Company unlocked 4,359,428 restricted shares for 619 qualified participants on 25 July 2022, following the fulfillment of the first unlocking period conditions[105][107] - The Company repurchased and canceled 122,003 restricted shares due to changes in the personal circumstances of 14 participants, reducing the total capital stock from 1,364,354,793 to 1,364,232,790 shares[109][111] - The maximum number of shares to be awarded under the Incentive Plan is 13,494,000 shares, representing approximately 0.9993% and 0.9896% of the total issued share capital as of the Adoption Date and the report date, respectively[110][113] - The first, second, and third unlocking periods allow for the release of 1/3 of the granted shares each, with specific timeframes tied to the registration completion dates[115] - The grant price for the restricted shares under the Incentive Plan is RMB 21.18 per share, determined based on fair market principles[116] - The grant price of the restricted shares under the first grant and reserved grant is RMB21.18 per share[118] - The total number of restricted shares granted in 2022 is 13,371,998, with 4,359,428 shares vested and 8,890,567 shares outstanding as of December 31, 2022[131] - The fair value of the restricted shares is determined based on the single-day closing price of the circulating shares on the grant date[132] - The closing prices of A shares before the first grant and reserved grant were RMB72.20 and RMB79.72 respectively, with a weighted average closing price of RMB96.21 before the vesting date[133] Connected Transactions and Agreements - The actual transaction amount under the Comprehensive Service Framework Agreement for 2022 was RMB12,374,347, below the annual cap of RMB18,000,000[139] - The actual transaction amount under the Entrusted Production Framework Agreement for 2022 was RMB1,877,942, below the annual cap of RMB37,760,000[142] - The Supply Chain Services Framework Agreement includes logistics, transportation, warehousing, and value-added services, with Zhilian Shunda leasing idle warehouses from the company[143] - The annual cap for the Supply Chain Services Framework Agreement was revised from RMB229 million to RMB329 million for the year ended 31 December 2022[144] - Actual transaction amounts for Logistics and Transportation Services and Warehousing and Value-added Services were RMB291.75 million, and for Warehouse Leasing Services were RMB252,294, both within the revised annual cap of RMB329 million[145] - The independent non-executive directors confirmed that the continuing connected transactions were conducted in the ordinary course of business, on normal commercial terms, and in the interest of shareholders[145] - The Company's auditor confirmed that the continuing connected transactions were approved by the Board, in accordance with the Group's pricing policies, and did not exceed the annual cap[149] Corporate Culture and Innovation - The Company has established a high-standard corporate culture system to enhance innovation, cohesion, and core competitiveness[184] Board and Supervisory Activities - The Board of Supervisors conducted on-site research in the Ningxia market to gain firsthand insights into the Company's operations nationwide[162] - The Board of Supervisors confirmed that the Company operated in strict compliance with laws, regulations, and the Articles of Association during the reporting period[163] - The

Financial Performance - The company's operating revenue for Q1 2023 reached RMB 10.71 billion, representing a year-on-year increase of 16.27%[5] - Net profit attributable to shareholders for the same period was RMB 1.45 billion, up 28.86% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1.35 billion, an increase of 32.07% compared to the previous year[6] - The net cash flow from operating activities was RMB 1.81 billion, showing a significant increase of 94.29% year-on-year[7] - The total product sales volume for Q1 2023 was 2.363 million kiloliters, reflecting a growth of 11.02% year-on-year[5] - The main brand, Tsingtao Beer, achieved a sales volume of 1.401 million kiloliters, which is a 7.45% increase year-on-year[5] Strategic Focus - The company has committed to high-quality development strategies, focusing on market expansion and product structure optimization[6] Shareholder Information - The top 10 unrestricted shareholders include Hong Kong Central Clearing (Agent) Limited holding 613,951,619 shares and Qingdao Beer Group Limited holding 443,467,655 shares[9] - Qingdao Beer Group's holdings consist of 405,132,055 RMB ordinary shares and 38,335,600 overseas listed foreign shares[10] - Hong Kong Central Clearing Limited holds 24,974,536 RMB ordinary shares, representing multiple clients[10] - The company is unaware of any relationships or concerted actions among the top 10 shareholders[10] Governance and Financial Position - The weighted average return on net assets for the period was 5.53%, an increase of 0.75 percentage points compared to the previous year[4] - Total assets at the end of the reporting period were RMB 50.14 billion, a slight decrease of 0.35% from the end of the previous year[4] - Shareholders' equity attributable to the parent company increased to RMB 27.01 billion, marking a growth of 5.94% year-on-year[4] - As of March 31, 2023, the company has not disclosed its unaudited balance sheet, income statement, and cash flow statement[12] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[12]

证券代码：600600 证券简称：青岛啤酒 公告编号：临 2023-009 青岛啤酒股份有限公司 关于召开 2022 年度及 2023 年第一季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2023 年 4 月 25 日(星期二)下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） （二）会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心视频直播和网络互动 三、参加人员 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 4 月 24 日(星期一)15:00 前通过公司邮箱 secretary@tsingtao.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 青岛啤酒股份有限公司（以下简称"公司"）已于 2023 年 3 月 23 日发布公司 2022 ...

Financial Performance - The company's operating revenue for 2022 was RMB 32,171,565,624, representing a 6.65% increase compared to RMB 30,166,805,377 in 2021[17] - The net profit attributable to shareholders for 2022 was RMB 3,710,628,593, which is a 17.59% increase from RMB 3,155,455,810 in 2021[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 3,209,052,175, reflecting a significant increase of 45.43% compared to RMB 2,206,584,195 in 2021[17] - The net cash flow from operating activities for 2022 was RMB 4,878,771,322, a decrease of 19.27% from RMB 6,043,111,455 in 2021[17] - As of the end of 2022, the net assets attributable to shareholders were RMB 25,494,821,703, marking a 10.84% increase from RMB 23,001,844,598 at the end of 2021[17] - The total assets as of the end of 2022 were RMB 50,311,699,796, which is an 8.05% increase from RMB 46,563,004,491 at the end of 2021[17] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.80 per share for the year 2022, totaling RMB 2,455,619,022[4] - The company plans to distribute a cash dividend of RMB 1.80 per share for the year 2022, including a special dividend of RMB 0.50 per share[26] - The total cash dividend for 2022 represents 66.18% of the net profit attributable to ordinary shareholders of the listed company, which was RMB 3,710,628,593[109] Sales and Market Performance - The company sold 8.072 million kiloliters of products, marking a 1.8% increase from the previous year[24] - The company achieved a total beer sales volume of 8.072 million kiloliters in 2022, with a revenue of RMB 32.17 billion, representing a year-on-year increase of 6.65%[29] - The main brand, Tsingtao Beer, sold 4.44 million kiloliters, up 2.6% year-on-year, while mid-to-high-end products sold 2.93 million kiloliters, increasing by 4.99%[25] - The company expanded its international market presence, with overseas product sales increasing by 4% year-on-year[24] Research and Development - R&D expenses increased by 103.80% to RMB 62.96 million, reflecting a significant investment in new product development[31] - The total R&D investment amounted to 62,955 thousand RMB, representing 0.20% of operating revenue[42] - The company employed 750 R&D personnel, accounting for 2.37% of the total workforce[43] - Research and development investments increased by 30%, focusing on innovative brewing technologies and sustainable practices[83] Operational Efficiency and Cost Management - The company implemented various cost control measures, leading to improved operational efficiency and sustained profit growth[24] - The company reported a decrease in management expenses by 12.95% to RMB 1.47 billion, attributed to reduced share-based payment expenses[30] - The operating cost for 2022 rose by 6.43% year-on-year, attributed to increased sales volume, rising raw material prices, and optimized product mix[33] Environmental Responsibility - The company invested 22.07 million yuan in environmental protection during the reporting period[117] - The total discharge of COD from the Qingdao Brewery was 967.50 tons, with a concentration of 960 mg/L[118] - The company has established environmental protection mechanisms and is classified as a key pollutant discharge unit[117] - All wastewater discharge from the Qingdao Brewery facilities met the required standards, with no exceedances reported[118] Governance and Management - The company has held 15 board meetings and 11 supervisory meetings to ensure effective governance and decision-making[78] - The company is focused on high-quality development, emphasizing brand leadership, innovation, and quality first[73] - The company has a structured decision-making process for determining the remuneration of directors and senior management, which involves proposals from the board and supervisory committee[89] Future Outlook and Strategic Initiatives - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[84] - The company plans to enhance its product structure and increase market share through both online and offline promotional efforts[74] - The company aims to improve operational efficiency and supply chain management in the next fiscal year[82] Financial Management and Investments - The company has engaged in various financial management activities, including a total of CNY 2,180,000,000 in wealth management products and CNY 5,500,000,000 in structured deposits[160] - The company has confirmed that all financial management activities have followed legal procedures[161] - The company has a total of CNY 300,000,000 in wealth management products with Bohai Bank, with an actual return of CNY 11,188,000[161] Shareholding Structure - The total number of ordinary shareholders was 26,260, with 26,013 being A-share holders and 247 being H-share holders[182] - The top shareholder, Hong Kong Central Clearing (Agent) Limited, holds 613,929,619 shares, representing 45.00% of total shares[184] - Qingdao Beer Group Limited, the second-largest shareholder, holds 443,467,655 shares, accounting for 32.51%[184] Audit and Compliance - The audit opinion confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2022[195] - The audit was conducted in accordance with Chinese CPA auditing standards, ensuring the independence of the auditors from Qingdao Beer[196] - The financial statements were prepared in accordance with the accounting standards for enterprises, ensuring compliance and accuracy[195]

Financial Performance - Total revenue for 2022 reached RMB 32.17 billion, an increase of 6.65% from RMB 30.17 billion in 2021[4] - Net profit for 2022 was RMB 3.80 billion, representing a growth of 16.77% compared to RMB 3.26 billion in 2021[4] - The company's main business revenue for 2022 reached RMB 31,697,342,623, an increase of 6.84% compared to RMB 29,672,697,265 in 2021[9] - The total operating income for 2022 was RMB 32,171,565,624, up from RMB 30,166,805,377 in 2021, reflecting a growth of 6.65%[9] - The net profit attributable to the parent company's shareholders for 2022 was RMB 3,710,628,593, representing a 17.55% increase from RMB 3,155,455,810 in 2021[17] - The company's operating costs for 2022 were RMB 20,317,934,822, compared to RMB 19,091,130,744 in 2021, indicating an increase of 6.43%[9] - The income tax expense for 2022 was RMB 1,201,419,808, a slight decrease from RMB 1,222,731,595 in 2021[14] - The company reported a fixed asset disposal loss of RMB 12,935,494 in 2022, significantly improved from a loss of RMB 92,650,310 in 2021[13] Assets and Liabilities - The company's total assets increased to RMB 50.31 billion in 2022, up from RMB 46.56 billion in 2021, reflecting a growth of 8.00%[1] - The total liabilities rose to RMB 24.04 billion, an increase of 5.59% from RMB 22.77 billion in 2021[3] - The company reported a total equity of RMB 26.27 billion, an increase of 10.42% from RMB 23.79 billion in 2021[3] - The total accounts receivable as of December 31, 2022, was RMB 3,463,768,573, an increase from RMB 3,127,872,424 in 2021[9] - The total accounts payable as of December 31, 2022, was RMB 2,180,772,440, slightly up from RMB 2,172,664,930 in 2021[10] Earnings and Dividends - The company's earnings per share (EPS) for 2022 was RMB 2.736, compared to RMB 2.328 in 2021, indicating an increase of 17.50%[4] - Basic earnings per share for 2022 were RMB 2.736, compared to RMB 2.328 in 2021, marking an increase of 17.5%[17] - The company plans to distribute a cash dividend of RMB 1.30 per share and a special dividend of RMB 0.50 per share for a total of RMB 2,455,619,022, pending shareholder approval[11] - A proposed final dividend of RMB 1.30 per share and a special dividend of RMB 0.50 per share has been recommended, totaling RMB 1.80 per share[37] - The company plans to distribute a cash dividend of RMB 1.80 per share, including a special dividend of RMB 0.50 per share[30] Market and Sales Performance - The Shandong region reported external revenue of approximately $19.34 billion, making it the highest revenue-generating segment for the company[21] - The South China region generated external revenue of approximately $2.72 billion, while the North China region contributed about $5.89 billion[21] - In 2022, the company achieved a beer production volume of 35.687 million kiloliters, a year-on-year increase of 1.1%[28] - The sales volume of the main brand reached 4.44 million kiloliters, with a year-on-year growth of 2.6%[29] - The sales volume of mid-to-high-end products was 2.93 million kiloliters, reflecting a year-on-year increase of 4.99%[29] - The company’s overseas market product sales grew by 4% year-on-year[28] Strategic Plans and Developments - The company plans to continue expanding its market presence and invest in new product development to drive future growth[4] - The company plans to continue expanding its market presence in both domestic and international markets, focusing on strategic investments and product development[21] - The company is advancing its digital transformation and has established a technology R&D center to enhance innovation capabilities[29] - The company is committed to high-quality development strategies, emphasizing brand leadership, innovation, quality, and efficiency[33] - The company will continue to push for digital transformation to enhance operational efficiency and adapt to changing consumer habits[34] - The company aims to accelerate the growth of its mid-to-high-end product segment, reinforcing its competitive advantage in this market[34] - The company is focused on expanding its international market presence while maintaining high quality and visibility for its products[34] Challenges and Risks - Rising costs of raw materials and labor may impact future sales, revenue, and profit growth, posing operational challenges[36] - The company acknowledges potential risks from uncertain factors such as consumer behavior and climate changes that may affect market recovery and growth[35] Stock and Land Acquisitions - The company approved the unlocking of 4,359,428 restricted stocks for 619 eligible incentive targets, effective from July 25, 2022[41] - The company repurchased and canceled a total of 122,003 restricted stocks due to changes in the personal circumstances of 14 incentive targets, reducing the total share capital from 1,364,354,793 shares to 1,364,232,790 shares[42] - The company received a total compensation of ¥581,137,182.06 for the Yangjiaqun cargo yard land acquisition as of March 1, 2023[44] - The company signed a land acquisition agreement for 1,412.7 square meters with a compensation amount of ¥16.5356 million, with the first payment of ¥4.96 million already received[44] - The company acquired a 20% equity stake in Qingdao Beer (Hangzhou) Co., Ltd. for ¥60.97 million, completing the equity transfer on December 27, 2022[45]

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].