2 1 Shi Ji Jing Ji Bao Dao·2025-09-10 00:16Core Viewpoint - Under the new leadership of Jiang Zongxiang, Qingdao Beer has returned to growth, achieving significant increases in revenue, net profit, and sales volume in the first half of the year, marking a turnaround from the previous year's decline [1][2][5]. Financial Performance - In the first half of 2024, Qingdao Beer reported a revenue increase of 2.11% year-on-year, with a net profit growth of 7.21% and a sales volume increase of 2.3%, setting new records for the same period [1][2]. - The company had previously experienced declines in 2023, with revenue and sales volume down by 7.06% and 7.82% respectively [5][6]. Market Position - Qingdao Beer is one of the few breweries to achieve comprehensive growth in revenue, profit, and sales volume in the first half of 2024, outperforming the industry average, which saw a slight decline in production [2][5]. - The company's sales volume of mid-to-high-end products grew by over 5%, contributing to an increase in gross margin [3][8]. Strategic Initiatives - The company is focusing on high-end product development, with mid-to-high-end product sales reaching 199.2 million liters, accounting for 42.1% of total sales [8]. - Qingdao Beer is actively expanding its product range and optimizing its brand strategy, including the introduction of innovative products like "light dry" and various flavored beers [9][10]. Marketing and Distribution - Qingdao Beer has enhanced its marketing efforts by sponsoring major sports events and launching promotional activities like the Qingdao Beer Festival [10][11]. - The company is also embracing new retail channels, achieving a nearly 60% increase in sales through instant retail platforms like Meituan and Ele.me [17][18]. Regional Performance - Revenue growth was observed in key markets such as Shandong, North China, and East China, contributing over 90% of total revenue [15][16]. - However, revenue declined in South China and Southeast regions due to intensified competition [16]. Non-Beer Business Expansion - Qingdao Beer is diversifying its portfolio by acquiring Qingdao Beverage Group, which includes various non-beer products [20][21]. - The company is also pursuing a strategic acquisition of a yellow wine producer, although the process has faced delays due to issues with the counterpart [22][24].