China's Tsingtao Brewery shares rise on solid Q1 results

China Resources Beer Holdings

25/04/2023 08:55

** Shanghai shares in Tsingtao Brewery Co Ltd  600600.SS 
rise as much as 4.2% to 118.27 yuan.
    ** Chinese brewer's Hong Kong shares  0168.HK  climb as much
as 2% to HK$82.80.
    ** Co says its Q1 net profit rose 28.9% YOY to 1.45 bln yuan
($209.72 mln) with revenue up 16.3% YOY at 10.71 bln yuan,
riding on recovery in the domestic beer market.
    ** Shares in rivals fall, with China Resources Beer
 0291.HK  sliding 2.3% and Budweiser Brewing Company APAC
 1876.HK  down 4.5%.
    ** The blue-chip CSI 300 Index  .CSI300  eases 0.5% and the
Shanghai Composite Index  .SSEC  slips 0.3%.
    ** Hang Seng Consumption Index  .HSCGSI  drops 2% and the
Hang Seng Index  .HSI  falls 1.8%.



($1 = 6.9140 Chinese yuan renminbi)

 (Reporting by Donny Kwok, Editing by Louise Heavens)
 ((donny.kwok@thomsonreuters.com))