HK Stock Market Move | TSINGTAO BREW (00168) falls more than 5% after its performance report. Net profit attributable to shareholders for the first three quarters increased by 5.7% year-on-year. The product structure is still improving.

TSINGTAO BREW (00168) fell by over 5% after the performance report, dropping 4.8% to 51.6 Hong Kong dollars, with a trading volume of 137 million Hong Kong dollars. On the news front, on the evening of October 27th, TSINGTAO BREW released its report for the first three quarters of 2025, with operating income of 29.367 billion yuan, up 1.41% year-on-year; net profit attributable to shareholders was 5.274 billion yuan, up 5.7% year-on-year. Looking at the third quarter alone, the company achieved revenue of 8.88 billion yuan, down 0.2% year-on-year; and net profit attributable to shareholders of 1.37 billion yuan, up 1.6% year-on-year. The Founder pointed out that sales volume remained stable, product structure continues to improve, and ASP is slightly under pressure due to factors such as seasonal discounts. In terms of volume and price, in Q3 2025, the company's sales volume/ASP increased by 0.3%/0.5% year-on-year. In terms of product structure, in Q3 2025, the company's main brand Tsingtao Brewery saw a sales volume increase of 4.2% year-on-year, with a market share increase of 2.2 percentage points, while sales volume of other brands decreased by 4.8% year-on-year. Sales of products in the mid-to-high-end segment increased by 6.8% year-on-year, with a market share increase of 2.6 percentage points, while sales of products in the mid-to-low-end segment decreased by 4.2% year-on-year.