HK Stock Market Move | TSINGTAO BREW (00168) fell over 5% after earnings, with revenue in the first half of the year down 4% year-on-year, and net profit slightly up by 0.4%.

Tsingtao Brewery (00168) fell more than 5% after announcing its performance, and as of the time of writing, it has dropped by 5.74%, trading at HK$40.4 with a transaction volume of HK$155 million. In terms of news, Tsingtao Brewery released its interim results, reporting an operating revenue of RMB 19.655 billion for the first half of the year, a year-on-year decrease of 4.08%; the net profit attributable to shareholders of the listed company was RMB 3.92 billion, a slight increase of 0.4%; and product sales amounted to 4.5 million kiloliters. The return on equity (weighted) was 12.02%, a decrease of 6.09% year-on-year. During the reporting period, the company continued to promote the optimization and upgrading of its product structure, with mid-range and health products leading the growth. By deepening the Tsingtao Brewery + Laoshan Beer brand strategy, the company aims to build a diversified growth engine. In the first half of the year, Tsingtao Brewery's main brand achieved sales of 2.708 million kiloliters, of which mid-range and high-end products achieved sales of 2.044 million kiloliters, a year-on-year increase of 2.6%.