Stock Track | Tsingtao Brewery Shares Plummet 5% After Disappointing Q3 Earnings

Stock Track10-30

Tsingtao Brewery Co. Ltd's shares took a significant hit on Tuesday, plunging over 5% in Hong Kong trading. The steep decline came after the Chinese beer maker reported underwhelming financial results for the third quarter of 2024.

According to a filing with the Hong Kong Stock Exchange, Tsingtao Brewery's net profit attributable to shareholders dropped 9% year-over-year to 1.35 billion yuan ($189 million) in Q3. The company's earnings per share also declined to 0.989 yuan for the quarter. Additionally, Tsingtao Brewery's revenue for the three-month period slid 5.3% compared to a year ago, coming in at 8.89 billion yuan ($1.24 billion).

The weaker-than-expected top and bottom-line results weighed heavily on investor sentiment, causing the brewer's stock to sell off sharply. The disappointing earnings performance raised concerns among market participants about Tsingtao Brewery's growth prospects and ability to navigate the competitive Chinese beer market. While the company has yet to provide guidance for the remainder of the year, analysts will be closely watching for any potential improvement or further deterioration in its financial performance.

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Ltd's shares took a significant hit on Tuesday, plunging over 5% in Hong Kong trading. The steep decline came after the Chinese beer maker reported underwhelming financial results...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00168","symbol_name":"青岛啤酒股份","start_time":0,"source_url":"","article_id":"1110410195","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1110410195","pubTimestamp":1730297468,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Tsingtao Brewery Co. Ltd's shares took a significant hit on Tuesday, plunging over 5% in Hong Kong trading. The steep decline came after the Chinese beer maker reported underwhelming financial results for the third quarter of 2024.According to a filing with the Hong Kong Stock Exchange, Tsingtao Brewery's net profit attributable to shareholders dropped 9% year-over-year to 1.35 billion yuan  in Q3. The company's earnings per share also declined to 0.989 yuan for the quarter. Additionally, Tsingt","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00168":"青岛啤酒股份"},"translate_title":"股票轨迹青岛啤酒第三季度盈利令人失望，股价暴跌5%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00168":1},"content_text":"Tsingtao Brewery Co. Ltd's shares took a significant hit on Tuesday, plunging over 5% in Hong Kong trading. 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