BUZZ-China's Tsingtao Brewery slips after FY results

Reuters03-27

** Hong Kong shares of Tsingtao Brewery Co Ltd slip 2.7% to HK$51.70, their lowest since March 11

** The Chinese brewer says its 2023 net profit from continuing operations up 14.3% y/y to 4.35 bln yuan ($601.9 mln) with revenue up 5.5% y/y to 33.94 bln yuan

** Jefferies, with "buy" rating on the stock, says Tsingtao's 4Q23 loss would be higher than market estimates if disposal income were excluded

** Shanghai-listed stock down 20.3% to 83.12 yuan, on track for the biggest one-day pct drop since Feb. 28

** Hang Seng Consumption Index climbs 0.2%, while Hang Seng Commerce & Industry Index eases 0.7% and Hang Seng Index slips 0.6%

** Tsingtao's Hong Kong stock gained 0.4% YTD, Shanghai shares up 12% YTD

($1 = 7.2269 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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