Tsingtao Brewery's 2H Sales Volume Could Recover Slightly -- Market Talk

Dow Jones09-05

0650 GMT - Tsingtao Brewery's sales volume could recover slightly in 2H on low base effect and more stable weather conditions, DBS Group Research analysts write in a report. The Chinese brewer's sales volume declined 7.8% in 1H mainly due to the high base in 2Q 2023, unfavorable weather conditions, and weaker-than-expected consumer sentiment, they say. Based on its strong brand portfolio, the company is likely to sustain a low-single-digit average selling price growth in 2H, the analysts add. DBS has a buy rating on Tsingtao's H-shares and A-shares and a target price of HK$63.40 and CNY76.50, respectively. H-shares are last at HK$43.40 and A-shares at CNY57.56.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

September 05, 2024 02:50 ET (06:50 GMT)

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The Chinese brewer's sales...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"TSGTY","symbol_name":"Tsingtao Brewery Co., Ltd.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2465155975","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465155975","pubTimestamp":1725519000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0650 GMT - Tsingtao Brewery's sales volume could recover slightly in 2H on low base effect and more stable weather conditions, DBS Group Research analysts write in a report. 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