Chinese brewer Tsingtao is enjoying a pandemic-defying stock rally and giving investors something to cheer about, says KatrinaHamlin
Tsingtao’s rally has two potent ingredients. Firstly, the brewer raised prices by as much as 15% for some beverages, and curbed costs by hedging bets on key commodities such as barley and the metals used for packaging, according to Morningstar’s Jennifer Song. That boosted margins despite rising raw material prices. Net profit in the first quarter was up 17% from a year earlier.
Moreover, customers in the world’s largest beer market are getting a taste for fancier and more lucrative brews. Tsingtao’s premium products include a dubious-soundingHappy hour: Tsingtao's shares have surged, while the benchmark index is flat
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