Tsingtao Beer's net profit up 30.2 percent in 2019

QINGDAO, March 30 (Xinhua) -- Tsingtao Brewery Co., Ltd., China's major brewery and producer of Tsingtao Beer, saw net profit rise 30.2 percent year on year to 1.85 billion yuan (about 2.6 billion U.S. dollars) in 2019, the company announced on Sunday.

Ranking as the fifth-largest beer producer in the world, Tsingtao Brewery sold 8.05 million kiloliters of beer in 2019 and its operating revenue reached 27.98 billion yuan, up 5.3 percent year on year.

Its century-old brand is valued at 163.77 billion yuan last year, securing the first place among China's beer brands.