Tsingtao Brewery released its semi-annual report for 2022 on Aug 25, showing solid growth in operating performance and hit another record high.

Products of Tsingtao Brewery [Photo/IC]

In the first half of this year, the company achieved a total product sales volume of 4.72 million kiloliters. Its operating revenue reached 19.27 billion yuan ($2.81 billion), up 5.37 percent year-on-year.

The company's net profit attributable to its shareholders increased by 18.07 percent year-on-year to 2.85 billion yuan from January to June.

According to the report, Tsingtao Brewery has been adhering to high-quality development, and overcome the challenges of sporadic domestic resurgences of COVID-19. The company gives full play to its brand, quality and channel advantages, and continues to increase its efforts of market exploration, scientific and technological innovation, digital transformation, brand upgrading and product structure optimization.

Tsingtao Brewery has seized the favorable opportunity of upgrading beer market consumption by unswervingly expanding the medium and high-end products.

According to the report, the company achieved 1.66 million kiloliters of medium and high-end beer products from January to June, up 6.6 percent year-on-year, maintaining its competitive edge in the premium segment of the domestic beer market.

The company is also working to comprehensively enrich and enhance the connotation of internationalization, youth and fashion of the Tsingtao Beer brand. It has implemented the marketing strategy of "sports + music + experience", and actively cultivates its fashion consumption formats.

The company has opened a beer-themed resort, the Tsingtao Time Craft Beer Garden, inside Golden Beach Beer City in the West Coast New Area. The beer garden features great sea views and six facilities, bringing immersive beer and consumption experiences to visitors.