青岛啤酒股份2023 年度报告

 Contents Business Introduction of the Company3 Financial Highlights6 Chairman’s Statement11 Report of the Directors15 Report of the Supervisors45 Corporate Governance Report49 Management Discussion and Analysis71 Profiles of Directors, Supervisors andSenior Management Officers90 Significant Events98 Financial Report101 Definitions415 Company Information416 Business Introduction of the Company 1.Company Profile HA The Company, the earliest brewery in China, can trace its rootback to 1903 when its predecessor, the State-owned TsingtaoBrewery Factory, was established. The Company was registeredand established on 16 June 1993, and then issued H-sharesin Hong Kong which were listed on the Stock Exchange on15 July 1993, being the first domestic enterprise listed on anoverseas stock exchange. In July 1993, the Company issuedA-shares in Mainland China, which were listed on SSE on 27August 1993. 57220 The Company’s business scope is production and sales of beer,and other related business. At present, the Company occupiesleading position in the domestic beer industry in terms ofsize and market share with 57 wholly-owned and controllingbreweries, and 2 associated and joint-investment breweries in20 provinces, municipalities and autonomous regions in China.The Company produces Tsingtao Beer, which is the most well-known Chinese brand in the international market. Productsfrom Tsingtao Brewery has been sold in 120 countries andregions around the world. Business Introduction of the Company 2.Core Competitiveness Analysis (II)Core Competitiveness Analysis during the ReportingPeriod 20232,406.893,800 The brand “Tsingtao Beer”, owned by the Company is one ofthe first batches of China’s ten well-known trademarks and hasstrong influence and high visibility in local and internationalmarkets. In 2023, “Tsingtao Beer” remained the top brandvalue in the Chinese beer industry with a brand value ofRMB240.689 billion. The overall worth of brands such as“Tsingtao Beer”, “Laoshan Beer”, and “Hans Brewery” ownedby the Company has surpassed RMB380 billion (Data resource:World Brand Laboratory). As a beer manufacturer with the longest history in China,the Company prioritizes product quality. Tsingtao Beerproducts have won several championships in domestic andforeign quality competitions as well as domestic and foreigncustomer recognition. The Company has boosted its majorproduction equipment to the advanced international levelthrough continuous improvement in recent years. Furthermore,by strengthening management and control of raw materials,production process, technologies, and operation procedures, theCompany has ensured food safety and excellent product qualityand maintained the consistency of product taste. 61903IPA The Company spent RMB600 million on building the TsingtaoBeer Science and Technology Research and DevelopmentCenter* (), an innovative platform withleading technology R&D capabilities in the global breweryindustry. The Company accelerated the development of anew high ground for beer brewing technology research withglobal influence, a new high ground for training high-calibreinternational talents for beer brewing, a new high groundfor multi-disciplinary international academic exchanges inbeer brewing, and a new high ground for global beer culturecommunication and consumer experience. The Companypossesses the State Key Laboratory of Biological FermentationEngineering of Beer* (), theonly national key laboratory in the beer industry in China. Italso has China’s first-class R&D platform, a high-caliber R&Dteam, and a domestic leading capability for basic research. TheCompany has also developed a number of core technologieswith proprietary intellectual property and maintained itstechnologically leading position in the domestic beer market.In recent years, the Company has launched a series of TsingtaoBeer products, such as “Century Legend”, “Tsingtao CentennialJourney”, “Amber Lager”, “Augerta”, “Hong Yun Dang Tou”,“Classic 1903”, “Keg Original Beer”, “Pearson” and “TsingtaoIPA”, being innovative products with distinctive characteristicsthat fit market needs, which led the consumption trend for high-end beer products and further improved the Company’s brandimage. Business Introduction of the Company TSINGTAO1903 Industrial tourism and consumer experience bases such as TheWorld of Tsingtao* () and TSINGTAO1903,provide consumers with an immersive experience of TsingtaoBrewery’s history, culture, and attractive quality, therebysubstantially improving the brand influence and productreputation of Tsingtao. T h e C o m p a n y h a s p r o d u c t i o n b a s e s a c r o s s C h i n a , acomprehensive supply chain system, and a network that coversthe major markets in China with a global reach. Its business hasexpanded to more than 120 countries and regions globally. TheCompany has continued to strengthen promotion and deepenthe construction of market network, promote collaborativeoperations between ma