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SHA/600600 (SHA/600600)

Shanghai Stock Exchange: SHA/600600 · CNY

CN¥49.6

-0.47 (-0.9%)· Recorded snapshot

Market cap	56.8B
Revenue (ttm)	31.1B
Net income (ttm)	4.4B
EPS (ttm)	CN¥3.20
Shares out	1.4B
P/E (trailing)	15.5x
P/E (forward)	14.4x
Dividend	CN¥2.35 (4.74%)
Volume	5,509,890
Beta	0.33

Market data

Price

Recent price action with selectable time range.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-28
Employees	29,257
Employees change	-613
Employees growth	-2.05%
Enterprise value	CNY 37.3B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-09-30
First seen	2026-05-10
Fiscal year end	December
Founded	1903
Industry	Beverages - Brewers
Is primary listing	Yes
ISIN number	CNE0000009Y3
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split date	2006-12-19
Last stock split type	Forward
Market cap	CNY 56.8B
Next earnings date	2026-10-29
Price	CNY 49.59
Price currency	CNY
Sector	Consumer Staples
SIC code	2082
Stock price date	2026-10-28
Symbol	sha/600600
Website	https://www.tsingtao.com.cn

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-28

Employees

29,257

Employees change

-613

Employees growth

-2.05%

Enterprise value

CNY 37.3B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-09-30

First seen

2026-05-10

Fiscal year end

December

Founded

1903

Industry

Beverages - Brewers

Is primary listing

Yes

ISIN number

CNE0000009Y3

Last earnings date

2026-10-28

Last refreshed

2026-10-28

Last stock split date

2006-12-19

Last stock split type

Forward

Market cap

CNY 56.8B

Next earnings date

2026-10-29

Price

CNY 49.59

Price currency

CNY

Sector

Consumer Staples

SIC code

2082

Stock price date

2026-10-28

Symbol

sha/600600

Website

https://www.tsingtao.com.cn

Metric	Value
Average P/E ratio (10Y)	30.08x
Average P/E ratio (3Y)	17.77x
Average P/E ratio (5Y)	22.84x
Earnings yield	6.46%
EV/Earnings	8.54x
EV/EBIT	7.94x
EV/EBITDA	6.33x
EV/FCF	12.65x
EV/Sales	1.2x
FCF / EV yield	7.91%
FCF yield	5.19%
Forward P/E	14.36x
Graham number	41.40952
Graham upside	-16.5%
Industry forward P/E	14.77x
Industry P/E	15.74x
Lynch fair value	CNY 28.94
Lynch upside	-41.63%
P/(FCF - SBC) ratio	19.26x
P/(OCF - SBC) ratio	10.8x
P/B ratio	1.7x
P/E ratio	15.49x
P/FCF ratio	19.25x
P/OCF ratio	10.8x
P/S ratio	1.82x
PEG ratio	5.59x
Price / tangible book value	1.98x
Price/EBITDA ratio	9.72x
Sector forward P/E	19.11x
Sector P/E	30.51x

Metric

Value

Average P/E ratio (10Y)

30.08x

Average P/E ratio (3Y)

17.77x

Average P/E ratio (5Y)

22.84x

Earnings yield

6.46%

EV/Earnings

8.54x

EV/EBIT

7.94x

EV/EBITDA

6.33x

EV/FCF

12.65x

EV/Sales

1.2x

FCF / EV yield

7.91%

FCF yield

5.19%

Forward P/E

14.36x

Graham number

41.40952

Graham upside

-16.5%

Industry forward P/E

14.77x

Industry P/E

15.74x

Lynch fair value

CNY 28.94

Lynch upside

-41.63%

P/(FCF - SBC) ratio

19.26x

P/(OCF - SBC) ratio

10.8x

P/B ratio

1.7x

P/E ratio

15.49x

P/FCF ratio

19.25x

P/OCF ratio

10.8x

P/S ratio

1.82x

PEG ratio

5.59x

Price / tangible book value

1.98x

Price/EBITDA ratio

9.72x

Sector forward P/E

19.11x

Sector P/E

30.51x

Metric	Value
EBIT margin	15.09%
EBITDA margin	18.76%
Effective tax rate	25.93%
FCF margin	9.47%
Gross margin	41.74%
Operating margin	15.09%
Pretax margin	19.41%
Profit margin	14.03%
Profit per employee	CNY 149,321
Profitable quarters	2
Profitable years	36
Revenue per employee	CNY 1.1M
ROA	5.63%
ROA (5Y)	5.24%
ROCE	12.53%
ROE	13.66%
ROE (5Y)	15.28%
ROIC	35.21%
SBC / revenue	0%
Tax / revenue	5.03%

Metric

Value

EBIT margin

15.09%

EBITDA margin

18.76%

Effective tax rate

25.93%

FCF margin

9.47%

Gross margin

41.74%

Operating margin

15.09%

Pretax margin

19.41%

Profit margin

14.03%

Profit per employee

CNY 149,321

Profitable quarters

Profitable years

Revenue per employee

CNY 1.1M

ROA

5.63%

ROA (5Y)

5.24%

ROCE

12.53%

ROE

13.66%

ROE (5Y)

15.28%

ROIC

35.21%

SBC / revenue

Tax / revenue

5.03%

Metric	Value
EPS growth	-5.65%
EPS growth (Q)	-17.16%
EPS growth (QoQ)	-46.48%
EPS growth 10Y	9.12%
EPS growth 3Y	0.08%
EPS growth 5Y	8.92%
EPS growth years	3
FCF growth	13.05%
FCF growth (Q)	15.78%
FCF growth (QoQ)	-76.79%
FCF growth 3Y	7.12%
FCF growth 5Y	-4.55%
Gross profit growth	-4.21%
Gross profit growth (Q)	-8.48%
Gross profit growth 3Y	0.01%
Gross profit growth 5Y	6.11%
Net income growth	-5.63%
Net income growth (Q)	-17.15%
Net income growth (QoQ)	-46.46%
Net income growth 3Y	0.21%
Net income growth 5Y	9.04%
Net income growth years	9
OCF growth	10.89%
OCF growth (Q)	-4.07%
OCF growth (QoQ)	-61.11%
OCF growth 10Y	8.65%
OCF growth 3Y	9.79%
OCF growth 5Y	0.2%
Operating income growth	-10.14%
Operating income growth (Q)	-16.27%
Operating income growth 3Y	1.37%
Operating income growth 5Y	8.88%
Revenue growth	-4.31%
Revenue growth (Q)	-5.58%
Revenue growth (QoQ)	-10.56%
Revenue growth 10Y	1.68%
Revenue growth 3Y	-2.92%
Revenue growth 5Y	0.68%
Revenue growth years	0

Metric

Value

EPS growth

-5.65%

EPS growth (Q)

-17.16%

EPS growth (QoQ)

-46.48%

EPS growth 10Y

9.12%

EPS growth 3Y

0.08%

EPS growth 5Y

8.92%

EPS growth years

FCF growth

13.05%

FCF growth (Q)

15.78%

FCF growth (QoQ)

-76.79%

FCF growth 3Y

7.12%

FCF growth 5Y

-4.55%

Gross profit growth

-4.21%

Gross profit growth (Q)

-8.48%

Gross profit growth 3Y

0.01%

Gross profit growth 5Y

6.11%

Net income growth

-5.63%

Net income growth (Q)

-17.15%

Net income growth (QoQ)

-46.46%

Net income growth 3Y

0.21%

Net income growth 5Y

9.04%

Net income growth years

OCF growth

10.89%

OCF growth (Q)

-4.07%

OCF growth (QoQ)

-61.11%

OCF growth 10Y

8.65%

OCF growth 3Y

9.79%

OCF growth 5Y

0.2%

Operating income growth

-10.14%

Operating income growth (Q)

-16.27%

Operating income growth 3Y

1.37%

Operating income growth 5Y

8.88%

Revenue growth

-4.31%

Revenue growth (Q)

-5.58%

Revenue growth (QoQ)

-10.56%

Revenue growth 10Y

1.68%

Revenue growth 3Y

-2.92%

Revenue growth 5Y

0.68%

Revenue growth years

Metric	Value
Capital expenditures	CNY -2.3B
Depreciation and amortization	CNY 1.1B
EBIT	CNY 4.7B
EBITDA	CNY 5.8B
EPS	CNY 3.20
FCF per share	CNY 2.16
Financing cash flow	CNY -3.3B
Free cash flow	CNY 2.9B
Free cash flow minus SBC	CNY 2.9B
Gross profit	CNY 13B
Income taxes	CNY 1.6B
Investing cash flow	CNY -2.4B
Net borrowing	CNY -50.6M
Net cash flow	CNY -426.8M
Net income	CNY 4.4B
Operating cash flow minus SBC	CNY 5.3B
Operating income	CNY 4.7B
Revenue	CNY 31.1B
Stock-based compensation	CNY 195,413

Metric

Value

Capital expenditures

CNY -2.3B

Depreciation and amortization

CNY 1.1B

EBIT

CNY 4.7B

EBITDA

CNY 5.8B

EPS

CNY 3.20

FCF per share

CNY 2.16

Financing cash flow

CNY -3.3B

Free cash flow

CNY 2.9B

Free cash flow minus SBC

CNY 2.9B

Gross profit

CNY 13B

Income taxes

CNY 1.6B

Investing cash flow

CNY -2.4B

Net borrowing

CNY -50.6M

Net cash flow

CNY -426.8M

Net income

CNY 4.4B

Operating cash flow minus SBC

CNY 5.3B

Operating income

CNY 4.7B

Revenue

CNY 31.1B

Stock-based compensation

CNY 195,413

Metric	Value
Book value per share	CNY 23.80
Debt / EBITDA	0.01
Debt / equity	0
Debt / FCF	0.03
Goodwill	CNY 1.3B
Interest coverage	285.33
Long-term assets	CNY 26.9B
Long-term liabilities	CNY 4.1B
Net cash (debt)	CNY 20.4B
Net cash / market cap	35.91%
Net cash growth	-2.99%
Net debt / EBITDA	-3.49
Net debt / equity	-0.61
Net debt / FCF	-6.91
Piotroski F-Score	6
Property, plant and equipment	CNY 13.8B
Shareholders' equity	CNY 33.4B
Tangible book value	CNY 28.7B
Tangible book value per share	CNY 21.00
Total assets	CNY 52.9B
Total cash	CNY 20.5B
Total debt	CNY 80.1M
Total liabilities	CNY 19.5B
WACC	6.06%

Metric

Value

Book value per share

CNY 23.80

Debt / EBITDA

0.01

Debt / equity

Debt / FCF

0.03

Goodwill

CNY 1.3B

Interest coverage

285.33

Long-term assets

CNY 26.9B

Long-term liabilities

CNY 4.1B

Net cash (debt)

CNY 20.4B

Net cash / market cap

35.91%

Net cash growth

-2.99%

Net debt / EBITDA

-3.49

Net debt / equity

-0.61

Net debt / FCF

-6.91

Piotroski F-Score

Property, plant and equipment

CNY 13.8B

Shareholders' equity

CNY 33.4B

Tangible book value

CNY 28.7B

Tangible book value per share

CNY 21.00

Total assets

CNY 52.9B

Total cash

CNY 20.5B

Total debt

CNY 80.1M

Total liabilities

CNY 19.5B

WACC

6.06%

Metric	Value
Asset turnover	0.6
Current assets	CNY 26B
Current liabilities	CNY 15.4B
Current ratio	1.68
Inventory turnover	9.27
Net working capital	CNY -9.9B
Quick ratio	1.34
Working capital	CNY 10.6B
Working capital turnover	3.2

Metric

Value

Asset turnover

0.6

Current assets

CNY 26B

Current liabilities

CNY 15.4B

Current ratio

1.68

Inventory turnover

9.27

Net working capital

CNY -9.9B

Quick ratio

1.34

Working capital

CNY 10.6B

Working capital turnover

3.2

Metric	Value
Buyback yield / dilution	-0.02%
Dividend growth	6.82%
Dividend growth (10Y)	19.67%
Dividend growth (3Y)	9.29%
Dividend growth (5Y)	25.66%
Dividend growth years	8
Dividend payment date	2026-07-16
Dividend payment years	27
Dividend payout frequency	Annual
Dividend per share	CNY 2.35
Dividend yield	4.74%
Ex-dividend date	2026-07-16
FCF payout ratio	111.14%
Last dividend	CNY 2.35
Payout ratio	74.89%
Shareholder yield	4.72%

Metric

Value

Buyback yield / dilution

-0.02%

Dividend growth

6.82%

Dividend growth (10Y)

19.67%

Dividend growth (3Y)

9.29%

Dividend growth (5Y)

25.66%

Dividend growth years

Dividend payment date

2026-07-16

Dividend payment years

Dividend payout frequency

Annual

Dividend per share

CNY 2.35

Dividend yield

4.74%

Ex-dividend date

2026-07-16

FCF payout ratio

111.14%

Last dividend

CNY 2.35

Payout ratio

74.89%

Shareholder yield

4.72%

Metric	Value
10Y price change	58.94%
10Y return CAGR	6.65%
10Y total return	90.41%
150-day SMA	CNY 56.09
15Y price change	45.04%
15Y return CAGR	4.12%
15Y total return	83.16%
1D price change	-0.94%
1M price change	-0.6%
1M total return	-0.6%
1W price change	-0.84%
1W total return	-0.84%
1Y price change	-24.82%
1Y return CAGR	-21.47%
1Y total return	-21.46%
20-day SMA	CNY 50.79
200-day SMA	CNY 57.61
20Y price change	371.79%
20Y return CAGR	9.63%
20Y total return	529.22%
3M price change	-6.57%
3M total return	-6.57%
3Y price change	-41.24%
3Y return CAGR	-13.29%
3Y total return	-34.8%
50-day SMA	CNY 51.01
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 67.15
52-week high date	2025-11-14
52-week low	CNY 49.48
52-week low date	2026-09-29
5Y price change	-46.1%
5Y return CAGR	-9.25%
5Y total return	-38.44%
6M price change	-19.89%
6M total return	-16.31%
All-time high	CNY 125.65
All-time high date	2023-04-10
All-time low	CNY 2.61
All-time low date	1994-07-29
Average true range (ATR)	CNY 0.85
Average volume	4.4M
Beta (1Y)	-0.09
Beta (2Y)	-0.18
Beta (5Y)	0.33
Change from 52-week high	-26.15%
Change from 52-week low	0.22%
Change from all-time high	-60.53%
Change from all-time low	1,797.82%
Change from open	-1.02%
Day's gap	0.08%
Dollar volume	CNY 273.2M
High price	CNY 50.37
Low price	CNY 49.53
Monthly RSI	34.88
Open price	CNY 50.10
Position in 52-week range	7.14%
Previous close	CNY 50.06
Price vs 150-day SMA	-11.59%
Price vs 20-day SMA	-2.35%
Price vs 200-day SMA	-13.92%
Price vs 50-day SMA	-2.78%
Relative volume	1.3
RSI	39.99
Sharpe ratio	-1.59
Sharpe ratio (3Y)	-0.68
Sharpe ratio (5Y)	-0.23
Sortino ratio	-1.87
Sortino ratio (3Y)	-0.81
Sortino ratio (5Y)	-0.17
Volume	5.5M
Weekly RSI	34.04
YTD price change	-18.97%
YTD total return	-15.35%

Metric

Value

10Y price change

58.94%

10Y return CAGR

6.65%

10Y total return

90.41%

150-day SMA

CNY 56.09

15Y price change

45.04%

15Y return CAGR

4.12%

15Y total return

83.16%

1D price change

-0.94%

1M price change

-0.6%

1M total return

-0.6%

1W price change

-0.84%

1W total return

-0.84%

1Y price change

-24.82%

1Y return CAGR

-21.47%

1Y total return

-21.46%

20-day SMA

CNY 50.79

200-day SMA

CNY 57.61

20Y price change

371.79%

20Y return CAGR

9.63%

20Y total return

529.22%

3M price change

-6.57%

3M total return

-6.57%

3Y price change

-41.24%

3Y return CAGR

-13.29%

3Y total return

-34.8%

50-day SMA

CNY 51.01

50-day SMA vs 200-day SMA

50under200

52-week high

CNY 67.15

52-week high date

2025-11-14

52-week low

CNY 49.48

52-week low date

2026-09-29

5Y price change

-46.1%

5Y return CAGR

-9.25%

5Y total return

-38.44%

6M price change

-19.89%

6M total return

-16.31%

All-time high

CNY 125.65

All-time high date

2023-04-10

All-time low

CNY 2.61

All-time low date

1994-07-29

Average true range (ATR)

CNY 0.85

Average volume

4.4M

Beta (1Y)

-0.09

Beta (2Y)

-0.18

Beta (5Y)

0.33

Change from 52-week high

-26.15%

Change from 52-week low

0.22%

Change from all-time high

-60.53%

Change from all-time low

1,797.82%

Change from open

-1.02%

Day's gap

0.08%

Dollar volume

CNY 273.2M

High price

CNY 50.37

Low price

CNY 49.53

Monthly RSI

34.88

Open price

CNY 50.10

Position in 52-week range

7.14%

Previous close

CNY 50.06

Price vs 150-day SMA

-11.59%

Price vs 20-day SMA

-2.35%

Price vs 200-day SMA

-13.92%

Price vs 50-day SMA

-2.78%

Relative volume

1.3

RSI

39.99

Sharpe ratio

-1.59

Sharpe ratio (3Y)

-0.68

Sharpe ratio (5Y)

-0.23

Sortino ratio

-1.87

Sortino ratio (3Y)

-0.81

Sortino ratio (5Y)

-0.17

Volume

5.5M

Weekly RSI

34.04

YTD price change

-18.97%

YTD total return

-15.35%

Metric	Value
Float	919.1M
Shares change (QoQ)	0.06%
Shares change (YoY)	0.02%
Shares held by insiders	0.04%
Shares held by institutions	28.54%
Shares outstanding	1.4B

Metric

Value

Float

919.1M

Shares change (QoQ)

0.06%

Shares change (YoY)

0.02%

Shares held by insiders

0.04%

Shares held by institutions

28.54%

Shares outstanding

1.4B

SHA/600600 (SHA/600600)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600600

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600600 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600600

Frequently asked questions