TSINGTAO Brewery

TSINGTAO Brewery is a China state-owned beer brewing company and one of the 19 Hong Kong-listed H shares.

This time last year, brokerage Salomon Brothers put a sell on the stock saying Tsingtao was set for poor results and upcoming fund raising exercises would dilute earnings.

This was sound advice as Tsingtao and all the other H shares had a disastrous year. Just 12 months ago Tsingtao shares traded at $3.425 and they are now worth $2.525, underperforming the Hang Seng Index by 37.96 per cent.

Salomon says Tsingtao should see stronger growth this year.