A Tsingtao employee was caught on camera urinating on a container of beer ingredients at the facility. The footage of the incident quickly went viral on the internet and drew harsh criticism. Upon becoming aware of the situation, the corporation conducted an investigation into the viral video and released a clarification. The Shanghai-listed company’s shares fell as much as 7.5% in early trade on Monday as the video began to circulate on the internet.
A video clip showed someone urinating in the warehouse containing raw material for Tsingtao Beer went viral on Chinese social media. Regulators of Pingdu County, Qingdao, have started an investigation.
A bearish news for Tsingtao Beer(SH600600).#China #Tsingtao pic.twitter.com/sani5QL2Vx— CN Wire (@Sino_Market) October 20, 2023
Despite making some progress, the company’s shares ended the day 3.34% lower on the Hong Kong Stock Exchange. On social media, the viral video clip has received tens of millions of views. In reaction to the viral footage, the corporation stated that it quickly notified police after becoming aware of the situation. Notably, Tsingtao is regarded as one of China’s leading beer makers and exporters.