Tsingtao Brewery's (HKG:0168, SHA:600600) net profit attributable to shareholders in the third quarter rose 1.6% year on year to 1.37 billion yuan, according to a Hong Kong bourse filing on Monday.

The Chinese brewery's Hong Kong shares dropped over 3% and Shanghai shares slipped less than 1% during the morning trade.

Earnings per share increased 1.5% year on year to 1.004 yuan.

Revenue slipped 0.2% from a year earlier to 8.88 billion yuan.