00291 CHINA RES BEER
- 27.850
- +0.300+1.09%
CHINA RES BEER News
China Res Beer (00291) fell 2.3% in Hong Kong Stock Connect. China Merchants reduced its target price by 18.5%, and the recovery trend in early July remains to be confirmed.
China Resources Beer (00291) stock price has fallen. As of the time of publication, it has dropped 2.3%, to HKD 27.55, with a turnover of 0.139 billion HKD. China Merchants Securities stated that it revised its full-year revenue growth expectation for China Resources Beer from 12.6% to 4.9% to reflect its lackluster performance in the first half of the year, with an expected growth of 10% in the second half of the year. It increased its full-year gross margin forecast by 0.8 percentage points to reflect the positive effects of product mix upgrades and cost savings, despite the deleveraging of production in the first half of the year. It lowered its full-year operating expense ratio by 0.5 percentage points to reflect the cost-saving measures implemented by management.
Beer stocks are gaining against the market trend. Bud APAC (01876) rose 2.61%. Institutions are bullish on beer's performance during the peak season.
Jingu Financial News: Beer stocks are doing well against the trend, with Bud APAC (01876) up 2.61%, Tsingtao Brew (00168) up 1.95%, China Res Beer (00291) up 1.59%, and San Miguel HK (00236) up 0.96%. Galaxy Securities is bullish on beer sales in the peak season. In May 2024, China's beer production was 3.535 million kiloliters, a year-on-year increase of 4.5%. The cumulative production in the first five months of 2024 was 15.045 million kiloliters, a year-on-year increase of +0.7%. The high base effect will still exist in 2023. The sales peak season in July is coming, along with a high base effect from the previous year.
Goldman Sachs: Weak consumer demand affects beer market, lowering target prices for multiple beer stocks.
Goldman Sachs believes that the domestic beer market is currently facing headwinds in the short term, and has lowered its profit forecast for beer stocks from 2024 to 2026 by 1% to 11% respectively to reflect the weak consumer trend.
HK stocks surge | China Res Beer (00291) rises more than 3%, leading the beer stocks. The product structure continues to upgrade, and the sales performance in the peak season is worth looking forward to.
Beer stocks are rising. As of press time, China Resources Beer (00291) is up 3.08%, trading at HK$28.45; Bud APAC (01876) is up 2.57%, trading at HK$9.96, and Tsingtao Brewery (00168) is up 2.17%, trading at HK$51.7.
Brokerage focused on bullish beer's sales performance during the peak season.
Galaxy Securities is bullish on the performance of beer sales during peak season. In May 2024, China's beer production was 3.535 million kiloliters, a year-on-year increase of 4.5%. From January to May 2024, cumulative production was 15.045 million kiloliters, a year-on-year increase of 0.7%. The high base effect of 2023 still exists. With the approach of the sales peak season in July and the gradual weakening of the high base effect of the previous year, as well as the active sales and brand promotion strategies of various listed companies, the bank expects that sales during the peak season will perform well.
Private Companies Are China Resources Beer (Holdings) Company Limited's (HKG:291) Biggest Owners and Were Rewarded After Market Cap Rose by HK$5.7b Last Week
Key Insights Significant control over China Resources Beer (Holdings) by private companies implies that the general public has more power to influence management and governance-related decisions
CITIC Lyon: Rated China Res Beer (00291) as "outperform". Target price lowered to 33 Hong Kong dollars.
Zhongxin Lianhe released a research report stating that it downgraded China Res Beer's (00291) target price from HKD 42 to HKD 33, a decrease of 21.4%, and rated it as "outperforming the market." The company's beer sales are facing pressure similar to its peers, but the highlight of its performance may come from its sustained product portfolio upgrades, especially Heineken, which is expected to grow by about 20% year-on-year in the first half. Although the industry slowed down in the second quarter compared to the first quarter, the bank believes that this is mostly reflected in China Res Beer's stock price and expects much better relative performance in the third quarter due to the base effect. The bank believes that from July onwards, beer sales will improve every month.
Alcoholic beverage concepts are rising, China Resources Beer (00291) is up 4.17%, and Zhongtai Securities predicts that beer sales may reverse.
Alcoholic beverages concept rises across the board. As of the drafting time, China Res Beer (00291) rose 4.17%, Dynasty Wines (00828) rose 3.77%, Tsingtao Brew (00168) rose 3.53%, San Miguel HK (00236) rose 3.19%. On the news front, Zhongtai Securities believes that the short-term consumption scene for beer will increase with the hosting of the European Cup in late June. Beer consumption continues to heat up, and the volume of customers in fan gathering places such as bars and taverns has greatly increased. The demand for late-night snacks by ‘stay-at-home’ fans has also driven a significant increase in beer orders in instant retail channels. With the weather
Hong Kong stock market abnormality | Beer stocks rebounded in the morning, and the sector entered a low base from Q3, with multiple scenarios catalyzing on the demand side.
According to the Wisdom Finance APP, beer stocks rebounded in early trading. As of press time, China Resources Beer (00291) rose 3.61% to HKD 27.3; Tsingtao Brew (00168) rose 3.33% to HKD 49.7; and Bud APAC (01876) rose 0.73% to HKD 9.71. Founder Securities pointed out that due to the high base, weaker performance in dining, and the impact of rainy weather, we expect that beer industry Q2 sales volume will come under pressure, the trend of structural upgrading will continue, cost improvement has certainty, and overall profitability is stable. Looking forward to the whole year, we believe that starting from Q3, the entire sector will enter a low base, continuing the trend of structural upgrading.
Guotou Securities: Individual stock dividend yields highlight value, and the food and beverage sector enters the allocation range.
Zhìtōng Cáijīng APP learned that Guótóu Securities has released a research report stating that Maotai's batch pricing is gradually stabilizing, leading companies are expressing their stance, and individual stock dividend yields highlight value, the sector has entered the range of allocation.
China Res Beer (00291) has signed a Comprehensive Energy Project Framework Agreement with China Res Power and China Res Gas for comprehensive energy project cooperation.
China Res Beer (00291) announced that, on July 2, 2024, the company signed separate agreements with China Res Power and China Res Gas...
China Res Beer (00291) rose more than 3% in rebound, and the effectiveness of its high-end strategy is remarkable. Qing Beer's dividend is expected to increase year by year.
China res beer (00291) rebounded by more than 3%. As of the time of publication, it rose 3.24% to HKD 27.10, with a turnover of HKD 176 million.
[Brokerage Focus] ANXIN International: The common point of consumer trends in China and the United States is that weak recovery is evident this year.
Jinwu Financial News | Anxin International released a research report stating that the common point of consumption in China and the United States is that it has exhibited a weak recovery this year. After reaching the peak of growth in February and March respectively, consumption growth has declined; the growth of selective consumption has been weaker than that of essential consumption, and there are differences in the growth of different sectors. The recovery of consumption in China is weaker than that in the United States, and it is weaker compared to the level before the epidemic. The recovery of offline service consumption such as dining and tourism is not as good as that of the United States. The market performance of Hong Kong's consumer sector is weaker than that of the US stock market, and the current sentiment is relatively low. In terms of valuation, the valuation of Hong Kong stocks is at a historically low level.
China Res Beer (00291) has achieved significant results in its high-end global strategy, with continuous release of profits and an initial rating of "shareholding" from Open Source Securities.
Open Source Securities expects China Res Beer (00291) to achieve net income attributable to shareholders of 5.99 billion yuan, 6.695 billion yuan, and 7.352 billion yuan from 2024 to 2026.
China Res Beer (00291.HK) has entered into a framework agreement with China Resources Group for the supply of alcoholic beverages.
On June 27th, 2024, China Res Beer (00291.HK) announced that the company had entered into a framework agreement with China Resources (Holdings) Co., Ltd. for the supply of alcoholic products. Accordingly, the group agreed to supply alcoholic products to China Resources Group and its subsidiaries for a period of three years.
CICC: It is expected that the Chinese food and beverage industry will moderately recover in the second half of the year, and H shares will favor companies such as Mengniu Dairy in the industry.
CICC released a research report stating that it is bullish on three investment themes in the second half of the year, including leading companies in high-growth tracks, stocks with high dividends, potential dividend-increasing stocks with abundant cash reserves and low valuations that are expected to see marginal improvement. The bank maintains profit forecasts and valuations for food and beverage stocks, and prefers U-Presid China (00220), Tingyi (00322), WH Group (00288), ZhenJiuLiDu (06979), China Res Beer (00291), Mengniu Dairy (02319), and Yihai Intl (01579) listed in Hong Kong. CICC pointed out that the food and beverage industry experienced weak recovery in the first half of the year.
CICC expects a moderate recovery in the second half of the year in the Chinese food and beverage industry. H-share investors prefer stocks like Mengniu Dairy (02319).
Zhijun Finance APP learned that CICC released a research report stating that it is bullish on three investment themes in the second half of the year, including leading players in high-growth tracks, high-dividend stocks, individual stocks with abundant cash reserves and potential for dividend growth, and undervalued targets that are expected to see marginal improvement. The bank maintains profit forecasts and valuations for food and beverage stocks, and prefers U-Presid China (00220), Tingyi (00322), WH Group (00288), Zhenjiu Lidu (06979), China Res Beer (00291), Mengniu Dairy (02319), and Yihai Intl (01579). CICC pointed out that in the first half of the year, food
China Resources Beer (Holdings) Company Limited's (HKG:291) Business Is Trailing The Market But Its Shares Aren't
When close to half the companies in Hong Kong have price-to-earnings ratios (or "P/E's") below 9x, you may consider China Resources Beer (Holdings) Company Limited (HKG:291) as a stock to avoid entire
Statistics on short selling of Zhitong Hong Kong stock | June 26th
Statistics on short selling in Hong Kong stock market | June 26th
Goldman Sachs: rating China Resources Beer (00291) as a "buy," with a target price of HKD 51.
Goldman Sachs expects the overall channel inventory of the beer industry to normalize by the end of 2024.
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