00291 CHINA RES BEER
- 26.550
- +0.350+1.34%
CHINA RES BEER News
[Brokerage Focus] Bocom Intl cuts China Res Beer (00291) target price by 15.1%, citing overall weak performance in the dining market this year.
Jinwu Financial News | Bocom Intl stated that the dining channel is an important channel for beer sales (over 40%), but the overall performance of the dining market has been relatively weak this year. The challenging beer consumption environment and changing weather have also negatively impacted the beer market. China res beer (00291) has performed better than the industry, and the high-end process is still ongoing. Management stated that the company will continue to promote high-end, differentiated, and regional products. At the same time, the company will innovate in new product development, consumer channels and scenarios expansion, and marketing models. Due to short-term industry pressure, the bank has lowered its financial estimates and target price, but remains bullish on the company.
Hong Kong stock movement | Beer stocks decline in the afternoon. In October, the beer production of large-scale enterprises has once again turned to decline. Policies are expected to stimulate improvement in end demand.
Beer stocks fell in the afternoon. As of the time of reporting, china res beer (00291) dropped by 4.1%, priced at 25.75 HKD; bud apac (01876) decreased by 2.12%, priced at 7.37 HKD; tsingtao brew (00168) fell by 1.62%, priced at 48.5 HKD.
Hong Kong stocks anomaly | Most consumer stocks rise Helen of Troy (09869) up more than 7% China Feihe (06186) up nearly 6%
Most csi consumer 360 index stocks rose. As of the time of writing, Helen's (09869) rose 7.38%, at 2.62 HKD; china feihe (06186) rose 5.78%, at 5.67 HKD; zjld (06979) rose 5.55%, at 7.04 HKD.
China Resources Beer Updates Board Leadership
China Resources Beer Appoints New Non-Executive Director
China Resources Beer: Wang Chengwei Appointed as Nonexecutive Director
2.1% Earnings Growth Over 3 Years Has Not Materialized Into Gains for China Resources Beer (Holdings) (HKG:291) Shareholders Over That Period
CICC: Maintains a "outperform" rating on China Res Beer (00291) with the target price lowered to 35.9 Hong Kong dollars.
Jianyin International has lowered its beer sales volume and average product price forecast for the second half of Lukang Beer from a decline of 2.2% and growth of 2.4% to a decline of 2.9% and growth of 2.1%.
HK stock anomaly | China Res Beer (00291) fell nearly 5%, institutions expect weaker sales in the second half of the year than expected, lowering profit forecasts and target price.
China Res Beer (00291) fell nearly 5%, as of the time of publication, it dropped by 4.94%, closing at 29.85 Hong Kong dollars, with a turnover of 0.323 billion Hong Kong dollars.
HK stock abnormal movement | Liquor stocks decline in early trading, baijiu continues to be under pressure, beer sales decline, institutions say policy impact on consumer spending still needs to be observed
Alcohol stocks fell in the morning session, as of the deadline, China Res Beer (00291) fell by 6.37%, to 29.4 Hong Kong dollars; Tsingtao Brew (00168) fell by 5.14%, to 51.7 Hong Kong dollars; Bud APAC (01876) fell by 3.58%, to 8.35 Hong Kong dollars; ZJLD (06979) fell by 3.87%, to 7.45 Hong Kong dollars.
[Brokerage Focus] Haitong Int'l cuts target price of China Res Beer (00291) by 14.29% as industry demand continues to be under pressure in the second and third quarters of this year.
Jingu Information | Haitong International issued research reports, stating that China Res Beer (00291) achieved revenue/net income of 23.74/4.7 billion yuan in 24H1, -0.5%/+1.2% year-on-year. Due to the negative impact of a high base and weather, the beer business generated revenue of 22.57 billion yuan, down 1.4% year-on-year, with sales volume/ton price down 3.4%/+2.0% year-on-year, both showing better performance than the industry average. Benefiting from the improvement of product structure and some packaging cost reductions, the beer business gross margin increased by 0.6 percentage points to 45.8%. As for baijiu, after refreshing the abstract and stabilizing prices through reducing inventory and reshaping the organization.
Daiwa: Downgrade tsingtao brew to "hold" rating, target price lowered to 52.6 Hong Kong dollars.
Daiwa has released a research report stating that the rating of Tsingtao Brewery (00168) has been downgraded from "buy" to "hold", and the H-share target price has been lowered by 24%, from HK$69 to HK$52.6. Due to weak consumer willingness in China and increasingly fierce competition in the mid-to-high-end beer market, although Tsingtao Brewery has made investments in sales and marketing, Daiwa believes that Tsingtao Brewery's high-end process in 2025 will slow down, leading to a slowdown in operating profit margin expansion. Daiwa stated that due to the strong performance of the Tsingtao Brewery brand, it is predicted that sales volume and average selling price will both increase by 1% in 2025. Daiwa has also revised the group's 202
guolian: The fundamentals of the liquor sector in 2024Q3 have bottomed out, and the report is slowing down.
Overall, the revenue growth rate of key baijiu industry companies in 2024Q3 calculated by the method of law is 2.41%, with high-end liquor/second-tier liquor/regional liquor revenue growth rates of +9.59%/-0.38%/-15.64% respectively, each decreasing by 4.65/8.87/23.32 percentage points compared to the previous period.
Hong Kong stocks are active | Beer stocks rose in the late trading, with the hope of improving demand supporting the volume and price of beer. The leading beer company continues its steady growth.
Beer stocks rose in the final hour, as of the deadline, bud apac (01876) rose by 5.24%, closing at 8.44 Hong Kong dollars; china res beer (00291) rose by 4.61%, closing at 30.65 Hong Kong dollars; and tsingtao brew (00168) rose by 2.14%, closing at 52.5 Hong Kong dollars.
Debang Securities: Differentiation in the food and beverage sector's financial reports in the third quarter, Maotai (600519.SH) prices hit bottom and rebounded.
In the third quarter, the performance of liquor enterprises generally slowed down, with channels releasing pressure to build up momentum for next year. The long-term logic of various sub-sectors of mass market remains unchanged, and it is recommended to focus on symbols with performance exceeding expectations.
Nomura: Maintains 'shareholding' rating for china res beer, target price raised to 34 Hong Kong dollars.
CMB released a research report stating that it has lowered China Res Beer (00291) earnings forecast for 2024 to 2026 by 2% to 5%. The bank has raised the baijiu target price from 32 Hong Kong dollars to 34 Hong Kong dollars, with a 'shareholding' rating. The bank lowered the group's sales forecast for this year by 3% to reflect weak beer demand and reduced baijiu sales forecasts, while sales in 2025 and 2026 are expected to drop by 6% on a lower base. Due to weak sales in the mid-to-high-end business, the bank assumed a decrease of 0.5, 1.1, and 1.3 percentage points in the gross margin for each of the years 2024 to 2026, but still expects profit expansion. This is likely to be anticipated in the operating results.
Currently entering the off-season for beer consumption, beer stocks are under pressure. Tsingtao Brew (00168) fell by 5.39%.
King Wealth News | Currently entering the off-season for beer consumption, beer stocks are under pressure, Tsingtao Brewery (00168) down by 5.39%, China Resources Beer (00291) down by 2.27%, Bud APAC (01876) down by 1.29%. Donghai Securities stated that based on the third-quarter reports of some beer companies, Q3 revenue is under pressure, and profit elasticity is showing. Mainly due to the continued weakness in Q3 dining consumption, with reduced frequency of current dining consumption. The bank pointed out that during the off-season of beer consumption, it is important to pay attention to the inventory structure of each beer company.
Goldman Sachs: Maintains a "buy" rating on China Resources Beer (00291) with a target price of 38.1 Hong Kong dollars.
China Res Beer management expects future capital spending to decrease and is committed to gradually increasing the dividend payout ratio to 60%-70% in the coming years.
China Resources Beer (Holdings) Company Limited (HKG:291) Stock Most Popular Amongst Private Companies Who Own 52%, While Individual Investors Hold 31%
[Brokerage Focus] Guosheng Securities initiates a 'buy' rating on China Res Beer (00291), indicating that the company will be the first to benefit from the sector's recovery.
Jingu Financial News | Guosheng Securities issued research reports, stating that China Resources Beer (00291), in terms of brand, in 2020, officially teamed up with Heineken to create a "4+4" high-end brand matrix of "Chinese brand + international brand", accurately targeting different consumer groups. In 2023, officially entered the baijiu industry, with baijiu and beer complementing each other, and the brand strength is expected to further improve. In terms of products, covering all price ranges, four major international brands support four major domestic brands, committed to high-end refinement. Under the large single product strategy, the classic large single product Snowflake Pure Draft, combined with the youthful large single product Heineken, and the adventurous SuperX, continuously exerting efforts. In terms of channels,
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