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.
HK Stock Market Unusual Movement | Bud APAC (01876) fell more than 4%, leading the decline in beer stocks. Beer demand will be suppressed in the short term, but data is expected to improve month-on-month as the peak season approaches.
Beer stocks fell today. As of press time, China Res Beer (00291) fell by 4.29% to HKD 27.9; Bud APAC (01876) fell by 3.62% to HKD 8.79; Tsingtao Brew (00168) fell by 1.66% to HKD 53.3.
China Beer Industry's Volume Growth Likely to Improve in 2H -- Market Talk
0619 GMT - China beer industry's volume growth is likely to improve in 2H, China Galaxy International Securities analysts say in a research report as they maintain the sector's overweight rating. Give
China Res Beer (00291) rose more than 2.5% against the market in Hong Kong stock exchange, institutions pointed out that it will continue to gain market share in the high-end market.
China Res Beer (00291) rose against the market, and as of the time of publication, rose by 2.52%, with a price of HKD 3055 and a turnover of HKD 71.57 million. Jianyin International released a research report stating that under the support of the summer peak season, gradually recovering consumer confidence, and the increasing demand for social gatherings related to the upcoming global sports events, China Res Beer's beer sales in the second half of the fiscal year 2024 will increase. Considering healthy channel inventory, new product releases, and low base, it is expected that the baijiu sector will achieve double-digit growth in the second half of the year. The overall gross margin increased by 1.5 percentage points year-on-year to 35.4%.
CICC maintains its 'outperform' rating on China Resources Beer (00291) and expects beer sales to rise in the second half of the year.
Jiayan International's research report pointed out that it was cautious about the growth of China Res Beer's beer sales in the first half of the 2024 fiscal year, mainly due to weak consumer demand, exacerbated by macroeconomic uncertainty and unfavorable weather conditions. The bank expects the average sales price (ASP) to increase by 3.5% year-on-year, sales volume to decrease by 3.0%, and total revenue of the beer sector to increase by 0.4%. Given the sustained strong demand for high-end and above categories, Heineken's beer sales are expected to achieve growth of more than 20%. The baijiu sector is expected to see a rebound in sales growth, to mid-double digits.
[Special V] Ye Shangzhi: Hong Kong stocks further retreat, domestic consumption stocks decline the most.
On June 12, the Hong Kong stock market showed a further trend of retracement and downturn. The Hang Seng Index fell for the third consecutive day, falling nearly 240 points, closing below the integer mark of 18,000 points. It should be noted that the market's trend of retracement still has a tendency to further extend, and the mid-term support zone of the Hang Seng Index is estimated to still be between 17,200 to 17,600 points. Ahead of the announcement of the results of the Federal Reserve's interest rate decision, the market's wait-and-see atmosphere is clearly increasing, but the total transaction volume of the market is still recording over 110 billion yuan, higher than the daily average level of the year, and the enthusiasm of funds participating in the market is not significantly weakened. The Hong Kong stock market still has the potential to continue its operation mode of trading stocks without trading the market. It is worth noting that
BOCOM Int'l expects the mainland China consumer index to continue to improve in the second half of the year.
Zhì tōng cáijīng APP learned that bocom intl issued a report stating that consumer performance has been slightly lower than expected since early 2024, but improvement is expected in the second half of the year. The bank pointed out that the consensus expectation for revenue growth of 104 consumer goods companies in 2024 has been lowered from 10.7% six months ago to 9.6%, indicating that consumer demand has been healthy but slightly lower than market expectations since the beginning of the year. The downgrade is mainly from essential consumption, and the performance of optional consumption roughly meets expectations. However, the bank maintains a cautiously optimistic attitude towards the second half of the year, as the low base in the second half of the year, hot weather, and the continued warming of the tourism industry are conducive to essential consumption, and international sports events such as the Beijing Winter Olympics are expected to have a positive impact on discretionary consumption.
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