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Beer stocks are strong, China Resources Beer (00291) rose 3.94%, institutions indicated that national hot weather since July has driven increased demand.
Golden Finance News | Beer stocks strengthen, China Resources Beer (00291) up 3.94%, Tsingtao Brewery (00168) up 1.04%, Bud APAC (01876) follows suit. Dongguan Securities research report pointed out that the performance of the beer industry is divergent in the second quarter. In the short term, since July this year, the national high temperature weather has driven an increase in beer demand, coupled with the hosting of large-scale sports events, sales in the third quarter are expected to improve compared to the previous quarter. In terms of costs, the anti-dumping policy of Australian barley is expected to be lifted, which is expected to alleviate the cost pressure on liquor companies. In the medium to long term, the high-end trend of the beer industry remains unchanged. On the one hand, against the background of improved consumer spending levels
Hong Kong stocks rose more than 5%: China Resources Beer (00291) sales pressure in the first half of the year, institutions said that the base pressure is expected to ease in the second half of the year.
China Res Beer (00291) is up over 5%, as of press time, up 4.81% at HKD 23.95, with a turnover of HKD 0.15 billion.
Here's Why China Resources Beer (Holdings) (HKG:291) Can Manage Its Debt Responsibly
CITIC Securities: How to look forward to the future of the csi sws food & beverage index & liquor sector in the mid-term report?
CITIC Securities released a research report stating that the Q2 light meal chain industry continues to show weak demand, with pressure on store efficiency and expansion.
UBS group: Maintains buy rating on China Res Beer, while lowering the target price to 29.43 Hong Kong dollars.
UBS released a research report stating that it has lowered the target price for China Resources Beer (00291) from HKD 43.7 to HKD 29.43. This is valued based on the discounted cash flow rate, which is equivalent to 9.5 times the enterprise value to EBITDA this year. The rating remains 'buy'. The bank mentioned that it has lowered the profit forecast for the company from 11% to 18% for the period of this year to 2026, reflecting a downward adjustment in the average selling price and sales volume forecast for beer. This is due to a decrease in in-store beer consumption by consumers, which has slowed down the growth of high-end product sales. Additionally, the forecast for the company's EBITDA compound annual growth rate for the period of this year to 2026 has been lowered from 12.4% to 8.8%.
[Brokerage Focus] Guosen Securities maintains a "better than market" rating for China Res Beer (00291), pointing out that the recovery of beer demand is slow, but the long-term growth space is still considerable.
Guosen Securities issued a research report stating that China Resources Beer (00291) achieved a total revenue of 23.744 billion yuan in 24H1, a decrease of 0.5% YoY, achieved a profit before tax of 6.368 billion yuan, an increase of 2.0% YoY, and achieved a net income attributable to the parent company of 4.705 billion yuan, an increase of 1.2% YoY. In terms of beer business, the first half of the year realized revenue of 22.566 billion yuan, a decrease of 1.4% YoY. In terms of splitting sales volume and price, the total sales volume in the first half of the year decreased by 3.4% YoY, mainly due to the weak overall demand in the industry, unfavorable weather, and the high base number in the same period of last year, but the company's sales performance is better than part of the industry.
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