HK stocks active | China Res Beer (00291) fell more than 6% at one point, institutions predict its first-half performance to be flat, lowering its earnings forecast and target price.

China Res Beer (00291) fell more than 6% at one point. As of press time, it fell 4.07% to HKD 25.9 with a turnover of HKD 0.187 billion.

Zhitong FinanceJul 23 21:43 ET

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.

金吾財訊Jul 19 01:52 ET

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.

金吾財訊Jul 17 21:43 ET

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.

Zhitong FinanceJul 17 08:51 ET

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.

Zhitong FinanceJul 17 03:32 ET

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.

金吾財訊Jul 17 03:24 ET