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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.
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