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HK stocks fluctuate | China Res Beer (00291) fell more than 8%, leading the decline in beer stocks. Institutions believe that the market does not have high expectations for the performance of the beer industry leader in the second half of the year.
Beer stocks continue to decline. As of the time of publication, China Resources Beer (00291) fell by 8.43% to HK$30.95; Tsingtao Brewery (00168) dropped by 5% to HK$56.1; Bud APAC (01876) decreased by 2.59% to HK$8.65.
China Resources Beverage's IPO will be held from October 15th to October 18th, with plans to issue 348 million shares.
China Resources Beverage (02460) will be listed from October 15th to October 18th, 2024. The company plans to issue 0.348 billion shares, with 11% for public offering and 89% for placement, as well as an additional 15% over-allotment option. The offer price will not exceed HK$14.5 per share, with an expected minimum of HK$13.5 per share, trading board lot size is 200 shares, and the expected trading of shares will start on October 23, 2024 (Wednesday) on the Stock Exchange of Hong Kong.
Is China Resources Beer (Holdings) Company Limited's (HKG:291) Recent Stock Performance Tethered To Its Strong Fundamentals?
Hong Kong stocks are moving abnormally | Beer stocks are fluctuating and rising, the industry will enter a low base period, sales and profit growth rates are expected to gradually improve.
Beer stocks are fluctuating and rising. As of the time of publishing, China Res Beer (00291) rose by 7.98%, to 33.15 Hong Kong dollars; Bud APAC (01876) rose by 3.41%, to 9.39 Hong Kong dollars; Tsingtao Brew (00168) rose by 2.09%, to 58.5 Hong Kong dollars.
Boosting the heat with top sports events, the non-alcoholic beer global market is smoothly advancing.
Millennials play a leading role in driving the growth of non-alcoholic consumer consumption, and this role continues to strengthen.
Furui: Upgraded Conch Cement and CR Building Materials to a 'buy' rating, raising the target price of Chinese cement stocks.
Furui released a research report stating that the target price of Chinese cement stocks has been raised. Conch Cement (00914) target price increased from 15 Hong Kong dollars to 30 Hong Kong dollars, and China Resources Building Materials (01313) target price increased from 0.94 Hong Kong dollars to 2.47 Hong Kong dollars, with both stocks' ratings upgraded to 'buy'. China National Building Material (03323) target price also increased from 4.01 Hong Kong dollars to 6.04 Hong Kong dollars, maintaining a 'buy' rating. The bank pointed out that the stimulus measures announced in the mainland at the end of last month were surprising. The bank believes that this round of quantitative easing is sustainable and will help reverse the demand. Most commodities are in good destocking before the peak season arrives.
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