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Goldman Sachs: Initiates a "buy" rating for China Resources Beverage with a target price of 17.3 HKD.
Goldman Sachs released a research report stating that China Resources Beverage (02460), leveraging its advantages in brand, production, and distribution network, can maintain its position as the second largest player in the packaging water market valued at 230 billion yuan and continue to expand in the carbonated beverage market valued at 689 billion yuan. The firm has initiated coverage on China Resources Beverage with a 'buy' rating and a target price of 17.3 HKD. The firm forecasts that the company's annual compound sales growth rate from 2023 to 2028 will reach 8%, with a profit margin of 20%, and the net income margin is expected to expand from 10% to 17%, primarily benefiting from category expansion, channel widening, and gross margin improvement.
[Brokerage Focus] UBS Group rates China Resources Beverage (02460) as a "buy", pointing out its potential in channel expansion.
Jin Wu Financial News | Recently, the ubs group global research department released a research report analyzing the performance and market presence of China Resources Beverages (02460) in depth. As the second largest player in the packaged water market and the fifth largest in the ready-to-drink soft drink market in China, the company's retail value shares in 2023 were 18.4% and 4.7%, respectively. The company's revenue and EBITDA compound annual growth rates from 2014 to 2023 were 6% and 17%, respectively. In the first quarter of fiscal year 2025, the company's revenue was 2.6 billion Hong Kong dollars, a year-on-year decrease of 6%, net income was 0.148 billion Hong Kong dollars, a year-on-year decrease of 28%, and the gross margin reached 29.
Bank of China International Starts China Resources Beverage at Buy With HK$18.22 Price Target
Guolian: The competition in the packaged water industry is intensifying. Bullish on the long-term growth potential of industry leaders.
Per capita consumption in the bottled water market in China is relatively low compared to the United States and Japan. The growth of demand for healthy drinking water and large bottled water is expected to further drive the expansion of the Chinese bottled water market.
HK Stocks Update | China Resources Beverage (02460) fell over 4% at the close, raising nearly 0.72 billion by partially exercising the excess rights issue. Institutions say the intense price war on bottled water.
China Resources Beverage (02460) fell more than 4% at the close, hitting a low of 13.9 Hong Kong dollars during the day, setting a new low since listing. As of the time of writing, it is down 3.59% at 13.98 Hong Kong dollars, with a turnover of 32.2719 million Hong Kong dollars.
China Resources Beverage (02460.HK) partially exercises the over-allotment option for additional shares.
Guanglunhui November 12th | China Resources Beverage (02460.HK) announced that the company's overall coordinator (for itself and on behalf of international underwriters) will partially exercise the excess share allotment right described in the prospectus on November 12, 2024 (Tuesday), involving a total of 50,370,400 shares, accounting for approximately 14.48% of the total number of shares available for subscription before the excess share allotment right was exercised globally. The excess share allocation will be priced at HK$14.50 per share by the company (i.e., the offer price per share under the global offering, excluding 1% brokerage commission, 0.0027% securities and exchange commission fee).
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