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Preview of the adjustment of the China International Capital Corporation's Hong Kong Stock Connect and the Hang Seng Index: 24 companies are expected to be included in the Hong Kong Stock Connect, while 27 may be removed.
CITIC Securities pointed out that 24 companies, such as China Resources Beverage (02460) and KE Holdings (02423), are expected to be included in the Hong Kong Stock Connect, while 27 companies may be removed.
[Brokerage Focus] HAITONG SEC gives the initial rating of "outperform the market" to China Resources Beverage (02460), noting that the sales of packaged drinking water are increasing year by year and the variety is becoming increasingly rich.
Jinwu Financial News | HAITONG SEC reported that China Resources Beverage (02460) will show a stable growth trend in revenue and net income attributable to shareholders from 2021 to 2023, which is above the industry average, and the net profit margin increased from 7.6% in 2021 to 9.9%. The report indicates that the company's bottled drinking water products are centered around the core brand "Yibao" and are constantly enriching the product matrix of bottled drinking water by diversifying water types and expanding product specifications. From 2021 to 2023, the compound annual growth rate of the company's bottled drinking water product revenue reached 7.3%. Additionally, in terms of volume, the sales of bottled drinking water have been increasing year by year (
Hong Kong stocks movement | China Resources Beverage (02460) dropped over 4% at the close, setting a new low since its listing. The bottled water Industry is expected to enter a stage of intense competition.
China Resources Beverage (02460) fell more than 4% in late trading, with a low of 10.86 Hong Kong dollars, setting a new listing low. As of the time of publication, it is down 4.2%, priced at 10.94 Hong Kong dollars, with a trading volume of 71.8378 million Hong Kong dollars.
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
