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Tsingtao Brew: 4.236 million restricted A shares will be listed and circulated on July 24th.
Tsingtao Brew (00168) announced that the lock-up period for restricted stocks incentive plan will expire on July 24, 2024. The number of restricted stocks to be unlocked and listed for trading is 4.236 million.
Express News | Tsingtao Brewery Lock-up Period for 4.2 Mln Shares to End, Shares to Start Trading on July 24
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.
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.
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.
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.
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