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Express News | peking transferred 3 parcels of land, attracting over 12.7 billion.
Hong Kong stocks are active | Beer stocks rose in the late trading, with the hope of improving demand supporting the volume and price of beer. The leading beer company continues its steady growth.
Beer stocks rose in the final hour, as of the deadline, bud apac (01876) rose by 5.24%, closing at 8.44 Hong Kong dollars; china res beer (00291) rose by 4.61%, closing at 30.65 Hong Kong dollars; and tsingtao brew (00168) rose by 2.14%, closing at 52.5 Hong Kong dollars.
Great Wall Securities: Differentiation in the catering sector's third-quarter financial statements. Maotai (600519.SH) prices hit bottom and rebounded.
In the third quarter, the performance of liquor enterprises generally slowed down, with channels releasing pressure to build up momentum for next year. The long-term logic of various sub-sectors of mass market remains unchanged, and it is recommended to focus on symbols with performance exceeding expectations.
Express News | China Resources new energy fund and others established a new company in Fuxin with a registered capital of 0.76 billion.
Express News | The results of the national medical insurance negotiations are expected to be released at the end of November 2024.
Nomura: Maintains 'shareholding' rating for china res beer, target price raised to 34 Hong Kong dollars.
Daiwa Securities released a research report stating a 2% to 5% downward adjustment in China Resources Beer (00291) earnings forecast for 2024 to 2026. The bank raised the beer's target price from HK$32 to HK$34, with a rating of "shareholding." The bank lowered the group's sales forecast for this year by 3% to reflect sluggish beer demand and a downward revision in baijiu sales forecast, while sales for 2025 and 2026 are expected to decrease by 6% from a lower base. Due to weak sales in the mid-to-high-end business segment, the bank assumed a 0.5%, 1.1%, and 1.3% decrease in gross margin for the years 2024 to 2026, but still anticipates profit expansion. This is expected to be factored into operating income.
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