00291 CHINA RES BEER
- 29.400
- -0.100-0.34%
CHINA RES BEER News
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.
Daiwa raised the target price of Tsingtao Brewery (00291.HK) to 34 yuan, rated as "shareholding".
Morgan Stanley's research report mentioned that it has lowered the profit forecast for china res beer (00291.HK) for 2024 to 2026 by 2% to 5%. In addition, the bank has reduced the group's sales forecast for this year by 3% to reflect weak beer demand and the downward adjustment of baijiu sales forecasts, with sales expected to further decrease by 6% in 2025 and 2026 on a lower base. Due to weak sales in the middle and high-end business, the bank assumed a decrease in gross margin by 0.5, 1.1, and 1.3 percentage points for 2024 to 2026, but still expects profit expansion. This should be partially offset by expected operating expense savings. Morgan Stanley has adjusted the target price of china res beer from 32 yuan
Express News | China Resources Double-Crane Pharmaceutical: Paricalcitol Injection Obtains Pharmaceutical Registration Certificate
Citi: China Resources Beer (00168.HK) third-quarter net profit is 10% lower than expected.
Citi released a report stating that Tsingtao Brewery (00168.HK) saw a 9% year-on-year decrease in third-quarter net profit to 1.3 billion RMB, 10% lower than the bank's expectations, mainly due to higher-than-expected selling expenses and underperformance in revenue. Although the gross margin expanded by one percentage point year-on-year, both pre-tax profit and net profit decreased by 9% year-on-year, while selling expenses also increased by 14%. Citi maintains a "buy" rating for Tsingtao Brewery with an H-share target price of 84.5 yuan. In the Chinese beer industry, they prefer China Resources Beer (00291.HK) and Bud APAC (01876.HK).
Currently entering the off-season for beer consumption, beer stocks are under pressure. Tsingtao Brew (00168) fell by 5.39%.
Jingu Finance News | Currently entering the off-season for beer consumption, beer stocks are under pressure, with Tsingtao Brewery (00168) falling by 5.39%, China Resources Beer (00291) falling by 2.27%, Bud APAC (01876) falling by 1.29%. Donghai Securities stated that based on the third-quarter reports of some beer companies, Q3 revenue is under pressure, and profit elasticity is showing. This is mainly due to the continued weakness in Q3 dining consumption, with a reduction in current frequency of consumption. The bank points out that during the off-season for beer consumption, attention should be paid to the inventory structure of various beer companies.
Goldman Sachs: Maintains a "buy" rating on China Res Beer (00291) with a target price of 38.1 Hong Kong dollars.
China Res Beer management expects future capital expenditures to decrease and is committed to gradually increasing the dividend payout ratio to 60%-70% in the coming years.
[Brokerage Focus] Guosheng Securities initiates coverage on China Res Beer (00291) with a "buy" rating, indicating that the company will be the first to benefit from the sector's recovery.
Jingu Finance News | Guosheng Securities' research report pointed out that China Res Beer (00291) officially partnered with Heineken in 2020 to create a "4+4" high-end brand matrix of "Chinese brand + international brand", accurately positioning different consumer groups. In 2023, they officially entered the baijiu industry, with baijiu and beer mutually empowering each other, and brand strength expected to further increase. On the product side, covering all price ranges, four major international brands assist four major local brands, dedicated to high-end refinement. Under the single-product strategy, the classic single product Snow Brew is paired with the youthful single product Heineken, the adventurous superX, and other continuous efforts. On the channel side,
China Res Beer (00291.HK): The strong get stronger, the final battle for the high-end.
China Resources Beer: industry leader, rising in the high-end market. China Resources Beer was established in 1993, as a rising star in the beer industry, but has shown rapid development momentum. In 2023, beer sales reached 11.151 million kiloliters, now becoming the country's largest by sales volume.
China Alcoholic Drinks Association: It is expected that the annual profit of the beer industry will increase by 7% this year to reach 27 billion RMB.
According to the internal media reports, Song Shuyu, Chairman of the China Wine Industry Association, recently stated that according to the 2023 national beer industry statistics, on the basis of stable production volume, the beer industry continues to show a trend of increasing efficiency, achieving a good development situation of "rising in both quantity and price" and performing outstandingly among alcoholic beverages. It is expected that by 2024, large-scale beer enterprises will achieve sales revenue of approximately 190 billion yuan, with an annual growth rate of 3%, realizing a total profit of 27 billion yuan, with an annual growth rate of 7%.
China Resources Beverage officially listed on the Hong Kong Stock Exchange: The first-day increase reached 15.03%. "Innovative momentum" adds to long-term growth.
In fact, CR Beverage, holding the "Yibao" brand and achieving an annual revenue of over one hundred billion, is not satisfied with the super large single product purified water, but is expanding its layout in the beverage field, and has extended to promising tracks such as tea, fruit juice, functional beverages, etc. The beverage business is expected to become a new engine for the company's performance growth in the future.
Heineken NV Sponsored ADR quarterly net profit increased by 3.3% year-on-year, with overall sales volume up less than 1%.
Heineken, the world's second largest beer company, announced third-quarter sales data, with quarterly net income growth exceeding market expectations at 3.3%, higher than the expected 3.2%. During the quarter, Heineken brand global sales increased by 8.7% year-on-year, with sales in Africa, the Middle East, and the Asia-Pacific region increasing by 18.5% and 20.6% respectively. Sales of non-alcoholic beer and cider also increased by 11% year-on-year. However, overall sales only increased by 0.7%, with sales in the Americas and the Asia-Pacific region declining by over 1% year-on-year. In the China market, Heineken's quarterly sales increased by more than 20% year-on-year, significantly outperforming the market. The company maintains its full-year organic operating profit growth forecast at 4% to 8%.
China Resources Group's total profit for the first three quarters increased by 1.3% year-on-year to 63.1 billion RMB.
China Resources Group held the 2024 third quarter work conference today (22nd), summarizing the operation performance in the first three quarters of the year and deploying the work for the fourth quarter. Data shows that in the first three quarters of this year, China Resources Group achieved a revenue of 609 billion yuan, a year-on-year increase of 1.9%, with a total profit of 63.1 billion yuan, a year-on-year increase of 1.3%. The group's chairman, Wang Xiangming, delivered a speech titled 'Resolutely Implement Central Decision-Making Deployments, Firmly Complete the Annual Target Tasks,' emphasizing the focus on fully implementing central decision-making deployments, actively addressing internal and external challenges, and resolutely completing the annual target tasks with full effort to win at the year-end 'final battle.'
Express News | China Resources New Energy: Intends to acquire the wind power and photovoltaic assets of Harbin Jiuzhou Group and procure related services for due diligence and audit.
Express News | China resources and environment: The company's controlling shareholder has no subordinate relationship with entities such as the State-owned Assets Supervision and Administration Commission of the State Council and no investment relationship.
Express News | Jiangzhong Pharmaceutical: The controlling shareholder plans to increase shareholding by 0.06 billion yuan to -0.12 billion yuan.
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