Budweiser Asia Pacific (01876) fell more than 4% in the intraday period, hitting a record low of HK$10.32. As of press release, it decreased by 3.72% to HK$10.36, with a turnover of HK$120 million.
The Zhitong Finance App learned that Budweiser Asia Pacific (01876) fell more than 4% in the intraday period, hitting a new low of HK$10.32. As of press release, it decreased by 3.72% to HK$10.36, with a turnover of HK$120 million.
Macquarie released a research report saying that Budweiser Asia Pacific's sales volume in China and Korea in the first quarter is expected to drop 7% and 4% year over year due to the high base effect, and indicates that the weak performance of the Chinese market in the fourth quarter of last year continued until the Lunar New Year. The cumulative demand release in March and April of last year caused a high base effect. Sales volume in the Korean beer industry also declined year on year. However, according to the bank, the company's high-end strategy in China continues to be good. Demand for Budweiser beer is performing well in lower-tier cities, but sales of core and value products have shrunk.
J.P. Morgan previously indicated that Budweiser Asia Pacific's sales volume in China and South Korea in the first quarter is predicted to decline due to tepid consumer sentiment. The main risk facing Budweiser China is the gradual weakening of the contribution brought about by changes in the channel mix; the Korean market is being affected by the resurgence of Japanese brands, which are competing for market share lost during the 2019 trade war.