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[Broker Focus] Orient Securities maintains China Resources Beer (00291)'s “buy” rating, indicating that the performance is basically in line with expectations
Jinwu Financial News | According to Orient Securities Research Report, China Resources Brewery (00291) announced its 2023 results, achieving annual revenue of 38.93 billion yuan (yoy +10.4%) and net profit of 5.15 billion yuan (yoy +18.6%); 23H2 achieved revenue of 15.06 billion yuan (yoy +5.7%) and net profit of 50 billion yuan (yoy -7.0%). The results were basically in line with expectations. According to the bank, in 2023, the liquor business achieved revenue of 2.07 billion yuan and EBIT of 130 million yuan. Excluding amortization of intangible assets resulting from the acquisition of Guizhou Sands, EBI
Citibank: Maintaining China Resources Brewery's (00291) “Buy” Rating Target Price Reduced to HK$50.15
Citi expects the Group's beer business to expand by 4% this year, including a 0.5% increase in sales and a 3.5% increase in average product prices.
Optimistic Investors Push China Resources Beer (Holdings) Company Limited (HKG:291) Shares Up 25% But Growth Is Lacking
China Resources Beer (Holdings) Company Limited (HKG:291) shares have had a really impressive month, gaining 25% after a shaky period beforehand. Unfortunately, the gains of the last month did litt
Haitong International: Maintaining China Resources Beer's “Better Than the Market” Rating and Lowering the Target Price to HK$56
Haitong International released a research report stating that it maintained China Resources Beer (00291)'s “superior to the market” rating and lowered the target price from HK$66 to HK$56. The company's revenue last year was RMB 38.93 billion (same below), up 10.4% year on year. Core EBIT reached 7.1 billion yuan, up 30% year on year, and net profit rose 18.6% to RMB 5.15 billion. Looking ahead to 2024, Haitong International expects the sales volume of China Resources Brewery to increase slightly. The tonnage price will increase by medium to low units. Heineken and Pure Life will reach 75 and 1 million kiloliters respectively, while maintaining double-digit growth above the sub-high-end. Currently, the company's barley price lock has decreased year-on-year
Haitong International: Maintaining China Resources Beer (00291)'s “Better Than Market” Rating Target Price Reduced to HK$56
Haitong International estimates that the earnings per share of China Resources Brewery (00291) from 2024 to 26 will be 1.87 yuan, 2.14 yuan, and 2.42 yuan, respectively.
Anxin International: Maintaining China Resources Beer's “Buy” Rating and Lowering the Target Price to HK$48
Anxin International released a research report stating that it maintained China Resources Beer (00291)'s “buy” rating and lowered the 24/25/26 net profit to 57.4/63.8/6.81 billion yuan due to conservative principles, corresponding to EPS of HK$1.91/2.23. Taking into account the current sentiment in the Hong Kong stock market, the target price was lowered to HK$48. The bank believes that the beer and liquor business is a high-quality track with long slopes and snow, and has the ability to raise prices in the long run. Under the leadership of excellent management, combined with the company's existing nationally renowned brand matrix, the bank continues to be optimistic about the development prospects of China Resources Beer for a long time. but
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