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Changes in Hong Kong stocks | China Resources Brewery (00291) rose more than 5%, leading the rise in beer stocks and restaurants driving demand growth for beer and other products, and there is a clear trend of improvement in the industry
Beer stocks picked up in early trading. As of press release, China Resources Brewery (00291) rose 5.03% to HK$38.65; Budweiser Asia Pacific (01876) rose 3.45% to HK$11.38; and Tsingtao Brewery shares (00168) rose 3.02% to HK$61.4.
Hong Kong Stock Concept Tracking | May Day “Tastebuds Tour” became a new consumer trend, and the beer sector received attention (with concept stocks)
The May Day dining scene has led to an increase in demand for products such as beer, condiments, and prepared dishes.
Dongwu Securities: There is a clear trend of monthly improvement in the beer sector with a low and high operating pace in '24
According to a research report released by Dongwu Securities, the 2024Q1 beer sector's performance exceeding expectations is a positive sign. Judging from the pace of business, the beer sales base was high and low in 2023, corresponding to the low and high levels of the 2024 business pace. The trend of improvement is clear month by month.
Citibank: Maintaining Tsingtao Brewery's (00168) “Buy” Rating and Lowering the Target Price to HK$84.5
The Zhitong Finance App learned that Citi released a research report stating that it maintains the “buy” rating of Tsingtao Brewery Co., Ltd. (00168). In the Chinese beer industry, the bank continues to prefer China Resources Beer (00291), which is the industry's first choice. The target price was lowered from HK$89.9 to HK$84.5. According to the report, the company's first-quarter results fell short of expectations and revenue performance was weak, so it lowered its net profit forecast of 2% and 1% for this year and next two years, and sales growth assumptions of 5% and 4%. It is expected that its advertising and promotion expenses may be lower than expected, which will help short-term profits, but it will have a negative impact on its long-term brand value.
年報2023
Hong Kong Stock Concept Tracking | Valuation has reached the bottom of history, and institutions are optimistic about the beer industry improving (with concept stocks)
Benefiting from post-pandemic demand recovery, China's beer industry produced 35.555 million kiloliters (yoy +0.3%) in 2023, but there is still a gap compared to 2019. Judging from the price point of view, the upgrading trend in China's beer industry is slowing down or not downgrading, and the gross sales gap of enterprises continues to rise. In 2023, the number of domestic catering companies cancelled nearly 1.3 million, more than double that of 2022. The ready-to-drink scene is recovering slowly as the main position for upgrading the beer structure, compounding the pressure on overall consumption power. The high-end trend has slowed down, but the mid-tier products of wine companies have maintained good growth. The tonnage prices of major domestic wine companies all achieved low to medium single-digit growth in 2023
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