Movement Alert｜CHINA RES BEER Falls 3.09% in Regular Trading, Interim Earnings Outlook Pressured by Baijiu Business Drag

Market Focus08-06

On August 6, CHINA RES BEER fell 3.09% in regular trading, trading at 21.92 HKD/share, with turnover of HKD 143 million. The decline comes as the company approaches its interim results release amid downgraded earnings expectations.

On the news front, Goldman Sachs projected the company's H1 net profit to decline 9% year-on-year to RMB 5.29 billion, with the baijiu (Chinese spirits) business weighed down by weak consumer sentiment and ongoing industry destocking. The bank lowered its target price from HKD 36.45 to HKD 35.15 and cut earnings forecasts for the next three years by 3.2% to 4%, while maintaining a Buy rating. The company has announced a board meeting scheduled for August 19 to review interim results and a dividend proposal.

Within the Brewers sector, the overall tone was soft. Among individual stocks, TSINGTAO BREW down 0.85%, BUD APAC down 1.0%, CHINARES BEER-R down 2.73%, SAN MIGUEL HK flat at 0%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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