Beer stocks rebounded today, with China Resources Beer (Holdings) Company Limited (00291) up 4.64% at HK$19.83, Budweiser Brewing Company APAC Limited (01876) up 3.71% at HK$5.87, and Tsingtao Brewery Company Limited (00168) up 3.38% at HK$39.74.
On the news front, Tsingtao Brewery Company Limited announced that in the first three quarters of the year, the company achieved cumulative revenue of RMB 28.035 billion, down 4.53% year on year, and net profit attributable to shareholders of RMB 5.055 billion, down 4.16% year on year. Affected by factors such as weak consumption, in the first three quarters the company recorded cumulative product sales volume of 6.465 million kiloliters, while the Tsingtao Beer main brand achieved sales volume of 3.95 million kiloliters, of which mid-to-high-end and above products reached 2.994 million kiloliters, up 2% year on year.
Guosheng Securities previously issued a research report stating that beer is gradually entering the off-season, and they expect that in the fourth quarter of 2026, on a low base, beer consumption scenarios are expected to improve in line with the trend, reflecting the logic of a recovery in dining out transmitting through and high-quality leaders recovering first. The report recommended selecting Yanjing Brewery and Zhujiang Brewery, which have strong alpha contributions from major single products, while steadily allocating to leaders and high-dividend names such as Chongqing Brewery, China Resources Beer (Holdings) Company Limited, and Tsingtao Brewery Company Limited.
Comments