Budweiser Asia Pacific (1876.HK): High sales base may put pressure on 1H24 in the short term, but the outlook for the whole year remains unchanged

1Q23 The high sales base in the Chinese and Korean markets may drag down Budweiser Asia Pacific's 1H24 sales performance. Management anticipates that a high single-digit increase in the average sales price in 1Q24 will drive further expansion of gross margin and maintain normalized profit before interest and tax

華興證券Apr 12 19:21

Tsingtao Brewer-H (0168.HK): 4Q23 is affected by one-time expenses, gross margin is expected to increase at an accelerated pace in 2024

4Q23 The profit side was dragged down by the increase in one-time marketing expenses. The trend of product upgrades is unaffected, and the adjusted net profit margin is expected to increase at an accelerated pace in 2024. Reiterating the “Buy” rating, the target price was slightly lowered to HK$101.00 (1

華興證券Apr 12 19:21

China Resources Beer (0291.HK): Pack lightly and move forward fast

Declining costs and a continuous product upgrade strategy are expected to drive both the profit margin and net profit of the beer business. Liquor revenue is expected to resume healthy growth, which in turn will drive improvements in operating leverage. The “Buy” rating was reaffirmed, and the target price was lowered to HK$39.50 (

華興證券Apr 12 18:31

Changes in Hong Kong stocks | Budweiser Asia Pacific (01876.HK) fell more than 4% to hit a new low. Major banks all expect the company's sales volume in the Chinese and Korean markets to decline in the first quarter

Budweiser Asia Pacific (01876.HK) 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.

Zhitong FinanceApr 12 15:54

Fangzheng Securities: There is still plenty of room for high-end beer to welcome value layout opportunities under undervaluation

Fangzheng Securities released a research report saying that there is still plenty of high-end space and strong certainty. The current valuation is at a historically low level, which has ushered in value layout opportunities. The bank believes that the current leading valuation has fallen back to a low level of nearly five years, and there are value layout opportunities. It is recommended to focus on China Resources Beer (00291.HK), which has “an alpha single product Heinekinek+strong channel control”; Tsingtao Brewery (600600.SH), which “has strong control over the base market and obvious acceleration of the non-base market”; “the reform process is accelerated and profits continue to be realized” Yanjing Beer (000729.SZ); the emphasis on “continuous channel reform, outstanding brand matrix characteristics”

Zhitong FinanceApr 12 14:21

Fangzheng Securities: There is still plenty of high-end space, and the beer sector ushered in value layout opportunities

According to Fangzheng Securities, there is still plenty of room for high-end beer and strong certainty. Currently, the beer industry's valuation is at a historically low level, ushering in value layout opportunities.

Zhitong FinanceApr 12 07:13