Research Reports on Capitalizing｜Huaxing Securities: Downgrades BUD APAC Target Price to HKD 11.6, Reaffirms "Buy" Rating.

Huaxing Securities published a report indicating that BUD APAC's Business in China faces multiple challenges in the fourth quarter of 2024. Management stated that the company is de-stocking during this period to maintain a healthy channel inventory level, along with weak performance in the ready-to-drink channel, which negatively impacts the company's sales in China. Additionally, BUD APAC had a high base in its Business in China in the fourth quarter of 2023. Due to changes in channel structure, the trend of unit price growth in the Chinese market has worsened, which may lead to an annual decline in unit price for the Western Asia-Pacific region from 2.1% in the third quarter of 2024 to 3.3%. The report indicates that BUD APAC's sales are challenged by the macroeconomic environment.

Gelonghui FinanceJan 24 15:22 · Ratings

[Brokerage Focus] Jianyin International maintains a neutral rating on BUD APAC (01876). Performance is expected to be weak in the fourth quarter of the 2024 fiscal year.

Jinwu Financial News | Jianyin International's Research Reports indicate that BUD APAC (01876) is expected to perform poorly in the fourth quarter of the 2024 fiscal year. In the fourth quarter of the 2024 fiscal year, consumer spending in the nightlife and high-end Dining sectors remains sluggish. Furthermore, the ongoing weak market demand in major first and second-tier coastal cities has led to a negative impact on its sales growth, which is far greater than that of its peers. In the fourth quarter of the 2024 fiscal year, BUD APAC has increased inventory adjustments in China, further intensifying the pressure on sales growth. Consequently, the firm has downgraded the sales growth forecast for the Asia-Pacific West region for the fourth quarter of the 2024 fiscal year from a decline of 7% to a greater decline.

Jinwu Financial NewsJan 22 13:30 · Ratings

Guojun's outlook for the food and beverage Industry in 2025: The industry is expected to see steady volume and price increases, with declining costs and rising profit margins.

It is expected that the Beer Industry sales will have a neutral outlook in 2025, the industry structure upgrade will continue, costs will keep declining, expenses will be stable, and the mid-term dividend rate is expected to increase.

Zhitong FinanceJan 22 06:52

BUD APAC (1876.HK): Business in China continues to be affected by macroeconomic factors; the South Korean market has entered a high base cycle.

Sales and unit prices in the Western Asia-Pacific region still recorded negative growth, primarily affected by the weak consumer market in China. The growth momentum of unit prices in the South Korean market has also slowed due to a high base. Reaffirming the 'Buy' rating and lowering the Target Price to HKD 11.60 (

HuaXing SecuritiesJan 22 00:00

Major bank rating | CCB International: Downgraded BUD APAC's Target Price to HKD 7.5 and lowered earnings forecast for the fiscal years 2024 and 2025.

According to a Research Report published by CCB International on January 21, BUD APAC is increasing inventory adjustments in the China market in the fourth quarter of the 2024 fiscal year, further intensifying the pressure on sales growth. Therefore, the sales growth forecast for the company's western region in the Asia-Pacific is adjusted from a decrease of 7% to a decrease of 14%; the average selling price forecast is adjusted from an increase of 1% to a decrease of 3%; and the EBITDA profit margin forecast is revised down from 17.4% to 13.6%. As for the eastern region of the Asia-Pacific, the sales growth forecast is raised from 2% to 3%; the EBITDA profit margin is expected to expand by 4.7 percentage points to 33.5%; the sales growth assumption is adjusted from a decrease of 3%.

Gelonghui FinanceJan 21 15:46 · Ratings

Nomura Adjusts Budweiser Brewing Company APAC's Price Target to HK$10.60 From HK$13.10, Keeps at Buy

MT NewswiresJan 21 15:04 · Ratings