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2026-01-23 10:28:46 According to JPMorgan's report, CHINA RES BEER (00291.HK) management disclosed several pieces of information at a forum held by the broker. The main points included that beer consumption demand this year may be similar to last year, with low single-digit volume growth and unchanged average selling prices, even though costs have been locked in, with aluminum and barley costs under control. The sales and loss situation for baijiu in 2H25, nonetheless, was worse than 1H25, leading to potential goodwill impairment in 4Q25, and the outlook for this year remains unclear. JPMorgan has cut its results forecasts for CHINA RES BEER, expecting its sales to decrease by 0.2% YoY last year and increase by 2.1% this year, with adjusted EBIT rising by 4.4% and 13.8% YoY, respectively. The broker has kept an Overweight rating on CHINA RES BEER but trimmed its TP from HKD40.5 to HKD38. ~ AAStocks Financial News Web Site: www.aastocks.com | |