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CLSA Adds CHINA RES BEER (00291.HK) TP to $34.6 as ASP Returns to Growth in Early-2026
2026-03-24 10:33:27
CHINA RES BEER (00291.HK)'s 2H25 average selling price of beer fell 4.6% YoY, missing expectation, CLSA published a research report saying.

The Company attributed this to increased consumer-targeted promotional activities during the period and expected its 2026 performance to recover to normal.

CHINA RES BEER's management held a positive view on its average selling price growth in 2026, with both average selling price/ sales volume recording YoY growth in 2M26.

The broker believed that the sustainability of the recovery in the catering channel is a potential driver for this year, and lowered its 2026/ 2027 revenue and profit forecasts by 1-5%. Therefore, CLSA kept rating at Outperform, and added its target price from $33.2 to $34.6.
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