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CHINA RES BEER Says Beer Premiumization Trend Still Strong, Actively Studying Feasibility of Shr Buyback
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CHINA RES BEER (00291.HK) reported a YoY drop of 0.5% in its 1H24 turnover, of which revenue from the beer business slid 1.4%. Although the beer sales volume decreased slightly in 1H24, the premium products in the industry still recorded growth in sales, reflecting the still-strong premiumization trend, and the premiumization of the beer business is expected to enter the second phase along a lighter, more environmentally friendly trend in the future, said Hou Xiaohai, chairman of the board of CHINA RES BEER. In 1H24, sales of mid-end and above products accounted for more than 50% of the total, while sales of premium and above products hiked more than 10%, with core brands Heineken, Lao Xue, and Amstel registering sales growth of over 20%. During the period, revenue from its baijiu business also saw a YoY surge of over 20%. When commenting on the setback in share price performance during the year, Zhao Wei, CFO of CHINA RES BEER, said that changes in market conditions had inflicted more pressure on the share price, and that the group was actively exploring various feasible ways to reward its shareholders, including increasing dividends and share buybacks. AAStocks Financial News |
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