Hong Kong Stock Market Review: China Resources Beer hitting a new low
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China Resources Beer stock price hit a new low despite record high interim profits, with revenue slightly down to 23.7 billion and sales volume dropping by 3.4%. Sales of high-end products accounted for half of the sales for the first time, and management acknowledged consumer contraction, adjusting sales volume expectations to a single-digit decline, with future progress in high-end transformation slowing down. Management hopes that the liquor business will contribute to a 30% revenue growth. Despite a low valuation of 14 times PE and a dividend yield of approximately 3.5%, the attractiveness is insufficient
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