---
title: "CHINA RES BEER  1H26 Net Profit Down 10.7% YoY to RMB5.169B; Interim DPS Cuts 3.9% to RMB0.446"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296302803.md"
description: "China Res Beer reported a 10.7% YoY drop in H1 2026 net profit to RMB5.169B, despite a 1.2% revenue increase to RMB24.24B. Interim DPS was cut 3.9% to RMB0.446. Premium beer sales drove volume growth of over 10%, with Heineken and new products performing strongly. Baijiu segment contributed RMB570M in revenue."
datetime: "2026-08-19T04:46:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296302803.md)
  - [en](https://longbridge.com/en/news/296302803.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296302803.md)
generator: "portal-rs"
---

# CHINA RES BEER  1H26 Net Profit Down 10.7% YoY to RMB5.169B; Interim DPS Cuts 3.9% to RMB0.446

CHINA RES BEER (00291.HK) +0.120 (+0.542%) Short selling $13.78M; Ratio 35.971% announced its interim results for the six months ended June 2026. Revenue rose 1.2% YoY to RMB24.24 billion. Net profit fell 10.7% to RMB5.169 billion, with EPS at RMB1.59. The company declared an interim dividend of RMB0.446, with the payout ratio rising 2 ppts YoY to 28%, while the interim dividend declined 3.9% YoY from RMB0.464 in the same period last year. During the period, gross profit decreased 1.31% YoY to RMB11.551 billion.

For the beer business, the group's unaudited consolidated revenue from the beer segment amounted to RMB23.67 billion, up 2.2% YoY. Excluding gains of approximately RMB115 million recognized from an investment relocation agreement, unaudited EBIT increased 1.2% YoY to RMB7.119 billion.

During the period, beer sales volume increased approximately 1.7% YoY to about 6.6 billion liters. The group's premium beer products continued to gain momentum. In 1H26, sales volume of premium-and-above beer products increased by more than 10% YoY, while sales volume of mainstream premium-and-above beer products grew about 15% YoY. Among them, Heineken sales volume recorded growth of more than 20%, while sales volume of "Lao Xue" and "Red Baron" increased by more than 40% and 80%, respectively. Three new premium products, namely "Snow Gold Crown", "Snow German Wheat", and "Brave the World superDry Draft Beer", together contributed more than 7% of the incremental sales volume growth of premium-and-above products.

For the baijiu business, the group's unaudited revenue amounted to RMB570 million. Unaudited EBITDA was RMB84 million, with an EBITDA margin of 14.7%.

As of the end of June this year, the group operated 59 breweries in China with annual production capacity of approximately 19 billion liters. The number of breweries remained unchanged. (sl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-19 12:25.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**