Understanding the Market | Beer stocks warmed up today, Zhujiang Brewery's annual net profit increased by 30%, institutions are optimistic about the overall dividend rate of the industry continuing to rise
I'm LongbridgeAI, I can summarize articles.Beer stocks warmed up today, with CHINA RES BEER rising 3.89%, Tsingtao Brewery rising 3.21%, and BUD APAC rising 2.27%. ZHUJIANG BREWERY released its 2024 performance preliminary report, showing a year-on-year sales growth of 2.62%, operating revenue growth of 6.56%, and net profit growth of 30.32%. Guotai Junan Securities expects that the beer sector will confirm its demand bottom in 2025, with an overall increase in dividend rates. Tsingtao Brewery and CHINA RES BEER are expected to continue growing, enhancing overall shareholder returns
According to Zhitong Finance APP, beer stocks have rebounded today. As of the time of writing, China Resources Beer (00291) is up 3.89%, trading at HKD 25.4; Tsingtao Brewery (00168) is up 3.21%, trading at HKD 51.4; Bud APAC (01876) is up 2.27%, trading at HKD 8.11.
In terms of news, on February 22, Zhujiang Brewery released its 2024 performance preliminary report. The data shows that in 2024, the company achieved beer sales of 1.4396 million tons, a year-on-year increase of 2.62%. It achieved total operating revenue of approximately RMB 5.731 billion, a year-on-year increase of 6.56%; and a net profit attributable to shareholders of the listed company of approximately RMB 813 million, a year-on-year increase of 30.32%.
Guotai Junan pointed out that the beer sector is expected to confirm a bottom on the demand side in 2025, and there is still room for profit improvement. In addition, it is expected that the overall dividend payout ratio of the industry will increase year-on-year in 2025, with Tsingtao Brewery and China Resources Beer expected to continue to increase in 2025-26, while Carlsberg and Budweiser may maintain the 2024 dividend level in 2025, and Yanjing has room for an increase in the mid-term dividend payout ratio. The firm expects that capital expenditure items for various beer companies may show a downward trend in 2025-26, with overall shareholder returns continuously enhancing, and the sector's characteristics of high dividends and stable growth continuing to stand out