China Resources Beer Lifts Dividend as Premium Brews Offset Baijiu Impairment

China Resources Beer (Holdings) Co ( (HK:0291) ) has shared an announcement.

China Resources Beer, a major player in China’s beer and baijiu market, reported 2025 group turnover of RMB37.99 billion, broadly flat year on year but up RMB6.54 billion over the current five‑year plan period. Excluding special items, EBITDA and profit attributable to shareholders rose 9.9% and 19.6% respectively, and the board proposed lifting the full‑year dividend by 34.3% to RMB1.021 per share, the highest in five years.

The beer business remained the main profit engine, with sales volume up 1.4% to 11.03 million kilolitres and premium and affordable premium segments delivering mid‑to‑high single‑digit growth and supporting a 1.4‑point gross margin improvement to 42.5%. By contrast, the baijiu unit faced industry headwinds and weaker demand, prompting a RMB2.88 billion goodwill impairment, though it still generated positive EBITDA, highlighting both the strength of the core beer franchise and the near‑term challenges in liquor diversification.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$38.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

More about China Resources Beer (Holdings) Co

China Resources Beer (Holdings) Company Limited is a Hong Kong‑incorporated brewer focused primarily on the Chinese market, with beer as its core business and a growing but smaller baijiu segment. The group targets continued premiumisation of its beer portfolio, with sub‑premium and above products now accounting for roughly a quarter of total sales volume.

YTD Price Performance: -4.81%

Average Trading Volume: 12,233,831

Technical Sentiment Signal: Sell

Current Market Cap: HK$80.97B

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