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San Miguel Brewery HK Ltd. (HK:0236)
:0236
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San Miguel Brewery HK Ltd. (0236) AI Stock Analysis

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HK:0236

San Miguel Brewery HK Ltd.

(0236)

Rating:64Neutral
Price Target:
HK$1.50
▲(17.19% Upside)
San Miguel Brewery HK Ltd.'s stock score is primarily driven by a strong technical analysis, indicating bullish momentum. Financial performance shows resilience in cash flow and a robust balance sheet, but declining revenue and profitability raise concerns. Valuation is pressured by negative earnings, although the dividend yield offers some support.

San Miguel Brewery HK Ltd. (0236) vs. iShares MSCI Hong Kong ETF (EWH)

San Miguel Brewery HK Ltd. Business Overview & Revenue Model

Company DescriptionSan Miguel Brewery HK Ltd. (0236) is a leading brewery company based in Hong Kong, engaged in the production and distribution of beer and other malt-based beverages. The company operates in the alcoholic beverage sector, offering a variety of beer products, including its flagship San Miguel Pale Pilsen, San Miguel Light, and other specialty and seasonal beers. With a strong presence in the Hong Kong and Macau markets, the company is a subsidiary of San Miguel Corporation, a major conglomerate in the beverage industry.
How the Company Makes MoneySan Miguel Brewery HK Ltd. generates revenue primarily through the sale of its beer products in the Hong Kong and Macau regions. The company's revenue model is centered around its core beer brands, including both flagship and premium offerings, which cater to a diverse consumer base. Key revenue streams include direct sales to retailers, bars, restaurants, and other establishments, as well as distribution partnerships that extend the reach of San Miguel's products. The company's earnings are influenced by factors such as brand strength, market demand, and the strategic management of its distribution network. Additionally, San Miguel Brewery HK Ltd. benefits from marketing and promotional activities that enhance brand visibility and consumer engagement, further supporting sales growth.

San Miguel Brewery HK Ltd. Financial Statement Overview

Summary
San Miguel Brewery HK Ltd. showed declining revenue and negative profitability in 2024, impacting the income statement negatively. Despite these challenges, the balance sheet is strong with low leverage, and cash flow remains positive, indicating resilience.
Income Statement
55
Neutral
San Miguel Brewery HK Ltd. exhibited a decline in revenue growth from 2023 to 2024, with a drop in total revenue from 741.6M to 711.2M HKD. The gross profit margin decreased slightly, and the company experienced a negative net profit margin of -2.83% in 2024, down from 11.58% in 2023. The EBIT and EBITDA margins also turned negative, reflecting operational challenges.
Balance Sheet
65
Positive
The company maintains a strong equity position, with a debt-to-equity ratio of 0.01, indicating low leverage and a high equity ratio of 86.6% in 2024. However, the return on equity dropped significantly due to negative net income, showing a need for profitability improvement.
Cash Flow
70
Positive
Operating cash flow remains positive at 67.7M HKD in 2024, and free cash flow is strong at 48.5M HKD, though it decreased year-over-year. The free cash flow to net income ratio is not meaningful due to negative net income, but operating cash flow to net income ratio indicates stronger cash flow generation relative to net profits.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue711.16M741.62M681.16M595.62M555.66M
Gross Profit266.13M285.44M247.08M243.04M243.39M
EBITDA3.21M91.03M54.16M41.94M22.24M
Net Income-20.10M85.90M32.30M19.36M17.23M
Balance Sheet
Total Assets759.21M807.56M719.34M721.08M743.74M
Cash, Cash Equivalents and Short-Term Investments216.52M179.98M114.01M132.39M156.11M
Total Debt6.07M6.49M6.92M46.01M92.94M
Total Liabilities124.41M135.08M129.63M149.98M200.73M
Stockholders Equity657.20M696.57M617.84M602.84M576.53M
Cash Flow
Free Cash Flow48.52M67.46M21.80M24.41M31.58M
Operating Cash Flow67.70M91.96M37.16M37.03M45.21M
Investing Cash Flow-21.17M-17.56M17.66M4.50M-30.96M
Financing Cash Flow-19.57M-4.33M-39.84M-53.66M-12.06M

San Miguel Brewery HK Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price1.28
Price Trends
50DMA
1.00
Positive
100DMA
0.86
Positive
200DMA
0.83
Positive
Market Momentum
MACD
0.09
Negative
RSI
74.74
Negative
STOCH
76.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0236, the sentiment is Positive. The current price of 1.28 is above the 20-day moving average (MA) of 1.12, above the 50-day MA of 1.00, and above the 200-day MA of 0.83, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 74.74 is Negative, neither overbought nor oversold. The STOCH value of 76.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0236.

San Miguel Brewery HK Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
$83.63B14.0014.90%4.74%-4.38%-1.21%
73
Outperform
HK$1.56B11.647.60%124.78%889.01%
72
Outperform
HK$107.32B23.225.74%5.25%-9.54%-27.75%
68
Neutral
$81.95B15.9515.25%3.17%-3.20%-11.50%
64
Neutral
HK$493.11M4.08-1.15%3.97%2.77%-110.76%
63
Neutral
HK$429.56M12.8711.24%1.17%3.26%46.30%
62
Neutral
HK$21.19B10.454.01%5.10%0.07%-36.61%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:0236
San Miguel Brewery HK Ltd.
1.28
0.39
43.82%
HK:0828
Dynasty Fine Wines Group Limited
0.30
-0.03
-9.09%
HK:1876
Budweiser Brewing Co. APAC Ltd.
8.37
-0.72
-7.92%
HK:0291
China Resources Beer (Holdings) Co
26.06
2.90
12.52%
HK:0168
Tsingtao Brewery Co
50.25
1.80
3.72%
HK:3839
Chia Tai Enterprises International
6.39
5.63
740.79%

San Miguel Brewery HK Ltd. Corporate Events

San Miguel Brewery HK Ltd. Appoints New Independent Director
Jul 30, 2025

San Miguel Brewery Hong Kong Ltd. has announced the appointment of Ms. Maria Aileen A. Sazon as an independent non-executive director and a member of the nomination committee, effective from July 28, 2025. This appointment underscores the company’s commitment to maintaining a diverse and independent board, which is crucial for its governance and strategic decision-making processes.

San Miguel Brewery HK Reports Strong Interim Results for 2025
Jul 28, 2025

San Miguel Brewery Hong Kong Limited reported its unaudited interim results for the first half of 2025, showing a significant increase in profit. The company’s revenue rose to HKD 390.3 million, with a gross profit of HKD 155.7 million, reflecting improved operational efficiency and cost management. The profit attributable to equity shareholders increased to HKD 49.6 million, up from HKD 37.6 million in the previous year. This growth in profitability underscores the company’s strong market positioning and effective business strategies.

San Miguel Brewery HK Updates Nomination Committee Terms
Jul 28, 2025

San Miguel Brewery Hong Kong Limited has updated the terms of reference for its Nomination Committee, which plays a crucial role in advising the board on governance matters. The committee is tasked with assessing the skills required on the board, reviewing the performance of directors, and identifying suitable candidates for board appointments. The committee is composed of at least three members, primarily independent non-executive directors, and is supported by the company with necessary resources and access to professional advice.

San Miguel Brewery HK Announces Board Reshuffle
Jul 28, 2025

San Miguel Brewery Hong Kong Limited has announced significant changes in its board and committee memberships. Mr. Alonzo Q. Ancheta and Mr. Yoshinori Inazumi have resigned from their respective positions due to personal commitments and new assignments, while Ms. Maria Aileen A. Sazon and Mr. Tatsuya Nagafuji have been appointed to new roles. These changes reflect a strategic realignment within the company, potentially impacting its governance and operational focus.

San Miguel Brewery HK Ltd. Announces Board Composition
Jul 28, 2025

San Miguel Brewery Hong Kong Limited has announced the composition of its board of directors, detailing the roles and functions of both executive and non-executive members. This announcement is crucial as it outlines the leadership structure, which can influence the company’s strategic direction and operational decisions, potentially impacting stakeholders and market positioning.

San Miguel Brewery HK Ltd. Schedules Board Meeting for Interim Results
Jul 4, 2025

San Miguel Brewery Hong Kong Limited has announced a Board meeting scheduled for July 28, 2025, to approve the interim results for the first half of the year and consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder interests.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 30, 2025