China Resources Beer (Holdings) Co (0291) AI Stock Analysis

• Market Cap: HK$84.35B
• Dividend Yield: 3.58%
• Average Volume (3M): 10.99M
• Price to Earnings (P/E): 13.5
• Beta (1Y): 1.22
• Revenue Growth: -0.31%
• EPS Growth: 10.85%
• Country: HK
• Employees: 26,059
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): 1.95
• Shares Outstanding: 3,244,177,000
• 10 Day Avg. Volume: 11,409,944
• 30 Day Avg. Volume: 10,993,231
• PEG Ratio: -1.99
• Price to Book (P/B): 2.43
• Price to Sales (P/S): 1.99
• P/FCF Ratio: 18.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$40.62
• Price Target Upside: 56.24% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 67 Neutral
• Price Target: HK$29.00 ▲(11.54% Upside)

China Resources Beer (Holdings) Co's overall stock score is driven by its solid financial performance and reasonable valuation. The company's strong profitability and robust balance sheet are significant strengths. However, technical indicators suggest weak momentum, which slightly offsets the positive financial and valuation aspects.

Positive Factors

Strong Market Position

China Resources Beer's flagship brand, Snow Beer, has a strong market position in China, providing a competitive advantage and stable revenue base.

Robust Balance Sheet

A low debt-to-equity ratio indicates financial stability and low leverage, allowing for greater flexibility in strategic investments and operations.

Effective Cash Flow Management

Strong cash flow from operations supports capital expenditures and strategic initiatives, enhancing long-term growth potential and financial health.

Negative Factors

Inconsistent Revenue Growth

Inconsistent revenue growth can hinder long-term strategic planning and investment, potentially impacting the company's ability to capitalize on market opportunities.

Declining Cash Position

A declining cash position can limit the company's ability to respond to unexpected expenses or investment opportunities, affecting operational flexibility.

Volatile Free Cash Flow Growth

Volatility in free cash flow growth can create uncertainty in financial planning and limit the company's ability to consistently fund growth initiatives.

China Resources Beer (Holdings) Co Business Overview & Revenue Model

Company Description

China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells beer products. The company offers its products under the Heineken, Li, Löwen Fruit Beer, Snow Xiao Pi Qi, Amstel, and Edelweiss brand names. As of March 24, 2022, it operated 65 breweries in 24 provinces, municipalities, and autonomous regions in Mainland China. The company also engages in the manufacture and distribution of Baijiu products; and development and management of real estate. The company was formerly known as China Resources Enterprise, Limited and changed its name to China Resources Beer (Holdings) Company Limited in October 2015. The company is based in Wan Chai, Hong Kong. China Resources Beer (Holdings) Company Limited is a subsidiary of China Resources (Holdings) Company Limited.

How the Company Makes Money

China Resources Beer generates revenue primarily through the production and sale of its beer products. The company's key revenue streams include domestic sales of its various beer brands, with Snow Beer being the most significant contributor due to its popularity and market share in China. The company also benefits from strategic partnerships and joint ventures, such as its collaboration with global brewing giant Heineken, which helps expand its product offerings and market reach. Additionally, China Resources Beer's extensive distribution network and marketing strategies play a crucial role in driving sales and enhancing its market presence.

China Resources Beer (Holdings) Co Financial Statement Overview

Summary

China Resources Beer (Holdings) Co demonstrates solid financial health with strong profitability and a robust balance sheet. The company exhibits effective cash flow management, although recent revenue growth has been inconsistent. Overall, the company is well-positioned within the alcoholic beverages industry, but should monitor liquidity and strive for consistent revenue expansion.

Income Statement

The company shows solid profitability, with a stable gross profit margin around 42-44% over recent years. Net profit margin has improved, reaching 12.3% in 2024. Revenue growth has been inconsistent, with a slight decline in 2023. However, EBIT and EBITDA margins have strengthened, indicating improved operational efficiency.

Balance Sheet

The balance sheet is robust, with a low debt-to-equity ratio of 0.07 in 2024, reflecting low financial leverage. The equity ratio is healthy at 45.7%, indicating a strong capital base. Return on Equity (ROE) is solid at 14.9%, showcasing effective utilization of equity. However, a declining cash position may pose liquidity risks.

Cash Flow

Cash flow from operations is strong, covering capital expenditures with a free cash flow of approximately 4.1 billion HKD in 2024. The operating cash flow to net income ratio is robust, indicating good cash generation relative to profits. Free cash flow growth has been volatile, with significant improvement in recent years.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	29.61B	38.63B	38.93B	35.26B	33.39B	31.45B
Gross Profit	12.32B	16.48B	16.10B	13.56B	13.07B	12.07B
EBITDA	4.58B	9.08B	9.54B	8.38B	9.53B	5.41B
Net Income	3.21B	4.74B	5.15B	4.34B	4.59B	2.09B
Balance Sheet
Total Assets	71.19B	69.31B	71.52B	57.31B	51.05B	43.77B
Cash, Cash Equivalents and Short-Term Investments	10.29B	3.82B	5.52B	11.80B	7.09B	5.39B
Total Debt	1.17B	2.30B	5.29B	1.21B	131.00M	200.00M
Total Liabilities	31.12B	33.72B	37.35B	31.55B	26.56B	24.02B
Stockholders Equity	36.20B	31.69B	30.30B	33.31B	32.95B	27.96B
Cash Flow
Free Cash Flow	2.75B	4.12B	1.63B	5.87B	4.32B	4.08B
Operating Cash Flow	3.98B	6.93B	4.15B	7.75B	6.13B	5.32B
Investing Cash Flow	-2.33B	-2.13B	-9.69B	-1.06B	-2.75B	-1.07B
Financing Cash Flow	-3.56B	-6.49B	927.00M	-811.00M	-1.37B	-1.20B

China Resources Beer (Holdings) Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 26.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0291, the sentiment is Negative. The current price of 26 is below the 20-day moving average (MA) of 26.91, below the 50-day MA of 27.17, and above the 200-day MA of 25.66, indicating a neutral trend. The MACD of -0.24 indicates Positive momentum. The RSI at 40.16 is Neutral, neither overbought nor oversold. The STOCH value of 18.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0291.

China Resources Beer (Holdings) Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0168	80 Outperform	$86.24B	14.79	15.74%	4.42%	2.25%	2.05%
1876	68 Neutral	HK$107.05B	23.17	5.74%	5.41%	-9.54%	-27.75%
0291	67 Neutral	HK$84.35B	13.48	16.77%	3.58%	-0.31%	10.85%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
0236	56 Neutral	HK$466.96M	4.08	-1.15%	4.00%	2.77%	-110.76%

China Resources Beer (Holdings) Co Corporate Events

China Resources Beer Schedules Board Meeting for Interim Results and Dividend Decision

China Resources Beer (Holdings) Co has announced a board meeting scheduled for August 19, 2025, to review and approve the interim results for the first half of the year ending June 30, 2025. The meeting will also consider the declaration of an interim dividend, which could impact the company’s financial strategy and shareholder returns.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Enhances Governance with New Nomination Committee

China Resources Beer (Holdings) Co has established a Nomination Committee to enhance its corporate governance practices. The Committee is tasked with reviewing the Board’s composition, developing nomination policies, and ensuring diversity and transparency in the selection process of Board members. This move is aimed at aligning the Board’s structure with the company’s corporate strategy and improving its governance framework.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

Leadership Transition at China Resources Beer

China Resources Beer (Holdings) Company Limited announced the resignation of Mr. Hou Xiaohai as Executive Director and Chairman of the Board, effective June 27, 2025, to focus on personal engagements. The company has temporarily assigned Mr. Zhao Chunwu to assume the Chairman’s responsibilities while searching for a permanent successor. The board assures stakeholders that the company’s operations remain stable and unaffected by this transition.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Announces Board Composition and Roles

China Resources Beer (Holdings) Co has announced the composition of its board of directors and their roles. The board includes executive, non-executive, and independent non-executive directors, with specific members serving on various board committees such as the Audit, Compensation, Executive, Finance, and Nomination Committees. This announcement provides clarity on the governance structure of the company, potentially impacting its strategic decision-making and stakeholder confidence.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Approves Key Resolutions at AGM

China Resources Beer (Holdings) Co announced that all proposed resolutions at its Annual General Meeting on May 20, 2025, were approved by shareholders. Key resolutions included the approval of the financial statements for the year ending December 31, 2024, the declaration of a final dividend, re-election of directors, and the reappointment of Deloitte Touche Tohmatsu as auditors. These approvals reflect strong shareholder support and are expected to positively impact the company’s governance and financial strategies.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Announces Final Dividend for 2024

China Resources Beer (Holdings) Company Limited announced a final dividend for the year ended December 31, 2024, with a dividend of RMB 0.387 per share. The dividend will be paid in HKD at a rate of HKD 0.42 per share, with the payment date set for July 4, 2025. This announcement reflects the company’s financial health and commitment to providing returns to its shareholders, potentially strengthening its position in the market.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Announces Board Changes Following Director’s Retirement

China Resources Beer (Holdings) Company Limited announced the retirement of Mr. Siu Kwing Chue, Gordon as an independent non-executive director, effective from the conclusion of the annual general meeting held on May 20, 2025. Mr. Siu’s departure also results in changes to the board committees, with Mr. Lai Hin Wing Henry Stephen taking over as the chairman of the compensation committee. The company expressed gratitude for Mr. Siu’s contributions, and he confirmed no disagreements with the board, ensuring a smooth transition.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.

China Resources Beer Announces Board Composition and Roles

China Resources Beer (Holdings) Co has announced the composition of its board of directors, highlighting the roles and functions of each member. This announcement provides clarity on the leadership structure, which is crucial for stakeholders to understand the company’s governance and strategic direction.

The most recent analyst rating on (HK:0291) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on China Resources Beer (Holdings) Co stock, see the HK:0291 Stock Forecast page.