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Daiwa: Downgraded tsingtao brew's rating to "hold", target price lowered to 52.6 Hong Kong dollars
Daiwa released a research report stating that the rating of Tsingtao Brewery (00168) has been downgraded from 'buy' to 'hold', with the H share target price lowered by 24% from 69 Hong Kong dollars to 52.6 Hong Kong dollars. Due to weak consumer willingness in China and increasingly fierce competition in the mid-to-high-end beer market, although Tsingtao Brewery has invested in sales and marketing, Daiwa believes that Tsingtao Brewery's high-end process in 2025 will slow down, leading to sluggish expansion of operating profit margins. Daiwa stated that due to Tsingtao Brewery's strong brand performance, it is predicted that sales volume and average selling price will increase by 1% year-on-year in 2025. Daiwa also forecasts the group's 202...
Express News | China Resources Group signed a total contract amount of 1.515 billion US dollars at the import expo.
Guolian Securities: The fundamentals of the liquor sector in Q3 2024 are bottoming out, and the report is slowing down.
The overall revenue growth rate of key companies in the baijiu industry in Q3 2024 calculated by the overall method is 2.41%, with the revenue growth rates of high-end liquor / second-tier liquor / regional liquor at +9.59% / -0.38% / -15.64% respectively, with sequential decreases of 4.65 / 8.87 / 23.32 percentage points.
Stock market updates: Hong Kong's dining and alcoholic beverages sector are strong, with Helen's up 16% and zjld up 8%. The Ministry of Commerce will introduce new policies in the consumer sector.
The Hong Kong dining sector showed strong performance in the morning session, with Helen's up by 16.38%, Jiumaojiu up by 14.36%, and Xiabuxiabu up by 9%. The alcoholic beverages sector also strengthened, with ZJLD up by 8%, China Res Beer up by 6%, and Tsingtao Brew up by 4%.
Express News | Alcoholic beverage stocks in the Hong Kong stock market collectively strengthened, with zjld up nearly 7%, china res beer up over 5%, tsingtao brew, and bud apac up more than 3%.
Express News | Peking sold 3 plots of land, attracting over 12.7 billion in gold.
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