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Vacant for three years, Bud APAC China's president has finally been appointed. Can he reverse the declining trend in performance?
Fabio Sala will take over as the Bud China regional president after a three-year vacancy, reporting directly to Jan Craps, CEO of Bud APAC. At the same time, Luke, Chief Sales Officer of the China region, will be promoted to Bud Group as the Global Strategy Vice President; Jeff, President of the Bud China East Business Division, will take over Luke's position and report to the new president Fabio Sala.
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%.
HSBC Research lowered the target price of Bud APAC (01876.HK) to 9.1 yuan, maintaining a "buy" rating on Qingdao Brewery (00168.HK).
HSBC Research's report stated that the sales volume of the mainland beer industry in the third quarter did not recover as expected by the bank. Even with a low base, the average sales volume in the third quarter dropped by 6.2% year-on-year for the tracked companies. The bank believes that this is due to the reduction of consumer spending on outings, favoring drinking beer at home. The bank expects that most companies will focus on destocking in the fourth quarter, anticipating that losses in the fourth quarter will narrow year-on-year due to favorable costs and rigorous expense management. As for 2025, it is believed that most brewers will benefit from the alleviation of sales pressure, and the sales recovery in the second half of 2025 is expected to accelerate from a low base. The bank believes
Bud APAC (01876.HK): Performance below our expectations, China region under pressure.
The company announced its 3Q24 performance below our expectations: revenue/sales/ASP/EBITDA (all figures below are organic growth rates) decreased by -9.4/-11.4/+2.2/-16.6% year-on-year.
Hong Kong stocks are active | Beer stocks rose in the late trading, with the hope of improving demand supporting the volume and price of beer. The leading beer company continues its steady growth.
Beer stocks rose in the final hour, as of the deadline, bud apac (01876) rose by 5.24%, closing at 8.44 Hong Kong dollars; china res beer (00291) rose by 4.61%, closing at 30.65 Hong Kong dollars; and tsingtao brew (00168) rose by 2.14%, closing at 52.5 Hong Kong dollars.
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