Major bank rating丨Zhuhai International: Next year, emotional value-based consumption will continue to lead the market. Maintain a "Buy" rating on China Resources Beer.

On December 12, Gelonghui reported that Zhongyin International released a report indicating that the consumption trends this year have further emerged under the new cycle. Retail formats are undergoing multiple challenges such as a slowdown in the premium pyramid structure, deep internal adjustments within enterprises, and reduced operational leverage. The report stated that next year, emotional value consumption will continue to lead the market. In the food and beverage Industry, high-quality, well-regarded health products are expected to maintain leadership. As the pace of product upgrades slows down, the Industry will refocus on actual Consumer needs. Regarding beer, companies plan to expand mid-range price products to meet broader popular demand. Lower-priced CHINA RES BEER is leveraging Heineken NV Sponsored ADR for distribution.

Gelonghui Finance09:56 · Ratings

"The Great Actions" China Merchants Bank International: Next year, Consumer sentiment will dominate the recovery of domestic demand and high-quality growth. Maintains Buy rating on Budweiser (00291.HK).

Zhongyin International released a report indicating that this year's various Consumer trends are further emerging in the new cycle. The Retail Trade format is experiencing multiple challenges, including the slowdown in the high-end pyramid structure, deep adjustments within companies, and a reduction in operational leverage. However, the intense competition on the manufacturer side has instead accelerated the emergence of new Consumer trends, driving rapid adjustments in the market landscape, speeding up the survival of the fittest process, and helping the Industry to more accurately capture consumers' actual demands and emerge from the trough. Many companies are firmly pushing forward reforms within the year to better adapt to the new high-quality development phase. It is indicated that next year, emotional value-related consumption will continue to lead the market. In the CSI SWS Food & Beverage index, high quality and good taste...

AASTOCKS09:24

GTJA expects that next year the Hong Kong stock market will present an N-shaped oscillation pattern trending upwards, discovering investment opportunities from improved domestic demand.

GTJA's Chief Analyst Chen Ximiao stated that looking ahead to 2025, the Hong Kong stock market will continue to experience external disturbances, focusing on the Fed's interest rate cut pace under overseas inflation, strong U.S. dollar, policy constraints from tariffs, and great power rivalry. However, the domestic policy direction is clear, relying on fiscal support to stabilize economic expectations, with improving corporate profits on the supply side and enhanced Industry Chain resilience.

AASTOCKSDec 11 10:01

Hong Kong stocks fell in the afternoon after rising 655 points in the morning session, with trading volume exceeding 200 billion. The WuXi AppTec sector, mainland real estate, and the three oil giants showed weakness.

The Central Political Bureau meeting mentioned that next year, a more proactive fiscal policy and moderately relaxed mmf policy will be implemented, strengthening extraordinary counter-cyclical adjustments. Following the announcement on the 9th that China's mainland reported a year-on-year CPI increase of 0.2% in November, today (10th), the mainland announced that last month's exports in US dollars increased by 6.7% year-on-year, while imports fell by 4.7% year-on-year, both missing market expectations. Stimulated by national policy news, Hong Kong stocks rose sharply by 548 points or 2.8% the previous day, and this morning opened above the 21,000 mark, opening 655 points higher, reaching an intraday high of 21,070, which is the highest in about a month, but subsequently the gains gradually narrowed and there was a slight decline in the afternoon.

AASTOCKSDec 10 14:47

Nongfu Spring (9633.HK): Originating from nature, leading in category.

Introduction to this report: Packaged water and sugar-free tea are both leading tracks, with market share recovery combined with sustained high boom in tea beverages; multiple barriers of channels + brands + water sources + innovation; while maintaining a relatively high profit level. Currently, the stock price corresponds to a PE of 26X for 2025.

gtjaDec 9 19:57

According to reports, Dongpeng Beverage (605499.SH) is considering listing in Hong Kong next year, expecting to raise up to 1 billion USD.

Bloomberg cited sources as saying that mainland energy drink manufacturer Dongpeng Beverage (605499.SH) is considering going public in Hong Kong and is seeking to hire banks for preparation, with the earliest expected listing next year, raising up to $1 billion in funds. Sources also revealed that the related Hong Kong listing plan is still under review, and details including the scale may still be subject to change. Dongpeng Beverage, headquartered in Shenzhen, saw its A-shares rise by about 57% this year, with a market cap of $15.8 billion. Established in 1994, it mainly sells energy drinks, electrolyte drinks, Chinese sugar-free tea, coffee, etc. Additionally, Dongpeng Beverage had a planned listing about two years ago.

AASTOCKSDec 5 15:48