San Miguel Brewery Hong Kong Limited (Stock Code: 236) reported a consolidated net profit of HK$78.36 million for the year ended 31 December 2025, reversing a HK$18.92 million net loss in 2024. Excluding the previous year’s one-time non-cash impairment, the latest net profit increased by approximately 39.00% versus 2024. Net profit attributable to equity shareholders reached HK$76.12 million, compared with a HK$20.10 million net loss in 2024.

Consolidated revenue rose to HK$737.32 million, an increase of 3.67% year-on-year. Gross profit improved by 11.06%, rising from HK$266.13 million in 2024 to HK$295.55 million in 2025. Cash and bank balances stood at HK$285.71 million as of 31 December 2025, while total net assets amounted to HK$696.56 million.

Hong Kong operations navigated ongoing market contractions but benefited from a double-digit increase in export volumes, improved product costs, and higher rental income. Mainland China operations under San Miguel (Guangdong) Brewery Co., Ltd. recorded a 4.00% rise in domestic volume and disciplined cost management, resulting in an operating profit of RMB27.50 million.

Looking ahead to 2026, the group remains cautiously optimistic, focusing on brand-building and targeted channel strategies in both Hong Kong and South China.

The board proposed a final dividend of HK$0.06 per share for 2025, subject to shareholder approval. The register of members will be closed from 28 April 2026 to 30 April 2026 for dividend qualification.