Movement Alert|CHINA RES BEER Intraday Rise 3.02% in Regular Trading, Bank of America Kept Buy Despite Cutting Target Price

Market Focus
昨天

On October 23, CHINA RES BEER rose 3.02% in Regular Trading, trading at HK$19.43, with turnover of HK$85.168 million.

The clearest catalyst in public information is a fresh broker update released one day earlier: Bank of America cut its target price to HK$26.6 from HK$29.1, while reiterating a Buy rating.

In that update, the broker also lowered earnings per share forecasts for the current and next year by 15% and 14%, citing expected soft third-quarter performance, China macro uncertainty and persistent cost pressure. It projected core net profit to decline by a double-digit rate to about RMB4.7 billion, with beer revenue down by a low-single-digit percentage, baijiu revenue down more than 20%, and gross margin eroded by more than 1 percentage point due mainly to higher aluminum costs and weaker capacity utilization. Even with these cuts, the maintained positive rating appears to have supported sentiment after prior estimate resets across the sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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