China Resources Beverage Likely to Face Challenging 2026 -- Market Talk

Dow Jones

03/31

0748 GMT - China Resources Beverage is likely to face a challenging 2026, says Morningstar's Jacky Tsang in a note. The Chinese bottled-water producer could see further margin pressure from higher input costs this year. Higher sales and marketing expenses may persist as the company could step up its brand investment, the analyst adds. Peer Nongfu Spring is likely to remain aggressive in pursuing packaged-water sales, he adds. Tsang trims his 2026-2029 earnings projections on China Resources Beverage by 26% on average to reflect a lower 2025 revenue base and reduced margin estimates. Morningstar cuts its fair value estimate by 20% to HK$12.00. Shares fall 1.2% to HK$8.74. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 31, 2026 03:48 ET (07:48 GMT)

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The Chinese bottled-water producer could see further margin pressure from higher input costs this year. Higher sales and marketing expenses may persist as the company could step up its brand investment, the analyst adds. Peer <a href=\"https://laohu8.com/S/NNFSF\">Nongfu Spring</a> is likely to remain aggressive in pursuing packaged-water sales, he adds. Tsang trims his 2026-2029 earnings projections on China Resources Beverage by 26% on average to reflect a lower 2025 revenue base and reduced margin estimates. Morningstar cuts its fair value estimate by 20% to HK$12.00. Shares fall 1.2% to HK$8.74. 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The Chinese bottled-water producer could see further margin pressure from higher input costs this year. Higher sales and marketing expenses may persist as the company could step up its brand investment, the analyst adds. Peer <a href=\"https://laohu8.com/S/NNFSF\">Nongfu Spring</a> is likely to remain aggressive in pursuing packaged-water sales, he adds. Tsang trims his 2026-2029 earnings projections on China Resources Beverage by 26% on average to reflect a lower 2025 revenue base and reduced margin estimates. Morningstar cuts its fair value estimate by 20% to HK$12.00. Shares fall 1.2% to HK$8.74. 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The Chinese bottled-water producer could see further margin pressure from higher input costs this year. Higher sales and marketing expenses may persist as the company could step up its brand investment, the analyst adds. Peer Nongfu Spring is likely to remain aggressive in pursuing packaged-water sales, he adds. Tsang trims his 2026-2029 earnings projections on China Resources Beverage by 26% on average to reflect a lower 2025 revenue base and reduced margin estimates. Morningstar cuts its fair value estimate by 20% to HK$12.00. Shares fall 1.2% to HK$8.74. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02460":"华润饮料","BK1200":"软饮料"},"translate_title":"华润饮料可能面临充满挑战的2026年——市场谈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02460":0.9},"content_text":"0748 GMT - China Resources Beverage is likely to face a challenging 2026, says Morningstar's Jacky Tsang in a note. The Chinese bottled-water producer could see further margin pressure from higher input costs this year. Higher sales and marketing expenses may persist as the company could step up its brand investment, the analyst adds. Peer Nongfu Spring is likely to remain aggressive in pursuing packaged-water sales, he adds. Tsang trims his 2026-2029 earnings projections on China Resources Beverage by 26% on average to reflect a lower 2025 revenue base and reduced margin estimates. Morningstar cuts its fair value estimate by 20% to HK$12.00. Shares fall 1.2% to HK$8.74. 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