0349 GMT - China Resources Beer's 2026-2027 earnings outlook appears weak, UOB Kay Hian analysts say in a note. The brewer's 1H beer revenue rose 2% on year, driven by 2% sales-volume growth. However, beer sales volumes weakened in May and remained muted into July, the analysts note. They forecast beer sales volume to be roughly flat in 2026, with average selling prices rising only slightly, supported by a softer comparison base for 2H. UOB KH lowers its 2026 and 2027 revenue projections for the company by 2%. The brokerage also cuts its target price for the stock to 28.60 Hong Kong dollars from HK$30.30 while maintaining a buy rating. Shares fall 1.0% to HK$20.90.