China Resources Beer (Holdings) Co (HK:0291) has released an update.
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China Resources Beer (Holdings) Co. reported a profitable first half in 2024 with revenue reaching RMB 23.74 billion and a profit increase of 1.2% year-on-year, attributed to its successful premiumization strategy and robust e-commerce growth. The company’s beer business outperformed major competitors despite a slight decline in overall beer sales volume, achieving a record high EBIT margin of 28.3%. Additionally, their baijiu business saw a significant sales increase of over 50% for its premium product ‘Zhaiyao’, contributing to a gross profit margin growth to 67.6%.
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