Announcement • 22h
China Resources Beverage (Holdings) Company Limited, Annual General Meeting, Jun 01, 2026 China Resources Beverage (Holdings) Company Limited, Annual General Meeting, Jun 01, 2026, at 14:30 China Standard Time. Recent Insider Transactions • Apr 24
Non-Executive Director recently bought HK$308k worth of stock On the 20th of April, Te-kang Wang bought around 35k shares on-market at roughly HK$8.91 per share. This transaction increased Te-kang's direct individual holding by 1x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.1m. Insiders have collectively bought HK$2.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 07
CEO, President & Executive Director recently bought HK$438k worth of stock On the 30th of March, Shuqing LI bought around 50k shares on-market at roughly HK$8.75 per share. This transaction increased Shuqing's direct individual holding by 5x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.1m. Shuqing has been a buyer over the last 12 months, purchasing a net total of HK$527k worth in shares. Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.41 (down from CN¥0.79 in FY 2024). Revenue: CN¥11.0b (down 19% from FY 2024). Net income: CN¥985.3m (down 40% from FY 2024). Profit margin: 9.0% (down from 12% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 7.6%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Beverage industry in Hong Kong. Announcement • Mar 16
China Resources Beverage (Holdings) Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 China Resources Beverage (Holdings) Company Limited announced that they will report fiscal year 2025 results at 9:30 AM, China Standard Time on Mar 26, 2026 Announcement • Mar 14
China Resources Beverage (Holdings) Company Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2025 China Resources Beverage (Holdings) Company Limited provided consolidated earnings guidance for the year ended December 31, 2025. For the year, the company expects profit attributable to owners of the Company for the Year decreased by approximately 40% as compared with the same period in 2024 (2024: RMB 1,636.694 million). This is primarily attributable to the following reasons: based on the medium-to long-term development plan, the Company has continued to proactively increase its marketing investment, adjust its product mix and advance channel transformation in 2025, the packaged water business has remained under pressure, and the growth of the beverage business has fallen short of expectations, which has had a temporary impact on the profit performance for the Year. Announcement • Feb 13
China Resources Beverage (Holdings) Company Limited Announces Change of Chief Financial Officer, with Effect from February 13, 2026 The board of directors of China Resources Beverage (Holdings) Company Limited announced that, with effect from February 13, 2026, Ms. WU Xia (‘Ms. WU’) has resigned as the chief financial officer of the Company (the ‘Chief Financial Officer’) due to other work arrangements. Ms. WU has confirmed that she has no disagreement with the Board and there are no other matters relating to her resignation that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the ‘Stock Exchange’). The Board further announced that, with effect from February 13, 2026, Ms. HUANG Hu (‘Ms. HUANG’) has been appointed as the Chief Financial Officer. Ms. HUANG Hu, aged 46, joined China Resources in September 2009 and has worked successively for the Group, China Resources Ng Fung Limited (‘China Resources Ng Fung’) and China Resources Building Materials Technology Holdings Limited (a company listed on the Stock Exchange (‘China Resources Building Materials Technology’). Ms. HUANG worked for the Group for over 10 years, served as the assistant general manager and the deputy general manager of the finance department of the Group from February 2013 to January 2021 with extensive experience in financial management in the fast-moving consumer goods industry. She served as the general manager of the finance department of China Resources Ng Fung from January 2021 to June 2024, served as the chief financial officer of China Resources Building Materials Technology since June 2024 and concurrently served as secretary of the board of directors of China Resources Building Materials Technology since December 2024. Prior to joining China Resources, Ms. HUANG worked at CITIC Securities Co. Ltd. and China Merchants International (China) Investments Co. Ltd. Ms. HUANG holds a bachelor's degree in accounting from the Hunan University in China and is a Certified Public Accountant in China. Announcement • Jan 16
China Resources Beverage (Holdings) Company Limited Announces Board and Committee Changes, Effective January 14, 2026 China Resources Beverage (Holdings) Company Limited announced that, with effect from January 14, 2026, Mr. ZHANG Weitong resigned as an executive Director, chairman of the nomination committee, and authorized representative of the Company due to work requirements. The Board further announced that, with effect from January 14, 2026, Mr. GAO Li has been appointed as an executive Director and chairman of the nomination committee, and Mr. LI Shuqing, an executive Director and the president, has been appointed as the Authorized Representative. Mr. GAO Li, aged 52, joined China Resources in August 2007 and has successively worked for China Resources Enterprise Limited, the Group, China Resources Power Holdings Company Limited, and China Resources (Holdings) Company Limited. Mr. GAO worked in the Group for nearly 10 years, possessing cross-disciplinary business management experience, and served as the chief financial officer of the Group from 2012 to 2020. From March 2020 to January 2025, he served as the deputy general manager of the Finance Department of CRH and the chief financial officer of CR Power; and he has been the general manager of the Finance Department of CRH since January 2025. Prior to joining China Resources, Mr. Gao worked in the National Audit Office for many years. Mr. Gao holds a Bachelor’s Degree and a Master’s Degree in Economics from Dongbei University of Finance and Economics in China, and is a Certified Public Accountant and an International Internal Auditor in China. Upcoming Dividend • Sep 04
Upcoming dividend of HK$0.13 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 24 October 2025. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Hong Kong dividend payers (6.7%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 31
First half 2025 earnings released First half 2025 results: EPS: CN¥0.34. Net income: CN¥805.1m (up CN¥805.1m from 1H 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Beverage industry in Hong Kong. Announcement • Aug 19
China Resources Beverage (Holdings) Company Limited to Report First Half, 2025 Results on Aug 29, 2025 China Resources Beverage (Holdings) Company Limited announced that they will report first half, 2025 results on Aug 29, 2025 New Risk • Jul 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (102% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • May 13
China Resources Beverage (Holdings) Company Limited, Annual General Meeting, Jun 06, 2025 China Resources Beverage (Holdings) Company Limited, Annual General Meeting, Jun 06, 2025, at 10:30 China Standard Time. Location: 50th floor, china resources building, 26 harbour road., wanchai Hong Kong Reported Earnings • Apr 26
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥0.79 (up from CN¥0.67 in FY 2023). Revenue: CN¥13.5b (flat on FY 2023). Net income: CN¥1.64b (up 23% from FY 2023). Profit margin: 12% (up from 9.8% in FY 2023). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Beverage industry in Hong Kong. Reported Earnings • Mar 22
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥0.79 (up from CN¥0.67 in FY 2023). Revenue: CN¥13.5b (flat on FY 2023). Net income: CN¥1.64b (up 23% from FY 2023). Profit margin: 12% (up from 9.8% in FY 2023). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Beverage industry in Hong Kong. Announcement • Mar 21
China Resources Beverage (Holdings) Company Limited Proposes Special Dividend for the Financial Year Ended 31 December 2024, Payable on 24 July 2025 China Resources Beverage (Holdings) Company Limited proposed Special Dividend of RMB 0.176 per share for the financial year ended 31 December 2024. Ex-dividend date is 12 June 2025. Record date is 16 June 2025. Payment date is 24 July 2025. Announcement • Mar 01
China Resources Beverage (Holdings) Company Limited to Report Fiscal Year 2024 Results on Mar 21, 2025 China Resources Beverage (Holdings) Company Limited announced that they will report fiscal year 2024 results on Mar 21, 2025 Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$13.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Beverage industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$20.49 per share. Announcement • Oct 23
China Resources Beverage (Holdings) Company Limited has completed an IPO in the amount of HKD 5.04348 billion. China Resources Beverage (Holdings) Company Limited has completed an IPO in the amount of HKD 5.04348 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 139,130,600
Price\Range: HKD 14.5
Discount Per Security: HKD 0.174
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,702,800
Price\Range: HKD 14.5
Discount Per Security: HKD 0.174
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 165,992,800
Price\Range: HKD 14.5
Discount Per Security: HKD 0.174
Transaction Features: Regulation S; Rule 144A Board Change • Oct 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Yinquan Li was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
