China Resources Beverage 2460

[winston]

not vested

CR Beverage aims to raise $5b amid market volatility

The company, which produces bottled water under the Cestbon brand, commanded the lion's share in the China's purified drinking water market last year.

It priced its shares between HK$13.5 and HK$14.5 apiece.

In China's over 200 billion yuan packaged drinking water market, C'estbon accounted for 18.4 percent market share in 2023.

Source: The Standard

https://www.thestandard.com.hk/section- ... volatility

[winston]

not vested

China Resources Drinks (2460.HK)

For the full year of 2022, 2023, and the first four months of 2024, the company's revenue was RMB 12.6 billion, RMB 13.5 billion and RMB 4.15 billion, up 11.3% year on year;

Net profit was 0.99 billion yuan, 1.33 billion yuan, and 0.45 billion yuan respectively, up 15.2%, 34.7%, and 29.5% year on year.

The company's core product is [Yibao] pure water, with sales reaching 39.5 billion yuan in 23 years, and is the number one brand in the Chinese pure water market.

Based on the net profit calculation for April 23 and 24 years ago, PE-TTM is 20x-21.5x, which is a reasonable valuation.

Recently, sentiment in the Hong Kong stock market has fluctuated greatly, and we have given an IPO-specific rating of “5.6.”

Source: Futu

https://news.futunn.com/en/post/4876229 ... 7420353622

[winston]

vested

<Research>G Sachs Initiates Coverage on CR BEVERAGE (02460.HK) w/ Rating at Buy/ TP $17.3

2024/12/06

Goldman Sachs released a research report expecting CR BEVERAGE (02460.HK) to maintain its position as the second largest player in the RMB230 billion packaged water market, and continue to expand in the RMB689 billion soft drink market by leveraging on its branding, production and distribution network.

The broker initiated coverage on CR BEVERAGE, with rating/ target price at Buy/ $17.3.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

not vested

<Research>BOCI Expects CR BEVERAGE (02460.HK) GPM to Gradually Improve from 2025, Cuts TP to $17.2

CR BEVERAGE (02460.HK) 's FY2024 revenue is 6% lower than BOCI's forecast, while shareholders' net profit is 2% lower than the broker's forecast, BOCI released a research report saying.

BOCI expected CR BEVERAGE's 2025 packaged drinking water sales to return to positive YoY growth in 2025, with gross profit margin rising by 0.8/ 0.5/ 0.4 ppts YoY in 2025-2027.

Related News: CR BEVERAGE 2024 NP Leaps 23%+ YoY to RMB1.637B w/ Final & Special Div. RMB48.3 Cents in Total

Moreover, the broker lowered its FY2025/ FY2026 net profit forecasts for CR BEVERAGE by 8%/ 11% respectively, and cut its target price from $18.22 to $17.2, with rating kept at Buy.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN