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China Resources Beer (Holdings) Company (0291) investor relations material
China Resources Beer (Holdings) Company H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary19 Aug, 2025
Executive summary
Turnover for 1H2025 was RMB23,942 million, up 0.8% year-over-year, with record highs in gross profit margin (48.9%), EBIT, and profit attributable to shareholders, driven by premiumisation and cost savings strategies.
EBIT reached RMB7,691 million, up 20.8% year-over-year; profit attributable to shareholders grew 23% to RMB5,789 million; basic EPS was RMB1.78.
Interim dividend per share increased 24% to RMB0.464, rewarding shareholders.
Beer business outperformed peers in sales volume, average selling price, and turnover, with premium and sub-premium segments showing double-digit growth.
Baijiu business faced industry headwinds but maintained stable margins, with premium product “Zhaiyao” contributing nearly 80% of segment turnover.
Financial highlights
Gross profit margin increased by 2.0 percentage points to 48.9%; turnover rose to RMB23,942 million.
EBITDA increased 19% to RMB8,922 million; EBIT up 21% to RMB7,691 million.
Profit attributable to shareholders was RMB5,789 million, up 23% year-over-year; basic EPS rose to RMB1.78.
Net cash position improved to RMB7,382 million as of 30 June 2025; net cash from operating activities increased 6% to RMB6,373 million.
Interim dividend per share: RMB0.464 (2024: RMB0.373); dividend payout ratio remained at 26%.
Outlook and guidance
Continued focus on premiumisation, digital transformation, and cost efficiency to drive future growth.
Strategic partnerships, new product development, and innovative marketing to capture evolving consumer trends.
Baijiu business to focus on product portfolio optimisation, channel expansion, and cost management.
Management expects sufficient resources to meet liabilities and continue operations for the foreseeable future.
Assess baijiu's long-term strategy.
Explain the online business growth.
Detail pledged assets as of June 2025.
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Next China Resources Beer (Holdings) Company earnings date
H2 202517 Mar, 2026
Next China Resources Beer (Holdings) Company earnings date
H2 202517 Mar, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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Frequently asked questions
China Resources Beer (Holdings) Company Limited operates as a subsidiary of China Resources Holdings, focusing on a diverse range of sectors including retailing, beverages, food processing and distribution, textiles, and real estate primarily in Hong Kong and Mainland China. The company is recognized for its significant presence in the beverage industry, particularly through its majority stake in CR Snow, which is the largest brewing company in China. The company's operations encompass the manufacture, distribution, and sale of beer products, catering to both domestic and international markets. The company is headquartered in Hong Kong, and its shares are listed on the Hong Kong Stock Exchange.
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