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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.
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H1 2025 earnings summary19 Aug, 2025

Executive summary

  • Achieved record financial performance in 1H2025, with gross profit margin, EBIT, and profit attributable to shareholders reaching all-time highs, driven by premiumisation and cost savings strategies.

  • Turnover for the first half of 2025 was RMB 23,942 million, up 0.8% year-over-year.

  • Interim dividend per share increased by 24% to RMB 0.464, rewarding shareholders.

  • Beer business outperformed peers in sales volume, average selling price, and turnover, with premium and sub-premium segments showing double-digit growth.

  • Online and instant retail businesses recorded nearly 40% and 50% year-on-year GMV growth, respectively.

Financial highlights

  • Profit attributable to shareholders grew 23% year-over-year to RMB 5,789 million; basic EPS up 23% to RMB 1.78.

  • EBITDA increased 19% to RMB 8,922 million; EBIT up 21% to RMB 7,691 million.

  • Net cash from operating activities increased 6% to RMB 6,373 million; net cash position up 44% to RMB 7,382 million.

  • Interim dividend per share increased 24.4% to RMB 0.464.

  • Net assets per share increased to RMB 11.16 from RMB 9.77 at year-end 2024.

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.

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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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