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China Resources Beverage (Holdings) Company (2460) investor relations material
China Resources Beverage (Holdings) Company H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for the first half of 2025 was RMB6,205.6 million, down 18.5% year-over-year, mainly due to a decline in packaged water sales and channel adjustments.
Net profit for the period was RMB823.0 million, a decrease of 28.7% compared to the same period last year, with net profit margin dropping from 15.2% to 13.3%.
Gross margin was 46.7%, down 2.6 percentage points year-over-year, impacted by lower revenue and product mix changes.
The company declared an interim dividend of RMB0.118 per share for the period, totaling RMB282.99 million.
Financial highlights
Cost of sales decreased by 14.3% to RMB3,309.5 million, reflecting lower packaged water sales and raw material prices.
Other income rose 92.8% to RMB217.3 million, driven by higher interest income and government grants.
Distribution and selling expenses fell 9.9% to RMB1,884.3 million, mainly due to reduced transport costs.
R&D costs decreased to RMB14.8 million from RMB17.9 million year-over-year.
Capital expenditures for the period were RMB620.6 million, primarily for property, plant, and equipment.
Outlook and guidance
The company will continue to focus on a brand-driven strategy, expanding healthy product offerings and leveraging sports marketing to boost brand recognition.
Plans include further optimization of production capacity, deepening end-point sales coverage, and enhancing production autonomy and efficiency.
Continued investment in R&D and digitalization to meet evolving consumer demands.
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