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China Resources Beer (Holdings) Company Limited logo

China Resources Beer (Holdings) Company Limited

0291.HK

HKSEConsumer DefensiveBeverages - Alcoholic

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Latest quote

HK$20.96

−HK$0.16 · -0.76%

Aug 24, 11:59 AM HKT

0291.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China. It offers beer and baijiu products. The company was formerly known as China Resources Enterprise, Limited and changed its name to China Resources Beer (Holdings) Company Limited in October 2015. The company was incorporated in 1965 and is based in Wan Chai, Hong Kong. China Resources Beer (Holdings) Company Limited operates as a subsidiary of CRH (Beer) Limited.

Industry
Beverages - Alcoholic
Sector
Consumer Defensive
Headquarters
HK
CEO
Hou Xiaohai
Listed since
Dec 30, 1988
Employees
24,000

Market position

Day range

Current HK$20.96

52-week range

Current HK$20.96

Open
HK$21.16
Previous close
HK$21.12
Volume
4.5M
0.45× average
Average volume
9.95M
Average daily volume
Market cap
67.99B HKD
Beta
0.43
Market reference 1
50-day average
HK$22.632
-7.39% below average
200-day average
HK$25.4472
-17.63% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
81.54B CNY
P/E (TTM)
21.91×
P/B (TTM)
1.64×
P/S (TTM)
1.54×
EV / EBITDA
10.25×
Earnings yield
3.96%
Free cash flow yield
6.26%
Dividend yield
5.48%

Profitability & efficiency

Gross margin
42.29%
Operating margin
14.82%
Net margin
7.06%
Return on equity
10.44%
Return on assets
4.91%
Return on invested capital
7.59%

Financial health

Debt / equity
0.15×
Current ratio
0.82×
Altman Z-score
2.38
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends46%33%19%5%Gross margin, FY2021: 39.16%Gross margin, FY2022: 38.46%Gross margin, FY2023: 41.36%Gross margin, FY2024: 42.64%Gross margin, FY2025: 43.07%Operating margin, FY2021: 10.18%Operating margin, FY2022: 11.31%Operating margin, FY2023: 12.33%Operating margin, FY2024: 14.19%Operating margin, FY2025: 15.03%Net margin, FY2021: 13.74%Net margin, FY2022: 12.32%Net margin, FY2023: 13.24%Net margin, FY2024: 12.27%Net margin, FY2025: 8.87%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 39.16%. Gross margin FY2022 38.46%. Gross margin FY2023 41.36%. Gross margin FY2024 42.64%. Gross margin FY2025 43.07%. Operating margin FY2021 10.18%. Operating margin FY2022 11.31%. Operating margin FY2023 12.33%. Operating margin FY2024 14.19%. Operating margin FY2025 15.03%. Net margin FY2021 13.74%. Net margin FY2022 12.32%. Net margin FY2023 13.24%. Net margin FY2024 12.27%. Net margin FY2025 8.87%.

Income trends

Revenue

37.97B CNY-1.72%

Operating income

5.71B CNY+4.05%

Net income

3.37B CNY-28.89%
Income trends across reported periods42.49B CNY28.26B CNY14.04B CNY−186.51M CNYRevenue, FY2021: 33.39B CNYRevenue, FY2022: 35.26B CNYRevenue, FY2023: 38.93B CNYRevenue, FY2024: 38.64B CNYRevenue, FY2025: 37.97B CNYOperating income, FY2021: 3.4B CNYOperating income, FY2022: 3.99B CNYOperating income, FY2023: 4.8B CNYOperating income, FY2024: 5.48B CNYOperating income, FY2025: 5.71B CNYNet income, FY2021: 4.59B CNYNet income, FY2022: 4.34B CNYNet income, FY2023: 5.15B CNYNet income, FY2024: 4.74B CNYNet income, FY2025: 3.37B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 33.39B CNY. Revenue FY2022 35.26B CNY. Revenue FY2023 38.93B CNY. Revenue FY2024 38.64B CNY. Revenue FY2025 37.97B CNY. Operating income FY2021 3.4B CNY. Operating income FY2022 3.99B CNY. Operating income FY2023 4.8B CNY. Operating income FY2024 5.48B CNY. Operating income FY2025 5.71B CNY. Net income FY2021 4.59B CNY. Net income FY2022 4.34B CNY. Net income FY2023 5.15B CNY. Net income FY2024 4.74B CNY. Net income FY2025 3.37B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue37.97B CNY38.64B CNY38.93B CNY35.26B CNY33.39B CNY
Cost of goods sold21.62B CNY22.16B CNY22.83B CNY21.7B CNY20.31B CNY
Gross profit16.35B CNY16.48B CNY16.1B CNY13.56B CNY13.07B CNY
Selling, general, and administrative10.65B CNY11.68B CNY11.43B CNY10.07B CNY10.36B CNY
Operating expenses10.65B CNY10.99B CNY10.54B CNY9.57B CNY9.68B CNY
Interest income107M CNY169M CNY361M CNY388.03M CNY243M CNY
Interest expense58M CNY81M CNY182M CNY47.99M CNY6M CNY
Depreciation and amortization2.25B CNY2.35B CNY2.28B CNY1.82B CNY1.64B CNY
Operating income5.71B CNY5.48B CNY4.8B CNY3.99B CNY3.4B CNY
Net income3.37B CNY4.74B CNY5.15B CNY4.34B CNY4.59B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
29%
2 beats, 5 misses, 0 met estimates
Average EPS surprise
-1085.53%
7 comparable reports
Latest EPS result
0.23
Estimate 0.24 · Miss by 1.85%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.161.090.01-1.07Q3 '23MissQ4 '23No estimateQ3 '24MissQ4 '24No estimateQ3 '25BeatQ1 '26MissQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 15, 2023: actual 1.55, estimate 1.72, surprise -9.88%, Miss. Q4 2023, reported Dec 31, 2023: actual 0.155, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 19, 2024: actual 0.2, estimate 0.205, surprise -2.68%, Miss. Q4 2024, reported Dec 31, 2024: actual 0.012, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 18, 2025: actual 1.94, estimate 1.75, surprise +10.86%, Beat. Q1 2026, reported Mar 23, 2026: actual -0.846, estimate 0.011, surprise -7699.19%, Miss. Q3 2026, reported Aug 19, 2026: actual 0.234, estimate 0.238, surprise -1.85%, Miss. Q1 2027, reported Mar 22, 2027: actual —, estimate 0.175, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates47.13B35.14B23.14B11.15BQ3 '23MissQ4 '23No estimateQ3 '24MissQ4 '24No estimateQ3 '25MissQ1 '26MissQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 15, 2023: actual 25.8B HKD, estimate 44.61B HKD, surprise -42.18%, Miss. Q4 2023, reported Dec 31, 2023: actual 15.06B HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 19, 2024: actual 23.94B HKD, estimate 25.66B HKD, surprise -6.72%, Miss. Q4 2024, reported Dec 31, 2024: actual 16.5B HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 18, 2025: actual 13.12B HKD, estimate 26.41B HKD, surprise -50.33%, Miss. Q1 2026, reported Mar 23, 2026: actual 15.63B HKD, estimate 16.6B HKD, surprise -5.83%, Miss. Q3 2026, reported Aug 19, 2026: actual 23.91B HKD, estimate 28.29B HKD, surprise -15.51%, Miss. Q1 2027, reported Mar 22, 2027: actual —, estimate 16.47B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.93

2025 complete year+95.8% since 2021

2026 partial: HK$0.638

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend May 22, 2026

HK$0.638

Semi-Annual

Record Sep 3, 2026 · Payment Oct 21, 2026

Dividend

Ex-dividend Sep 2, 2025

HK$0.51

Semi-Annual

Record Sep 3, 2025 · Payment Oct 22, 2025

Dividend

Ex-dividend May 22, 2025

HK$0.42

Semi-Annual

Record May 23, 2025 · Payment Jul 4, 2025

Dividend

Ex-dividend Sep 3, 2024

HK$0.407

Annual

Record Sep 4, 2024 · Payment Oct 23, 2024

Dividend

Ex-dividend May 22, 2024

HK$0.384

Special

Record May 23, 2024 · Payment Jul 4, 2024

Dividend

Ex-dividend Aug 30, 2023

HK$0.312

Semi-Annual

Record Sep 1, 2023 · Payment Oct 20, 2023

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ETFs holding 0291.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
70.71M
Weight
0.01%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Emerging Markets ETF logoVanguard FTSE Emerging Markets ETFVWO
Market value
66.42M
Weight
0.04%
AUM
162.3B USD
Expense ratio
0.06%
Price / 1D
$60.45+0.72%
iShares Core MSCI Emerging Markets ETF logoiShares Core MSCI Emerging Markets ETFIEMG
Market value
48.15M
Weight
0.03%
AUM
160B USD
Expense ratio
0.09%
Price / 1D
$81.57+0.64%
Avantis Emerging Markets Equity ETF logoAvantis Emerging Markets Equity ETFAVEM
Market value
14.52M
Weight
0.05%
AUM
27.89B USD
Expense ratio
0.33%
Price / 1D
$94.24+0.75%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
11.73M
Weight
0.01%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.69+0.82%
iShares MSCI Emerging Markets ETF logoiShares MSCI Emerging Markets ETFEEM
Market value
10.39M
Weight
0.03%
AUM
31.22B USD
Expense ratio
0.72%
Price / 1D
$67.12+0.75%
iShares MSCI China ETF logoiShares MSCI China ETFMCHI
Market value
10.3M
Weight
0.16%
AUM
6.29B USD
Expense ratio
0.59%
Price / 1D
$55.66+0.27%
Brandes International ETF logoBrandes International ETFBINV
Market value
6.45M
Weight
1.19%
AUM
208.51M USD
Expense ratio
0.70%
Price / 1D
$45.66+0.55%

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