| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
291 Overview
China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells beer products under the Snow and Heineken brands.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | HK$59.15 |
| 52 Week High | HK$45.35 |
| 52 Week Low | HK$78.60 |
| Beta | 0.70 |
| 1 Month Change | 1.20% |
| 3 Month Change | -12.37% |
| 1 Year Change | 27.48% |
| 3 Year Change | 110.87% |
| 5 Year Change | 248.35% |
| Change since IPO | 5,043.48% |
Recent News & Updates
China Resources Beer (Holdings) (HKG:291) Shareholders Will Want The ROCE Trajectory To Continue
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Is China Resources Beer (Holdings) Company Limited (HKG:291) Expensive For A Reason? A Look At Its Intrinsic Value
How far off is China Resources Beer (Holdings) Company Limited ( HKG:291 ) from its intrinsic value? Using the most...
Shareholder Returns
| 291 | HK Beverage | HK Market | |
|---|---|---|---|
| 7D | 3.1% | -0.5% | 1.1% |
| 1Y | 27.5% | 0.3% | 5.3% |
Return vs Industry: 291 exceeded the Hong Kong Beverage industry which returned 0.3% over the past year.
Return vs Market: 291 exceeded the Hong Kong Market which returned 5.3% over the past year.
Price Volatility
| 291 volatility | |
|---|---|
| 291 Beta | 0.70 |
| Industry Beta | 0.82 |
| Market Beta | 1 |
Stable Share Price: 291 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: 291's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| n/a | 28,000 | Xiaohai Hou | https://www.crbeer.com.hk |
China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells beer products under the Snow and Heineken brands. As of December 31, 2020, it operated 70 breweries in 25 provinces, municipalities, and autonomous regions in Mainland China. The company was formerly known as China Resources Enterprise, Limited and changed its name to China Resources Beer (Holdings) Company Limited in October 2015.
China Resources Beer (Holdings) Fundamentals Summary
| 291 fundamental statistics | |
|---|---|
| Market Cap | CN¥158.74b |
| Earnings (TTM) | CN¥4.31b |
| Revenue (TTM) | CN¥33.67b |
36.9x
P/E Ratio4.7x
P/S RatioIs 291 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| 291 income statement (TTM) | |
|---|---|
| Revenue | CN¥33.67b |
| Cost of Revenue | CN¥20.32b |
| Gross Profit | CN¥13.35b |
| Expenses | CN¥9.04b |
| Earnings | CN¥4.31b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.33 |
| Gross Margin | 39.64% |
| Net Profit Margin | 12.79% |
| Debt/Equity Ratio | 0% |
How did 291 perform over the long term?
See historical performance and comparisonDividends
1.1%
Current Dividend Yield30%
Payout RatioValuation
Is China Resources Beer (Holdings) undervalued compared to its fair value and its price relative to the market?
24.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 291 (HK$59.15) is trading below our estimate of fair value (HK$77.9)
Significantly Below Fair Value: 291 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 291 is poor value based on its PE Ratio (36.9x) compared to the Hong Kong Beverage industry average (25.5x).
PE vs Market: 291 is poor value based on its PE Ratio (36.9x) compared to the Hong Kong market (9.7x).
Price to Earnings Growth Ratio
PEG Ratio: 291 is poor value based on its PEG Ratio (3.1x)
Price to Book Ratio
PB vs Industry: 291 is overvalued based on its PB Ratio (6.3x) compared to the HK Beverage industry average (0.9x).
Future Growth
How is China Resources Beer (Holdings) forecast to perform in the next 1 to 3 years based on estimates from 29 analysts?
11.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 291's forecast earnings growth (11.9% per year) is above the savings rate (1.5%).
Earnings vs Market: 291's earnings (11.9% per year) are forecast to grow slower than the Hong Kong market (17.4% per year).
High Growth Earnings: 291's earnings are forecast to grow, but not significantly.
Revenue vs Market: 291's revenue (7.7% per year) is forecast to grow slower than the Hong Kong market (12.5% per year).
High Growth Revenue: 291's revenue (7.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 291's Return on Equity is forecast to be low in 3 years time (19.8%).
Past Performance
How has China Resources Beer (Holdings) performed over the past 5 years?
26.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 291 has a large one-off gain of CN¥1.2B impacting its June 30 2021 financial results.
Growing Profit Margin: 291's current net profit margins (12.8%) are higher than last year (4.8%).
Past Earnings Growth Analysis
Earnings Trend: 291's earnings have grown significantly by 26.6% per year over the past 5 years.
Accelerating Growth: 291's earnings growth over the past year (183.3%) exceeds its 5-year average (26.6% per year).
Earnings vs Industry: 291 earnings growth over the past year (183.3%) exceeded the Beverage industry 49.8%.
Return on Equity
High ROE: 291's Return on Equity (17.1%) is considered low.
Financial Health
How is China Resources Beer (Holdings)'s financial position?
Financial Position Analysis
Short Term Liabilities: 291's short term assets (CN¥19.0B) do not cover its short term liabilities (CN¥21.9B).
Long Term Liabilities: 291's short term assets (CN¥19.0B) exceed its long term liabilities (CN¥5.8B).
Debt to Equity History and Analysis
Debt Level: 291 is debt free.
Reducing Debt: 291 has no debt compared to 5 years ago when its debt to equity ratio was 22.3%.
Debt Coverage: 291 has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: 291 has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is China Resources Beer (Holdings) current dividend yield, its reliability and sustainability?
1.08%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 291's dividend (1.08%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.26%).
High Dividend: 291's dividend (1.08%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.78%).
Stability and Growth of Payments
Stable Dividend: 291 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.
Growing Dividend: 291 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: 291 is not paying a notable dividend for the Hong Kong market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of 291's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.8yrs
Average management tenure
CEO
Xiaohai Hou (52 yo)
5.5yrs
Tenure
CN¥8,470,000
Compensation
Mr. Hou Xiaohai has been Chief Executive Officer and Executive Director of China Resources Beer (Holdings) Company Limited since April 15, 2016. Mr. Hou was appointed as General Manager of China Resources...
CEO Compensation Analysis
Compensation vs Market: Xiaohai's total compensation ($USD1.32M) is about average for companies of similar size in the Hong Kong market ($USD1.06M).
Compensation vs Earnings: Xiaohai's compensation has increased by more than 20% in the past year.
Leadership Team
Experienced Management: 291's management team is seasoned and experienced (7.8 years average tenure).
Board Members
Experienced Board: 291's board of directors are seasoned and experienced ( 12.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: 291 insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
China Resources Beer (Holdings) Company Limited's employee growth, exchange listings and data sources
Key Information
- Name: China Resources Beer (Holdings) Company Limited
- Ticker: 291
- Exchange: SEHK
- Founded: NaN
- Industry: Brewers
- Sector: Food, Beverage & Tobacco
- Market Cap: HK$191.883b
- Shares outstanding: 3.24b
- Website: https://www.crbeer.com.hk
Number of Employees
Location
- China Resources Beer (Holdings) Company Limited
- China Resources Building
- Room 2301 & 2310
- Wan Chai
- Hong Kong
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/17 10:06 |
| End of Day Share Price | 2021/10/15 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.