China Resources Beer (Holdings) Past Earnings Performance

Past criteria checks 3/6

China Resources Beer (Holdings) has been growing earnings at an average annual rate of 26%, while the Beverage industry saw earnings growing at 19.2% annually. Revenues have been growing at an average rate of 4.3% per year. China Resources Beer (Holdings)'s return on equity is 14.3%, and it has net margins of 13.4%.

Key information

26.0%

Earnings growth rate

26.0%

EPS growth rate

Beverage Industry Growth	23.0%
Revenue growth rate	4.3%
Return on equity	14.3%
Net Margin	13.4%
Last Earnings Update	30 Jun 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How China Resources Beer (Holdings) makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

SHSC:291 Revenue, expenses and earnings (CNY Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 24	38,805	5,209	11,473
31 Mar 24	38,869	5,181	11,379
31 Dec 23	38,932	5,153	11,285
30 Sep 23	38,527	5,172	11,181
30 Jun 23	38,121	5,191	10,865
31 Mar 23	36,692	4,768	10,350
31 Dec 22	35,263	4,344	9,835
30 Sep 22	35,015	4,221	9,930
30 Jun 22	34,766	4,098	10,025
31 Mar 22	34,077	4,343	10,044
31 Dec 21	33,387	4,587	10,062
30 Sep 21	33,531	4,447	10,111
30 Jun 21	33,674	4,306	10,159
31 Mar 21	32,561	3,200	10,064
31 Dec 20	31,448	2,094	9,968
30 Sep 20	31,611	1,807	10,135
30 Jun 20	31,773	1,520	10,301
31 Mar 20	32,482	1,416	10,286
31 Dec 19	33,190	1,312	10,271
30 Sep 19	33,159	1,326	9,762
30 Jun 19	33,127	1,340	9,252
31 Mar 19	32,497	1,159	9,151
31 Dec 18	31,867	977	9,050
30 Sep 18	31,695	1,245	8,761
30 Jun 18	31,523	1,513	8,471
31 Mar 18	30,628	1,344	8,415
31 Dec 17	29,732	1,175	8,358
30 Sep 17	29,494	1,185	8,432
30 Jun 17	29,255	1,194	8,505
31 Mar 17	28,975	912	8,391
31 Dec 16	28,694	629	8,277
30 Sep 16	28,184	785	7,611
30 Jun 16	27,673	941	6,944
31 Mar 16	27,816	1,080	7,214
31 Dec 15	27,959	1,219	7,483
30 Sep 15	28,887	1,384	8,058
30 Jun 15	28,302	1,475	8,139
31 Mar 15	27,935	1,149	8,245
31 Dec 14	27,579	824	8,355
30 Sep 14	50,400	874	13,655
30 Jun 14	74,644	947	19,338
31 Mar 14	95,950	1,237	23,562
31 Dec 13	114,317	1,490	27,091

Quality Earnings: 291 has high quality earnings.

Growing Profit Margin: 291's current net profit margins (13.4%) are lower than last year (13.6%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 291's earnings have grown significantly by 26% per year over the past 5 years.

Accelerating Growth: 291's earnings growth over the past year (0.3%) is below its 5-year average (26% per year).

Earnings vs Industry: 291 earnings growth over the past year (0.3%) exceeded the Beverage industry 0.2%.

China Resources Beer (Holdings) Past Earnings Performance

Past criteria checks 3/6

Key information

Recent past performance updates

First half 2024 earnings released: EPS: CN¥1.45 (vs CN¥1.43 in 1H 2023)

China Resources Beer (Holdings) Company Limited to Report First Half, 2024 Results on Aug 19, 2024

Full year 2023 earnings released: EPS: CN¥1.59 (vs CN¥1.34 in FY 2022)

Full year 2023 earnings released: EPS: CN¥1.59 (vs CN¥1.34 in FY 2022)

First half 2023 earnings released: EPS: CN¥1.43 (vs CN¥1.17 in 1H 2022)

China Resources Beer (Holdings) Company Limited to Report First Half, 2023 Results on Aug 18, 2023

Recent updates

China Resources Beer (Holdings) Company Limited Appoints Wang Chengwei as Non-Executive Director

China Resources Beer (Holdings) Company Limited Appoints Guo Wei as A Non-Executive Director

Investor sentiment improves as stock rises 17%

First half dividend of HK$0.41 announced

First half 2024 earnings released: EPS: CN¥1.45 (vs CN¥1.43 in 1H 2023)

China Resources Beer (Holdings) Company Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 23 October 2024

China Resources Beer (Holdings) Company Limited to Report First Half, 2024 Results on Aug 19, 2024

Upcoming dividend of CN¥0.65 per share

Now 20% undervalued

Full year 2023 earnings released: EPS: CN¥1.59 (vs CN¥1.34 in FY 2022)

Now 25% undervalued

China Resources Beer (Holdings) Company Limited Proposes Final Dividend for the Year Ended 31 December 2023

Final dividend of CN¥0.65 announced

China Resources Beer (Holdings) Company Limited, Annual General Meeting, May 20, 2024

Full year 2023 earnings released: EPS: CN¥1.59 (vs CN¥1.34 in FY 2022)

China Resources Beer (Holdings) Company Limited Announces Resignation of Zhang Kaiyu as Non-Executive Director and as Member of Nomination Committee

China Resources Beer (Holdings) Company Limited Announces Board Changes , Effect from 1 December 2023

China Resources Beer (Holdings) Company Limited Announces Appointment of Guo Wei as Non-Executive Director

Upcoming dividend of HK$0.31 per share at 1.3% yield

Less than half of directors are independent

First half 2023 earnings released: EPS: CN¥1.43 (vs CN¥1.17 in 1H 2022)

China Resources Beer (Holdings) Company Limited Announces Changes to Its Board

China Resources Beer (Holdings) Company Limited to Report First Half, 2023 Results on Aug 18, 2023

China Resources Beer (Holdings) Company Limited Announces Resignation of Lai Ni Hium, Frank as Non-Executive Director

China Resources Beer (Holdings) Company Limited Announces Change of Chief Financial Officer

China Resources Beer (Holdings) Company Limited Approves Final Dividend for the Year Ended December 31, 2022, Payable on or Around 7 July 2023

Full year 2022 earnings released: EPS: CN¥1.34 (vs CN¥1.41 in FY 2021)

Investor sentiment improved over the past week

Now 20% undervalued after recent price drop

Less than half of directors are independent

Investor sentiment deteriorated over the past week

Now 22% undervalued

Now 20% undervalued

Upcoming dividend of HK$0.27 per share

First half 2022 earnings released: EPS: CN¥1.17 (vs CN¥1.32 in 1H 2021)

China Resources Beer (Holdings) Company Limited Appoints Lai Hin Wing Henry Stephen as an Independent Non-Executive Director

China Resources Beer (Holdings) Company Limited to Report First Half, 2022 Results on Aug 17, 2022

Now 20% undervalued

China Resources Beer (Holdings) Company Limited Approves Ordinary Final Dividend for the Year Ended December 31, 2022, Payable on August 12, 2022

Upcoming dividend of CN¥0.30 per share

Less than half of directors are independent

China Resources Beer (Holdings) Company Limited, Annual General Meeting, Jun 21, 2022

Investor sentiment deteriorated over the past week

China Resources Beer (Holdings) Company Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2021

CEO & Executive Director recently sold HK$3.2m worth of stock

Upcoming dividend of HK$0.32 per share

First half 2021 earnings released: EPS CN¥1.32 (vs CN¥0.64 in 1H 2020)

China Resources Beer (Holdings) Company Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2021

China Resources Beer (Holdings) Company Limited Declares Final Dividend for the Year Ended December 31, 2020, Payable on or Around June 11, 2021

Upcoming dividend of CN¥0.13 per share

Full year 2020 earnings released: EPS CN¥0.65 (vs CN¥0.40 in FY 2019)

Full year 2020 earnings released: EPS CN¥0.65 (vs CN¥0.40 in FY 2019)

China Resources Beer (Holdings) Company Limited to Report Fiscal Year 2020 Results on Mar 22, 2021

New 90-day low: HK$58.50

New 90-day high: HK$74.00

New 90-day high: HK$65.35

China Resources Beer (Holdings) Company Limited Enters into the Supply Framework Agreement with CRH

New 90-day high: HK$55.45

New 90-day low: HK$45.80

First half earnings released

First half earnings released

China Resources Beer (Holdings) Company Limited to Report First Half, 2020 Results on Aug 19, 2020

New 90-day high - HK$54.40

Revenue & Expenses Breakdown

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets