Stock CHK CHINA RESOURCES BEER (HOLDINGS) COMPANY LIMITED
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Financials China Resources Beer (Holdings) Company Limited Deutsche Boerse AG

Equities

CHK

HK0291001490

Brewers

Market Closed - Deutsche Boerse AG
Other stock markets
 02:06:50 2024-05-31 am EDT 		5-day change 1st Jan Change
3.7 EUR -0.54% Intraday chart for China Resources Beer (Holdings) Company Limited -5.61% -3.14%
May. 20 China Resources Beer Company Limited Approves to Declare Special Dividend, Payable on or Around 4 July 2024 CI
May. 20 China Resources Beer Company Limited Declares Final Dividend for the Year Ended 31 December 2023, Payable on or Around 4 July 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 139,816 231,622 207,129 176,970 110,951 101,705 - -
Enterprise Value (EV) 1 138,051 226,115 200,685 166,535 110,488 98,545 94,495 89,804
P/E ratio 98.6 x 92 x 36.9 x 35.4 x 19.8 x 15.6 x 13.5 x 11.7 x
Yield 0.42% 0.43% 1.09% 1.12% 2.97% 2.81% 3.25% 3.73%
Capitalization / Revenue 3.86 x 6.17 x 5.05 x 4.36 x 2.62 x 2.26 x 2.12 x 2 x
EV / Revenue 3.81 x 6.02 x 4.9 x 4.1 x 2.61 x 2.19 x 1.97 x 1.76 x
EV / EBITDA 23.4 x 31.9 x 19.6 x 21.3 x 10.8 x 9.01 x 7.68 x 6.57 x
EV / FCF 48.3 x 55.3 x 46.4 x 28.1 x - 14.8 x 12.2 x 10.3 x
FCF Yield 2.07% 1.81% 2.15% 3.56% - 6.74% 8.17% 9.69%
Price to Book 6.51 x 9.15 x 6.9 x 5.73 x 3.37 x 2.83 x 2.46 x 2.27 x
Nbr of stocks (in thousands) 3,244,000 3,244,000 3,244,000 3,244,177 3,244,177 3,244,177 - -
Reference price 2 43.10 71.40 63.85 54.55 34.20 31.35 31.35 31.35
Announcement Date 3/20/20 3/22/21 3/24/22 3/24/23 3/18/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 36,259 37,530 40,996 40,595 42,322 45,010 47,967 50,959
EBITDA 1 5,887 7,083 10,239 7,837 10,196 10,931 12,298 13,678
EBIT 1 4,004 4,999 8,218 6,051 7,720 8,768 10,174 11,572
Operating Margin 11.04% 13.32% 20.05% 14.91% 18.24% 19.48% 21.21% 22.71%
Earnings before Tax (EBT) 1 2,406 3,591 7,632 6,364 7,694 8,882 10,330 11,873
Net income 1 1,433 2,499 5,632 5,001 5,602 6,511 7,529 8,620
Net margin 3.95% 6.66% 13.74% 12.32% 13.24% 14.47% 15.7% 16.92%
EPS 2 0.4370 0.7757 1.731 1.543 1.728 2.011 2.324 2.687
Free Cash Flow 1 2,858 4,091 4,322 5,922 - 6,641 7,717 8,704
FCF margin 7.88% 10.9% 10.54% 14.59% - 14.75% 16.09% 17.08%
FCF Conversion (EBITDA) 48.54% 57.76% 42.21% 75.57% - 60.75% 62.75% 63.63%
FCF Conversion (Net income) 199.38% 163.69% 76.74% 118.43% - 101.99% 102.5% 100.97%
Dividend per Share 2 0.1804 0.3091 0.6954 0.6127 1.017 0.8816 1.018 1.170
Announcement Date 3/20/20 3/22/21 3/24/22 3/24/23 3/18/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 15,693 19,494 16,755 23,579 16,888 24,305 16,405 25,674 16,372 26,714 17,708 29,655 17,568
EBITDA 2,035 4,675 2,100 8,727 - - 1,006 7,921 - - - - -
EBIT 1 - 3,671 1,087 7,747 428.5 6,015 107.4 6,720 829.4 7,570 1,001 9,074 1,043
Operating Margin - 18.83% 6.49% 32.86% 2.54% 24.75% 0.65% 26.17% 5.07% 28.34% 5.65% 30.6% 5.93%
Earnings before Tax (EBT) 1 - - 212.4 - 275.1 6,101 291.3 6,795 826.2 7,628 769.3 8,821 985.6
Net income 1 - 2,328 17.9 5,153 363.5 4,398 624 5,053 547.9 5,811 459.6 6,681 528.1
Net margin - 11.94% 0.11% 21.85% 2.15% 18.09% 3.8% 19.68% 3.35% 21.75% 2.6% 22.53% 3.01%
EPS - - - - 0.1105 1.353 - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 3/20/20 8/19/20 3/22/21 8/18/21 3/24/22 8/17/22 3/24/23 8/18/23 3/18/24 - - - -
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,765 5,506 6,444 10,435 463 3,160 7,210 11,901
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,858 4,091 4,322 5,922 - 6,641 7,717 8,704
ROE (net income / shareholders' equity) 6.81% 10.2% 20.1% 16.9% - 18.6% 19.2% 19.6%
ROA (Net income/ Total Assets) 3.25% 4.91% 9.67% 8.02% - 8.3% 9.01% 9.63%
Assets 1 44,170 50,939 58,220 62,376 - 78,445 83,547 89,515
Book Value Per Share 2 6.620 7.800 9.250 9.520 10.10 11.10 12.70 13.80
Cash Flow per Share 2 1.380 1.650 1.890 2.410 - 2.960 3.140 3.370
Capex 1 1,633 1,248 1,804 1,897 - 2,611 2,532 2,644
Capex / Sales 4.5% 3.32% 4.4% 4.67% - 5.8% 5.28% 5.19%
Announcement Date 3/20/20 3/22/21 3/24/22 3/24/23 3/18/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for China Resources Beer (Holdings) Company Limited

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
33
Last Close Price
31.35 HKD
Average target price
49.1 HKD
Spread / Average Target
+56.62%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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