The Zhitong Finance App learned that Lyon released a research report saying that the recovery in Budweiser Asia Pacific (01876.HK) sales in the Chinese market is still under pressure, but the improvement in revenue and brand portfolio per 100 litres has exceeded expectations. The company continues to prioritize sales and increase investment in China, but overall macro and weather conditions have not been favorable. The stock price fluctuated greatly after the results, possibly due to profit exceeding expectations, but management was conservative about the outlook for the third quarter and the dividend plan. The bank adjusted its profit forecast and lowered the target price from HK$9 to HK$8.7, maintaining the “outperforming the market” rating. Revenue for the second quarter rose 0.2% year over year to US$1,678 million, and natural growth fell 2.1%, 5.2% higher than expected. Net profit fell 0.2% year over year to US$256 million, exceeding the bank's and market expectations by 34%. Sales in China fell 9.7% year on year, but revenue per 100 litres naturally increased by 7.2%. Sales in Korea remained flat year over year. The bank lowered its 2026-2027 revenue forecast by 0.2% to 1%, and raised 2026-2028 net profit by 7% to 9%.

The Zhitong Finance App learned that Lyon released a research report saying that the recovery in Budweiser Asia Pacific (01876.HK) sales in the Chinese market is still under pressure, but the improvement in revenue and brand portfolio per 100 litres has exceeded expectations. The company continues to prioritize sales and increase investment in China, but overall macro and weather conditions have not been favorable. The stock price fluctuated greatly after the results, possibly due to profit exceeding expectations, but management was conservative about the outlook for the third quarter and the dividend plan. The bank adjusted its profit forecast and lowered the target price from HK$9 to HK$8.7, maintaining the “outperforming the market” rating. Revenue for the second quarter rose 0.2% year over year to US$1,678 million, and natural growth fell 2.1%, 5.2% higher than expected. Net profit fell 0.2% year over year to US$256 million, exceeding the bank's and market expectations by 34%. Sales in China fell 9.7% year on year, but revenue per 100 litres naturally increased by 7.2%. Sales in Korea remained flat year over year. The bank lowered its 2026-2027 revenue forecast by 0.2% to 1%, and raised 2026-2028 net profit by 7% to 9%.