Budweiser Asia Pacific (01876): Internal restructuring generated $52 million in tax expenses plus $30 million provision for Indian receivables

According to the Zhitong Finance App, Budweiser Asia Pacific (01876) announced that during the quarter ended September 30, 2026, the Group carried out an internal restructuring involving several of its mainland Chinese subsidiaries (including Budweiser Xuejin Brewery Co., Ltd.) to enhance the Group's capital efficiency. As a result of this restructuring, the Group expects to record approximately $52 million in non-basic withholding tax expenses.

The Group supplies beer products to government beverage companies in Telangana, India. A number of the Group's receivables are still outstanding and overdue. In view of the long delays in payments, the Group will make provisions for these accounts receivable of approximately US$30 million in the three-month results ending September 30, 2026, based on prudential principles. The year-on-year changes will be reported as changes in scope and will have no impact on the Group's endogenous growth. The Group will continue to do its best to recover outstanding amounts and take all necessary actions to protect the interests of the Group and its shareholders.

The above matters will have a negative impact on the profit attributable to the Group's equity holders for the three months ended September 30, 2026.