Changes in Hong Kong stocks | Beer stocks were higher at the end of the session, and the economy was weak in Q3, and Q4 is expected to improve. Agencies say beer is pessimistic and expected to respond well

The Zhitong Finance App learned that beer stocks were higher at the end of the session. As of press release, China Resources Brewery (00291) rose 4.17% to HK$20.74; Budweiser Asia Pacific (01876) rose 3.25% to HK$6.19; and Tsingtao Brewery shares (00168) rose 2.39% to HK$41.08.

According to the news, the beer sector's three-quarter report shows that the boom during the Q3 peak season was weak. In a single quarter, Tsingtao Brewery's sales volume was -9.1% year-on-year, and tonnage revenue was +3.9%. Yanjing Brewery did not disclose overall sales volume, but sales of the core single product U8 surged 38% year over year. Chongqing beer sales volume was -9.6%, and tonnage price remained flat year-on-year. Pearl River Brewery's sales volume was -2.3% year-on-year, and tonne revenue was +2.3% year-on-year.

Guojin Securities believes that the decline in early fundamental expectations has led to a marked decline in sector valuations, and the market is already pricing wine companies' subsequent cost-side/profit side concerns. Cathay Pacific Haitong Securities said that beer's pessimistic expectations responded well. Guosheng Securities, on the other hand, said that currently beer is gradually entering the low season, and we expect the beer consumption scene to improve in 26Q4 under a low base.