- China Resources Beer's 1H 2020 financial performance was above market expectations, thanks to a strong sales recovery in 2Q 2020, a more favorable product mix, and continued capacity optimization.
- On the flip side, unfavorable weather conditions pose downside risks to China Resources Beer's 2H 2020 earnings, and earnings disappointment could potentially lead to a valuation de-rating.
- China Resources Beer trades at 34.5 times consensus forward FY 2021 P/E, and it offers a consensus forward FY 2021 dividend yield of 1.1%.
For further details see:
China Resources Beer: Positives Priced In