Elevator Pitch
I maintain my "Neutral" rating on Hong Kong-listed Chinese beer company China Resources Beer (Holdings) Company Limited (OTCPK:CRHKY) (OTC:CRHKF) [291:HK].
China Resources Beer is suffering from significant short-term pain as a result of the coronavirus outbreak, with the company's revenue and EBIT down by -26% and -42% YoY respectively in 2M2020. On the flip side, China Resources Beer's product premiumization strategies and the acquisition of Heineken N.V.'s (OTCQX:HEINY) (OTCQX:HINKF) Greater China business suggest attractive growth prospects for the company in the medium-to-long term. The company's