China Resources Beer (CRHKY, Financial) witnessed a significant stock price increase of 6.21% on the US OTC market. The stock recently traded at $7.87 with a trading volume of 11,854 shares. Its price swung within a range of 3.24% during this period.
The company's latest financial report reveals a revenue of $3.291 billion, net profits of $652 million, and an earnings per share (EPS) of $0.40. Additionally, it recorded a gross profit of $1.492 billion and holds a price-to-earnings (P/E) ratio of 17.46.
In terms of analyst recommendations, 97% of the 35 participating institutions suggest buying the stock, while 3% recommend holding. No institution advised selling.
The stock's industry, alcoholic beverages, saw an overall decline of 0.43%. Among its peers, Boston Beer, Molson Coors Beverage, and Chile's CCU posted significant gains. These stocks were also active with turnover rates of 0.46%, 0.36%, and 0.33% respectively. Boston Beer, Molson Coors, and Ambev SA exhibited high volatility.
China Resources Beer, initially a diversified enterprise in retail, beer, food, and beverages, transitioned in 2015 to focus solely on beer production. It strengthened its position in the Chinese beer market through various acquisitions. In 2019, it acquired Heineken China, enhancing its premium brand portfolio and expanding Heineken's market presence via its extensive distribution network. According to Euromonitor, China Resources Beer holds the largest market share in the Chinese beer market at about 26%, surpassing Tsingtao Brewery and Budweiser APAC.
