Qi Lu Wan Bao·2025-08-20 02:47Core Insights - China Resources Beer (00291.HK) reported a comprehensive revenue of RMB 23.942 billion for the first half of 2025, representing a year-on-year growth of 0.8% [1][4] - The company's profit before interest and tax increased by 20.8% to RMB 7.691 billion, while the profit attributable to shareholders rose by 23.0% to RMB 5.789 billion [1][4] - The board declared an interim dividend of RMB 0.464 per share, up 24.4% from the previous year [1][4] Beer Business Performance - Beer sales reached 6.487 million kiloliters, marking a 2.2% increase year-on-year [1][4] - Sales of premium and above beer grew by over 10%, with key brands performing exceptionally: "Heineken" sales increased by over 20%, "Snow" by over 70%, and "Red Duke" sales doubled [1][4] - The average selling price of beer rose by 0.4%, and the gross margin for the beer business improved by 2.5 percentage points to 48.3% due to cost optimization in raw material procurement [1][4] Baijiu Business Performance - The baijiu business reported an unaudited revenue of RMB 781 million, with the major product "Abstract" contributing nearly 80% of this revenue [1][4] - The gross margin for the baijiu business remained stable, with profit before interest, tax, depreciation, and amortization at RMB 218 million [1][4] Future Outlook - For the second half of 2025, the company plans to continue its strategy of "winning high-end and excellent development," focusing on consumer trends and agile responses to new demands [2][4] - The company aims to implement a "streamlined, lean, and refined" strategy and enhance its competitive position through innovative marketing and product concepts [2][4]