BUD APAC(HK:01876) 智通财经网·2025-09-30 07:55Core Viewpoint - DBS maintains a "Buy" rating on Budweiser APAC (01876) due to low valuation and attractive dividend yield, adjusting the target price from HKD 9.6 to HKD 9.4 [1] Financial Forecasts - The earnings forecast for Budweiser APAC for FY2025 has been reduced by 11% due to weak performance in the Chinese market [1] - Earnings forecasts for FY2026 and FY2027 have each been lowered by 5% [1] Market Performance - Despite anticipated pressure on sales and average selling prices in the Chinese market for Q3, streamlined channel inventory is expected to pave the way for potential sales rebound in Q4 [1] - Budweiser APAC's performance in South Korea has been strong, supported by favorable brand and channel mix as well as price increase measures, leading to a significant rise in average selling prices [1]