智通财经网·2025-10-30 07:17Core Viewpoint - Bank of China International reports that Qingdao Beer Co., Ltd. (00168) experienced a revenue increase of 1.4% and a net profit increase of 5.7% year-on-year for the first three quarters, slightly below expectations [1] Financial Performance - For the third quarter, Qingdao Beer’s total revenue decreased by 0.2% year-on-year, with volume and price changes of 0.3% increase and 0.5% decrease respectively, attributed to ongoing price deflation pressures from factory to retail for essential consumer goods [1] - Sales of mid-to-high-end products increased by 6.8% year-on-year, showing an acceleration from the previous quarter's 4.8%, indicating an encouraging structural improvement [1] Investment Outlook - The target price for Qingdao Beer is maintained at HKD 58.8, corresponding to forecasted price-to-earnings ratios of 15.9 times and 15.3 times for 2025 and 2026 respectively [1] - The rating for Qingdao Beer is "Buy" [1]