智通财经网·2025-11-18 03:46Core Viewpoint - Daiwa's report indicates that China Resources Beer (00291) is adapting to new retail channels and developing new flavors to cater to the rapidly changing preferences of young Chinese consumers [1] Company Strategy - The management emphasized the importance of aligning with instant retail and introducing new flavors such as fruit-flavored and tea-flavored beers [1] - The company is expected to maintain a competitive edge over its main rivals due to its strong execution capabilities and flexible strategies [1] Financial Outlook - Daiwa has lowered the earnings per share forecast for China Resources Beer by 4% for the years 2025 to 2027 due to a potential slowdown in the expansion of average selling prices and profit margins [1] - The target price has been adjusted from HKD 38 to HKD 36, based on a projected price-to-earnings ratio of 18 times for the next year [1]