Xin Lang Cai Jing·2025-11-20 12:01Core Viewpoint - Carlsberg is considering selling part of its Asian business, with Sapporo Brewery as a potential buyer, but the deal may not proceed if key terms are not agreed upon [1] Group 1: Potential Transaction - Sapporo Brewery has established a business partnership with Carlsberg in 2023, focusing on production and sales in Hong Kong, Singapore, and Malaysia [1] - If the transaction occurs, Sapporo could leverage Carlsberg's distribution network in Asia, aligning with its strategy to strengthen its core beer business [1] Group 2: Financial Performance - Carlsberg is facing growth pressure in the Chinese market, with a slight decline of 2% expected in the overall beer market [1] - In Q3, Chongqing Brewery reported revenue of 4.22 billion yuan, a year-on-year increase of 0.41%, but net profit decreased by 12.71% to 376 million yuan [1] - For the first three quarters of 2023, Chongqing Brewery's revenue was 13.06 billion yuan, a slight decrease of 0.03%, and net profit was 1.24 billion yuan, down 6.83% [2] Group 3: Strategic Initiatives - Carlsberg is actively expanding non-current drinking channels, enhancing its premium strategy, and increasing investment in innovative products [3] - Chongqing Brewery has introduced several new products, including "Ushu Craft Red Robe Beer" and "Dali Craft," to boost market share in canned products [3] - Carlsberg's CEO noted an 8% growth in its premium market segment, largely driven by growth in China [3] Group 4: Market Dynamics - Despite a 1.18% increase in revenue from high-end products, mainstream and economy products saw declines of 1.66% and 1.21%, respectively, leading to only a slight overall increase in main business revenue [4] - Chongqing Brewery is accelerating its entry into non-beer categories to meet diverse consumer demands, particularly in dining [4] - Carlsberg is strengthening its brand association with football, having established partnerships with both European and local Chinese football events [4] - Looking ahead to Q4, Carlsberg anticipates a slight decline in the overall Chinese beer market but expects positive sales growth in its own operations [4]