Ge Long Hui·2026-03-10 12:15Core Viewpoint - China Resources Beer (00291.HK) is expected to report a profit of approximately 2.92 billion to 3.35 billion yuan for the fiscal year ending December 31, 2025, representing a year-on-year decrease of about 29.6% to 38.6% compared to the profit of approximately 4.76 billion yuan for the fiscal year ending December 31, 2024 [1] Group 1 - The decrease in profit is primarily attributed to an impairment of goodwill estimated between 2.79 billion to 2.97 billion yuan, which was recognized following the acquisition of a 55.19% stake in Guizhou Jinsha Jiaojiu Liquor Co., Ltd. on January 10, 2023 [1] - The impairment of goodwill is mainly due to weak demand in the liquor market, leading to a contraction in consumption scenarios and a reduction in consumer demand [1]