Cai Jing Wang·2026-03-11 08:39Core Viewpoint - China Resources Beer has issued a profit warning, expecting a significant decline in net profit for the previous year, primarily due to goodwill impairment related to its acquisition of a Chinese liquor manufacturer [1] Financial Performance - The company anticipates a net profit of approximately RMB 2.92 billion to RMB 3.35 billion, representing a year-on-year decrease of about 29.6% to 38.6% [1] Goodwill Impairment - The reduction in profit is mainly attributed to a goodwill impairment estimated between RMB 2.79 billion and RMB 2.97 billion, which was recognized following the acquisition of a 55.19% stake in Guizhou Jinsha Jiao Liquor Co., Ltd [1] Market Conditions - The goodwill impairment is primarily due to weak demand in the liquor market, with a contraction in consumer demand scenarios leading to reduced consumption [1]