高盛：华润啤酒_消费与休闲企业日_5 月在喜力带动下持续稳健表现；相关思考

2 June 2025 | 10:23PM HKT China Resources Beer (0291.HK): Consumer & Leisure Corporate Day: Continued solid performance in May led by Heineken; Thoughts on We hosted CR Beer at our Consumer & Leisure Corporate Day on Jun 2. Key takeaways: 1) Key metrics' run-rate in May: CRB's beer volume growth in May trended at similar run-rate as in April, i.e above the volume growth of SD% in 1Q25; The blended ASP mildly increased and margin profiles performed positively towards full year target; 2) By brand, the key vo ...