BUD APAC(HK:01876) 第一财经·2025-11-13 03:15Core Viewpoint - Budweiser China is expanding its strategic focus in the Guangdong-Hong Kong-Macao Greater Bay Area, emphasizing the integration of beer with the night economy to stimulate consumption and social engagement [1][5][9]. Group 1: Strategic Expansion - Budweiser China plans to increase its commercial investment in Guangdong, marking a new phase of development in the Greater Bay Area after over 40 years of presence [5][6]. - The company aims to leverage its historical ties to the region, where it began its journey in China, to foster a new wave of integrated growth [5][6]. Group 2: Night Economy Focus - Budweiser China is preparing a "Beer +" strategy to enhance the night economy by introducing international sports and music events, including the FIFA World Cup in 2026 [8][9]. - The company recognizes that most consumer spending in Chinese cities occurs after 6 PM, particularly in the Greater Bay Area, which is seen as a natural environment for developing the night economy [9][11]. Group 3: Evolving Consumption Patterns - The night economy in China has grown significantly, with its market size increasing from 22.54 trillion yuan in 2018 to 50.25 trillion yuan in 2023, indicating robust consumer potential [11]. - Budweiser China is adapting to changing consumer preferences, where beer is increasingly viewed as a social catalyst rather than just a beverage associated with food [12][15]. Group 4: New Narrative and Brand Strategy - Budweiser China is shifting from traditional marketing narratives to a "fireworks narrative" that emphasizes emotional connections and social experiences [18][20]. - The "Flagship Brand × Super Platform" strategy aims to create a multi-dimensional brand ecosystem that resonates with consumers through immersive experiences and high-frequency interactions [19][20].