Group 1 - The core announcement is that Ignacio Lares will resign as Chief Financial Officer of Budweiser APAC, effective April 1, 2026 [1] - Bernardo Novick has been appointed as the new Chief Financial Officer of Budweiser APAC, also effective April 1, 2026 [1]

（股份代號：1876） 首席財務官變更 百威亞太控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，Ignacio Lares （「Lares先生」）已決定卸任本公司首席財務官一職，自2026年4月1日起生效。 Lares先生已在本公司及其母公司Anheuser-Busch InBev SA/NV（「百威集團」）任職 18年。Lares先生確認，彼與董事會並無任何意見分歧，且並無有關彼辭任之事宜 須提請本公司股東垂注。 董事會亦欣然宣佈，Bernardo Novick先生（「Novick先生」）已獲委任為本公司首席 財務官，自2026年4月1日起生效。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Budweiser Brewing Company APAC Limited 百威亞太控股有限公司 （於開曼群島註冊成立的有限公司） Novick先生於過去16年間，一直任職於百威集團相關公司，職能涉及財務、採 購、銷售及物流等領域。在此期間，彼因任職 ...

Core Insights - The closure of the China Resources Snow Beer (Changchun) factory marks the end of an era for the company in Northeast China, with the factory officially deregistered after six years of inactivity [1][3] - China Resources Beer has shut down 36 factories since 2017, resulting in nearly 30,000 layoffs as part of its operational optimization strategy [1][5] Group 1: Company Strategy and Operations - The Changchun factory was part of China Resources Beer's strategic presence in Northeast China, reflecting the company's 30-year development in the region [3] - The company has reduced the number of operational breweries in mainland China from 98 to 62 between 2016 and 2023 as part of its "streamlining" plan [5] - The chairman of China Resources Beer, Hou Xiaohai, explained that the closures were driven by competitors achieving higher profits with fewer employees [6] Group 2: Market Dynamics - The Chinese beer market has shifted from a fragmented landscape to a competitive environment dominated by five major players, including China Resources Snow Beer and Tsingtao Brewery [12] - From 2017 to 2022, the market share of high-end beer products in China increased from 9.66% to 12.61%, with revenue share rising from 30.4% to 36.48% [8] - To address its shortcomings in the high-end market, China Resources Beer acquired Heineken China in April 2019 and established a high-end brand matrix [13] Group 3: Future Developments - Despite the closures, China Resources Beer is not completely exiting Northeast China; a new brewery project in Chaoyang with an annual production capacity of 300,000 kiloliters is under construction, expected to start trial production in October 2025 [10] - This new project is anticipated to generate an annual output value of 1 billion yuan and create 1,000 jobs [10] - The city of Shenyang is actively promoting itself as "China's Beer Capital," with its beer production in 2023 reaching 694,000 kiloliters, accounting for 41.6% of the province's total output [15]

Group 1 - The company Budweiser APAC (01876.HK) announced the grant of a total of 29,388,393 restricted share units to certain eligible employees and directors under its new restricted share unit plan adopted on November 25, 2020, and revised on May 8, 2023 [1] - The grant of restricted share units is scheduled to occur on December 12, 2025 [1] Group 2 - Nelson Jamel will resign from his position as a non-executive director of Budweiser APAC [2]

Core Viewpoint - Budweiser APAC (01876) announced the grant of 29.388 million restricted share units to several eligible employees and directors as part of its new restricted share unit plan adopted on November 25, 2020, and revised on May 8, 2023 [1] Group 1 - The company will issue a total of 29.388 million restricted share units [1] - The issuance is aimed at eligible employees and directors [1] - The plan was initially adopted in November 2020 and revised in May 2023 [1]

格隆汇12月12日丨百威亚太(01876.HK)宣布，于2025年12月12日，公司根据其于于2020年11月25日采纳 并2023年5月8日修订的公司新受限制股份单位计划，向公司若干合资格雇员及董事(「承授人」)合共授 出29,388,393个公司受限制股份单位。 ...

智通财经APP讯，百威亚太(01876)发布公告，于2025年12月12日，公司根据其于2020年11月25日采纳并 于2023年5月8日修订的公司新受限制股份单位计划，向公司若干合资格雇员及董事合共授出2938.8万个 公司受限制股份单位。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Budweiser Brewing Company APAC Limited 百威亞太控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1876） 授出受限制股份單位 百威亞太控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，於2025年 12月12日（「授出日期」），本公司根據其於2020年11月25日採納並於2023年5月8 日修訂的本公司新受限制股份單位計劃（「受限制股份單位計劃」），向本公司若干 合資格僱員及董事（「承授人」）合共授出29,388,393個本公司受限制股份單位（「受 限制股份單位」）。 授出受限制股份單位 本公司謹此提述(i)日期為2023年4月13日的公告、(ii)日期為2023年4月13日的通 函（「通函」）及(iii)日期為2023年5月8日的本公司股東週年大會（「股東週年大會」） 的表決結果公告，當中載有本公司股東（「股東」）批准（其中包括）就可能根 ...

Core Viewpoint - The resignation of Wu Jiawei from the board of directors of Zhujiang Beer due to reaching the legal retirement age will not affect the normal operation of the board or the company's business [2]. Group 1: Board Changes - Wu Jiawei held significant positions in another listed state-owned enterprise, Guangzhou Restaurant Group, indicating his experience and influence [4]. - Following Wu's resignation, there will be a vacancy on the Zhujiang Beer board, which will be filled through the appropriate election process [4]. - The board of Zhujiang Beer has experienced frequent changes in recent years, including the departure of the former non-executive director and vice chairman Cheng Yanjun from Budweiser APAC, and the appointment of new general manager Zhang Yong [4]. Group 2: Strategic Importance - The stability and balance of Zhujiang Beer's board are crucial for navigating the current competitive landscape of the beer industry, which is characterized by stock competition [4]. - The intentions of major shareholder Guangzhou Industrial Investment Holding Group and its concerted actions need to be effectively implemented through the board [4]. - The industry experience and resources of strategic shareholder Budweiser APAC, along with the innovative thinking of the newly introduced management team with cross-industry backgrounds, require effective collaboration at the board level [4]. Group 3: Future Outlook - The new management team at Zhujiang Beer faces the challenge of finding profit growth opportunities in the highly competitive beer market, referred to as the "red sea," while aiming for stable performance growth in the "blue sea" [5].

Core Viewpoint - The Central Economic Work Conference has signaled a strong focus on domestic demand and economic growth, leading to a significant rebound in Hong Kong's stock market, with the Hang Seng Index rising 1.75% to 25,976.79 points [1] Group 1: Market Performance - The Hang Seng Index saw a strong rebound, closing up 1.75% or 446.28 points, with a total trading volume of 242.657 billion HKD [1] - The Hang Seng Technology Index increased by 1.87%, while the Hang Seng China Enterprises Index rose by 1.62% [1] - Despite the daily gains, the Hang Seng Index recorded a weekly decline of 0.42% [1] Group 2: Blue-Chip Stocks - China Life (02628) led blue-chip gains, rising 5.52% to 28.3 HKD, contributing 17.61 points to the Hang Seng Index [2] - Other notable blue-chip performers included Cheung Kong Infrastructure (01038) up 4.55% and ZTO Express (02057) up 4.36% [2] - Some blue-chip stocks like Hengrui Medicine (03692) and Budweiser APAC (01876) experienced declines [2] Group 3: Sector Performance - Large technology stocks, including Tencent and Alibaba, rose over 2%, while Baidu increased by 1.78% [3] - Electric equipment stocks performed strongly, with Dongfang Electric rising over 13% [3] - The consumer sector was active, with companies like Tea Baidao (02555) and Haidilao (06862) showing significant gains [4] Group 4: Economic Policies - The Central Economic Work Conference emphasized the importance of domestic demand and outlined policies to boost consumption and urban renewal [5] - Investment strategies are shifting towards survival-type consumption, compensatory consumption, and defensive stocks [5] Group 5: Financial Sector - Brokerages and insurance stocks saw afternoon gains, with China Galaxy (06881) up 6.97% and China Life (02628) up 5.52% [6] - Regulatory changes are expected to allow insurance companies to increase their equity asset allocations [6] Group 6: Notable Stock Movements - Zhaoyan New Drug (06127) surged 19.75% amid supply shortages in the monkey breeding industry [7] - YTO Express (00038) rose 11.39% due to favorable conditions in agricultural modernization [8] - Conant Optical (02276) increased by 10% as production capacity for AI glasses is set to ramp up [9] - QZ Group (00917) rose 8.17% following a share buyback announcement [10] - ZTE Corporation (00763) gained 4% after announcing a share repurchase plan [11]