(the ''Company'') (A joint stock company incorporated in the People's Republic of China with limited liability) WARNING The publication of this announcement is required by The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') and the Securities and Futures Commission (the ''Commission'') solely for the purpose of providing information to the public in Hong Kong. By viewing this announcement, you acknowledge, accept and agree with the Company, its joint sponsors, sponsor-overall coordinators, over ...

Leadership Change - Heineken CEO Dolf van den Brink is stepping down after nearly six years, with his departure effective at the end of May, transitioning to an advisory role for eight months [1][3] - The board has initiated a search for a successor, marking a break from tradition as there is currently no named successor [4] Financial Performance - Heineken is expected to report a 2% to 3% drop in beer volumes in its upcoming full-year earnings report, following a warning in October about annual profit growth being at the lower end of the 4% to 8% forecast range [2] - The company's stock has declined over 25% in the past five years, indicating underperformance compared to rivals [7] Strategic Initiatives - During van den Brink's tenure, Heineken faced historic cost inflation and implemented a cost-cutting and restructuring program to protect margins [4] - The company has focused on marketing beer as a social connector to counter the trend of alcohol moderation among consumers [7] - Heineken has made significant acquisitions in emerging markets, including India, South Africa, and Central America, expanding its footprint beyond Europe [8]

Group 1 - Heineken is undergoing a leadership transition as CEO Dolf van den Brink will leave the company at the end of May after nearly six years, coinciding with a significant reorganization plan to address a prolonged slump in the beer market [3][7] - The company announced plans to cut 400 jobs at its global headquarters in Amsterdam to adapt to a "dynamic beer market," indicating a strategic shift in operations [3][5] - Heineken's third-quarter revenue remained flat, with beer volumes decreasing by more than 4%, highlighting ongoing challenges in the industry [5] Group 2 - Van den Brink has been with Heineken for over 28 years, holding various leadership roles, and will continue to support the company in an advisory capacity for eight months after his departure [4][7] - The restructuring includes scaling the Heineken Business Services unit and implementing a multiyear digital backbone program to enhance operations across 70 markets [5]

Core Insights - Heineken CEO Dolf van den Brink will step down on May 31 after nearly six years in leadership, having led the company since June 2020 [1][2] - The supervisory board will begin the search for a successor, respecting van den Brink's decision to transition leadership as the company prepares for the next phase of its EverGreen strategy [2][3] Leadership Transition - Van den Brink believes this is the right moment for a leadership transition as Heineken has reached a stage in its transformation that requires new leadership to execute long-term ambitions [3] - Heineken's supervisory board chairman expressed gratitude for van den Brink's leadership during a demanding period of transformation and navigating a challenging external environment [6] Strategic Focus - Under van den Brink's leadership, Heineken has been steering through turbulent economic and political times while implementing the EverGreen Strategy 2030 [2][4] - The company aims to accelerate digital transformation and focus on winning in the market, prioritizing a selection of global and local brands in 17 markets over the next five years [4] Recent Developments - In September, Heineken announced its largest M&A transaction in four years, a $3.2 billion deal for various beer, soft drinks, and retail assets in Central America, marking the biggest deal since acquiring stakes in South Africa's Distell and Namibia Breweries [5] - Van den Brink will continue to support the company in an advisory capacity for eight months following his departure [5]

Core Insights - Anheuser-Busch InBev SA/NV (NYSE:BUD) is considered one of the most undervalued blue chip stocks currently available for investment [1] Group 1: Analyst Sentiment - Approximately 90% of analysts maintain a bullish outlook on Anheuser-Busch, with a consensus price target of $75.00, indicating a potential upside of 17.60% [2] - Analysts' confidence is bolstered by the company's recent operational initiatives, including significant investments in brewing capacity [3] Group 2: Operational Developments - The company plans to invest $30 million in its Jacksonville brewery and can plant to expand capacity for popular brands like Michelob Ultra, which has become the leading brand by volume in 2025 [3] - Anheuser-Busch will reacquire a 49.9% stake in its U.S. container plants for approximately $3 billion, regaining full economic exposure to seven plants across six states, which is expected to enhance profits and supply security [4]

Core Insights - AB InBev has entered into an exclusive partnership with Live Nation in the UK, becoming the sole beer and cider partner for various festivals, venues, and outdoor shows, connecting its brands to millions of music fans of legal drinking age [1][5] Group 1: Partnership Details - The partnership includes major events such as the Reading & Leeds Festival and TRNSMT, as well as over 20 festivals and all Academy Music Group venues, including O2 Academy Brixton and O2 Shepherd's Bush Empire [2] - AB InBev's brands, including Budweiser, Corona, and Stella Artois, will be prominently featured, enhancing the live music experience for fans [4] Group 2: Marketing Strategy - The collaboration aims to integrate AB InBev's beverages into the live music culture, with a focus on creating memorable experiences through immersive activities and digital engagement [4] - The partnership builds on a long-standing relationship between AB InBev and Live Nation, which has previously reached millions of fans globally [3][5] Group 3: Company Background - AB InBev is a publicly traded company based in Belgium, with a diverse portfolio of over 500 beer brands, including global and local favorites [6] - The company reported a revenue of 59.8 billion USD for 2024, excluding joint ventures and associates [6]

Heineken (HEINY) CEO Dolf van den Brink has informed the supervisory board of his decision to step down from his position on May 31, 2026, the company reported on Monday. After nearly six years leading Heineken (HEINY) and steering ...

Core Viewpoint - The company reported a cumulative operating revenue of 3.174 billion yuan and a net profit of 742 million yuan for the first three quarters of 2025, indicating resilience in a challenging industry environment [1] Group 1: Financial Performance - Cumulative operating revenue reached 3.174 billion yuan [1] - Net profit amounted to 742 million yuan [1] Group 2: Strategic Initiatives - The company is focusing on market, brand, and efficiency improvements to navigate industry challenges [1] - Marketing efforts include supporting distributors and expanding both domestic and international markets [1] - Cultural initiatives aim to enhance brand and corporate culture [1] - Management is advancing digitalization and excellence performance evaluation [1] - The company is providing growth opportunities for core technical talents [1] Group 3: Shareholder Returns and Governance - The company is committed to cash dividends, planning to distribute no less than 30% of the annual distributable profits over the next three years [1] - Multiple projects are being advanced to strengthen investor communication and improve governance structures [1] - There is a focus on reinforcing the responsibilities of the "key minority" [1]

Core Viewpoint - Heineken N.V. CEO Dolf van den Brink will step down on 31 May 2026, marking a transition in leadership as the company prepares for the next phase of its EverGreen strategy [1][2]. Group 1: Leadership Transition - Dolf van den Brink has decided to resign after nearly six years as CEO, during which he led the company through significant economic and political challenges [1]. - The Supervisory Board respects Dolf's decision and will begin the search for a successor, while Dolf will remain available in an advisory role for eight months post-resignation [1][3]. - Dolf emphasized that the timing is right for leadership transition to support the execution of the company's long-term ambitions [2]. Group 2: Strategic Focus - The company is currently focused on executing the EverGreen 2030 strategy, which aims to further the company's growth and transformation [2][3]. - The Supervisory Board expressed gratitude for Dolf's leadership during a demanding transformation period and highlighted the importance of disciplined execution of the new strategy [3].

Core Insights - The stock of Carlsberg has remained flat since the previous article was published, despite experiencing a 35% share increase at one point [1] Group 1: Company Overview - Carlsberg is highlighted as a focus for investment opportunities in the European small-cap space, emphasizing a mix of dividend and growth stocks [1] - The investment group European Small Cap Ideas, led by The Investment Doctor, provides exclusive research on appealing Europe-focused investment opportunities [1] Group 2: Investment Strategy - The investment strategy includes two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, aimed at capital gains and dividend income [1] - Weekly updates and educational content are provided to enhance understanding of European investment opportunities [1]