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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，概不對因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 青島啤酒股份有限公司 （ 於 中 華 人 民 共 和 國 註 冊 成 立 之 中 外 合 資 股 份 有 限 公 司 ） （股份編號：168） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列青島啤酒股份有限公司於中華人民共和國（「中國」）若干報章及上海證券交易所網站 （www.sse.com.cn）刊載之《青島啤酒股份有限公司2025年年度報告摘要》，僅供參閱。 承董事會命 青島啤酒股份有限公司 侯秋燕 執行董事及聯席公司秘書 中國 • 青島 2026年3月26日 青島啤酒股份有限公司於本公告日期的董事： 執行董事： 姜宗祥先生（董事長）、劉富華先生及侯秋燕先生 職工董事： 孫靜女士 獨立非執行董事： 肖耿先生、盛雷鳴先生、張然女士、趙昌文先生及趙紅女士 第一节 重要提示 1、 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 ...

机构：光大证券 白酒业务：在白酒行业深度调整、消费需求场景收缩的背景下，公司白酒业务面临挑战。2025 年白酒 业务实现营业额14.96 亿元。结合市场环境与经营情况，公司对白酒业务计提商誉减值28.77 亿元。若不 计入商誉减值，2025 年白酒业务EBITDA为2.64 亿元。 啤酒毛利率改善及费用优化，推动核心盈利能力提升。公司2025 年整体毛利率为43.1%，同比 +0.5pcts。其中，啤酒业务受益于高端化发展和原材料采购成本节约，2025 年毛利率同比+1.4pcts 至 42.5%。费用投放方面，2025 年销售及分销费用率为20.3%，同比-1.4pcts；行政及其他费用率为8.3%， 同比-0.2pcts，费用管控效果显现。由于公司计提白酒商誉减值，25 年归母净利率为8.9%，同 比-3.4pcts。 2025 年公司关停4 间啤酒厂，并投入运营1 间位于深圳的智慧精酿工厂，截至2025年底共营运59 间啤酒 厂，年产能约1910 万千升。若扣除因产能优化所产生的固定资产减值和一次性员工补偿及安置费用约 3.06 亿元、投资搬迁协议确认的收益约10.05 亿元以及白酒业务商誉减值28.7 ...

Irwin Simon, who famously pivoted to legal weed after making a name for himself building an herbal tea empire, is expanding his company’s beer offerings.Tilray Brands, where he is CEO, recently snatched up UK-based BrewDog for a cool $53 million – a far cry from the $2 billion valuation it had at its peak.The deal marks the latest turnaround effort for Simon, who spent years running brands like Celestial Seasonings under the Hain Celestial Group before venturing into pot, beer and “wellness” foods. 5 Tilr ...

作者丨陈欣 出品丨鳌头财经 3月23日，华润啤酒（00291.HK）发布财报显示，公司2025年实现综合营业额为379.85亿元，于"十四五"期间（较2020年314.48亿元）增加65.37亿元。同 期，扣除特别事项后，公司股东应占溢利达57.24亿元，同比提升19.6%。 稳健的业绩之下，华润啤酒2025年的经营活动现金流入净额同比提升2.9%至71.27亿元，充分体现业务价值创造能力，为股东回报提供坚实基础。 2025年每股派息1.021元，同比提升34.3%，派息比率提升至98.2%，与股东分享经营成果。若不计入白酒业务商誉减值的影响，公司的派息比率从2024年的 52%提高至2025年的53%。 纵观2025年，华润啤酒通过"高端化战略持续发力""多品类布局持续拓展"和"新消费渠道持续领跑"三大引擎，驱动企业实现业绩稳健增长，在激烈的市场竞 争中成功构筑起差异化竞争优势，进一步巩固了其在我国啤酒行业第一的地位。 量增利厚+品质升级，高端化战略持续发力 2025年，我国啤酒行业告别过去依赖规模扩张的增长模式，步入"量稳质升"高质量发展新阶段。 其中，中高端啤酒产品的增长，源于我国近年来消费结构的升级浪 ...

Watt stepped down as CEO later that year. His replacement James Arrow left under a year later. Watt’s fellow co-founder Martin Dickie announced his exit from the business in August last year.In January 2024, it emerged the company was to stop paying some of its hospitality staff the UK’s so-called real living wage to tackle increased costs.An open letter , posted online under the name ‘Punks With Purpose’ and signed by 76 former employees, claimed BrewDog was built around a “cult of personality” of Watt and ...

London, UK, March 18, 2026 (GLOBE NEWSWIRE) -- Optimum has been selected by Asahi Europe & International (AEI) as its ERP training partner for its major SAP S/4HANA transformation programme, Project Odyssey. The initiative will support AEI’s move from SAP ECC 6 to SAP S/4HANA, providing a standardised regional template for core business processes across Europe. Optimum logo Project Odyssey will span ten countries, including the UK, Czechia, Poland, Slovakia, Romania, Germany, Italy, Hungary and the Netherl ...

Core Concept - Truly Hard Seltzer is launching an open casting call for a reality TV miniseries titled Truly Unscripted: Spring Break, offering one friend group an all-expenses-paid getaway to star in their own show [2][3]. Group 1: Casting Call Details - The casting call invites friend groups nationwide to submit their applications, explaining why they deserve to be featured and what drama they can bring [3]. - The winning group will enjoy a weekend at a beach house in Florida from April 16 to 19, with a full production crew documenting their experience [3]. - The resulting miniseries will be released as a three-part series on YouTube, showcasing the group's adventures [3]. Group 2: Promotion and Marketing - Reality TV star JaNa Craig is partnering with Truly to promote the casting call, leveraging her experience to engage potential participants [4]. - Matt Withington, senior director of marketing at Truly, emphasizes the synergy between Truly, spring break, and friend groups, suggesting that the combination will yield entertaining content [5]. - Participants are encouraged to share their casting videos on social media platforms like TikTok and Instagram using the hashtag TrulyUnscripted [11]. Group 3: Product Offerings - Truly is promoting its Party Pack and the new Truly Paradise Pack, which includes various flavors aimed at enhancing the spring break experience [5]. - The Party Pack features flavors such as Citrus Squeeze, Pineapple, Watermelon, and Raspberry, while the Paradise Pack includes Mango Tango, Pineapple Plunge, Blood Orange Breeze, and Passionfruit Orange Guava [5]. Group 4: Company Background - Truly Hard Seltzer, established in 2016, is recognized as a pioneer in the hard seltzer category, focusing on providing innovative and enjoyable alcoholic beverages [7]. - The brand aims to cater to diverse consumer preferences with a range of flavors and styles, including high-ABV options and seasonal releases [7]. Group 5: Parent Company Information - The Boston Beer Company, founded in 1984, is a major player in the craft brewing industry, known for its high-quality products and innovation in various beverage categories, including hard seltzer [8]. - The company has a portfolio that includes well-known brands such as Samuel Adams, Angry Orchard, and Dogfish Head, and operates taprooms in several states [8].

Group 1 - Heineken Holding N.V. is executing a share buyback program with a total value of approximately €750 million, of which the second tranche is up to €375 million [1][2] - As of March 13, 2026, a total of 331,601 shares have been repurchased under the second tranche for a total consideration of €23,144,241, with an average price of €65.96 per share [2] - The company provides weekly updates on the progress of the share buyback program on its website [2] Group 2 - Heineken Holding N.V. primarily engages in managing its interest in Heineken N.V. and offers services to that company [4] - Heineken is recognized as a leading global beer company, with a diverse portfolio of over 340 brands, including premium and non-alcoholic options [4] - The company emphasizes sustainability through its "Brew a Better World" initiative and maintains a strong presence in both developed and developing markets [4]

Core Viewpoint - China Resources Beer is expected to achieve a net profit of 2.92-3.35 billion yuan in 2025, representing a year-on-year decline of 29.6%-38.6% [1] - The company anticipates a net loss of 2.407-2.837 billion yuan in H2 2025, marking a shift from profit to loss [1] Group 1: Financial Performance - The decline in net profit for 2025 is primarily due to the recognition of goodwill impairment of 2.79-2.97 billion yuan, stemming from the acquisition of a 55.19% stake in Guizhou Jinsha Distillery in January 2023, amid weak demand in the liquor market [1] - Excluding the impact of goodwill impairment, the company expects to achieve an operating net profit of 5.89-6.14 billion yuan in 2025, reflecting a year-on-year growth of 23.8%-29.0% [1] - The anticipated operating net profit for H2 2025 is projected to be 133-383 million yuan, indicating a significant year-on-year increase of 412%-1373% [1] Group 2: Strategic Initiatives - The company is actively embracing new consumption channels, having established strategic partnerships with platforms like Meituan Flash Purchase and Yima Delivery, and plans to launch an exclusive product "Snow Beer Whole Wheat White Beer" in December 2025 [2] - The beer sales are expected to achieve low single-digit growth in 2025, outperforming the industry, with Heineken expected to see double-digit growth [2] - In 2026, the company aims to maintain low single-digit growth in beer sales, focusing on differentiated products such as fruit beer, specialty wheat beer, and tea beer, which are anticipated to support the high-end strategy [2] Group 3: Profit Forecast and Valuation - The company's net profit forecast for 2025 has been revised down to 3.125 billion yuan, a 47% reduction from previous estimates, while the forecasts for 2026 and 2027 remain at 5.968 billion yuan and 6.334 billion yuan respectively [3] - The current stock price corresponds to a PE ratio of 24x for 2025, 13x for 2026, and 12x for 2027 [3] - The company is viewed positively for its clear high-end development strategy and the potential growth of its mid-to-high-end products and liquor business, maintaining a "buy" rating [3]