Group 1: Financial Performance - The company reported a revenue of RMB 23.942 billion for the six months ending June 30, 2025, representing a year-on-year increase of 0.83% [1] - The net profit attributable to shareholders was RMB 5.789 billion, a year-on-year increase of 23.04% [1] - The basic earnings per share were RMB 1.78, with an interim dividend proposed at RMB 0.464 per share [1] Group 2: Profitability and Margins - The gross profit margin increased by 2.0 percentage points to a record high of 48.9% due to the high-end beer strategy and cost savings in raw material procurement [1] - The company's unaudited EBITDA and net profit attributable to shareholders reached record highs of RMB 7.691 billion and RMB 5.789 billion, respectively, with year-on-year growth of 20.8% and 23.0% [1] - The beer segment's unaudited EBITDA and net profit attributable to shareholders grew by 13.8% and 17.3% year-on-year [1] Group 3: Beer Business Performance - The company achieved beer sales of approximately 6.487 billion liters in the first half of 2025, a year-on-year increase of 2.2% [1] - High-end beer products continued to perform well, with sales of premium and above beer increasing by over 10% year-on-year [1] - Notable brands such as "Heineken®" saw sales growth exceeding 20%, "Snow" experienced over 70% growth, and "Red爵" sales doubled compared to the same period last year [1] Group 4: Liquor Business Performance - The liquor business reported an unaudited revenue of RMB 0.781 billion in the first half of 2025, with the major product "摘要" contributing nearly 80% of this revenue [2] - The gross profit margin for the liquor business remained stable, with unaudited EBITDA of RMB 0.218 billion [2]

展望2025年下半年，面对消费波动的时代，集团将持续践行「决胜高端、卓越发展」战略，持续洞察消 费新趋势，敏捷回应满足消费新需求，进一步推动「精简、精益、精细」策略落地，深入践行「啤白双 赋能」战略，通过创新的营销模式和产品理念提升集团的竞争地位，引领行业发展。 董事会议宣派付中期股息每股人民币0.464元，较去年同期增长24.4%，与股东分享成果。 集团的啤酒业务于2025年上半年营业额为人民币231.61亿元，同比增长2.6%。持续的高端化发展带动平 均销售价格同比上升0.4%，以及原材料采购成本的节约，推动2025年上半年啤酒业务毛利率同比上升 2.5个百分点至48.3%。 白酒业务方面，面对行业深度调整，集团白酒业务于2025年上半年营业额人民币7.81亿元，大单品「摘 要」贡献白酒业务营业额接近八成。集团白酒业务于2025年上半年的毛利率基本持平，未计利息、税 项、折旧及摊销前盈利为人民币2.18亿元。 格隆汇8月19日丨华润啤酒(00291.HK)公布，2025年上半年，集团综合营业额为人民币239.42亿元，同 比增长0.8%。受益于啤酒业务高端化战略的持续发展和原材料采购成本的节约，2025年 ...