The Zhitong Finance App learned that Goldman Sachs released a research report saying that Budweiser Asia Pacific (01876) will announce the third quarter results at the end of October, predicting weak industry demand, adverse weather effects, and continued inventory loss, which will continue to drag down sales in the Chinese market, and performance may be lower than that of the industry. The bank lowered Budweiser Asia Pacific's 2026-2028 recurring net profit forecast by 7% to 12%, and the target price was lowered from HK$7.3 to HK$6.9, maintaining a “buy” rating.

Goldman Sachs expects Budweiser Asia Pacific China's EBITDA pressure to be greater than revenue and gross profit in the third quarter, mainly due to more obvious operating deleveraging, rising sales and marketing expenses due to new channel/new product promotion, and increased distribution expenses driven by the increase in the share of household/O2O and rising oil prices.

The bank currently predicts that according to organic standards, the Group's revenue and EBITDA for the third quarter will drop by 10% and 18.1%; in US dollars, net profit expectations for the third quarter will reach US$101 million and recurring net profit of US$142 million, down 45.4% and 30.4% year-on-year respectively.

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