The Zhitong Finance App learned that Budweiser Asia Pacific (01876) fell by more than 2%. As of press release, it was down 1.94% to HK$5.565, with a turnover of HK$24.7952 million.
According to the news, on October 4, Budweiser Asia Pacific announced that for the quarter ended September 30, 2026, the Group carried out internal restructuring involving several mainland Chinese subsidiaries to improve capital efficiency, and is expected to record non-basic withholding tax expenses of about US$52 million; the Group has made provisions of approximately US$30 million based on prudential principles for overdue and outstanding receivables from India's Telangana Government Beverage Company. The year-to-year change is reported as a change in scope, with no impact on endogenous growth. The above matters will have a negative impact on the profit attributable to the Group's equity holders for the three months ending September 30, 2026.
Citigroup released a research report saying that it predicts that the Group's third-quarter sales will drop 7% year on year. The Group's endogenous EBITDA will drop 12% year on year, and maintain the stock's “buy” rating and target price of HK$10.8. In terms of business in China, Citi expects sales to fall 8% year on year, average sales price increase 0.5% year on year, sales fall about 8% year on year, gross profit fall 11% year on year, and endogenous EBITDA fall 13% year on year after normalization. In the Asia-Pacific East (mainly South Korea), sales volume is expected to drop 3% year on year, average sales price drop 2% year on year, sales fall 5% year on year, gross profit drop 7% year on year, and endogenous EBITDA fall 9% year on year after normalization.