Heineken Logs EUR874M Impairment for Stake in CHINA RES BEER (00291.HK)

　　Heineken noted that it has recorded an impairment loss of EUR874 million due to a decline in the valuation of its stake in CHINA RES BEER (00291.HK) -0.850 (-3.441%) Short selling $33.62M; Ratio 16.290% , and narrowed its full-year natural operating profit growth forecast to between 4% and 8%, after previously forecasting low to high single-digit growth.

　　In 1H24, Heineken's revenue reached EUR17.812 billion, up 5.9% YoY, while operating profit rose 12.5% YoY to EUR2.079 billion, below the market's forecast of 13.2% growth.

　　Related NewsDaiwa Trims CHINA RES BEER (00291.HK) TP to $34, Expects 1H24 Rev., Earnings to Remain Largely Flat YoY

　　CR BEER opened 0.4% higher today (29 July) but receded afterwards, now trading at $24.1, down 2.43%. The company's share price has evaporated nearly 30% this year. Heineken said it had impaired its interest in CR BEER because concerns about consumer demand in China had affected the latter's share price performance.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-29 12:25.)

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