Shares of China Resources Beer (Holdings) Company Limited soared 5.05% on Wednesday, with the stock reaching HK$41.95 amid concerns over its lofty valuation compared to industry peers.
The beer company's price-to-earnings (P/E) ratio currently stands at a high 17.4x, significantly above the levels of most other listed firms in Hong Kong. While China Resources Beer has delivered decent earnings growth of 21% over the past three years, its recent performance has been more modest.
Analysts expect the company's earnings to grow by around 12% annually over the next three years, in line with the broader market forecast. However, investors appear more bullish on China Resources Beer's prospects, driving its share price to levels that some experts view as unjustified given the growth outlook.
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