0503 GMT - Tsingtao Brewery's sales are expected to grow 3.3% in 2025 on likely increases in average selling prices amid product-mix upgrades, China Galaxy International analysts say in a research report. According to the brokerage's channel checks, the Chinese brewery's sales volume increased by low- to mid-single digits on year between January-February. The brokerage cited healthy channel inventory and strong demand during the Lunar New Year holiday period. The brewery's net-profit margin is also expected to widen by 0.6 percentage points in 2025, partly due to likely lower raw material prices.The brokerage raises the stock's target price to HK$61.31 from HK$59.00, with an unchanged add rating. Shares are 2.1% higher at HK$59.50. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 01:03 ET (05:03 GMT)
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