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China Resources Beverage (Holdings) Company Limited
(2460)
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Rating:71Outperform
Price Target:
HK$8.50
▼(-4.60% Downside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by solid overall financial quality (very strong balance sheet and still-healthy profitability) but held back by weak and volatile free-cash-flow conversion and signs of recent revenue/margin instability. Valuation is a supportive factor due to the high dividend yield and reasonable P/E, while technicals are only moderately constructive given longer-term trend weakness.
Positive Factors
Very strong balance sheet
Extremely low leverage and materially grown equity provide durable financial flexibility. This cushion limits refinancing risk, supports sustained capex or M&A, and underpins the company’s ability to withstand demand cycles, preserving strategic optionality over the next 2–6 months and beyond.
Negative Factors
Volatile and weak free cash flow
Frequent negative or highly variable free cash flow reduces the firm's ability to self-fund growth, sustain dividends, or absorb shocks. Over several quarters this constraint can force either higher external funding or cuts to reinvestment, weakening long-term operational flexibility despite positive operating cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet
Extremely low leverage and materially grown equity provide durable financial flexibility. This cushion limits refinancing risk, supports sustained capex or M&A, and underpins the company’s ability to withstand demand cycles, preserving strategic optionality over the next 2–6 months and beyond.
Read all positive factors
China Resources Beverage (Holdings) Company Limited (2460) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$17.29B
Dividend Yield5.44%
Average Volume (3M)1.07M
Price to Earnings (P/E)19.6
Beta (1Y)0.68
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees11,374
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.40
Shares Outstanding2,398,196,500
10 Day Avg. Volume1,322,687
30 Day Avg. Volume1,065,831
Financial Highlights & Ratios
PEG Ratio-0.46
Price to Book (P/B)2.02
Price to Sales (P/S)2.02
P/FCF Ratio1.37K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$8.93Price Target Upside0.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.37
Revenue Forecast (FY)HK$10.44B
China Resources Beverage (Holdings) Company Limited Business Overview & Revenue Model
Company Description
China Resources Beverage (Holdings) Co., Ltd. operates as an investment holding firm, primarily focusing on the manufacturing and distribution of bottled water and a variety of non-alcoholic refreshments. The company was established on July 4, 199...
How the Company Makes Money
The company primarily makes money by selling branded packaged beverages, generating revenue when its products are sold to distributors, retailers, and other customers across its sales network. Key revenue streams are product sales from (1) package...
China Resources Beverage (Holdings) Company Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.72B | 13.52B | 13.51B | 12.62B | 11.34B |
| Gross Profit | 4.90B | 6.40B | 6.04B | 5.26B | 4.97B |
| EBITDA | 1.99B | 2.80B | 2.38B | 1.70B | 1.48B |
| Net Income | 959.84M | 1.64B | 1.33B | 989.81M | 858.14M |
Balance Sheet | |||||
| Total Assets | 15.40B | 18.69B | 13.00B | 10.60B | 9.09B |
| Cash, Cash Equivalents and Short-Term Investments | 6.40B | 10.65B | 4.37B | 2.80B | 1.89B |
| Total Debt | 43.03M | 56.68M | 35.99M | 27.55M | 32.70M |
| Total Liabilities | 4.08B | 6.83B | 5.63B | 4.71B | 4.50B |
| Stockholders Equity | 10.73B | 11.30B | 6.90B | 5.57B | 4.58B |
Cash Flow | |||||
| Free Cash Flow | 15.84M | -590.97M | -593.56M | -14.42M | 512.51M |
| Operating Cash Flow | 1.51B | 1.39B | 1.72B | 844.93M | 827.19M |
| Investing Cash Flow | -2.09B | -2.97B | -2.09B | 1.22M | 681.95M |
| Financing Cash Flow | -3.83B | 5.16B | -60.60M | -21.20M | -19.47M |
China Resources Beverage (Holdings) Company Limited Technical Analysis
Negative
8.91
Price Trends
7.45
Negative
7.60
Negative
8.56
Negative
Market Momentum
-0.07
Positive
41.32
Neutral
17.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2460, the sentiment is Negative. The current price of 8.91 is above the 20-day moving average (MA) of 7.37, above the 50-day MA of 7.45, and above the 200-day MA of 8.56, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 41.32 is Neutral, neither overbought nor oversold. The STOCH value of 17.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2460.
China Resources Beverage (Holdings) Company Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$89.66B | 17.32 | 33.74% | 5.59% | 25.28% | ― | |
77 Outperform | HK$73.38B | 10.67 | 25.76% | ― | ― | ― | |
74 Outperform | HK$25.38B | 105.13 | 9.12% | 1.33% | -13.68% | -19.91% | |
74 Outperform | HK$445.14B | 22.33 | 44.39% | 2.86% | 26.71% | 31.59% | |
71 Outperform | HK$17.29B | 19.56 | 7.15% | 5.44% | ― | ― | |
71 Outperform | HK$31.01B | 12.71 | 16.17% | 7.38% | 3.65% | 4.00% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
HK:2460
China Resources Beverage (Holdings) Company Limited
7.19
-3.42
-32.23%
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Eastroc Beverage (Group) Co. Ltd. Class H
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-45.22%
China Resources Beverage (Holdings) Company Limited Corporate Events
China Resources Beverage Unveils HK$530 Million Share Buyback Plan
Jun 30, 2026
China Resources Beverage has launched a share repurchase plan under its existing shareholder-approved mandate, authorizing on-market buybacks of up to HK$530 million worth of shares until the next annual general meeting. All repurchased shares wil...
China Resources Beverage Sets Indicative Dividend Floor for 2026–2028
Jun 23, 2026
China Resources Beverage (Holdings) Company Limited has introduced a dividend plan that targets an aggregate payout of no less than RMB0.37 per share annually for each financial year from 2026 to 2028. The plan covers interim, final and potential ...
China Resources Beverage Shareholders Approve Dividends, Board Mandates at AGM
Jun 1, 2026
Shareholders of China Resources Beverage (Holdings) Company Limited have overwhelmingly approved all resolutions at the annual general meeting held on June 1, 2026, including the adoption of the 2025 audited financial statements. They also backed ...
China Resources Beverage Updates Final 2025 Dividend Details and Payment Terms
Jun 1, 2026
China Resources Beverage (Holdings) Company Limited has updated details of its final dividend for the financial year ended 31 December 2025, declaring a payout of RMB 0.088 per share, with a default payment in Hong Kong dollars at HKD 0.101 per sh...
China Resources Beverage Declares Special Dividend With HKD/RMB Option
Jun 1, 2026
China Resources Beverage has declared a special dividend for the financial year ending 31 December 2025, setting the payout at RMB 0.165 per share, equivalent to HKD 0.189 per share. Shareholders approved the distribution on 1 June 2026, indicatin...
China Resources Beverage Relocates Hong Kong Principal Office to Dah Sing Financial Centre
Jun 1, 2026
China Resources Beverage (Holdings) Company Limited has announced a change to its principal place of business in Hong Kong, effective June 1, 2026, moving its key office to the 40th Floor of Dah Sing Financial Centre in Wanchai. The company stated...
China Resources Beverage Sets Virtual AGM With Dividend Payouts and Share Mandates
May 8, 2026
China Resources Beverage (Holdings) Company Limited has called its 2026 annual general meeting as an online-only event, where shareholders will vote on adopting the 2025 audited financial statements and reports. The board is also asking investors ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.