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Cailianshe News, August 19 (Reporter Zhu Wanping)Due to the high base, heavy rainfall in the domestic layout areas, weak consumption and other factors, China Resources Beer (0291.HK) had a turnover of 23.744 billion yuan in the first half of the year, a slight decrease of 0.5%, and a net profit of 4.71 billion yuan, a slight increase of 1.2%. Hou Xiaohai, chairman of the board of directors of China Resources Beer, admitted at the company's performance exchange meeting held this afternoon that if nothing unexpected happens, the company's beer sales are expected to continue to grow in the low single digits throughout the year.

The financial report shows that in the first half of this year, the company's beer business achieved a turnover of 22.566 billion yuan, a year-on-year decrease of 1.43%, and achieved a sales volume of 63.48 million kiloliters, a year-on-year decrease of 3.4%. A senior executive of China Resources Beer said that the company's sales decline was mainly affected by the decline in low-end beer sales, while the sales of second-highest and above beers increased by single digits in the first half of the year, and the sales growth rate of high-end and above beer exceeded 10%.

In the first half of this year, the product structure upgrade and cost reduction of China Resources Beer also pushed the price per ton of China Resources Beer's beer business to 3,555 yuan/kiloliter, a year-on-year increase of 2%, and the gross profit margin of the beer business increased by 0.6 percentage points to 45.8%. "Overall, the company's performance in the first half of this year was in line with our expectations," said a senior executive of China Resources Beer.

Regarding the situation of the beer business in the second half of the year, Hou Xiaohai said that the weather in July this year was not very good and the beer sales performance that month did not meet the company's expectations. Sales have been relatively good since August, "but it is unlikely to achieve sales growth throughout the year," Hou Xiaohai said.