Chongqing Brewery Co Ltd Class A
600132: XSHG (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥16.00 | Kmbpmc | Qxgywpwj |
Chongqing Brewery Earnings: Travel Demand and Channel Recovery Drove Revenue and Profit Growth
Chongqing Brewery delivered in-line first-quarter 2024 results, with revenue and net profit growing 7.2% and 16.8% year on year, respectively. We maintain our fair value estimate of CNY 75 per share, which implies a 24 times 2024 P/E and 3.7% dividend yield. Shares reacted positively after earnings and further converged to our fair value estimate. We think the shares are fairly valued currently.