Budweiser Brewing Co APAC Ltd

01876: XHKG (HKG)

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Budweiser APAC Earnings: China Stays Weak as Expected; We Maintain HKD 11.60 Fair Value Estimate

Ivan Su

Jul 30, 2026

Budweiser APAC's second-quarter organic revenue fell 2.1% year on year, dragged by a 9.7% decline in China volumes, with the company noting that it underperformed an already soft industry backdrop. Management said July trading remained weak, with no clear signs of improvement.

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Budweiser Brewing Co APAC Ltd

Budweiser APAC Earnings: China Stays Weak as Expected; We Maintain HKD 11.60 Fair Value Estimate

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