CITIC International lowered the target price of CR BEVERAGE to 11.87 yuan, maintaining a "Buy" rating

CMB International published a research report, expecting CR BEVERAGE (02460.HK) to see a 35.5% decrease in net profit for the fiscal year 2025 to RMB 1.06 billion, with a larger decline in the second half, due to the impact of signing large marketing contracts and increasing supply chain investments.

However, the bank pointed out that CR BEVERAGE has several favorable factors, including the expectation that the new chairman will implement significant reforms, frontline sales personnel may receive more positive incentives, and the company may consider increasing the dividend payout ratio.

The bank expects CR BEVERAGE to recover as early as 2026, maintaining a "Buy" rating, but lowering the target price by 8%, from HKD 12.85 to HKD 11.87, to reflect profit revisions. The bank also suggested that investors closely monitor the upcoming performance announcement, which is expected to provide a good buying opportunity