CCB International published a research report stating thatbaccarateyeBudweiser Asia-Pacific's first-quarter results in 2024 are generally in line with expectations. Sales are expected to rebound moderately in the second quarter, and sales are expected to grow by 1.5%.baccarateye.2% and average selling price increase by 2baccarateye.2%baccarateyeDriven by, Budweiser Asia Pacific's revenue in the second quarter of 2024 will increase by 3.4%. Although sales growth is gradually picking up, the bank lowered its average selling price and sales growth forecast for the second quarter of 2024 from the middle single digits to the low single digits due to slower-than-expected progress of high-end upgrading and sluggish consumption.

CCB International lowered its 2024 and 2025 EBITDA forecasts by 2% and 4% respectively, mainly considering the reduction in average selling prices and sales growth in the 2024 fiscal year amid weak market demand and slower-than-expected progress of high-end upgrading. The bank lowered its corporate price target from HK$14.8 to HK$11.5, and its rating was downgraded from "outperform the market" to "neutral".