HK Stock Market Move | BUD APAC (01876) rose more than 13% after the performance report, with a decrease in annual net profit but an increase in dividends. Cheng Yanjun succeeded as CEO.

BUD APAC (01876) rose more than 13% after the performance report, reaching 11.1% at the time of publication, with a price of 8.71 Hong Kong dollars and a turnover of 1.22 billion Hong Kong dollars. On the news front, BUD APAC announced its performance, with revenue for the 2024 fiscal year reaching 6.246 billion US dollars, a decrease of 7% year-on-year on a like-for-like basis, or a decrease of 8.9% according to reported figures; Shareholders' profit attributable was 726 million US dollars, or a 14.8% decrease year-on-year according to reported figures. Beer sales in 2024 totaled 8.48 billion liters, a decrease of 8.8% year-on-year on a like-for-like basis, or a decrease of 8.6% according to reported figures. The board has recommended a dividend payout of 750 million US dollars, or 5.66 US cents per share, an increase of 7% from the previous year. In addition, BUD APAC announced that Johnson Cheng, Global Chief Supply Chain Officer, will succeed Yang Ke as CEO and co-chairman of BUD APAC, effective April 1, 2025. After serving as CEO and co-chairman of BUD APAC for 7 years, Yang Ke will step down and leave after 23 years at AB InBev, seeking other development opportunities.