HK Stock Market Move | BUD APAC (01876) rose by over 4% against the market. New CEO set to take office soon. Institution says the increase in dividend rate after 24 years reflects confidence.

BUD APAC (01876) rose more than 4% against the market, up 2.92% as of press time, to 8.46 Hong Kong dollars, with a turnover of 63.7868 million Hong Kong dollars. On the news front, BUD APAC recently announced its performance for the 2024 fiscal year, with revenue of 6.246 billion US dollars, a decrease of 7% year-on-year, or a decrease of 8.9% according to the reporting standard; net profit attributable to shareholders was 726 million US dollars, a decrease of 14.8% year-on-year according to the reporting standard. Sales volume in 2024 was 84.8 billion liters of beer, a decrease of 8.8% year-on-year, or a decrease of 8.6% according to the reporting standard. The board of directors has recommended a dividend of 750 million US dollars, or 5.66 US cents per share, an increase of 7% over the previous year. EB SECURITIES pointed out that as of April 1, 2025, Chen Yanjun, a Chinese national, will become the new CEO and co-chairman of BUD APAC; the senior management team in China has also undergone a series of personnel adjustments, demonstrating the company's determination to adjust its China business. The primary task of the China team in 2025 is to increase market share. In addition, the company's board of directors recommended a dividend of 750 million US dollars for the 2024 financial year, an increase of 7% year-on-year; the dividend payout ratio for 2024 increased to 103%. Despite a year-on-year decline in profits in 2024, the company's dividends and dividend payout ratio increased year-on-year, demonstrating confidence in the company's development.