HK Stock Market Move | BUD APAC (01876) falls nearly 4%; institutions say continued weakness in the domestic market weighs on the company's EBITDA, and its performance may underperform the industry.

BUD APAC (01876) fell nearly 4%, down 3.89% as of press time, at HK$5.685, with turnover of HK$31.3136 million. On the news front, Goldman Sachs noted in a recent research report that BUD APAC will announce its third-quarter results at the end of October, and forecasts that weak industry demand, adverse weather effects, and continued destocking will keep sales in the Chinese market under pressure, with performance likely to underperform the industry. The bank currently forecasts that, on an organic basis, the group's third-quarter revenue and EBITDA will decline by 10% and 18.1%; in US dollar terms, third-quarter reported net profit is expected to reach US$101 million, with recurring net profit of US$142 million, down 45.4% and 30.4% year-on-year respectively.