BOC International: Maintain a target price of HK$31.1 for China Resources Beer (00291.HK) and maintain a "Buy" rating.

Zhong Yin International, as reported by the Wisdom Financial APP, released a research report stating that based on stable average selling prices and low unit sales volume growth, it is expected that the beer business revenue of China Resources Beer (00291.HK) in the first half of the year will increase by a low to mid-single-digit percentage compared to the previous year. With the decrease in capital expenditure, the bank expects the dividend payout ratio for 2025, 2026, and 2027 to be 60%, 65%, and 70% respectively. The bank maintains a "buy" rating with a target price of 31.1 Hong Kong dollars.