On October 2, BUD APAC fell 4.73% in regular trading, trading at HK$5.635 per share, with turnover of approximately HK$50.18 million.

The decline was triggered by a wave of target price cuts from major international investment banks ahead of the company's Q3 earnings release expected in late October. JPMorgan lowered its target price from HK$6.5 to HK$6.0, projecting Q3 organic revenue and EBITDA to decline 11% and 19% YoY respectively — a significant worsening from the 1% and 9% drops in the first half — and expects Q3 net profit to plunge 78% YoY to just US$40 million. Goldman Sachs cut its target to HK$6.9 from HK$7.3, forecasting organic Q3 revenue and EBITDA declines of 10% and 18.1%. Nomura reduced its target to HK$7.8, estimating Q3 revenue and normalized EBITDA to fall 9% and 20% YoY, with weakness likely extending into Q4. Jefferies lowered its target to HK$7.5, projecting China quarterly volumes to drop 16.5% YoY. Persistent weakness in China's on-premise channel, unfavorable weather, and ongoing destocking were cited as key headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)