CHINA RESOURCES BEVERAGE (HOLDINGS) COMPANY LIMITED

Cash flow China Resources Beverage (Holdings) Company Limited

Stocks

2460

KYG2135N1060

Non-Alcoholic Beverages

Delayed Hong Kong S.E. Other stock markets 08:10:42 13/07/2026 am IST			5-day change	1st Jan Change
7.270 ^HKD	+0.97%		-6.44%	-27.73%

24/06	China Resources Beverage Company Limited Provides Dividend Plan for Each of the Financial Years from 2026 to 2028	CI
24/06	China Resources Beverage Sets Dividend Target for Next Three Years	MT

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Published financial data: CHINA RESOURCES BEVERAGE (HOLDINGS) COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.13TCr	1.26TCr	1.35TCr	1.35TCr	1.1TCr
Total Revenues	1.13TCr	1.26TCr	1.35TCr	1.35TCr	1.1TCr
Cost of Goods Sold, Total	636.85Cr	736.37Cr	747.95Cr	712.4Cr	597.68Cr
Gross Profit	497.14Cr	525.91Cr	603.52Cr	639.73Cr	502.53Cr
Selling General & Admin Expenses, Total	401Cr	414.26Cr	438.71Cr	435.4Cr	411.69Cr
Provision for Bad Debts	-94.8L	2.72Cr	38.17L	11.78L	-2L
R&D Expenses	4.9Cr	4.92Cr	6.15Cr	5.34Cr	7.69Cr
Other Operating Expenses, Total	404.95Cr	421.9Cr	445.24Cr	440.86Cr	419.37Cr
Operating Income	92Cr	104.01Cr	158.28Cr	198.87Cr	83Cr
Interest Expense, Total	-17.82L	-16.17L	-4.25Cr	-24.41L	-18.58L
Interest And Investment Income	19Cr	22Cr	26Cr	17Cr	27Cr
Net Interest Expenses	19Cr	22Cr	21Cr	17Cr	27Cr
Currency Exchange Gains (Loss)	-22.01L	28.14L	9L	5L	14.91L
Other Non Operating Income (Expenses)	10Cr	12Cr	9.39Cr	5.88Cr	12Cr
EBT, Excl. Unusual Items	121.23Cr	137.88Cr	189.23Cr	221.31Cr	122.4Cr
Gain (Loss) On Sale Of Investments	-	-	-	1.87Cr	47.5L
Gain (Loss) On Sale Of Assets	-67.8L	-33.65L	-1.38Cr	-1.36Cr	-1.27Cr
Other Unusual Items	-	-	-	54.42L	-
EBT, Incl. Unusual Items	120.55Cr	137.54Cr	187.84Cr	222.37Cr	121.61Cr
Income Tax Expense	35Cr	39Cr	55Cr	56Cr	21Cr
Earnings From Continuing Operations	86Cr	99Cr	133.14Cr	166.08Cr	100.85Cr
Net Income to Company	86Cr	99Cr	133.14Cr	166.08Cr	100.85Cr
Minority Interest	-	10.87L	-20.29L	-2.41Cr	-2.31Cr
Net Income - (IS)	86Cr	99Cr	132.93Cr	163.67Cr	99Cr
Net Income to Common Incl Extra Items	86Cr	99Cr	132.93Cr	163.67Cr	99Cr
Net Income to Common Excl. Extra Items	86Cr	99Cr	132.93Cr	163.67Cr	99Cr
Per Share Items
Net EPS - Basic	0.43	0.49	0.66	0.79	0.41
Basic EPS - Continuing Operations	0.43	0.49	0.66	0.79	0.41
Basic Weighted Average Shares Outstanding	200Cr	200Cr	200Cr	207.31Cr	239.82Cr
Net EPS - Diluted	0.43	0.49	0.66	0.79	0.41
Diluted EPS - Continuing Operations	0.43	0.49	0.66	0.79	0.41
Diluted Weighted Average Shares Outstanding	200Cr	200Cr	200Cr	207.32Cr	239.82Cr
Normalized Basic EPS	0.38	0.43	0.59	0.66	0.31
Normalized Diluted EPS	0.38	0.43	0.59	0.66	0.31
Dividend Per Share	-	-	-	0.31	0.21
Payout Ratio	-	-	-	-	386.64
Supplemental Items
EBITDA	117.05Cr	134.31Cr	202.35Cr	253.44Cr	162.56Cr
EBITA	92Cr	104.01Cr	158.28Cr	198.87Cr	83Cr
EBIT	92Cr	104.01Cr	158.28Cr	198.87Cr	83Cr
EBITDAR	117.3Cr	134.4Cr	202.48Cr	253.58Cr	162.68Cr
Effective Tax Rate - (Ratio)	28.81	28.12	29.12	25.31	17.07
Current Domestic Taxes	35Cr	39Cr	41Cr	53Cr	35Cr
Total Current Taxes	35Cr	39Cr	41Cr	53Cr	35Cr
Deferred Domestic Taxes	-41.81L	-12.76L	14Cr	3.22Cr	-15Cr
Total Deferred Taxes	-41.81L	-12.76L	14Cr	3.22Cr	-15Cr
Normalized Net Income	76Cr	86Cr	118.06Cr	135.9Cr	74Cr
Interest on Long-Term Debt	17.82L	16.17L	14.63L	10.67L	12.9L
Supplemental Operating Expense Items
Marketing Expenses	104.66Cr	96Cr	107.42Cr	-	-
Selling and Marketing Expenses	375.67Cr	387.76Cr	408.65Cr	405.84Cr	377.9Cr
General and Administrative Expenses	25Cr	27Cr	30Cr	30Cr	34Cr
Research And Development Expense From Footnotes	4.9Cr	4.92Cr	6.15Cr	5.34Cr	7.69Cr
Net Rental Expense, Total	24.89L	9L	13.38L	14.01L	12.37L
Imputed Operating Lease Interest Expense	-	4L	1.43Cr	2L	1L
Imputed Operating Lease Depreciation	-	5L	-1.3Cr	11.57L	11.36L

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	168.28Cr	250.76Cr	207.47Cr	570.08Cr	117.35Cr
Short Term Investments	21Cr	29Cr	229.74Cr	494.66Cr	521.88Cr
Total Cash And Short Term Investments	189.04Cr	279.99Cr	437.21Cr	1.06TCr	639.23Cr
Accounts Receivable, Total	27Cr	24Cr	23Cr	29Cr	29Cr
Other Receivables	35Cr	45Cr	54Cr	51Cr	56Cr
Notes Receivable	393.14Cr	353.66Cr	-	-	-
Total Receivables	455.34Cr	422.43Cr	77Cr	80Cr	86Cr
Inventory	41Cr	59Cr	38Cr	50Cr	40Cr
Other Current Assets, Total	34Cr	1.81Cr	3.9Cr	1.32Cr	2.2Cr
Total Current Assets	719.91Cr	763.05Cr	555.8Cr	1.2TCr	767.03Cr
Gross Property Plant And Equipment	322.01Cr	439.8Cr	757.63Cr	921.06Cr	1.02TCr
Accumulated Depreciation	-165.46Cr	-192.62Cr	-224.86Cr	-270.85Cr	-336.8Cr
Net Property Plant And Equipment	156.54Cr	247.18Cr	532.77Cr	650.22Cr	679.35Cr
Long-term Investments	-	-	157.71Cr	-	67Cr
Deferred Tax Assets Long-Term	26Cr	31Cr	24Cr	9.18Cr	19Cr
Other Long-Term Assets, Total	6.71Cr	19Cr	30Cr	14Cr	6.49Cr
Total Assets	908.84Cr	1.06TCr	1.3TCr	1.87TCr	1.54TCr
Liabilities
Accounts Payable, Total	39Cr	56Cr	82Cr	63Cr	32Cr
Accrued Expenses, Total	306.49Cr	284.38Cr	255.93Cr	178.32Cr	185.23Cr
Current Portion of Long-Term Debt	-	-	-	60.35L	9L
Current Portion of Leases	1.59Cr	1.72Cr	1.62Cr	1.41Cr	1.34Cr
Current Income Taxes Payable	2.9Cr	3.34Cr	76.7L	1.94Cr	17Cr
Unearned Revenue Current, Total	27Cr	25Cr	14Cr	19Cr	27Cr
Other Current Liabilities	42Cr	63Cr	164.89Cr	368.06Cr	97Cr
Total Current Liabilities	418.58Cr	432.94Cr	518.84Cr	632.2Cr	359.56Cr
Long-Term Debt	-	-	-	14Cr	14Cr
Long-Term Leases	1.68Cr	1.04Cr	1.98Cr	2.54Cr	1.58Cr
Unearned Revenue Non Current	11Cr	13Cr	11Cr	14Cr	17Cr
Deferred Tax Liability Non Current	19Cr	24Cr	31Cr	20Cr	15Cr
Total Liabilities	450.45Cr	470.91Cr	562.9Cr	683.3Cr	407.51Cr
Common Stock, Total	7T	7T	7T	8T	8T
Additional Paid In Capital	-	-	-	521.35Cr	521.35Cr
Retained Earnings	410.36Cr	509.34Cr	642.27Cr	555.94Cr	510.34Cr
Comprehensive Income and Other	48Cr	48Cr	48Cr	53Cr	41Cr
Total Common Equity	458.4Cr	557.38Cr	690.31Cr	1.13TCr	1.07TCr
Minority Interest	-	32Cr	47Cr	56Cr	58Cr
Total Equity	458.4Cr	589.58Cr	737.28Cr	1.19TCr	1.13TCr
Total Liabilities And Equity	908.84Cr	1.06TCr	1.3TCr	1.87TCr	1.54TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	200Cr	200Cr	200Cr	239.82Cr	239.82Cr
ECS Total Common Shares Outstanding	200Cr	200Cr	200Cr	239.82Cr	239.82Cr
Book Value / Share	2.29	2.79	3.45	4.71	4.47
Tangible Book Value	458.4Cr	557.38Cr	690.31Cr	1.13TCr	1.07TCr
Tangible Book Value Per Share	2.29	2.79	3.45	4.71	4.47
Total Debt	3.27Cr	2.75Cr	3.6Cr	19Cr	17Cr
Net Debt	-185.77Cr	-277.24Cr	-433.61Cr	-1.05TCr	-621.78Cr
Debt Equivalent Oper. Leases	1.99Cr	68.72L	1.07Cr	1.12Cr	98.96L
Minority Interest, Total (Incl. Fin. Div)	-	32Cr	47Cr	56Cr	58Cr
Account Code - Inventory Valuation	-	-	6	6	6
Inventories - Raw Materials, Total	25Cr	32Cr	26Cr	29Cr	26Cr
Inventories - Finished Goods, Total	17Cr	27Cr	12Cr	22Cr	13Cr
Buildings, Total	99Cr	115.75Cr	162.48Cr	245.68Cr	267.05Cr
Machinery, Total	199.6Cr	259.17Cr	357.94Cr	570.94Cr	668.57Cr
Full Time Employees	-	-	10.97T	11.19T	11.37T
Accumulated Allowance for Doubtful Accounts (Supple)	98.85L	3.05Cr	3.66Cr	3.68Cr	3.67Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	86Cr	99Cr	132.93Cr	163.67Cr	99Cr
Depreciation & Amortization - CF	27Cr	33Cr	46Cr	58Cr	82Cr
Depreciation & Amortization, Total	27Cr	33Cr	46Cr	58Cr	82Cr
(Gain) Loss From Sale Of Asset	67.8L	33.65L	1.38Cr	1.36Cr	1.27Cr
Provision and Write-off of Bad Debts	-94.8L	2.72Cr	38.17L	11.78L	-2L
Other Operating Activities, Total	-34Cr	-23Cr	-11Cr	-15Cr	-18Cr
Change In Accounts Receivable	-11Cr	-7.57Cr	-6.28Cr	31Cr	-3.2Cr
Change In Inventories	-16Cr	-17Cr	21Cr	-11Cr	10Cr
Change In Accounts Payable	21Cr	-25.96L	-1.98Cr	-94Cr	-28Cr
Change in Unearned Revenues	9.91Cr	-2.23Cr	-11Cr	5.39Cr	7.22Cr
Cash from Operations	83Cr	84Cr	171.82Cr	139.3Cr	151.11Cr
Capital Expenditure	-31Cr	-72Cr	-225.09Cr	-198.09Cr	-141.28Cr
Sale of Property, Plant, and Equipment	24.75L	22.93L	84.5L	2.01Cr	91.62L
Cash Acquisitions	-	35T	-	-15Cr	-
Investment in Marketable and Equity Securities, Total	1.79Cr	-1.52Cr	-345.94Cr	-97Cr	-93Cr
Other Investing Activities, Total	98Cr	74Cr	361.14Cr	11Cr	25Cr
Cash from Investing	68Cr	12.22L	-209.05Cr	-297.36Cr	-209.17Cr
Short Term Debt Issued, Total	-	-	590Cr	4.86Cr	-
Long-Term Debt Issued, Total	-	-	-	-	1.47Cr
Total Debt Issued	-	-	590Cr	4.86Cr	1.47Cr
Short Term Debt Repaid, Total	-50T	-16T	-590Cr	-3.19Cr	-
Long-Term Debt Repaid, Total	-1.76Cr	-1.96Cr	-1.7Cr	-2.01Cr	-3.54Cr
Total Debt Repaid	-1.77Cr	-1.96Cr	-591.7Cr	-5.2Cr	-3.54Cr
Issuance of Common Stock	-	-	-	529.84Cr	-
Common Dividends Paid	-	-	-	-	-380.97Cr
Common & Preferred Stock Dividends Paid	-	-	-	-	-380.97Cr
Other Financing Activities, Total	-17.82L	-16.17L	-4.36Cr	-13Cr	-18.83L
Cash from Financing	-1.95Cr	-2.12Cr	-6.06Cr	516.02Cr	-383.23Cr
Foreign Exchange Rate Adjustments	14.69L	-1L	-67T	4.64Cr	-11Cr
Net Change in Cash	149.11Cr	82Cr	-43Cr	362.61Cr	-452.72Cr
Supplemental Items
Cash Interest Paid	17.82L	16.17L	4.25Cr	24.06L	18.83L
Cash Income Tax Paid (Refund)	47Cr	37Cr	42Cr	53Cr	12Cr
Levered Free Cash Flow	-	87Cr	368.08Cr	84Cr	-275.54Cr
Unlevered Free Cash Flow	-	87Cr	370.73Cr	84Cr	-275.43Cr
Change In Net Working Capital	-	-62Cr	-450.46Cr	-100.23Cr	268.52Cr
Net Debt Issued / Repaid	-1.77Cr	-1.96Cr	-1.7Cr	-33.69L	-2.06Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	6.6	8.38	7.84	3.05
Return on Total Capital	-	12.33	14.84	12.78	4.42
Return On Equity %	-	18.87	20.07	17.27	8.7
Return on Common Equity	-	19.49	21.31	17.98	8.95
Margin Analysis
Gross Profit Margin %	43.84	41.66	44.66	47.31	45.68
SG&A Margin	35.36	32.82	32.46	32.2	37.42
EBITDA Margin %	10.32	10.64	14.97	18.74	14.77
EBITA Margin %	8.13	8.24	11.71	14.71	7.56
EBIT Margin %	8.13	8.24	11.71	14.71	7.56
Income From Continuing Operations Margin %	7.57	7.83	9.85	12.28	9.17
Net Income Margin %	7.57	7.84	9.84	12.1	8.96
Net Avail. For Common Margin %	7.57	7.84	9.84	12.1	8.96
Normalized Net Income Margin	6.68	6.84	8.74	10.05	6.74
Levered Free Cash Flow Margin	-	6.91	27.24	6.2	-25.04
Unlevered Free Cash Flow Margin	-	6.92	27.43	6.21	-25.03
Asset Turnover
Asset Turnover	-	1.28	1.14	0.85	0.65
Fixed Assets Turnover	-	6.25	3.47	2.29	1.65
Receivables Turnover (Average Receivables)	-	49.03	57.41	52.41	38
Inventory Turnover (Average Inventory)	-	14.69	15.49	16.16	13.23
Short Term Liquidity
Current Ratio	1.72	1.76	1.07	1.89	2.13
Quick Ratio	0.6	0.81	0.99	1.81	2.02
Operating Cash Flow to Current Liabilities	0.2	0.2	0.33	0.22	0.42
Days Sales Outstanding (Average Receivables)	-	7.44	6.36	6.98	9.6
Days Outstanding Inventory (Average Inventory)	-	24.84	23.56	22.65	27.59
Average Days Payable Outstanding	-	23.07	34.65	36.4	29.43
Cash Conversion Cycle (Average Days)	-	9.21	-4.73	-6.77	7.77
Long Term Solvency
Total Debt/Equity	0.71	0.47	0.49	1.59	1.54
Total Debt / Total Capital	0.71	0.46	0.49	1.56	1.52
LT Debt/Equity	0.37	0.18	0.27	1.42	1.42
Long-Term Debt / Total Capital	0.36	0.18	0.27	1.4	1.4
Total Liabilities / Total Assets	49.56	44.4	43.29	36.55	26.48
EBIT / Interest Expense	517.34	643.2	37.23	814.71	447.61
EBITDA / Interest Expense	670.12	844.87	48.15	1.05T	891.05
(EBITDA - Capex) / Interest Expense	493.54	397.81	-4.79	239.1	130.68
Total Debt / EBITDA	0.03	0.02	0.02	0.07	0.11
Net Debt / EBITDA	-1.56	-2.03	-2.12	-4.08	-3.76
Total Debt / (EBITDA - Capex)	0.04	0.04	-0.18	0.32	0.72
Net Debt / (EBITDA - Capex)	-2.11	-4.31	21.29	-17.92	-25.61
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	11.31	7.07	0.05	-18.63
Gross Profit, 1 Yr. Growth %	-	5.79	14.76	6	-21.45
EBITDA, 1 Yr. Growth %	-	14.75	50.66	25.25	-35.86
EBITA, 1 Yr. Growth %	-	12.82	52.19	25.64	-58.18
EBIT, 1 Yr. Growth %	-	12.82	52.19	25.64	-58.18
Earnings From Cont. Operations, 1 Yr. Growth %	-	15.22	34.66	24.75	-39.28
Net Income, 1 Yr. Growth %	-	15.34	34.3	23.12	-39.8
Normalized Net Income, 1 Yr. Growth %	-	13.88	36.83	19.12	-45.41
Diluted EPS Before Extra, 1 Yr. Growth %	-	15.34	34.3	18.78	-48.07
Accounts Receivable, 1 Yr. Growth %	-	-12.63	-3.9	23.64	2.99
Inventory, 1 Yr. Growth %	-	42.03	-35.83	33.61	-20.8
Net Property, Plant and Equip., 1 Yr. Growth %	-	57.9	115.54	22.04	4.48
Total Assets, 1 Yr. Growth %	-	16.68	22.6	43.78	-17.68
Tangible Book Value, 1 Yr. Growth %	-	21.59	23.85	63.7	-5.05
Common Equity, 1 Yr. Growth %	-	21.59	23.85	63.7	-5.05
Cash From Operations, 1 Yr. Growth %	-	2.14	103.35	-18.92	8.47
Capital Expenditures, 1 Yr. Growth %	-	129.72	211.37	-12	-28.68
Levered Free Cash Flow, 1 Yr. Growth %	-	-	321.76	-77.21	-428.54
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	324.31	-77.34	-427.81
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-32.9
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	9.17	3.5	-9.77
Gross Profit, 2 Yr. CAGR %	-	-	10.18	10.29	-8.75
EBITDA, 2 Yr. CAGR %	-	-	31.48	37.37	-10.37
EBITA, 2 Yr. CAGR %	-	-	31.03	38.28	-27.51
EBIT, 2 Yr. CAGR %	-	-	31.03	38.28	-27.51
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	24.56	29.61	-12.97
Net Income, 2 Yr. CAGR %	-	-	24.46	28.59	-13.91
Normalized Net Income, 2 Yr. CAGR %	-	-	24.83	25.5	-19.36
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	24.46	26.3	-21.46
Accounts Receivable, 2 Yr. CAGR %	-	-	-8.37	9	12.85
Inventory, 2 Yr. CAGR %	-	-	-4.54	-7.41	2.86
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	84.48	62.19	12.92
Total Assets, 2 Yr. CAGR %	-	-	19.61	32.77	8.79
Tangible Book Value, 2 Yr. CAGR %	-	-	22.72	42.39	24.67
Common Equity, 2 Yr. CAGR %	-	-	22.72	42.39	24.67
Cash From Operations, 2 Yr. CAGR %	-	-	44.12	28.4	-6.22
Capital Expenditures, 2 Yr. CAGR %	-	-	167.45	65.54	-20.78
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-1.97	-13.48
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-1.94	-13.81
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	6.04	-4.48
Gross Profit, 3 Yr. CAGR %	-	-	-	8.77	-1.5
EBITDA, 3 Yr. CAGR %	-	-	-	29.37	6.57
EBITA, 3 Yr. CAGR %	-	-	-	29.21	-7.18
EBIT, 3 Yr. CAGR %	-	-	-	29.21	-7.18
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	24.62	0.66
Net Income, 3 Yr. CAGR %	-	-	-	24.01	-0.15
Normalized Net Income, 3 Yr. CAGR %	-	-	-	21.5	-4.91
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	22.54	-6.08
Accounts Receivable, 3 Yr. CAGR %	-	-	-	1.25	6.96
Inventory, 3 Yr. CAGR %	-	-	-	6.78	-12.11
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	60.75	40.08
Total Assets, 3 Yr. CAGR %	-	-	-	27.18	13.21
Tangible Book Value, 3 Yr. CAGR %	-	-	-	35.09	24.4
Common Equity, 3 Yr. CAGR %	-	-	-	35.09	24.4
Cash From Operations, 3 Yr. CAGR %	-	-	-	18.97	21.38
Capital Expenditures, 3 Yr. CAGR %	-	-	-	84.64	25.03
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	46.7
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	46.63