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China Resources Enterprise Languishing Over Short-Term Concerns
- The market did not CRE management's updates concerning the Tesco JV, nor the beer business, as near-term growth expectations have come down substantially.
- CRE still has a lot to gain from improving the Tesco stores and benefiting from Tesco's expertise in e-commerce and private label, while the beer business continues to gain share.
- CRE shares are likely stuck absent an improvement in same-store sales, which may be difficult in the current macro environment. Even so, the shares hold good long-term potential.
Amidst A Weak Chinese Consumer Market, CRE Faring Even Worse
- CRE has been hit by a weaker Chinese consumer sector and worries about the Tesco JV.
- A joint venture with Tesco adds scale in hypermarkets and expertise in supply chain, IT, and private label management, but also very large losses.
- The beer joint venture is seeing good volume growth and improving margin leverage.
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CRHKY vs. ETF Alternatives
The Group focuses on the consumer businesses, including retail, beer, food and beverage, in China. Its mission is to become the largest consumer goods company in China. Its ultimate holding company is China Resources National Corporation, which had a 51.33% effective interest in the Group as at... More
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