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China Resources Beer (OTC:CRHKY) Stock, Option Chain

China Resources Beer

China Resources Beer, or CR Beer, was originally a conglomerate enterprise with operations across retail, beer, food and beverage sectors. In September 2015, the company disposed of all its non-beer businesses and became a pure beer producer. Through a series of mergers and acquisitions, the company retains its leadership position in China's beer industry. Amid the premiumization trend in the domestic beer market, CR beer acquired Heineken China in 2019, which allows CR Beer access to a premium international brand and also leverages its sophisticated distribution network to grow Heineken's sales and market share. CR Beer is now China's largest brewer, with a volume share of about 26%, versus 15% of Tsingtao and 19% of Budweiser APAC, based on Euromonitor data.

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TSCDY

UK Supermarket Chain Tesco Pays $550M to Set Up JV in China with CRE

Earnings

China Resources Power H1 Net Profit Rises 21%

CHINA RES BEER HLDG S/ADR by China Resources Beer Holdings Company Limited

China Resources Beer (Holdings) Co Ltd

CERRO DE PASCO RES INC by Cerro De Pasco Res Inc.

Following the announcement on 9 August 2013 of their agreement on a Memorandum of Understanding, Tesco PLC (OTC: <a class="ticker" href="/stock/tscdy#OTC">TSCDY</a>) and China Resources Enterprise, Limited (OTC: <a class="ticker" href="/stock/crhky#OTC">CRHKY</a>) today announce that they have entered into definitive agreements to combine their Chinese retail operations to form the leading multi-format retailer in China (the “Joint Venture” or “JV”).

Key highlights:
The JV combines Tesco's best-in-class retail practices, international sourcing and digital/ecommerce capabilities with CRE's strong local knowledge and brand to create a business with sales approaching £10bn, in which Tesco will have a 20% stake.
The JV will be the leading retailer in seven of the eight most populous and highest GDP provinces in China.
Tesco will combine its 134 Chinese stores as well as its Chinese shopping mall business (together “Tesco China”) with the China Resources Vanguard business (“CRV”) of 2,986 stores.
The JV will secure significant synergies from combining the two operations.
Tesco will make a cash contribution to the JV of HK$2,325m (c.£185m)
Tesco will also make a payment of HK$1,000m (c.£80m) to CRE at completion and a further HK$1,000m (c.£80m) on the first anniversary of completion.
Tesco will have two seats on the board of a maximum of 10 members.

Completion is expected in the first half of 2014, subject to regulatory and CRE shareholder approval. 

Details of the transaction
The JV will benefit from CRV's strong brands, deep understanding of local Chinese customers, established nationwide infrastructure, local sourcing skills, strong property development and management skills and deep and established local, regional and national government relationships.
Tesco will bring to the JV retail best practices in areas such as retail operations, customer analytics, private label development, supply chain management, retail management development as well as its strong international sourcing capabilities, digital commerce and globally-recognised expertise in the development of online sales channels.
The parties expect the JV to be able to secure significant synergies from combining their respective skills and scale therefore resulting in faster growth and enhanced profitability.
Tesco will receive an initial shareholding of 20% of the enlarged issued share capital of the JV entity, with a right to acquire a further 5% at fair market value after five years following completion of the transaction. The board of directors of the JV (the “JV Board”) will consist of a maximum of 10 directors. Tesco will be entitled to appoint two directors to the JV Board and will have a range of shareholder and governance rights consistent with its 20% shareholding. Philip Clarke and Laurie McIlwee will represent Tesco on the JV board.
Tesco will also make a payment of HK$1,000m to CRE at completion and a further HK$1,000m on the first anniversary of completion.
Upon completion of the transaction, Tesco's interest in the JV will be accounted for as an associate. Tesco's cash contributions will be funded from existing Tesco resources.
The transaction constitutes a Class 2 transaction for the purposes of the UK Financial Authority's Listing Rules and, as such, Tesco shareholder approval is not required.
Completion of the transaction and therefore formation of the JV is subject to written CRE shareholder approval and is subject to the satisfaction (or, where applicable, the waiver) of certain closing conditions, including securing the necessary anti-trust and regulatory approvals. Tesco has received an irrevocable undertaking from CRH (Enterprise) Limited pursuant to which it will exercise all voting rights attaching to its shareholding in CRE to vote in favour of all resolutions proposed to CRE's shareholders in connection with the implementation of the JV. The issued share capital of CRE as of today is 2,402,809,120, in which CRH holds 1,232,764,380, representing app. 51.31%.
It is expected that the transaction will complete during the first half of 2014.

Rumors

Sky News Reports UK's Tesco to Merge with China's Vanguard 

China Resources Power Holdings Co (OTC: <a class="ticker" href="/stock/crhky#OTC">CRHKY</a>) posted a 21% rise in its first-half net profit.

China Resources Power's net profit for the period climbed to 3.00 billion Hong Kong dollars (US$386.8 million), versus HK$2.48 billion, in the year-ago period. 

Its revenue gained 6.6% to HK$30.94 billion, versus HK$29.03 billion. 

China Resources Power recommended a dividend of HK$0.06 in the first half.

China Resources Power shares closed at $6.19 on Friday.

Sears Holdings Inc (NASDAQ: <a class="ticker" href="/stock/shld#NASDAQ">SHLD</a>) reported a wider FQ3 loss on Thursday. Sears posted a quarterly loss of $421 million, or $3.95 per share, versus a year-ago loss of $215 million, or $1.98 per share. Sears' adjusted loss came in at $2.57 per share. Its shares outstanding dropped 3.1% to 106.5 million. Sears' sales fell to $9.57 billion from $9.68 billion. However, analysts were expecting a loss of $2.29 per share.

Helmerich &amp; Payne Inc (NYSE: <a class="ticker" href="/stock/hp#NYSE">HP</a>) reported upbeat fourth-quarter results. Helmerich &amp; Payne's quarterly net profit climbed to $121.4 million, or $1.11 per share, from $83 million, or $0.77 per share, in the year-ago period. Its revenue surged 25% to $700.7 million. However, analysts were expecting earnings of $1.04 per share on revenue of $674.1 million.

Williams-Sonoma Inc (NYSE: <a class="ticker" href="/stock/wsm#NYSE">WSM</a>) reported a 19% rise in its fiscal third-quarter net income. Williams-Sonoma's quarterly earnings surged to $43.4 million, or $0.41 per share, from $36.5 million, or $0.34 per share, in the year-ago quarter. Its shares outstanding declined 2.9% to 105.7 million. Williams-Sonoma's revenue rose to $867.2 million from $815.5 million. However, analysts were expecting earnings of $0.38 per share on revenue of $855.7 million. Williams-Sonoma raised its FY12 earnings forecast to an adjusted $2.21 to $2.26 per share versus $1.95 a year ago. Analysts were expecting aernings of $2.22 per share.

Children's Place Retail Stores Inc (NASDAQ: <a class="ticker" href="/stock/plce#NASDAQ">PLCE</a>) reported a rise in its third-quarter profit. Children's Place now projects earnings from continuing operations of $3.24 to $3.29 per share for the year, versus its earlier forecast of $3.13 to $3.25 per share. Children's Place's quarterly earnings rose to $33.7 million, or $1.33 per share, from $31.3 million, or $1.15 per share, in the year-ago period. Its sales gained 7% to $484.1 million.

The J.M. Smucker Co (NYSE: <a class="ticker" href="/stock/sjm#NYSE">SJM</a>) reported a decline in its fiscal second-quarter earnings. Smucker's quarterly earnings dropped to $127.2 million, or $1.12 per share, from $149.7 million, or $1.25 per share, in the year-earlier period. Its sales climbed 18% to $1.5 billion. On an adjusted basis, Smucker earned $1.29 per share. However, analysts were projecting earnings of $1.39 per share on sales of $1.5 billion. For the fiscal year, Smucker expects adjusted earnings of $4.90 to $5 per share, versus analysts' estimates of $5.11 per share.

TransDigm Group Inc (NYSE: <a class="ticker" href="/stock/tdg#NYSE">TDG</a>) reported better-than-expected fourth-quarter results. TransDigm projects 2012 adjusted earnings of $5.35 to $5.67 per share, on sales of $1.43to $1.47 billion. However, analysts were estimating earnings of $5.44 per share on sales of $1.44 billion. TransDigm's quarterly net income surged to $67.4 million, or $1.26 per share, from $50.6 million, or $0.96 per share, in the year-ago period. On an adjusted basis, TransDigm's earnings came in at $1.45 per share. Its sales jumped 54% to $343 million. However, analysts were expecting earnings of $1.24 per share on sales of $331 million.

Dollar Tree Inc (NASDAQ: <a class="ticker" href="/stock/dltr#NASDAQ">DLTR</a>) reported a rise in its third-quarter profit. Dollar Tree's quarterly profit surged to $104.5 million, or $0.87 per share, from $93.2 million, or $0.73 per share, in the year-ago period. Its revenue climbed to $1.60 billion, from $1.43 billion. However, analysts were expecting earnings of $0.83 per share on revenue of $1.58 billion.

Stein Mart Inc (NASDAQ: <a class="ticker" href="/stock/smrt#NASDAQ">SMRT</a>) swung to a fiscal third-quarter loss. Stein Mart posted a quarterly loss of $1.8 million, or $0.04 per share, versus a year-ago profit of $4.3 million, or $0.10 per share. Its sales declined to $258.5 million from $267.9 million. However, analysts were expecting a loss of a penny per share on sales of $258.5 million.

Perry Ellis International Inc (NASDAQ: <a class="ticker" href="/stock/pery#NASDAQ">PERY</a>) reported downbeat third-quarter profit. Perry Ellis reported its quarterly earnings at $6.5 million, or $0.40 per share, down from $7.2 million, or $0.51 per share, in the year-earlier period. Its revenue gained 23% to $248.4 million. However, analysts were expecting earnings of $0.61 per share on revenue of $254.3 million.

Donaldson Co Inc (NYSE: <a class="ticker" href="/stock/dci#NYSE">DCI</a>) reported upbeat first-quarter profit and lifted its FY12 earnings forecast. Donaldson now projects FY12 earnings of $3.25 to $3.50 per share, versus its earlier outlook of $3.15 to $3.45 per share. Donaldson's quarterly net income climbed to $68.6 million, or $0.90 per share, from $53.1 million, or $0.68 per share, in the year-earlier period. Its revenue climbed 13% to $608.3 million. Donaldson's engine product sales surged 18% to $393.7 million. However, analysts were estimating earnings of $0.79 per share on revenue of $621.0 million.

Buckle Inc (NYSE: <a class="ticker" href="/stock/bke#NYSE">BKE</a>) reported a rise in its third-quarter profit. Buckle's quarterly net income climbed to $38.3 million, or $0.82 per share, from $34.4 million, or $0.75 per share, in the year-ago period. On a diluted basis, Buckle's earnings came in at $0.81 per share. Buckle's net sales climbed 12.4% to $273.4 million, from $243.3 million, in the year-ago period. However, analysts were expecting earnings of $0.80 per share on revenue of $268.3 million. Buckle's comparable store net sales surged 9.1%.

National Grid PLC (NYSE: <a class="ticker" href="/stock/ngg#NYSE">NGG</a>) reported a 6% drop in its first-half operating profit. National Grid's operating profit before exceptional items, remeasurements and stranded cost recoveries, dropped to GBP1.42 billion, from GBP1.51 billion, in the year ago period. Analysts were expecting an operating profit of GBP1.44 billion. National Grid's net profit gained 4.6% to GBP795 million from GBP760 million. Its revenue fell 2% to GBP6.31 billion from GBP6.44 billion.

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its adjusted pretax profit for the first fiscal half. Investec's adjusted pretax profit for the period fell to GBP223.6 million, from GBP228.2 million. Its bad loans climbed to GBP143.3 million from GBP122.9 million.

SABMiller PLC (OTC: <a class="ticker" href="/stock/sbmry#OTC">SBMRY</a>) reported a 23% surge in its first-half net profit. SABMiller's net profit for the period rose to $1.38 billion, versus $1.12 billion. Its earnings before interest, taxes and amortization climbed 10% y/y to $2.70 billion from $2.47 billion, versus analysts' estimates of $2.72 billion. SABMiller's revenue surged 10% to $15.69 billion from $14.24 billion.

Royal Ahold NV reported a 15.2% rise in its Q3 net profit. Ahold's quarterly net income rose to EUR257 million. Its income from continuing operations came in at EUR254 million. Ahold's net sales gained 2.5% to EUR6.9 billion. Its operating income climbed 5.3% to EUR300 million.

China Resources Enterprise Ltd (OTC: <a class="ticker" href="/stock/crhky#OTC">CRHKY</a>) reported an 18% drop in its Q3 net profit. China Resources Enterprise's quarterly net profit declined to HK$863 million, from HK$1.06 billion. Its revenue climbed 26% to HK$30.80 billion from HK$24.45 billon. For the nine months ended Sept. 30, China Resources Enterprise's overall profit dipped 54% to HK$2.43 billion, from HK$5.30 billion.

China Sunergy Co Ltd (NASDAQ: <a class="ticker" href="/stock/csun#NASDAQ">CSUN</a>) swung to a Q3 loss. China Sunergy projects a net loss for the fourth quarter. China Sunergy posted a quarterly net loss of $31.2 million, or $0.78 per American depository share (<a class="ticker" href="/stock/ads#">ADS</a>), versus a year-ago net income of $15.3 million, or $37 per ADS. China Sunergy's total sales surged 16% to $145.7 million.

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Earnings Roundup

China Resources Enterprise Ltd (OTC: CRHKY) reported an 18% drop in its Q3 net profit.

China Resources Enterprise's quarterly net profit declined to HK$863 million, from HK$1.06 billion. Its revenue climbed 26% to HK$30.80 billion from HK$24.45 billon. 

For the nine months ended Sept. 30, China Resources Enterprise's overall profit dipped 54% to HK$2.43 billion, from HK$5.30 billion.

China Resources Enterprise shares closed at $6.67 yesterday.

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