TAIPEI -- Budweiser Brewing Co. APAC, the Hong Kong-listed regional arm of Anheuser-Busch InBev, said Wednesday that its revenue in China during the final quarter of 2024 dropped by 20.1% on the year, reflecting anemic consumption in the world's No. 2 economy.
In its latest disclosures to the Hong Kong Exchange, Bud APAC said that sales volume in China decreased by 18.9% year-on-year during the October to December quarter. "We faced a soft industry and negative channel mix" in China, the company said, adding that "continued weakness" in key so-called on-premise channels such as bars and restaurants "disproportionately affected our business." Efforts to "proactively" reduce inventory during the period contributed to the sharp declines in volume and revenue as well, it said.
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