Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

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Thematic (Sector/Industry)

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and alcoholic beverages will likely continue to rise at a healthy clip, offering outsize gains versus other, more-developed nations, we expect slowing gross domestic product growth, worsening demographics, and embedded cultural practices to cause much more muted gains over the next five years than many investors hope.We anticipate soft-drink and beer volume growth to trail GDP gains. That said, we see pockets of opportunity for manufacturers as further premiumization leads to improving price points, profitability, and returns on capital. In particular, we think investors should keep international beverage behemoths #<a href="https://www.smartkarma.com/entities/979" target="_blank" data-smartkarma-citation="entities:979:1">Coca Cola Co/The (KO US)</a> and <a href="https://www.smartkarma.com/entities/865" target="_blank" data-smartkarma-citation="entities:865:1">Anheuser Busch Inbev Sa/Nv (ABI BB)</a> on their watch lists, given solid brand intangible assets, national distribution networks, and cost advantages. Conversely, we think local brewer <a href="https://www.smartkarma.com/entities/1296" target="_blank" data-smartkarma-citation="entities:1296:1">Tsingtao Brewery Co Ltd H (168 HK)</a> looks overvalued.Analysts: Adam Fleck, CFA &amp; team

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and alcoholic beverages will likely continue to rise at a healthy clip, offering outsize gains versus other, more-developed nations, we expect slowing gross domestic product growth, worsening demographics, and embedded cultural practices to cause much more muted gains over the next five years than many investors hope.We anticipate soft-drink and beer volume growth to trail GDP gains. That said, we see pockets of opportunity for manufacturers as further premiumization leads to improving price points, profitability, and returns on capital. In particular, we think investors should keep international beverage behemoths #Coca Cola Co/The (KO US) and Anheuser Busch Inbev Sa/Nv (ABI BB) on their watch lists, given solid brand intangible assets, national distribution networks, and cost advantages. Conversely, we think local brewer Tsingtao Brewery Co Ltd H (168 HK) looks overvalued.Analysts: Adam Fleck, CFA &amp; team

China Unlikely to Quench Beverage Firms' Thirst for Growth

China

Asia - Potash International Investment (Guangzhou) Co., Ltd. manufactures and distributes fertilizers. The Company produces potassium fertilizers, compound fertilizers, organic fertilizers, microbial fertilizers, and other products. Asia - Potash International Investment (Guangzhou) also operates grain manufacturing, shipping services, investment management, and other businesses.

Asia - Potash International In (000893 CH)

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China Unlikely to Quench Beverage Firms' Thirst for Growth

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and...

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