According to Jin10, JPMorgan said China Resources Beer (00291.HK) reported first-half revenue growth of 1.2% year on year, below the market forecast of 2.2%, while net profit fell 11% year on year, far worse than the market expectation of roughly flat growth. JPMorgan lowered its target price for China Resources Beer to HK$28 from HK$34 and kept an Overweight rating.