(Yicai Global) July 30 -- Shares of Budweiser Brewing Company APAC jumped today after the Asia-Pacific unit of Anheuser-Busch InBev said that its sales have been recovering in China since May amid more social gatherings.

Budweiser Brewing APAC’s stock price [HKG:1876] touched HKD28.10 (USD3.60) today, the highest since December, after which the shares were 4.5 percent up in the afternoon.

Sales in China resumed single-digit growth in May and June from a year ago as sales channels reopened and nightlife resumed, the Hong Kong-based company said in a financial report released today. June sales in the Asian country were higher than ever, it added, without disclosing a full set of data.

The brewery's net profit slid 70 percent to USD185 million in the whole Asia-Pacific region in the first half from a year ago, according to the report. Its revenue fell 24 percent to USD2.6 billion. But while the APAC market had a 10 percent slump in the second quarter, the Chinese one stood flat.

China's long-term trend of going upscale remains unchanged despite the pandemic, deemed the company that relies on the country's nightclubs and karaoke bars for much of its revenue. More than 90 percent of the firm's catering sales channels have reopened since the early days of the epidemic, it added. That goes for over 80 percent of its nocturnal distribution channels.

Official data support Budweiser's findings. Big Chinese beer companies increased their output by nearly 8 percent in June from a year ago, according to data from the National Bureau of Statistics. But in the first half, they had decreased output by almost 10 percent.

Budweiser Brewing APAC produces, imports, markets and distributes over 50 brands, including Budweiser, Stella Artois, Corona, Hoegaarden, Cass and Harbin.

Editor: Emmi Laine