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Budweiser's Profit Plummets in China Amid Home Drinking Shift

2/18/2026

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Summary

Story summary

In 2025, Budweiser Brewing APAC posts its largest profit-growth decline since 2020 in China, with CEO Yanjun Chen acknowledging underperformance.
Heineken regards China as a top contributor to net profit, with CEO Dolf van den Brink praising its operations.
Analysts attribute the divergence to a shift toward home consumption over bar and restaurant drinking amid an economic downturn.
Both brands target premium beer but pursue different strategies.

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Story summary

In 2025, Budweiser Brewing APAC posts its largest profit-growth decline since 2020 in China, with CEO Yanjun Chen acknowledging underperformance.
Heineken regards China as a top contributor to net profit, with CEO Dolf van den Brink praising its operations.
Analysts attribute the divergence to a shift toward home consumption over bar and restaurant drinking amid an economic downturn.
Both brands target premium beer but pursue different strategies.