资料显示，烟台北方安德利果汁股份有限公司位于山东省烟台市牟平区新城大街889号,香港石塘咀德辅 道西452号香港工业大厦2楼E座10室，成立日期1996年3月30日，上市日期2020年9月18日，公司主营业 务涉及浓缩果汁的加工生产及销售。主营业务收入构成为：果汁、香精97.67%，饲料2.33%。 11月7日，安德利盘中下跌2.12%，截至11:12，报46.20元/股，成交3815.67万元，换手率0.30%，总市值 157.63亿元。 资金流向方面，主力资金净流出245.67万元，特大单买入0.00元，占比0.00%，卖出101.59万元，占比 2.66%；大单买入539.04万元，占比14.13%，卖出683.13万元，占比17.90%。 安德利今年以来股价涨69.11%，近5个交易日跌0.67%，近20日涨3.63%，近60日跌5.91%。 今年以来安德利已经4次登上龙虎榜，最近一次登上龙虎榜为9月12日，当日龙虎榜净买入-1599.12万 元；买入总计3545.81万元 ，占总成交额比14.61%；卖出总计5144.93万元 ，占总成交额比21.20%。 机构持仓方面，截止2025年9月30日，安 ...

I. 法定/註冊股本變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 烟台北方安德利果汁股份有限公司 (於中華人民共和國註冊成立之股份有限公司) 呈交日期: 2025年11月5日 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02218 | 說明 | 安德利果汁 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 70,664,000 | RMB | | | 1 RMB | | 70,664,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 70,664,000 | RMB | | | 1 RMB | | 70 ...

安德利（605198）三季报点评 股票研究 / [Table_Date] 2025.11.04 2025-11-04 食品饮料 [Table_Industry] /必需消费 本报告导读： 单三季度收入有所下滑，盈利维持扩张 安德利(605198) 虽然单三季度收入有所下滑，但是盈利继续维持良好扩张，此外前三季度累计来看 继续保持高成长趋势。看好公司未来份额持续提升。维持"优于大市"评级。 投资要点： 国际国内市场均保持快速增长。2025 年前三季度分区域来看，国内 市场同比增长 21.12%至 3.79 亿元，国际市场同比增长 32.37%至 9.36 亿元。国内国际市场均保持快速增长。 | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 876 | 1,418 | 1,837 | 2,203 | 2,536 | | (+/-)% | -17.8% | 61.9% | 29.5% | 19.9% | 15.1% | | 净利润( ...

Core Insights - The article highlights the top and bottom AH share premium rates as of October 31, with Northeast Electric (00042) leading at 847.37% and Ningde Times (03750) at -16.62% [1][2][3] Top AH Share Premium Rates - Northeast Electric (00042) has a premium rate of 847.37% with H-share priced at HKD 0.285 and A-share at CNY 2.25 [2][3] - Hongye Futures (03678) follows with a premium rate of 249.09%, H-share at HKD 3.850 and A-share at CNY 11.22 [2][3] - Andeli Juice (02218) also has a premium rate of 249.06%, with H-share at HKD 15.960 and A-share at CNY 46.51 [2][3] Bottom AH Share Premium Rates - Ningde Times (03750) shows a premium rate of -16.62%, with H-share at HKD 558.500 and A-share at CNY 388.77 [2][3] - China Merchants Bank (03968) has a premium rate of 0.70%, with H-share at HKD 48.640 and A-share at CNY 40.89 [2][3] - Heng Rui Pharmaceutical (01276) has a premium rate of 2.18%, with H-share at HKD 75.200 and A-share at CNY 64.15 [2][3] Top AH Share Deviation Values - Changfei Optical Fiber (06869) has the highest deviation value at 30.17%, with H-share at HKD 35.820 and A-share at CNY 85 [1][2] - Fudan Zhangjiang (01349) follows with a deviation value of 25.11%, H-share at HKD 3.270 and A-share at CNY 9.31 [1][2] - Shandong Molong (00568) has a deviation value of 22.49%, with H-share at HKD 4.100 and A-share at CNY 7.24 [1][2] Bottom AH Share Deviation Values - CNOOC Services (02883) has the lowest deviation value at -12.82%, with H-share at HKD 7.570 and A-share at CNY 14.39 [4] - First Tractor Company (00038) follows with a deviation value of -11.21%, H-share at HKD 7.830 and A-share at CNY 13.04 [4] - COSCO Shipping Energy (01138) has a deviation value of -10.47%, with H-share at HKD 11.000 and A-share at CNY 13.49 [4]

Core Viewpoint - Andeli is a leading enterprise in the concentrated juice sector in China, showcasing significant investment value due to its full industry chain advantages and strong financial performance [1]. Financial Performance - In Q3 2025, Andeli achieved a revenue of 1.321 billion yuan, ranking third among six companies in the industry, surpassing the industry average of 971 million yuan and the median of 864 million yuan [2]. - The company's net profit for the same period was 284 million yuan, ranking second in the industry, exceeding the industry average of 91 million yuan and the median of 36 million yuan [2]. Profitability and Debt Management - As of Q3 2025, Andeli's debt-to-asset ratio was 6.24%, an increase from 4.95% year-on-year, but significantly lower than the industry average of 39.87%, indicating strong debt management [3]. - The gross profit margin for Q3 2025 was 24.38%, slightly down from 25.53% year-on-year, yet still above the industry average of 12.02%, reflecting robust profitability [3]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 23.79% to 7,003, while the average number of circulating A-shares held per account increased by 31.22% to 38,600 [5]. Management Compensation - The chairman, Wang An, received a salary of 80,000 yuan in 2024, unchanged from 2023, while the president, Zhang Hui, saw a reduction in salary to 26,700 yuan, down by 174,800 yuan from the previous year [4]. Future Outlook - Guotai Junan Securities maintains an "overweight" rating for Andeli, forecasting EPS of 1.17, 1.47, and 1.79 yuan per share for 2025-2027, with a target price of 53.40 yuan per share based on a 6x PB for 2025E [6]. - The company is expected to continue high growth, with a 39.18% year-on-year increase in apple juice production in 2024 and a 28.6% increase in inventory by the end of 2024 [6]. - Andeli is expanding its production capacity with new facilities planned in Xinjiang, Shaanxi, and Liaoning, which will enhance its market share [6].

2025年10月30日，安德利(605198.SH)发布2025年三季报。 公司营业总收入为13.21亿元，在已披露的同业公司中排名第15。归母净利润为2.84亿元。经营活动现金净流入为8.41亿元。 公司最新毛利率为24.38%，较去年同期毛利率减少1.14个百分点。最新ROE为10.38%。 公司摊薄每股收益为0.82元。 公司最新总资产周转率为0.46次，在已披露的同业公司中排名第15。最新存货周转率为1.08次，在已披露的同业公司中排名第19。 公司股东户数为7021户，前十大股东持股数量为3.15亿股，占总股本比例为92.22%，前十大股东持股情况如下： | 序号 | 股东名称 | 持股 | | --- | --- | --- | | l | 香港中央结算(代理人)有限公司 | 20.9 | | 2 | Donghua Fruit Industry Co.,Ltd. | 17.2. | | ന | 山东安德利集团有限公司 | 14.2. | | ব | 成都统一企业食品有限公司 | 12.4. | | 5 | China Pingan Investment Holdings Limited | 11 ...

Group 1 - The core point of the article is that Andeli reported significant growth in its financial performance for the first three quarters of 2025, with revenue and net profit both showing substantial year-on-year increases [1] Group 2 - For the first three quarters, Andeli achieved revenue of approximately 1.321 billion yuan, representing a year-on-year increase of 28.88% [1] - The company reported a net profit attributable to shareholders of approximately 284 million yuan, which is a year-on-year increase of 43.38% [1]

公募基金方面，本期较上一季未再披露的公募基金共计42个，主要包括南方核心成长混合A、南方创新 成长混合A、南方优选价值混合A、天弘中证食品饮料ETF、南方创新精选一年定开混合发起A等。 2025年10月30日，安德利(605198.SH)发布2025年第三季报。截至2025年10月29日，共有8个机构投资者 披露持有安德利A股股份，合计持股量达2.23亿股，占安德利总股本的65.41%。其中，机构投资者包括 Donghua Fruit Industry Co.,Ltd.、山东安德利集团有限公司、成都统一企业食品有限公司、China Pingan Investment Holdings Limited、广州统一企业有限公司、烟台兴安投资中心(有限合伙)、香港中央结算(代 理人)有限公司、基本养老保险基金九零三组合，机构投资者合计持股比例达65.41%。相较于上一季 度，机构持股比例合计下跌了1.15个百分点。 外资态度来看，本期较上一季度持股减少的外资基金共计1个，即香港中央结算(代理人)有限公司，持 股减少占比小幅下跌。本期较上一季度新披露的外资机构有 1 家 ，即Donghua Fruit Industry ...

安德利（605198）果汁公告，2025年前三季度实现营业收入13.21亿元人民币，同比增长28.88%；归属 于上市公司股东的净利润为2.83亿元，同比增长43.38%；扣除非经常性损益后净利润为2.76亿元，同比 增长37.67%；基本每股收益为0.82元。 ...

Core Insights - The company reported a revenue of 373 million yuan for Q3 2025, a year-on-year decrease of 5.06%, while net profit attributable to shareholders was 83 million yuan, an increase of 29.00% [1] - The decline in revenue is attributed to high shipments in Q2, but the company expects rapid revenue growth for the full year [1] - Domestic market revenue for Q3 was 106 million yuan, up 13.9% year-on-year, while international market revenue was 263 million yuan, down 11.5% year-on-year, indicating seasonal fluctuations [1] Financial Performance - Gross margin improved to 25.53%, an increase of 3.22 percentage points year-on-year [2] - The expense ratio decreased, primarily due to a reduction in financial expenses, with a total expense ratio of 5.02%, down 0.53 percentage points year-on-year [2] - Net profit margin for Q3 was 22.14%, up 5.85 percentage points year-on-year, driven by lower credit impairment losses [2] Capacity Expansion and Market Position - The company is expanding production capacity and diversifying its product matrix, which is expected to enhance market share [2] - Recent expansions in Akesu and Yan'an, along with new projects for decolorized and deacidified concentrated juice and NFC juice, will better meet customer demand and drive revenue growth [2] Investment Outlook - Projected revenues for 2025-2027 are 1.894 billion, 2.175 billion, and 2.393 billion yuan, representing year-on-year growth rates of 33.56%, 14.86%, and 10.00% respectively [3] - Expected net profits for the same period are 399 million, 438 million, and 490 million yuan, with growth rates of 52.92%, 9.96%, and 11.89% respectively [3] - The projected price-to-earnings ratios for 2025-2027 are 39.9, 36.3, and 32.4 times [3]