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重庆啤酒(600132) - 重庆啤酒股份有限公司2025年第一次临时股东会法律意见书
2025-09-10 10:45
北京市中伦(重庆)律师事务所 关于重庆啤酒股份有限公司 2025 年第一次临时股东会的 法律意见书 二〇二五年九月 北京市中伦(重庆)律师事务所 关于重庆啤酒股份有限公司 2025 年第一次临时股东会的 法律意见书 致:重庆啤酒股份有限公司 北京市中伦(重庆)律师事务所(以下简称"本所")受重庆啤酒股份有限 公司(以下简称"公司")委托,指派律师出席公司 2025 年第一次临时股东会(以 下简称"本次股东会"),并就贵公司本次股东会的召集和召开程序、召集人资格、 出席会议人员资格、本次股东会的表决程序、表决结果等相关问题出具本法律意 见书。 本法律意见书根据已发生或存在的事实,根据《中华人民共和国公司法》(以 下简称"《公司法》")、《上市公司股东会规则》等法律、法规、规范性文件以及 《上海证券交易所上市公司自律监管指南第 2 号-业务办理:第四号-股东会网络 投票》(以下简称"《2 号指南》")、《重庆啤酒股份有限公司章程》(以下简称"《公 司章程》")的相关规定出具。 1. 本次股东会由 2025 年 8 月 13 日召开的贵公司第十一届董事会第二次会 议作出决议召集。 2. 贵公司董事会已于 2025 ...
非白酒板块9月10日跌0.27%,*ST兰黄领跌,主力资金净流出888.95万元
Zheng Xing Xing Ye Ri Bao· 2025-09-10 08:30
Market Overview - On September 10, the non-liquor sector declined by 0.27% compared to the previous trading day, with *ST Lanhua leading the decline [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Notable gainers in the non-liquor sector included *ST Yedao, which rose by 3.22% to close at 6.74, and ST Xifa, which increased by 1.76% to 11.57 [1] - Conversely, *ST Lanhua fell by 2.18% to 8.51, and Zhujiang Beer decreased by 1.22% to 10.53 [2] Trading Volume and Value - The trading volume and value for selected stocks in the non-liquor sector showed significant activity, with Gu Yue Long Shan recording a trading volume of 113,300 hands and a transaction value of 114 million yuan [1] - The total net outflow of funds in the non-liquor sector was 8.89 million yuan from main funds, while retail investors saw a net inflow of 28.12 million yuan [2] Fund Flow Analysis - Ba Run Co. had a main fund net inflow of 26.84 million yuan, while retail investors experienced a net outflow of 4.98 million yuan [3] - The fund flow analysis indicates that while main funds were withdrawing, retail investors were actively buying into certain stocks, such as Huaiqian Beer, which saw a net inflow of 2.76 million yuan from retail investors [3]
2025年第35周:食品饮料行业周度市场观察
艾瑞咨询· 2025-09-08 00:06
Group 1 - The article discusses the trend of tea brands entering the coffee market, highlighting the rapid growth of the coffee sector in China, which is expected to reach a trillion yuan by 2025. Brands like Cha Yan Yue Se and Mi Xue Bing Cheng are launching coffee products to capture this market [3] - The resurgence of iced tea is noted, with brands like Nongfu Spring and Yuanqi Forest introducing new products that emphasize health and low sugar content. The iced tea market, traditionally dominated by brands like Master Kong, is seeing new entrants aiming to disrupt the status quo [4] - The rise of street vendors is impacting traditional restaurants, as low-cost and convenient options attract consumers. This shift is supported by policy changes and market dynamics, leading to a more diverse food service ecosystem [5] Group 2 - The decline of sugary beverages is evident, with health-conscious products gaining popularity among younger consumers. Yuanqi Forest's new health-focused product line has seen significant growth, indicating a shift towards traditional health concepts in beverage innovation [6] - Instant drink brands like Xiangpiaopiao are facing challenges as consumer preferences shift towards fresh and convenient options. Despite attempts to diversify, these brands struggle to maintain relevance in a rapidly evolving market [7] - The emergence of hard discount retailing in China is reshaping the market, with retailers focusing on high-quality, low-cost products. This model emphasizes supply chain optimization and has gained traction among consumers seeking value [9] Group 3 - Nongfu Spring has achieved a significant milestone by ranking third in the global soft drink brand value list, driven by its dual-engine strategy of water and beverages, and a strong health positioning [10][11] - Master Kong is redefining instant noodles by focusing on consumer satisfaction and product innovation, achieving revenue growth through a diversified product matrix [12] - New product launches in the health beverage sector, such as Panpan's jasmine tea and Yiwei's new yogurt drinks, reflect a growing consumer interest in health-oriented products [13][14] Group 4 - Mengniu's collaboration with popular IPs like Nezha has proven successful, with significant sales figures indicating effective engagement with younger consumers through innovative marketing strategies [15] - The rapid expansion of brands like Mr. Ice Cream, which focuses on high-quality, handmade ice cream, highlights the competitive landscape in the dessert market [16] - Wahaha's investment in a new beverage production facility in Xi'an aims to enhance its production capabilities and market presence, leveraging the region's established food and beverage ecosystem [17] Group 5 - The beverage market is witnessing a shift towards health and unique flavor experiences, with brands like Reesun Yogurt innovating to meet consumer demands for fresh and diverse products [18] - McDonald's has reported strong performance in China, with plans for aggressive expansion and a focus on local sourcing to enhance its supply chain efficiency [19] - The success of community-focused dining concepts, such as Xiong Daye's handmade dumplings, illustrates the growing trend of personalized and culturally rich food experiences [20] Group 6 - The traditional tea brand Wu Yutai is diversifying into the bakery and coffee market, showcasing a trend of established brands exploring new culinary territories [21] - Yanjing Beer is focusing on premiumization and expanding its product offerings, while also experimenting with low-cost beverage options to create new revenue streams [23] - Huangshanghuang's acquisition of a controlling stake in Lixing Food aims to enhance its product portfolio in the freeze-dried food sector, indicating a strategic move towards emerging market opportunities [24] Group 7 - Chongqing Beer is adapting its strategy by increasing its online presence and expanding into non-alcoholic beverages, reflecting a broader trend in the beverage industry towards diversification and innovation [25] - Huangshi Group is focusing on the water buffalo milk sector, leveraging technological advancements and strategic investments to strengthen its market position [27]
非白酒板块9月3日跌1.06%,威龙股份领跌,主力资金净流入1.15亿元
Zheng Xing Xing Ye Ri Bao· 2025-09-03 08:40
Market Overview - On September 3, the non-liquor sector declined by 1.06%, with Weilang Co. leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Stock Performance - Notable gainers included *ST Lanhua, which rose by 3.60% to close at 8.91, and Huaiqi Mountain, which increased by 3.36% to 25.83 [1] - Conversely, Weilang Co. fell by 3.02% to 7.06, and ST Xifa dropped by 2.74% to 10.63 [2] Trading Volume and Value - The trading volume and value for various stocks were highlighted, with Huaiqi Mountain recording a trading volume of 428,600 shares and a transaction value of 1.144 billion [1] - Weilang Co. had a trading volume of 83,900 shares and a transaction value of 60.11 million [2] Capital Flow Analysis - The non-liquor sector saw a net inflow of 115 million from institutional investors, while retail investors experienced a net outflow of 57.45 million [2][3] - The capital flow for specific stocks indicated that Huaiqi Mountain had a net inflow of 168 million, while *ST Lanhua experienced a net inflow of 9.55 million [3]
重庆啤酒(600132) - 重庆啤酒股份有限公司2025年第一次临时股东会会议资料
2025-09-03 08:30
二零二五年九月十日 股东会会议须知 尊敬的股东及股东代表: 您好! 重庆啤酒股份有限公司 二零二五年第一次临时股东会 会议资料 欢迎参加重庆啤酒股份有限公司 2025 年第一次临时股东会。为保证本次会议的顺利 进行,以下事项希望得到您的配合和支持。 一、董事会以维护全体股东的合法权益、维持大会正常秩序和提高议事效率为原则, 认真履行《公司章程》规定的职责,做好召集、召开股东会的各项工作。 二、股东参加股东会依法享有发言权、质询权、表决权等权利。股东参加股东会, 应认真履行其法定权利和义务,不得侵犯其他股东的权益,不得扰乱大会的正常秩序。 三、大会设立秘书处,具体负责大会有关程序方面的事宜。 四、参加会议的基本情况 本次会议采取现场投票与网络投票相结合的方式。本次股东会将通过上海证券交易 所交易系统向公司股东提供网络投票平台,股东可以在网络投票时间内通过上述系统行 使表决权。 现场会议召开时间为:2025 年 9 月 10 日(星期三)下午 16:30; 网络投票时间为:2025 年 9 月 10 日(星期三)上午 9:30-11:30,下午 13:00-15:00。 五、投票表决的有关事宜 1、出席本次现场会 ...
2025年1-7月中国啤酒产量为2327万千升 累计增长0.6%
Chan Ye Xin Xi Wang· 2025-09-03 05:11
Core Viewpoint - The Chinese beer industry is experiencing a slight growth in production, with a reported increase in output for the first half of 2025 compared to the previous year [1]. Industry Summary - According to the National Bureau of Statistics, the beer production in China reached 3.74 million kiloliters in July 2025, marking a year-on-year growth of 1.9% [1]. - The cumulative beer production from January to July 2025 was 23.27 million kiloliters, reflecting a cumulative growth of 0.6% [1]. - The report by Zhiyan Consulting provides insights into the market dynamics and competitive strategies of the non-alcoholic beer industry in China from 2025 to 2031 [1]. Company Summary - Listed companies in the beer sector include Zhujiang Beer (002461), Chongqing Beer (600132), Yanjing Beer (000729), Lanzhou Yellow River (000929), and Huichuan Beer (600573) [1].
西南证券:给予重庆啤酒买入评级
Zheng Quan Zhi Xing· 2025-08-28 07:03
Core Viewpoint - The report highlights that Chongqing Beer (600132) has maintained stable sales in Q2 2025, but rising tax rates have pressured profitability, leading to a "buy" rating from Southwest Securities [1] Financial Performance - In H1 2025, the company achieved revenue of 8.84 billion yuan, a slight decrease of 0.2% year-on-year, and a net profit attributable to shareholders of 870 million yuan, down 4% year-on-year [2] - In Q2 2025, revenue was 4.48 billion yuan, a decline of 1.8% year-on-year, with a net profit of 390 million yuan, down 12.7% year-on-year [2] - Q2 2025 sales volume was 917,000 tons, remaining stable year-on-year, but the average price per ton decreased by 1.9% to 4,755 yuan [2][3] Market Dynamics - The current drinking consumption demand is weak, impacting the on-premise channel, while the company is actively expanding non-on-premise channels to mitigate the decline in restaurant sales [2] - Revenue growth rates for different beer categories in Q2 2025 were -1.1% for high-end, -3.6% for mainstream, and +4.8% for economy beers [2] Cost and Profitability - The gross margin for H1 2025 was 49.8%, up 0.6 percentage points year-on-year, with Q2 gross margin at 51.2%, an increase of 0.7 percentage points [3] - The tax rate increased by 7.4 percentage points year-on-year to 27.3% in Q2 2025, contributing to a net profit margin decline of 2.2 percentage points to 17.6% [3] Future Outlook - The company is expected to enhance profitability through the expansion of non-on-premise channels and the introduction of new products, with a focus on high-end brands [4] - Forecasted earnings per share (EPS) for 2025-2027 are 2.42 yuan, 2.62 yuan, and 2.78 yuan, respectively, with corresponding dynamic price-to-earnings ratios of 23x, 21x, and 20x [4]
重庆啤酒(600132):Q2销量维持稳健 税率提升拖累盈利
Xin Lang Cai Jing· 2025-08-28 06:25
Core Viewpoint - The company reported a slight decline in revenue and net profit for the first half of 2025, with ongoing challenges in the beverage consumption market impacting performance [1][2]. Financial Performance - For H1 2025, the company achieved revenue of 8.84 billion yuan, a year-on-year decrease of 0.2%, and a net profit attributable to shareholders of 870 million yuan, down 4% [1]. - In Q2 2025, revenue was 4.48 billion yuan, a decline of 1.8% year-on-year, while net profit was 390 million yuan, down 12.7% [1]. - The company’s gross margin for H1 2025 was 49.8%, an increase of 0.6 percentage points year-on-year, with Q2 gross margin at 51.2%, up 0.7 percentage points [2]. Sales and Market Dynamics - Q2 2025 saw stable sales volume of 917,000 tons, with a slight year-on-year change, while the average price per ton decreased by 1.9% to 4,755 yuan [1]. - The revenue growth rates for different beer price segments in Q2 2025 were -1.1% for premium, -3.6% for mainstream, and +4.8% for economy beers [1]. - The company is actively expanding its non-beverage channels to offset declines in the beverage sector, with new product launches contributing to a diversified portfolio [3]. Cost and Profitability - The company’s selling expense ratio in Q2 2025 was 17.4%, reflecting a slight increase, while advertising and marketing expenses decreased by 3% year-on-year [2]. - The effective tax rate increased by 7.4 percentage points to 27.3% in Q2 2025, impacting net profit margins, which fell by 2.2 percentage points to 17.6% [2]. Future Outlook - The company anticipates continued improvement in profitability driven by the recovery of mid-to-high-end brand sales and the expansion of non-beverage channels [3]. - The forecasted earnings per share (EPS) for 2025-2027 are 2.42 yuan, 2.62 yuan, and 2.78 yuan, with corresponding dynamic price-to-earnings ratios of 23x, 21x, and 20x [3].
非白酒板块8月27日跌1.7%,*ST兰黄领跌,主力资金净流出2.83亿元
Zheng Xing Xing Ye Ri Bao· 2025-08-27 08:43
Market Overview - On August 27, the non-liquor sector declined by 1.7% compared to the previous trading day, with *ST Lanhuang leading the decline [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Key stocks in the non-liquor sector showed varied performance, with 会稽山 (Kuaijishan) increasing by 0.78% to close at 23.28, while *ST Lanhuang (Lanhuang) fell by 4.47% to close at 8.34 [1][2] - Other notable declines included 重庆啤酒 (Chongqing Beer) down 1.07%, 张裕A (Zhangyu A) down 1.14%, and *ST 椰岛 (Yedao) down 1.45% [1][2] Trading Volume and Capital Flow - The non-liquor sector experienced a net outflow of 283 million yuan from institutional investors, while retail investors saw a net inflow of 298 million yuan [2] - The trading volume for 会稽山 was 338,600 hands with a transaction value of 779 million yuan, while *ST 兰黄 had a trading volume of 57,300 hands and a transaction value of 48.47 million yuan [1][2] Capital Inflow Analysis - In terms of capital inflow, 张裕A had a net inflow of 5.04 million yuan from institutional investors, while *ST 兰黄 saw a significant net outflow of 10.63 million yuan [3] - The data indicates that retail investors were more active in the market, with notable inflows into stocks like *ST 椰岛 and 珠江啤酒 (Zhujiang Beer) [3]
啤酒企业探索 “啤酒+饮品”战略布局
Zheng Quan Ri Bao· 2025-08-27 00:46
Core Viewpoint - The beer industry is facing intensified competition, prompting companies to explore diversification strategies, particularly the integration of "beer + beverages" as a key focus for growth [1][3]. Group 1: Industry Overview - As of August 19, 2025, seven beer companies listed in A-shares have reported their semi-annual results, with many citing increased competition as a common challenge [1]. - The beer industry is undergoing structural adjustments and transformation, with a reported production volume of 19.044 million kiloliters in the first half of 2025, reflecting a year-on-year decline of 0.3% [3]. Group 2: Company Strategies - Chongqing Beer has accelerated its entry into non-beer categories, launching a fruit-flavored soda, "Tianshan Fresh Fruit Garden," in pilot markets [2]. - Yanjing Beer has introduced its first national beverage product, "Beisite" soda in various flavors, marking its strategic shift towards a dual-driven model of "beer + beverages" [3]. Group 3: Market Insights - Industry experts suggest that beer companies entering the beverage market is a strategic response to changing market conditions, emphasizing the need for new growth avenues [4][5]. - The integration into the beverage sector is seen as a potential source of new revenue, but companies must navigate the complexities of market penetration and differentiation [6][7].