Investment Rating - The report suggests a stable configuration value for the liquor sector, indicating a defensive characteristic despite being in a bottoming phase [1][11]. Core Viewpoints - The liquor industry is currently experiencing a downtrend in market sentiment, similar to the period from late 2014 to 2015, with a slight decline in overall sales due to weak demand [1][10]. - The price of Feitian Moutai has decreased by approximately 50 yuan week-on-week, with the original box price falling below 2200 yuan, indicating a soft demand in the off-season [1][10]. - The report anticipates that the price of Feitian Moutai will fluctuate between 2100 and 2200 yuan before the upcoming peak seasons of Mid-Autumn and National Day, while monitoring the recovery of business demand [1][11]. - Despite the price drop, market sentiment towards the liquor sector remains stable, with expectations for a smooth performance in Q1 2025 for most liquor companies [1][11]. - The report highlights potential offensive opportunities in the liquor sector due to ongoing policy implementations that may bolster economic recovery expectations [2][11]. Summary by Sections Liquor Sector - The liquor sector is in a downtrend but shows signs of stabilization, with a focus on high-end brands like Guizhou Moutai and Wuliangye, which are expected to benefit from resilient consumer demand [2][11]. - Recommendations include focusing on high-end liquor with solid pricing and market positioning, as well as cyclical stocks with potential for growth [2][11]. Soft Drinks - The soft drink sector is entering a peak season, with an upward turning point in market sentiment. The report expresses optimism for improved performance in 2025, particularly for companies like Nongfu Spring and Dongpeng Beverage [3][12]. Snacks - The snack industry continues to thrive due to the release of new channels and product categories, with companies like Weilong and Yanjinpuzi expected to perform well [3][13]. Restaurant Chains - The restaurant chain sector is stabilizing at a low point, with strong growth in customized meal preparation services benefiting from the trend towards standardized dishes in chain restaurants [3][4][13].

以下文章来源于镁经 ，作者镁经小组 镁经 . 这是一个美丽又多金的公众号！新消费是我们的领地，擅长商业模式梳理，最爱发掘"美好生活新物种"。 如果您垂直细分、颜值高、易燃易爆炸，是冉冉 升起的网红品牌一枚，欢迎撩我！如果不行，我撩您。 （本公众号为"广州无冕信息技术有限公司"旗下账号。） 来源|镁经 作者|肖汝健 编辑|王大镁 作为A股功能性饮料龙头，东鹏特饮近两年经常因资本运作备受关注。 上市三年，其营收、净利润翻倍增长的同时，股东频繁套现与巨额分红也惹人关注。二股东靠减持累计套现超41亿元，创始人家族累计获得35亿元 分红。 更令人费解的是，这家手握142亿现金类资产的企业，一边大额理财、一边向银行借钱，还引发了不小的争议。 如今，它赴港二次上市的计划浮出水面，市场质疑声浪再起：这究竟是其国际化布局的资本跳板，还是股东套现的"第二通道"？ 01 一边是业绩狂飙，一边是频繁减持 对标红牛起家的东鹏特饮，如今成了名副其实的"造富机器"。 2021年5月上市后，东鹏的市值不断攀升，目前已突破1200亿元。这一市值，让东鹏饮料创始人林木勤以超510亿身家稳坐汕尾首富宝座。 千亿市值背后，是超预期的业绩增长。 数据 ...

东鹏饮料（集团）股份有限公司 2024 年年度股东会会议资料 二〇二五年四月 东鹏饮料（集团）股份有限公司 2024 年年度股东会 | 目录 | | --- | | 2024 年年度股东会会议议程 4 | | --- | | 2024 年年度股东会会议须知 7 | | 2024 年年度股东会会议议案 8 | | 议案一、关于 2024 年年度报告及其摘要的议案 8 | | 议案二、关于 2024 年度董事会工作报告的议案 9 | | 议案三、关于 2024 年度监事会工作报告的议案 14 | | 议案四、关于 2024 年度的独立董事履职情况报告的议案 17 | | 议案五、关于 2024 年度财务决算报告及 2025 年度财务预算报告的议案 18 | | 议案六、关于续聘会计师事务所的议案 25 | | 议案七、关于 2024 年度董事、监事薪酬发放确认及 2025 年度董事人员薪酬 | | 方案的议案 28 | | 议案八、关于 2024 年度利润分配预案的议案 30 | | 议案九、关于 2025 年度申请银行授信额度的议案 31 | | 议案十、关于 2025 年度使用闲置自有资金进行现金管理的议案 ...

Core Viewpoint - Dongpeng Beverage Group Co., Ltd. has announced a supplementary disclosure regarding its profit distribution plan for the year 2024, confirming that it does not trigger any risk warning situations as per the Shanghai Stock Exchange regulations [1]. Financial Summary - The total cash dividend for the current year amounts to 2,300,057,500 yuan, an increase from 1,000,025,000 yuan in the previous year and 800,020,000 yuan in the year before that [1]. - The cash dividend ratio for the current year is reported at 180.70%, which does not fall below the 30% threshold required by the stock listing rules [1]. - The company has not conducted any share buybacks in the last three years, with the total amount for share buybacks being 0 yuan [1]. Compliance with Regulations - The company confirms that it does not touch upon any risk warning situations as outlined in the revised Shanghai Stock Exchange listing rules [1]. - The cumulative cash dividends over the last three accounting years do not fall below 50 million yuan, ensuring compliance with regulatory requirements [1].

证券代码：605499 证券简称：东鹏饮料 公告编号：2025-027 1、在"重要内容提示"补充如下内容 公司不触及《上海证券交易所股票上市规则（2024 年 4 月修订）》第 9.8.1 条第一款第（八）项规定的可能被实施其他风险警示的情形。 2、在"公告正文"补充如下内容 二、是否可能触及其他风险警示情形 公司不触及其他风险警示情形，具体指标如下： 东鹏饮料（集团）股份有限公司 关于 2024 年年度利润分配预案的补充公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所信息披露规则的有关规定，东鹏饮料（集团）股份有限 公司（以下简称"公司"）对 2025 年 3 月 8 日披露的《关于 2024 年年度利润分配 预案的公告》（2025-011）进行如下补充披露： | 项目 | 本年度 | 上年度 | 上上年度 | | --- | --- | --- | --- | | 最近三个会计年度累计现金分红 及回购注销总额（元） | | | 4,100,102,500 | | 现金分红比例（%） | | | 1 ...

Group 1 - The Shanghai and Shenzhen 300 major consumer index increased by 0.28%, closing at 22,960.31 points with a trading volume of 14.755 billion yuan [1] - Over the past month, the major consumer index has risen by 6.27%, while it has decreased by 0.04% over the last three months and increased by 0.81% year-to-date [1] - The top ten weighted stocks in the major consumer index include Kweichow Moutai (45.05%), Wuliangye (11.78%), Yili (8.19%), Muyuan Foods (4.97%), Shanxi Fenjiu (4.73%), Luzhou Laojiao (4.43%), Wens Foodstuff (4.14%), Haitian Flavoring (3.08%), Dongpeng Beverage (2.2%), and Yanghe Brewery (2.11%) [1] Group 2 - The Shanghai Stock Exchange accounts for 66.27% of the major consumer index holdings, while the Shenzhen Stock Exchange accounts for 33.73% [2] - The major consumer index is composed entirely of consumer-related stocks, with a 100% allocation [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2]

Core Points - The Shanghai and Shenzhen 300 Food and Beverage Index is reported at 24,563.26 points, with a recent one-month increase of 6.60% and a year-to-date increase of 0.73% [1] - The index is composed of 300 sample stocks categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] - The top ten weighted stocks in the index include Kweichow Moutai (51.19%), Wuliangye (13.41%), Yili (9.35%), Shanxi Fenjiu (5.36%), and others [1] Market Composition - The Shanghai Stock Exchange accounts for 75.29% of the holdings in the index, while the Shenzhen Stock Exchange accounts for 24.71% [2] - In terms of industry composition, liquor represents 80.91%, dairy products 9.35%, condiments and cooking oils 4.48%, soft drinks 2.45%, meat products 1.41%, and beer 1.40% [2] Index Adjustment Mechanism - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the Shanghai and Shenzhen 300 Index samples [2] - Special events affecting sample companies may lead to adjustments in the industry index samples, including delisting or corporate actions such as mergers and acquisitions [2]

重要内容提示： 1.委托理财受托方：上海海通证券资产管理有限公司、中国银行股份有限公 司、海通期货股份有限公司、华泰证券（上海）资产管理有限公司、华夏银行股 份有限公司、北银理财有限责任公司； 2.本次委托理财金额：合计 105,000.00 万元； 3.委托理财产品类型：理财、结构性存款、资管计划； 证券代码：605499 证券简称：东鹏饮料 公告编号：2025-026 东鹏饮料（集团）股份有限公司 关于使用部分闲置自有资金进行现金管理的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 4.委托理财期限：14 天、17 天、3 个月、200 天、无固定期限； 5.履行的审议程序：东鹏饮料（集团）股份有限公司（以下简称"公司"） 于 2024 年 4 月 12 日召开第三届董事会第四次会议、第三届监事会第四次会议及 2024 年 5 月 17 日召开 2023 年年度股东大会，分别审议通过了《关于 2024 年度 使用闲置自有资金进行现金管理的议案》，公司股东大会授权公司及其子公司在 保证日常经营资金需求和资金安全的前 ...

Investment Rating - The investment rating for the company is "Add" [4][11]. Core Views - The company achieved significant growth in 2024, with revenue reaching 15.839 billion yuan, a year-on-year increase of 40.63%, and a net profit attributable to shareholders of 3.327 billion yuan, up 63.09% year-on-year [2][11]. - The company has successfully implemented a diversified product strategy, leading to increased sales in various categories, particularly in energy and electrolyte drinks [3][11]. - The company aims for a revenue and net profit growth of over 20% in 2025, with adjusted profit forecasts indicating net profits of 4.029 billion yuan in 2025 [11]. Summary by Sections Financial Performance - In Q4 2024, the company reported revenue of 3.281 billion yuan and a net profit of 619 million yuan, with year-on-year growth rates of 25.12% and 61.21%, respectively [2]. - The gross margin for 2024 was 44.81%, an increase of 1.74 percentage points year-on-year, attributed to lower raw material costs and effective expense management [10]. Product and Market Strategy - The company has focused on a multi-channel strategy, leading to a significant increase in sales of new products like the 500ml gold bottle and "Dongpeng Water" [3]. - The market share of Dongpeng energy drinks increased from 43.0% in 2023 to 47.9% in 2024, maintaining its position as the top-selling energy drink in China [3]. Regional Performance - Revenue from the Guangdong region was 4.360 billion yuan, a year-on-year increase of 15.93%, while other regions such as East China and Central China saw growth rates of 45.13% and 48.17%, respectively [3][9]. Future Projections - The company forecasts revenues of 20.154 billion yuan in 2025, with a growth rate of 27.24%, and net profits of 4.029 billion yuan, reflecting a growth rate of 21.11% [11][13].

Investment Rating - The investment rating for the company is "Add" [4][11]. Core Views - The company achieved significant growth in 2024, with revenue reaching 15.839 billion yuan, a year-on-year increase of 40.63%, and a net profit attributable to shareholders of 3.327 billion yuan, up 63.09% year-on-year [2][11]. - The company has successfully implemented a diversified product strategy, leading to increased sales in various categories, particularly in energy drinks, which accounted for 83.99% of total revenue [3][11]. - The company aims for a revenue and net profit growth of over 20% in 2025, with adjusted profit forecasts indicating net profits of 4.029 billion yuan in 2025 [11]. Summary by Sections Financial Performance - In Q4 2024, the company reported revenue of 3.281 billion yuan and a net profit of 619 million yuan, with year-on-year growth rates of 25.12% and 61.21%, respectively [2]. - The gross margin for 2024 was 44.81%, an increase of 1.74 percentage points year-on-year, while the net profit margin was 21.00%, up 2.89 percentage points [10]. Product and Market Strategy - The company has focused on a multi-channel strategy, leading to a significant increase in sales of new products like "Dongpeng Water" and maintaining a strong position in the energy drink market, with a market share increase from 43.0% in 2023 to 47.9% in 2024 [3][11]. - The company’s energy drink revenue was 13.304 billion yuan, a year-on-year increase of 28.49%, while electrolyte drink revenue surged by 280.37% to 1.495 billion yuan [3]. Regional Performance - Revenue from the Guangdong region was 4.360 billion yuan, a year-on-year increase of 15.93%, while other regions such as East China and Central China saw revenue growth rates of 45.13% and 48.17%, respectively [3][9]. Future Projections - The company forecasts revenues of 20.154 billion yuan in 2025, with a growth rate of 27.24%, and net profits of 4.029 billion yuan, reflecting a growth rate of 21.11% [11][13].