Investment Rating - The investment rating for the company is "Buy" with a current price of 246.79 CNY and a fair value of 302.98 CNY [4]. Core Views - The company has achieved a historical high in cash collection, with sales cash exceeding 20 billion CNY, representing a year-on-year growth of over 44% [9]. - The growth momentum of the company's main products has exceeded market expectations, with a significant increase in revenue from its core product line [9]. - The company is expected to maintain strong brand momentum and improve profitability in 2025 due to favorable cost conditions and scale effects [9]. - The forecast for the company's net profit for 2024-2026 is 32.6 billion CNY, 45.0 billion CNY, and 56.4 billion CNY, respectively, with year-on-year growth rates of 60.0%, 38.0%, and 25.4% [9]. Financial Summary - Revenue for 2022 was 8,505 million CNY, projected to grow to 24,809 million CNY by 2026, with a compound annual growth rate (CAGR) of 21.8% [3]. - EBITDA is expected to increase from 2,054 million CNY in 2022 to 7,568 million CNY in 2026, reflecting a strong growth trajectory [3]. - The net profit attributable to the parent company is forecasted to rise from 1,441 million CNY in 2022 to 5,644 million CNY in 2026, with a CAGR of 25.4% [3]. - The company's earnings per share (EPS) is projected to grow from 3.60 CNY in 2022 to 10.85 CNY in 2026 [3]. - The price-to-earnings (P/E) ratio is expected to decrease from 49.40 in 2022 to 22.74 in 2026, indicating improving valuation metrics [3].

Investment Rating - The investment rating for the company is "Outperform" (maintained) [1] Core Insights - The company is expected to achieve a net profit attributable to shareholders of 3.15 to 3.45 billion yuan in 2024, representing a year-on-year growth of 54% to 69% [6] - The company maintains strong channel expansion and operational capabilities, with a focus on nationwide development and cultivating a second growth curve [6] - The company is exploring overseas market opportunities, including establishing a sales company in Indonesia and a production base in Hainan [6] Financial Data and Profit Forecast - Total revenue is projected to grow from 11.26 billion yuan in 2023 to 19.82 billion yuan in 2025, with a compound annual growth rate (CAGR) of approximately 25% [5][8] - Net profit attributable to shareholders is expected to increase from 2.04 billion yuan in 2023 to 3.98 billion yuan in 2025, reflecting a CAGR of about 25% [5][8] - The company's gross margin is forecasted to remain stable, with slight improvements from 43.1% in 2023 to 45.4% in 2026 [5]

Investment Rating - The report maintains a "Buy" investment rating for the company [7] Core Views - The company is expected to continue its high growth momentum, with significant revenue and profit increases projected for 2024 [5][6] - The company is expanding its market presence both domestically and internationally, with plans to establish new production facilities in Southeast Asia and Hainan [6] Summary by Sections Financial Performance - The company forecasts total revenue for 2024 to be between 157.20 billion and 161.00 billion yuan, representing a year-on-year growth of 39.57% to 42.95% [5] - The expected net profit attributable to shareholders is projected to be between 31.50 billion and 34.50 billion yuan, with a year-on-year increase of 54.43% to 69.14% [5] - For Q4 2024, total revenue is anticipated to be between 31.62 billion and 35.42 billion yuan, reflecting a growth of 20.59% to 35.08% [5] Growth Drivers - The company plans to add 200,000 to 400,000 new retail outlets and increase promotional activities to boost sales [6] - A significant investment of 1.2 billion yuan is planned for a new production facility in Hainan, aimed at meeting future demand in the region [6] Earnings Forecast - The report adjusts the company's EPS estimates for 2024-2026 to 6.35, 8.58, and 10.97 yuan respectively, with corresponding PE ratios of 39, 29, and 23 times [7] - The company is expected to maintain a strong market share in the energy drink sector and continue the growth of its electrolyte water line [7] Key Financial Metrics - The company’s main revenue for 2024 is projected at 159.12 billion yuan, with a growth rate of 41.3% [10] - The net profit for 2024 is expected to be 3.30 billion yuan, indicating a growth rate of 61.8% [10] - The return on equity (ROE) is forecasted to be 41.4% for 2024 [10]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is expected to achieve a revenue of 157.2 to 161.0 billion yuan in 2024, representing a year-on-year growth of 40% to 43%. The net profit attributable to the parent company is projected to be between 31.5 to 34.5 billion yuan, indicating a year-on-year increase of 54% to 69% [2][3] - The fourth quarter of 2024 is anticipated to see revenue of 31.6 to 35.4 billion yuan, with a year-on-year growth of 20.6% to 35.1%. The net profit for this quarter is expected to be between 4.4 to 7.4 billion yuan, showing a year-on-year increase of 15.2% to 93.3% [2][3] Financial Performance Summary - For 2024, the company forecasts total revenue of 16,017 million yuan, a 42.21% increase from the previous year. The net profit attributable to the parent company is expected to reach 3,351 million yuan, reflecting a 64.31% year-on-year growth [1][10] - The earnings per share (EPS) for 2024 is projected to be 6.45 yuan, with a price-to-earnings (P/E) ratio of 38.29 based on the latest diluted figures [1][10] - The company has shown strong cash flow, with operating cash flow expected to be 5,152 million yuan in 2024, indicating robust financial health [10] Market Position and Strategy - The company is expanding its domestic production capacity and has a long-term vision for overseas market growth, positioning itself as a leading beverage brand in new first-tier cities [9] - The report highlights the company's proactive channel and terminal strategies, with a focus on enhancing brand strength and expanding its product matrix [9]

Core Viewpoint - Dongpeng Beverage is expected to achieve significant growth in 2024, with projected revenue between 15.72 billion to 16.10 billion yuan, representing a 40% to 43% increase, and a net profit between 3.15 billion to 3.45 billion yuan, indicating a year-on-year growth of 54% to 69% [1] Group 1: Financial Performance - The company anticipates a strong increase in cash receipts from sales, exceeding 20 billion yuan in 2024, marking a significant milestone in its financial management and market operations [1] - Dongpeng's core product, Dongpeng Energy Drink, is projected to surpass 10 billion yuan in sales in 2024, solidifying its leading position in the energy drink market [2] - The "Brew Water" product line has shown remarkable growth, achieving revenue of 1.211 billion yuan in the first three quarters of 2024, a year-on-year increase of 292.11% [2] Group 2: Market Strategy - The company is accelerating its national expansion strategy, with ongoing construction of production bases in multiple locations including Tianjin, Changsha, Zhongshan, and Kunming, and plans for a new base in Hainan [4] - Dongpeng Beverage has established partnerships with 2,993 distributors and successfully penetrated over 3.6 million active retail outlets, reaching more than 210 million consumers [5] - The company is leveraging digital marketing strategies to enhance channel efficiency and activate terminal outlets, significantly supporting its revenue growth [5] Group 3: International Expansion - Dongpeng Beverage is planning to enter the Southeast Asian market, adjusting its products to cater to local consumer preferences, and intends to establish a subsidiary in Indonesia [6] - The company's international strategy aims to open new growth avenues and enhance its global brand presence [6]

公司在夯实东鹏特饮基本盘，持续保持稳健增长的基础上，积极探索多品类发展，培育新的增长点，为 公司的持续增长注入了新的活力，从而进一步带动收入的增长。 e公司讯，东鹏饮料(605499)1月20日晚间公告，经财务部门初步测算，预计2024年度实现归属于母公司 所有者的净利润在31.5亿元到34.5亿元之间，与上年同期相比，增幅为54%到69%。 ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 3,150 million and 3,450 million CNY, an increase of 1,110 million to 1,410 million CNY compared to the previous year, representing a growth of 54% to 69%[3] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between 3,070 million and 3,370 million CNY, an increase of 1,200 million to 1,500 million CNY compared to the previous year, indicating a growth of 64% to 80%[3] - The company anticipates operating revenue for 2024 to be between 15,720 million and 16,100 million CNY, reflecting a year-on-year increase of 4,457 million to 4,837 million CNY, which corresponds to a growth rate of 40% to 43%[8] - The net profit for the previous year was 2,039 million CNY, and the net profit after deducting non-recurring gains and losses was 1,870 million CNY[6] Cash Flow and Sales Strategy - The company has received over 20 billion CNY in cash from sales during the performance forecast period[8] - The company is focusing on a nationwide strategy and enhancing channel management to drive sales growth[8] Performance Forecast Reliability - There are no significant impacts from non-operating gains and losses on the company's performance[9] - The company confirms that there are no major uncertainties affecting the accuracy of this performance forecast[12] - The data provided is preliminary and subject to final confirmation in the official 2024 annual report[13] - The company has not identified any other factors that would significantly impact the performance forecast[11]

东鹏饮料在医疗公益方面投入了大量资源。自2017年以来，东鹏饮料持续支持韩红爱心"百人医疗援 助"公益行动，深入全国多个省份，致力于提升乡村基层的医疗水平，已累计捐赠10座急救室、11所复 明中心、80辆救护车等医疗设施。2024年，东鹏饮料在"韩红爱心·百人援吉"大型义诊公益行动中，向 吉林省捐赠了关键医疗设备，并组织专业医疗团队开展义诊活动，为基层医务工作者和当地居民提供了 切实有效的医疗支持。 在当今商业社会，企业的发展不仅仅局限于追求经济效益，更应主动承担起相应的社会责任，助力社会 治理，推动社会进步。东鹏饮料（605499.SH）作为国内知名的饮料品牌，以低调务实的作风，在企业 发展的同时，积极投身公益事业，成为行业内的典范。 东鹏饮料低调务实，现总部位于一工业区的五层楼房内的一、二、三层，办公面积相对较小，周围环境 也较为朴素。然而，正是在这样简朴的办公环境中，东鹏饮料凭借对品质的坚守和对创新的执着，不断 发展壮大。公司没有将大量资金用于豪华办公场所的打造，而是将资源更多地投入到产品研发、市场拓 展以及公益事业中。 东鹏饮料作为一家具有深厚社会责任感的民族企业，多年来始终秉持"让爱更有能量"的公益 ...

证券代码：605499 证券简称：东鹏饮料 公告编号 2024-101 会议由监事会主席余斌先生主持。会议召开符合有关法律、法规、规章和《公 司章程》的规定。 二、监事会会议审议情况 （一）审议通过《关于与广东东鹏饮料有限公司合资设立印尼公司的议案》 监事会认为：公司与全资子公司广东东鹏饮料有限公司合资设立印尼公司， 主要围绕软饮料的生产与贸易开展业务，致力于拓宽公司海外市场业务，符合公 司业务发展需求，不会影响公司生产经营活动的正常运作，不会导致公司主营业 务发生重大变化，不存在损害公司和全体股东利益的情形。 东鹏饮料（集团）股份有限公司 第三届监事会第十一次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 东鹏饮料(集团)股份有限公司（以下简称"公司"）第三届监事会第十一次 会议于 2024 年 12 月 13 日（星期五）在公司二楼 VIP 会议室以现场结合通讯的 方式召开。会议通知已于 2024 年 12 月 09 日通过通讯方式送达各位监事。本次 会议应出席监事 3 人，实际出席监 ...

证券代码：605499 证券简称：东鹏饮料 公告编号：2024-102 东鹏饮料（集团）股份有限公司 关于与广东东鹏饮料有限公司合资设立印度尼西亚公司的 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。 重要内容提示： 本次对外投资事项不构成关联交易，不构成重大资产重组情形。本次投资 已经由公司第三届董事会第十二次会议审议通过，本次对外投资事项在董事会权 限范围内，无需提交公司股东大会审议。 风险提示：本次对外投资尚需履行国内境外投资备案或审批手续，以及印 度尼西亚当地投资许可和企业登记等审批程序，尽管目前评估不存在重大法律障 碍，但依然存在不能获得相关主管部门批准的风险，本次对外投资能否顺利实施 存在一定的不确定性。 一、对外投资概述 （二）审议和表决情况 公司于 2024 年 12 月 13 日召开的第三届董事会第十二次会议审议通过《关 于与广东东鹏饮料有限公司合资设立印尼公司的议案》，具体内容详见公司于 2024 年 12 月 14 日在上海证券交易所网站披露的《东鹏饮料（集团）股份有限 公司关于与广东东鹏饮料有限公 ...