$$=0=\exists\exists\not\exists J\backslash J\exists$$ 东鹏饮料（集团）股份有限公司 2025 年第一次临时股东会 目录 | 2025 | 年第一次临时股东会会议议程 | 1 | | --- | --- | --- | | 2025 | 年第一次临时股东会会议须知 | 3 | | 2025 | 年第一次临时股东会会议议案 | 4 | | | 议案一、关于 2025 | 年半年度利润分配预案的议案 4 | | | | 议案二、关于制定及修改公司内部治理制度的议案 5 | | | 议案三、关于制定及修改公司本次 | H 股发行上市后适用的内部治理制度的议案 6 | | | 议案四、关于修订公司于 | 7 H 股发行上市后生效的公司章程（草案）的议案 | 东鹏饮料（集团）股份有限公司 2025 年第一次临时股东会 东鹏饮料（集团）股份有限公司 2025 年第一次临时股东会会议资料 东鹏饮料(集团)股份有限公司 2025 年第一次临时股东会会议议程 一、会议召开情况 （一）召开时间：2025 年 8 月 11 日（星期一）10:00； （二）召开地点：公司二楼 VI ...

证券之星消息，8月1日饮料乳品板块较上一交易日上涨0.45%，贝因美领涨。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。饮料乳品板块个股涨跌见下表： 从资金流向上来看，当日饮料乳品板块主力资金净流入8208.22万元，游资资金净流出1.73亿元，散户资 金净流入9111.6万元。饮料乳品板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600887 | 伊利股份 | 7761.69万 | 8.13% | -6061.87万 | -6.35% | -1699.82万 | -1.78% | | 605499 | 东鹏饮料 | 7666.34万 | 13.09% | -2062.48万 | -3.52% | -5603.86万 | -9.57% | | 002570 | 贝因美 | 5384.89万 | 1.65% | -4241.84万 | ...

Core Viewpoint - Securities firms have provided "buy" ratings for over 20 A-share listed companies on August 1, focusing on sectors such as food and beverage, batteries, agriculture, computer equipment, power grid equipment, consumer electronics, electricity, software development, and transportation equipment [1] Group 1: Company Ratings and Performance - Dongpeng Beverage received significant attention from securities firms, with 25 reports in the past month, ranking first among stocks promoted by brokers on August 1. The forecast for net profit from 2025 to 2027 is 42.28 billion, 52.14 billion, and 57.45 billion yuan, with corresponding EPS of 8.13, 10.03, and 11.05 yuan, maintaining a "buy" rating [4] - Contemporary Amperex Technology Co., Ltd. (宁德时代) was the second most promoted stock, receiving 7 reports in the past month. The forecast for net profit from 2025 to 2027 is 662.02 billion, 814.66 billion, and 968.20 billion yuan, with EPS of 14.52, 17.87, and 21.24 yuan, maintaining a dynamic PE of 19.1, 15.5, and 13.0 times [4] - Haida Group (海大集团) ranked third, with 6 reports in the past month. The forecast for net profit from 2025 to 2027 is 50.73 billion, 57.86 billion, and 65.81 billion yuan, with EPS of 3.05, 3.48, and 3.96 yuan, maintaining a "strong buy" rating [5] Group 2: Industry Focus - The sectors that received the most attention from securities firms include food and beverage, batteries, agriculture, computer equipment, power grid equipment, consumer electronics, electricity, software development, and transportation equipment, indicating a diverse interest across various industries [1] - Other companies such as Daotong Technology, Hongfa Co., Ltd., Anker Innovation, Huaneng International, Yonyou Network, Aima Technology, and Tongwei Co., Ltd. also received attention from multiple securities firms in the past month, reflecting a broad interest in the market [5]

Core Viewpoint - The article highlights the strong performance of brokerage "gold stocks" in July, with all 30 brokerage gold stock combinations showing positive returns, indicating a robust recovery in the A-share market [2][9]. Brokerage Performance - Ping An Securities' gold stock combination achieved the highest return of 16.57% in July, followed by Kaiyuan Securities at 13.57% and Caitong Securities at 12.93% [3][9][10]. - Notably, all brokerage gold stock combinations recorded positive returns, with several brokerages, including China Merchants Securities and Galaxy Securities, also exceeding 10% returns [9][10]. Top Performing Stocks - The best-performing stock was Kangchen Pharmaceutical, recommended by Ping An Securities, which surged by 106.74% in July [4][6]. - Other notable stocks included Borui Pharmaceutical (82.05%), Kangfang Biotech (68.13%), and Yuandong Biotech (56.60%), all showing significant monthly gains [6][7]. August Strategy - Brokerages are adopting an aggressive strategy for August, focusing on technology growth stocks and cyclical stocks benefiting from mid-year performance reports [12][15]. - The market outlook is optimistic, driven by expectations of recovering corporate ROE and a favorable policy environment, suggesting a continued upward trend in A-shares [15]. Common Recommendations - Several stocks received multiple recommendations from brokerages for August, including Dongfang Caifu, Muyuan Foods, and Wanhua Chemical, each recommended by four different brokerages [16][19]. - The rationale for recommending Dongfang Caifu includes the potential for the securities sector to enter a main upward trend, while Muyuan Foods is recognized for its leading position in the pig farming industry [16][19].

Investment Rating - The investment rating for the company is "Accumulate" (首次) [5] Core Views - The company is a leading player in the functional beverage industry, showing rapid growth in its fundamentals. In the first half of 2025, the company achieved revenue of 10.737 billion yuan, a year-on-year increase of 36.37%, and a net profit attributable to shareholders of 2.375 billion yuan, up 37.22% year-on-year [6] - The product structure is diversifying, with revenue from energy drinks, electrolyte drinks, and other beverages in the first half of 2025 reaching 8.361 billion yuan, 1.493 billion yuan, and 877 million yuan respectively, with year-on-year growth rates of 21.91%, 213.71%, and 66.24% [6] - The company is expanding its energy drink business and the second growth curve "Bushi La" is accelerating. The energy drink segment achieved revenue of 4.46 billion yuan in Q2 2025, a year-on-year increase of 18.77% [6] - The digital management system is a core driver of the company's continuous growth, with a comprehensive digital operation system covering the entire product lifecycle [6] - The company is expected to achieve net profits of 4.34 billion yuan, 5.65 billion yuan, and 7.024 billion yuan from 2025 to 2027, with corresponding year-on-year growth rates of 30.46%, 30.19%, and 24.32% [6] Financial Summary - As of July 31, 2025, the company's closing price is 281.30 yuan, with a total market capitalization of 146,279.66 million yuan and a total share capital of 520.01 million shares [3] - The company's asset-liability ratio is 61.86%, and the net asset per share is 16.80 yuan [3] - The projected revenue for 2025 is 20.886 billion yuan, with a year-on-year growth rate of 31.86% [7] - The projected earnings per share (EPS) for 2025 is 8.35 yuan, with a price-to-earnings (P/E) ratio of 33.70 [7]

华源证券7月31日发布研报称，给予东鹏饮料（605499.SH）增持评级。评级理由主要包括：1）功能饮 料行业龙头，公司基本面快速增长；2）能量饮料主业持续高增，第二曲线"补水啦"加速成长；3）数字 化体系赋能公司多元拓展，强终端掌控能力助力公司平台化发展。风险提示：原材料价格波动，市场竞 争加剧，食品安全问题等。 （文章来源：每日经济新闻） ...

Group 1 - The core viewpoint of the report is that Dongpeng Beverage (605499.SH) is rated as a "buy" due to its steady growth and strong performance in various segments [2] - By Q2 2025, Dongpeng Special Drink is expected to show stable growth, with the share of "Bup Shui La" and other beverages increasing to 24% [2] - All regions are experiencing growth, with North China and online sales seeing revenue growth rates exceeding 50% in Q2 [2] - The company is achieving high-quality development across all channels, with a significant improvement in the quality of distributors [2] - The gross profit margin remains stable, although there has been an increase in expenditure on marketing and promotions [2]

Core Viewpoint - Dongpeng Beverage is positioned as a leading player in the functional beverage industry, demonstrating rapid growth in its fundamentals and aiming for platform development [1][2]. Financial Performance - In the first half of 2025, Dongpeng Beverage achieved revenue of 10.737 billion yuan, a year-on-year increase of 36.37%, and a net profit attributable to shareholders of 2.375 billion yuan, up 37.22% [2]. - For Q2 2025, the company reported revenue of 5.889 billion yuan, a 34.10% increase year-on-year, with a net profit of 1.395 billion yuan, growing by 30.75% [2]. - The revenue breakdown for H1 2025 shows energy drinks, electrolyte drinks, and other beverages generating 8.361 billion yuan, 1.493 billion yuan, and 877 million yuan respectively, with year-on-year growth rates of 21.91%, 213.71%, and 66.24% [2]. Business Segments - The energy drink segment continues to grow, with Q2 2025 revenue reaching 4.46 billion yuan, an 18.77% increase year-on-year, driven by an expanding consumer base and increased consumption frequency [3]. - The electrolyte drink line, branded "Bushi La," has seen significant growth, achieving Q2 2025 revenue of 923 million yuan, a remarkable year-on-year increase of 190.05% [3]. - The "Other Beverages" category generated 503 million yuan in Q2 2025, reflecting a 61.78% growth, with the new product "Guo Zhi Cha" contributing to this success [4]. Digital Transformation and Market Strategy - Dongpeng Beverage has established a comprehensive digital management system that enhances its operational efficiency across marketing, supply chain, and management [4]. - The company has over 3,200 distributors and more than 4.2 million effective outlets, showcasing its extensive market penetration [4]. - The combination of strong digital operations and channel management capabilities is facilitating the company's evolution into a platform-oriented enterprise [4]. Profit Forecast and Valuation - The projected net profits for Dongpeng Beverage from 2025 to 2027 are 4.34 billion yuan, 5.65 billion yuan, and 7.024 billion yuan, with year-on-year growth rates of 30.46%, 30.19%, and 24.32% respectively [5]. - The current price-to-earnings (PE) ratios are estimated at 34, 26, and 21 times for the years 2025, 2026, and 2027 [5]. - The initial coverage rating for the stock is "Buy," reflecting confidence in the company's sustained growth potential [5].

西南证券8月1日发布研报称，给予东鹏饮料（605499.SH）买入评级。评级理由主要包括：1）能量饮 料基本盘稳固，电解质水高歌猛进；2）全国化布局扎实推进，平台化基础持续夯实；3）成本红利与规 模效应共振，费用投放加大。风险提示：全国化推广不及预期、原材料价格大幅波动、食品安全等风 险。 （文章来源：每日经济新闻） ...

25Q2 经销商同比+297 家至3279 家；覆盖420 万家终端网点；2）经销商质量：25Q2 平均经销商规模同 比+22%至179 万元/家。 毛利率基本稳健，费用投放有所增加。1）25Q2 公司毛利率/净利率分别同-0.35/-0.61pct 至 45.70%/23.68%；毛利率基本稳健。2）销售费用率/管理费用率/财务费用率分别同比 +0.50/+0.29/+0.57pct 至14.82%/2.35%/-0.78%；销售费用率增长主要系宣传费用支出以及加大冰柜投入 和薪酬支出；管理费用率增加系薪酬/信息服务费/折旧摊销等支出增加；财务费用率增加系存款利息收 入下降。3）净利率仍受公允价值变动净收益（占营收比重同比+1.26pct）/其他收益（占营收比重同比 +0.48pct）影响。4）现金流方面，25Q2 经营活动现金流净额同比-21%至11 亿元（主要系24 年期末预 收款较多同时支付各项税费增加），销售回款同比+30%至62 亿元，合同负债同比/环比分别+47%/-5% 至36.67 亿元。 事件：25H1 实现收入/归母净利润107.37/23.75 亿元，同比+36.37%/37.22%； ...