Core Viewpoint - Dongpeng Beverage (605499.SH) expects a significant increase in net profit for the year 2025, indicating strong financial performance and growth potential [1] Financial Projections - The company anticipates a net profit attributable to shareholders of the parent company between 4.34 billion and 4.59 billion yuan for 2025, representing an increase of 1.013 billion to 1.263 billion yuan compared to the previous year, with a growth rate of 30.46% to 37.97% [1] - The projected net profit, excluding non-recurring gains and losses, is expected to be between 4.12 billion and 4.35 billion yuan, which reflects an increase of 857.75 million to 1.08775 billion yuan year-on-year, translating to a growth rate of 26.29% to 33.34% [1]

Core Viewpoint - Dongpeng Beverage (605499.SH) announced its 2025 performance forecast, expecting a net profit attributable to shareholders of 4.34 billion to 4.59 billion yuan, representing a growth of 30.46% to 37.97% compared to the previous year [2] Group 1: Financial Performance - The company anticipates a net profit range of 4.34 billion to 4.59 billion yuan for 2025 [2] - This forecast indicates a significant year-on-year growth of 30.46% to 37.97% [2] Group 2: Strategic Initiatives - The company will continue to adhere to the strategy of "sales-driven management" [2] - It aims to advance its national strategy through refined channel management and enhanced channel operation capabilities [2] - The company is focusing on strengthening its two main product categories, Dongpeng Special Drink and Dongpeng Hydration, while actively exploring multi-category development to cultivate new growth points [2]

预计 2025 年年度实现归属于母公司所有者的扣除非经常性损益后的净利润为412,000万元到435,000万 元，与上年同期（法定披露数据）相比，将增加85,775万元到108,775万元，增幅为26.29%到33.34%。 格隆汇1月13日丨东鹏饮料(605499.SH)公布，经财务部门初步测算，预计2025年年度实现归属于母公司 所有者的净利润在43.4亿元到45.9亿元之间，与上年同期（法定披露数据）相比，将增加10.13亿元到 12.63亿元，增幅为30.46%到37.97%。 ...

证券代码：605499 证券简称：东鹏饮料 公告编号：2026-001 东鹏饮料（集团）股份有限公司 2025 年年度业绩预增公告 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： 业绩预告的具体适用情形：其他情形。 业绩预告相关的主要财务数据情况： 1、经财务部门初步测算，预计 2025 年年度实现归属于母公司所有者的净利 润在 434,000 万元到 459,000 万元之间，与上年同期（法定披露数据）相比，将 增加 101,329 万元到 126,329 万元，增幅为 30.46%到 37.97%。 2、预计 2025 年年度实现归属于母公司所有者的扣除非经常性损益后的净利 润为 412,000 万元到 435,000 万元，与上年同期（法定披露数据）相比，将增加 85,775 万元到 108,775 万元，增幅为 26.29%到 33.34%。 一、本期业绩预告情况 2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况 （一）业绩预告期间 1.经财务部门初步测算，预计 20 ...

东鹏饮料公告，预计2025年年度实现归属于母公司所有者的净利润在43.4亿元到45.9亿元之间，与上年 同期相比，将增加10.13亿元到12.63亿元，增幅为30.46%到37.97%。预计2025年年度实现归属于母公司 所有者的扣除非经常性损益后的净利润为41.2亿元到43.5亿元，与上年同期相比，将增加8.58亿元到 10.88亿元，增幅为26.29%到33.34%。业绩预告期间内，公司预计实现营业收入207.6亿元到211.2亿元， 与上年同期158.39亿元相比，同比增长49.21亿元到52.81亿元，增幅为31.07%到33.34%。 ...

Summary of the Conference Call on China Consumer Sector Outlook 2026 Industry Overview - The focus is on the **China consumer sector** with an emphasis on stock picking strategies for 2026E, balancing "value" vs "growth" investments [1][11] - Anticipation of a less inflationary environment and low expectations for immediate consumption boosts from government policies [1][11] Key Investment Themes 1. **Shift Towards Experience/Service Consumption** - Consumers are increasingly valuing emotional experiences over basic needs, seeking happiness and self-expression [2][23] - 66% of respondents in a survey indicated a willingness to spend more for special moments [23] - Notable examples include Pop Mart's affordable entertainment options and Haidilao's casual dining as social venues [2][23] 2. **Focus on Well-being** - Increased spending on wellness, including health, fitness, and nutrition [3] - Growth potential identified in sportswear (Anta), health supplements (H&H), beauty care (Mao Geping), and tourism (Atour) [3] 3. **Rising "Silver" Economy** - The aging population is creating demand for leisure and cultural experiences [4] - Industries like tourism (Atour, H World), sportswear (Anta), and health supplements (H&H) are expected to benefit [4] 4. **Emerging New Channels** - Growth in omni-channel operations and new offline channels such as membership stores and snack specialty chains [5] - Food companies like Eastroc and Nongfu are adapting to these changes [5] 5. **Multi-brand Strategy** - Industry leaders are expanding brand portfolios to meet diversified consumer demands [6] - Companies like Anta and Midea are revising growth targets to ease channel inventory pressure [6] Top Buys in Consumer Sector - **Consumer Discretionary**: Anta (2020.HK), Pop Mart (9992.HK), Haidilao (6862.HK), Atour (ATAT.O), Midea (300.HK) [1][14] - **Consumer Staples**: CR Beer (291.HK), Eastroc (605499.SS), Mao Geping (1318.HK) [1][14] Additional Insights - The report emphasizes the importance of sustainable profit growth amid a dynamic marketplace [1][11] - The analysis includes a pecking order of various consumer sub-sectors, highlighting the relative strengths of companies within those sectors [1][14] - The report also notes the potential for companies like Li Ning and Haitian to outperform in case of a better-than-expected recovery in consumption [1] Conclusion - The China consumer sector is poised for a transformation driven by changing consumer preferences towards emotional and experiential consumption, with significant opportunities identified across various industries and companies. The focus on well-being, the aging population, and the emergence of new channels are critical factors influencing investment strategies for 2026E [1][2][3][4][5][6]

Investment Rating - The industry investment rating is "Positive" and is maintained [8] Core Viewpoints - The liquor sector is currently experiencing a phase of "supply optimization and weak demand recovery," with inventory destocking ongoing in Q4. Short-term price recovery is expected due to controlled supply from Moutai, with attention on Spring Festival sales and inventory movement [2][5] - The demand for mass-market products is expected to show marginal improvement, with January anticipated to see a strong start due to delayed Spring Festival stocking [2][5] - The report recommends focusing on products with strong seasonal effects and high performance realization, particularly in sectors like leisure snacks, restaurant supply chains, condiments, soft drinks, and dairy products [4][26] Summary by Sections Spring Festival Stocking Strategy - The Spring Festival stocking strategy should focus on products with strong seasonal effects and high performance realization. The timing of the Spring Festival can impact the performance of listed companies, especially in years when it falls later in the calendar [4][15] - Products with clear gifting scenarios and positive market sentiment in specific segments are prioritized for opportunity selection. The continuation of the post-Spring Festival market will depend on actual sales and positive Q1 performance feedback [4][26] CPI Trends - The food CPI has been strengthening since December, surpassing service and overall CPI. This trend is supported by supply clearing in certain items and seasonal demand recovery, which together bolster price improvements [32][34] - The CPI-PPI differential remains positive, supporting the continued improvement in profitability for food manufacturing companies [37] Market Performance Review - Since the beginning of 2026, the food and beverage index has increased by 2.21%, lagging behind the CSI 300, which rose by 2.79%. The performance of the liquor sector has remained stable, while the dairy sector has seen declines [6][40] - Soft drinks and leisure snacks have led the market in terms of growth related to Spring Festival stocking, while dairy and meat products have experienced declines [6][40] Industry Dynamics - The industry is increasingly focused on value deepening and structural optimization. Companies are prioritizing supply-demand balance, healthy pricing systems, and profit structure improvements rather than merely pursuing sales growth [7][46] - Food safety and supply chain resilience remain foundational to brand trust, highlighted by recent global recalls and supply chain disruptions [7][46]

Investment Rating - The report maintains a "Recommendation" rating for the food and beverage industry, indicating an expected increase in the industry index exceeding the benchmark index by more than 5% in the next 3-6 months [26]. Core Insights - The report emphasizes that the remaining brands in the sauce liquor sector will thrive, while mass-market products are expected to benefit from the upcoming Spring Festival [2][8]. - The dairy sector is showing signs of improvement, with a potential rebound in raw milk prices and a narrowing supply-demand gap, which could lead to increased demand for processed dairy products [6]. - The beverage and snack categories are experiencing sustained growth, with specific segments like energy drinks and konjac snacks showing remarkable sales increases despite overall declines in the snack market [6]. - The report highlights a significant shift in the sauce liquor industry, where pricing strategies are becoming more pragmatic, with a new growth level emerging around the 200 yuan price point as lower-tier brands face market exit pressures [6][8]. - The report suggests that leading liquor companies should maintain operational stability during this industry downturn, focusing on balanced investments in base liquor to prepare for future market recovery [8]. Summary by Sections Industry Overview - The food and beverage sector consists of 126 listed companies with a total market capitalization of 44,935.30 billion yuan, representing 3.54% of the market [3]. - The circulating market value stands at 43,859.19 billion yuan, accounting for 4.28% of the total market [3]. Performance Metrics - The absolute performance of the industry over the past month is 1.3%, with a relative performance decline of 2.2% compared to the benchmark [4]. - Over the past 12 months, the industry has seen a relative performance decline of 25.2% [4]. Sector-Specific Insights - Dairy products are expected to benefit from a favorable pricing environment and improved supply dynamics, with major companies actively preparing for the Spring Festival [6]. - The beverage sector is witnessing growth in specific categories, with leading brands launching targeted marketing campaigns for the holiday season [6]. - The sauce liquor market is undergoing a consolidation phase, with a focus on brand strength and market share recovery among leading companies [6][8].

Market Overview - The beverage and dairy sector increased by 0.25% compared to the previous trading day, with Pinwo Food leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] Stock Performance - Notable gainers in the beverage and dairy sector included: - Aluminum Wine Foods (300892) with a closing price of 35.68, up 12.56% and a trading volume of 112,000 shares, totaling 380 million yuan [1] - Huanlejia (300997) closed at 31.80, up 6.32% with a trading volume of 248,700 shares, totaling 763 million yuan [1] - Zhuangyuan Pasture (002910) closed at 12.02, up 4.43% with a trading volume of 245,600 shares, totaling 290 million yuan [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 74.61 million yuan from institutional investors, while retail investors saw a net inflow of 55.31 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Key stocks and their capital flow include: - Pinwo Food (300892) had a net outflow of 44.43 million yuan from institutional investors, with retail investors also showing a net outflow of 26.15 million yuan [3] - Zhuangyuan Pasture (002910) saw a net inflow of 15.69 million yuan from institutional investors, while retail investors had a net outflow of 11.63 million yuan [3] - Knight Dairy (920786) experienced a net inflow of 11.26 million yuan from institutional investors, with a small net inflow from retail investors [3]

东鹏饮料（集团）股份有限公司 2025 年第二次临时股东会会议资料 $$=0\pm\sqrt{4}\pm-\sqrt{3}$$ 东鹏饮料（集团）股份有限公司 2025 年第二次临时股东会 目录 | 2025 | 年第二次临时股东会会议议程 1 | | --- | --- | | 2025 | 年第二次临时股东会会议须知 3 | | 2025 | 年第二次临时股东会会议议案 4 | | | 议案一、关于制定及修改公司内部治理制度的议案 4 | | | 议案二、关于修订《对外投资管理制度（H 股发行并上市后适用）》的议案 5 | | | 议案三、关于修订公司 H 股发行上市后生效的《东鹏饮料（集团）股份有限公司章程 | | | （草案）》的议案 6 | | | 议案四、关于修订《东鹏饮料（集团）股份有限公司章程》的议案 10 | | | 议案五、关于预计 2026-2028 年度日常关联交易额度的议案 14 | 东鹏饮料（集团）股份有限公司 2025 年第二次临时股东会 东鹏饮料(集团)股份有限公司 2025 年第二次临时股东会会议议程 一、会议召开情况 （一）召开时间：2026 年 1 月 16 日（星期五）1 ...