证券代码：605499 证券简称：东鹏饮料 公告编号：2025-038 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。 重要内容提示： 1.委托理财受托方：兴业银行股份有限公司、海通期货股份有限公司、中银 理财有限责任公司、华夏银行股份有限公司、北银理财有限责任公司、施罗德交 银理财有限公司； 2.本次委托理财金额：合计 85,000.00 万元； 3.委托理财产品类型：理财、资管计划； 4.委托理财期限：无固定期限、1 年； 在保证公司及子公司日常经营资金需求和资金安全的前提下，为提升资金使 1 用效率，增加公司收益，结合公司经营战略及总体发展计划，公司及其子公司拟 用部分闲置自有资金购买理财产品。 （二）资金来源 此次投资资金为公司闲置自有资金，资金来源合法合规，在保证公司及子公 司正常资金使用计划正常实施和日常经营所需流动资金的前提下实施的。 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 2025 年 3 月 7 日 ...

Core Viewpoint - The Shanghai Composite Index opened high but closed lower, with the CSI 300 Food and Beverage Index reported at 23,349.84 points [1] Group 1: Index Performance - The CSI 300 Food and Beverage Index has decreased by 5.27% over the past month, 2.96% over the past three months, and 4.25% year-to-date [2] Group 2: Index Composition - The CSI 300 Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, with a base date of December 31, 2004, and a base point of 1,000.0 [2] - The top ten weights in the CSI 300 Food and Beverage Index are: Kweichow Moutai (50.79%), Wuliangye (13.2%), Yili (9.98%), Shanxi Fenjiu (4.72%), Luzhou Laojiao (4.66%), Haitian Flavoring (3.82%), Dongpeng Beverage (3.78%), Yanghe Brewery (2.19%), Jinshiyuan (1.75%), and Tsingtao Brewery (1.41%) [2] Group 3: Market Distribution - The market distribution of the CSI 300 Food and Beverage Index shows that the Shanghai Stock Exchange accounts for 76.26%, while the Shenzhen Stock Exchange accounts for 23.74% [2] Group 4: Industry Breakdown - The industry composition of the CSI 300 Food and Beverage Index includes: Baijiu (78.63%), Dairy Products (9.98%), Condiments and Cooking Oils (4.81%), Soft Drinks (3.78%), Beer (1.41%), and Meat Products (1.40%) [3] Group 5: Sample Adjustment - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [3] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples [3]

Core Insights - In 2024, China's total retail sales of consumer goods reached 48.79 trillion yuan, growing by 3.5%, marking the first time it fell below the GDP growth rate of 5% [1] - The fast-moving consumer goods (FMCG) industry is transitioning into a phase dominated by "stock competition," focusing on efficiency improvement, brand optimization, and structural adjustments [1] FMCG Company Performance - **Master Kong**: Achieved revenue of 806.51 billion yuan, a slight increase of 0.30%, with net profit rising by 19.80% to 37.34 billion yuan [2][6] - **Nongfu Spring**: Reported revenue of 428.96 billion yuan, up by 0.50%, and net profit of 121.23 billion yuan, a marginal increase of 0.40% [2][6] - **Uni-President**: Generated revenue of 303.32 billion yuan, a growth of 6.09%, with net profit of 18.49 billion yuan, increasing by 10.90% [2][6] - **China Foods**: Recorded revenue of 214.92 billion yuan, up by 0.20%, and net profit of 8.61 billion yuan, a growth of 3.40% [2][6] - **Eastroc Beverage**: Achieved significant growth with revenue of 158.39 billion yuan, up by 40.63%, and net profit of 33.27 billion yuan, increasing by 63.09% [2][6] - **Three Squirrels**: Reported revenue of 106.22 billion yuan, a substantial increase of 49.30%, with net profit rising by 85.51% to 4.08 billion yuan [2][6] Industry Trends - The FMCG sector is experiencing a shift towards efficiency and brand optimization as the era of rapid market growth driven by demographic dividends comes to an end [1] - Companies are adapting to market changes through product innovation, structural optimization, and brand rejuvenation to establish new growth curves and core competitiveness [13] - The beverage segment is seeing strong performance from Nongfu Spring's tea drinks, which have become a major revenue source despite challenges in the bottled water segment [8][13] - The snack segment is witnessing varied performance, with companies like Qinqin Foods achieving profitability through export and OEM manufacturing, while others like Liuyifei face challenges due to strategic adjustments [13] Dairy Industry Performance - **Yili Group**: Maintained its position as Asia's leading dairy company with revenue of 1,157.80 billion yuan, despite a decline of 8.24% [15][16] - **Mengniu Dairy**: Experienced a revenue drop of 10.09% to 886.75 billion yuan, with net profit significantly declining by 97.83% [15][16] - **Bright Dairy**: Reported revenue of 242.78 billion yuan, down by 8.33%, and net profit of 7.22 billion yuan, a decrease of 25.36% [15][16] - The dairy industry is facing challenges with supply-demand imbalances and declining consumer demand, leading to revenue declines for many traditional dairy giants [18]

Investment Rating - The report does not explicitly provide an investment rating for the fast-moving consumer goods (FMCG) industry. Core Insights - The FMCG industry is increasingly integrating ESG (Environmental, Social, and Governance) factors into its operations, driven by global sustainability trends and regulatory pressures [11][18][23]. - ESG practices are becoming essential for competitive advantage, as companies with strong ESG performance are likely to achieve higher valuations and attract more investment [24][99]. - The report highlights several case studies of FMCG companies successfully implementing ESG strategies, such as Coca-Cola's transition to transparent bottles and Dongpeng Beverage's sustainable practices [34][40][92]. Summary by Sections ESG Overview - ESG stands for Environmental, Social, and Governance, representing a framework for integrating sustainability into business practices [6][9]. - The concept has evolved from traditional corporate social responsibility (CSR) to a more quantifiable and investment-driven approach [14]. Current Status of ESG in the FMCG Industry - The FMCG sector is responding to national "dual carbon" goals by adopting energy-saving measures and sustainable packaging [18][20]. - There is a growing trend of ESG investment, with investors increasingly focusing on companies' ESG performance [23][24]. - As of April 30, 2023, the ESG report disclosure rate among A-share listed companies in the beverage and refined tea manufacturing sector was 57.14%, surpassing the overall industry level [26][27]. ESG Challenges Faced by the FMCG Industry - Many FMCG companies lack a unified ESG data management system, leading to difficulties in data accuracy and analysis [56][58]. - Companies face regulatory compliance challenges due to multiple ESG standards, which can increase operational costs [62][64]. - The initial investment in ESG practices can be substantial, with long payback periods, creating financial pressure [67][68]. ESG Response Strategies for the FMCG Industry - Companies should establish unified ESG data platforms to enhance data management and decision-making capabilities [77][80]. - It is recommended to adopt third-party certifications to improve the credibility of ESG practices [81][82]. - FMCG companies should balance short-term financial performance with long-term ESG investments to ensure sustainable growth [87]. Impact of ESG on the FMCG Industry - Positive ESG practices can enhance brand image and consumer perception, as seen with Coca-Cola's packaging changes [92]. - Companies that actively engage in ESG initiatives can improve their market competitiveness and operational efficiency [99]. - ESG practices can also drive new market opportunities, particularly in the growing segment of sustainable products [100]. Future Trends and Recommendations for ESG - ESG will become a necessity for business survival as regulatory frameworks tighten and consumer awareness increases [107]. - The integration of digital technologies will enhance ESG capabilities, allowing for better data management and analysis [108]. - FMCG companies should tailor their ESG strategies to local market conditions and consumer preferences to maximize impact [119][120].

Core Viewpoint - The short-term outlook for the new consumption sector is optimistic due to seasonal demand and restaurant catalysts, with Q2 expected to see rapid growth from a low base [1] Group 1: Market Performance - As of June 6, 2025, the CSI Major Consumption Index (000932) decreased by 0.24%, with mixed performance among constituent stocks [1] - Dongpeng Beverage (605499) led the gainers with an increase of 2.84%, while Guibao Pet (301498) experienced the largest decline at 3.45% [1] - The Major Consumption ETF (159672) rose by 0.26%, closing at 0.78 yuan [1] Group 2: Sector Insights - The new consumption sector is expected to benefit from seasonal demand and restaurant catalysts, with key factors for success being emotional consumption, price-quality ratio, and health trends [1] - The snack sector continues to show strong performance, with positive feedback on new products launched in major retail channels [1] - New channels are driving demand for innovative products and higher supply chain efficiency, presenting opportunities for companies that can quickly respond to market trends [1] Group 3: ETF Performance - The Major Consumption ETF has achieved a maximum monthly return of 24.35% since inception, with an average monthly return of 4.87% [2] - As of June 5, 2025, the ETF's maximum drawdown this year was 5.57%, compared to a benchmark drawdown of 0.34% [3] Group 4: Valuation Metrics - The Major Consumption ETF has a management fee of 0.50% and a custody fee of 0.10%, which are among the lowest in comparable funds [4] - The latest price-to-earnings ratio (PE-TTM) for the CSI Major Consumption Index is 19.65, indicating a valuation lower than 96.81% of the time over the past year [4] - The top ten weighted stocks in the CSI Major Consumption Index account for 67.15% of the index, with notable companies including Yili (600887) and Kweichow Moutai (600519) [4]

Summary of Key Points Core Viewpoint - The June stock recommendations from 42 brokerage firms show a significant increase in the number of recommended stocks, with the pharmaceutical and biotechnology sector returning to the top of the industry recommendation rankings after three years, indicating a renewed market interest in cyclical industries [1][3]. Stock Recommendations - A total of 332 stocks received 457 recommendations, with 42 stocks from the ChiNext gaining 53 recommendations, 45 stocks from the STAR Market receiving 59 recommendations, and 43 Hong Kong stocks getting 62 recommendations, marking an increase of 6 and 7 stocks respectively compared to the previous month [1]. - Six stocks received recommendations from five brokerage firms: China Merchants Bank, Yara International, Smoore International, SF Holding, Qingdao Beer, and Haida Group [1]. - Six stocks received recommendations from four brokerage firms: Zijin Mining, China Mobile, Zhenhua Heavy Industries, Tencent Holdings, Hangzhou Bank, and Dongpeng Beverage [1]. Industry Rankings - The pharmaceutical and biotechnology sector achieved a recommendation rate of 10.2%, reclaiming the top position, while the electronics sector fell to second place with a recommendation rate of 9.3% [3]. - The food and beverage sector ranked third with a recommendation rate of 6.58%, and the machinery equipment sector ranked fourth with a rate of 6.35% [3]. - The coal industry saw a significant increase in recommendation rate by 59.6%, while the transportation sector increased by 52.1%, indicating a positive outlook for these industries [3]. Declining Industry Interest - The retail trade sector experienced a notable decline in recommendation rate by 43.17%, attributed to renewed trade tensions and previous excessive price increases [4]. - The defense and military industry saw a decrease of 34.77%, mainly due to the easing of the Russia-Ukraine situation [4]. - The automotive sector's recommendation rate dropped by 30.99%, reflecting concerns over industry competition [4]. Performance of Brokerage Recommendations - In May, 30 out of 45 brokerage firms reported positive returns, with the top performers being Guoyuan Securities (6.28%) and Caitong Securities (5.93%) [5][6]. - As of May 30, 36 out of 45 brokerage firms had positive returns for the year, with 16 firms achieving returns close to or exceeding 10% [6]. Market Outlook - Analysts suggest that June will see continued improvement in returns and win rates, with a focus on large-cap growth stocks, although the market is expected to remain volatile [7]. - The market sentiment has been affected by fluctuating U.S. tariff policies and slow progress in U.S.-China trade negotiations, which are key factors influencing market risk appetite [7].

Core Viewpoint - The monthly stock recommendations from brokerage firms reflect a comprehensive judgment on macroeconomic conditions, industry trends, and individual stock values, serving as an important reference for investors to observe market directions [1] Group 1: Market Analysis - As of June 2, 23 brokerage firms have released their assessments for the A-share market in June, with a total of 157 stocks included in the June "golden stock" list [2] - The top three industries represented in the recommendations are machinery and equipment, electronics, and pharmaceuticals, with 17, 14, and 13 stocks respectively [2] - East Wu Securities indicates that while U.S. tariff disruptions continue, their impact on the market is marginally weakening, suggesting that the overall impact on A-shares is controllable [2] - Zhongtai Securities anticipates some pressure in the market for June but expects a solid bottom, with potential upward options for A-shares in the medium term [2] Group 2: Stock Recommendations - A total of 21 stocks received recommendations from two or more brokerage firms, with Yara International (000893) and Dongpeng Beverage (605499) leading with four recommendations each [3] - Yara International's strengths include a recovering potassium fertilizer industry, successful expansion in production, and favorable tax policies [3] - Dongpeng Beverage reported a first-quarter revenue of 4.85 billion yuan, a year-on-year increase of 39.2%, and a net profit of 960 million yuan, up 53.5% year-on-year [3] Group 3: Performance Metrics - All 21 stocks on the June golden stock list reported profits in the first quarter, with 13 stocks showing a net profit growth of over 10% [4] - Yara International and Wanma Technology both saw their net profits double year-on-year [4] - Wanma Technology's first-quarter revenue grew by 78.24%, with a net profit increase of 237.89%, driven by growth in communication and vehicle networking businesses [4] - Juhua Co. achieved a net profit of 808 million yuan in the first quarter, a 160.64% increase, with a focus on high-quality development in pharmaceutical packaging [4]

Group 1 - Dongpeng Beverage, known as the "first stock of energy drinks" in A-shares, saw its stock price rise by 6.3% to 311.47 yuan per share, reaching a historical high and a total market value of 162 billion yuan [1] - In contrast, the traditional liquor brand Yanghe Co. experienced a decline of 1.08%, with its stock price hitting a five-year low and a market value dropping below 100 billion yuan [1] - Year-to-date, Yanghe Co.'s stock price has fallen by 19.14%, ranking among the largest declines in the liquor sector [1] Group 2 - Within the liquor sector, only Shanxi Fenjiu and Kweichow Moutai have recorded increases in stock prices, with gains of 3.44% and 0.85% respectively [2] - As of May 28, only a few companies in the liquor sector, including Kweichow Moutai, Wuliangye, Shanxi Fenjiu, and Luzhou Laojiao, have market values exceeding 100 billion yuan [2] - The rise of Dongpeng Beverage indicates a shift in A-share market dynamics, where traditional consumption is declining while new consumption trends, such as beverage and dairy sectors, are gaining traction [2] Group 3 - The rapid increase in the stock price of Kuaijishan is attributed to innovation, including the launch of youth-oriented products and packaging upgrades [3] - Kuaijishan is actively targeting younger consumers by expanding its product offerings and enhancing consumption scenarios [3] - Gu Yue Long Shan, once the "king of yellow wine," is also focusing on product innovation aimed at younger demographics, with new product lines and themed venues [3]

Core Insights - Dongpeng Beverage ranked 363rd in the 2025 GYBrand China's Most Valuable Brands 500 list with a brand value of 24.335 billion yuan, reflecting its comprehensive strength in financial performance, market layout, and social responsibility [1][3][12] Financial Performance - In Q1 2025, Dongpeng Beverage achieved a revenue of 4.848 billion yuan, a 39.23% increase from 3.482 billion yuan in the same period last year, significantly exceeding the GYBrand 500 threshold [4] - The net profit for the same quarter rose to 980 million yuan from 664 million yuan year-on-year, marking a 47.62% increase [4] Market Strategy - Dongpeng Beverage's flagship product, Dongpeng Energy Drink, has maintained the top position in China's energy drink market for four consecutive years, with market share increasing from 43.0% in 2024 to 47.9% [5] - The company has established a nationwide sales network, maintaining a strong presence in first- and second-tier cities while actively expanding into third- and fourth-tier markets [5] Product Diversification - The company successfully launched "Dongpeng Water" as a new billion-level product, generating 570 million yuan in revenue in Q1 2025, a staggering 261.46% increase year-on-year [8] - The revenue contribution from this product rose from 4.53% to 11.76%, showcasing strong brand extension capabilities [8] Marketing Innovation - Dongpeng Beverage employs various marketing strategies, including digital marketing and sports sponsorships, to enhance brand influence, aligning with national pride and sports events [9] - The brand's marketing efforts are designed to resonate with contemporary consumer demands and trends, ensuring continuous brand growth [9] Social Responsibility - The company integrates corporate social responsibility into its development, focusing on environmental protection through green manufacturing strategies and energy-efficient technologies [10][11] - Dongpeng Beverage has engaged in various social welfare initiatives, including medical assistance and educational support, demonstrating its commitment to community welfare [11] Conclusion - Dongpeng Beverage's inclusion in the GYBrand list is a testament to its robust capabilities and future potential, with plans to continue driving innovation and market expansion while fulfilling social responsibilities [12]

智通财经5月28日电，大消费概念持续拉升，新饮料、新零售等方向领涨，欢乐家、乐惠国际、国芳集 团、会稽山、友阿股份、锦泓集团、安正时尚涨停，东鹏饮料涨近5%，续创历史新高，总市值逼近 1600亿。 大消费概念持续走强 欢乐家等多股涨停 ...