Group 1 - The main consumption index (000932) has shown a slight increase of 0.14% as of May 27, 2025, with notable gains in stocks such as Yanjing Beer (2.89%) and Angel Yeast (2.85%) [1] - The major consumption ETF (159672) has risen by 4.04% over the past three months, indicating a positive trend in consumer sector investments [1] - Huatai Securities expresses optimism regarding the food and beverage industry during the economic transition towards consumption, supported by clear policies and steady growth in retail sales [1] Group 2 - The major consumption ETF closely tracks the main consumption index and is categorized into 11 primary and 35 secondary industries, providing a comprehensive analysis tool for investors [2] - Since its inception, the major consumption ETF has achieved a maximum monthly return of 24.35% and an average monthly return of 5.36% [2] - The current price-to-earnings ratio (PE-TTM) of the major consumption index is 19.75, indicating a valuation lower than 95.63% of the past year, suggesting historical low valuations [2] Group 3 - As of April 30, 2025, the top ten weighted stocks in the main consumption index account for 67.16% of the total index, with Yili (10.39%) and Kweichow Moutai (10.39%) being the largest contributors [3] - The top ten stocks include notable companies such as Wuliangye and Moutai, reflecting the concentration of market weight in a few key players [3][5]

证券代码：605499 证券简称：东鹏饮料 公告编号：2025-037 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：中银理财有限责任公司、信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； 2.本次委托理财金额：合计 82,000.00 万元； 3.委托理财产品类型：理财； 4.委托理财期限：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 2025 年 3 月 7 日召开第三届董事会第十三次会议和第三届监事会第十二次会 议及 2025 年 4 月 2 日召开 2024 年年度股东大会，分别审议通过了《关于 2025 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提下，使用不超过人民币 110 亿元的 范围内择机购买理财产品，购买原则为安全性高、流动性好，使用期限自 2024 年年度股东大会审 ...

从中证全指食品、饮料与烟草指数持仓的市场板块来看，上海证券交易所占比61.18%、深圳证券交易 所占比38.82%。 从中证全指食品、饮料与烟草指数持仓样本的行业来看，白酒占比46.70%、乳制品占比12.47%、调味 品与食用油占比12.08%、其他食品占比7.99%、软饮料占比6.64%、啤酒占比4.75%、休闲食品占比 4.09%、肉制品占比3.26%、葡萄酒及其他占比1.22%、黄酒占比0.81%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数样 本随之进行相应调整。在样本公司有特殊事件发生，导致其行业归属发生变更时，将对中证全指行业指 数样本进行相应调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形 的处理，参照计算与维护细则处理。 据了解，为反映中证全指指数样本中不同行业公司证券的整体表现，为投资者提供分析工具，将中证全 指指数样本按中证行业分类 ...

Core Viewpoint - Dongpeng Beverage's ESG rating has been upgraded from BB to A, reflecting significant progress in environmental, social, and governance aspects [1] Economic Performance - In 2024, Dongpeng Beverage achieved a revenue of 15.839 billion yuan, a year-on-year increase of 40.63% - The net profit attributable to shareholders reached 3.327 billion yuan, growing by 63.09% - The company has ranked first in China's functional beverage market for four consecutive years, with market share increasing from 15.0% in 2021 to 26.3% in 2024 - Continuous product innovation and market expansion have led to the successful launch of several popular new products, significantly boosting performance [1] Environmental Performance - Dongpeng Beverage actively supports the national "dual carbon" goals by promoting green production and optimizing production processes - In 2024, the company generated 25,000 MWh of solar power, reducing carbon dioxide emissions by 20,500 tons - The greenhouse gas emissions per unit of production decreased by 9.59% compared to 2023 - The company has optimized packaging materials by using environmentally friendly and biodegradable materials [2] Governance Performance - A comprehensive three-tier governance structure has been established, ensuring scientific and transparent operations - In 2024, the company published a total of 104 regular and interim reports and held over 140 investor communication events - Dongpeng Beverage distributed cash dividends of 1 billion yuan for the 2023 fiscal year and has cumulatively distributed 4 billion yuan in cash dividends from 2021 to 2024 - The company plans to distribute 1.3 billion yuan in cash dividends for the 2024 fiscal year, demonstrating a commitment to shareholder interests [2] Social Performance - Dongpeng Beverage emphasizes employee rights protection and career development, providing training to enhance employee capabilities - In 2024, the company invested 38.3586 million yuan in donations and public welfare projects, supporting grassroots healthcare, rural education, and disaster relief efforts - The company invested 6.26713 million yuan in research and development, obtaining 23 new patents, bringing the total to 104 patents - Collaboration with research institutions and universities has led to multiple R&D projects focused on health beverage innovation [3] Sustainable Development - Dongpeng Beverage's deep commitment to sustainable development serves as a reference model for the beverage industry - The company's ongoing efforts in economic, environmental, social, and governance areas are expected to strengthen its foundation for development and lead the industry towards a balance of economic and social benefits [4]

转自：新华财经 新华财经北京5月25日电（记者沈寅飞）日前，2024年度"中联上市公司价值100"（以下简称"中联百 强"）榜单出炉。该榜单由中联企业管理集团有关专家组成的上市公司业绩评价课题组推出，至今已是 连续第24年发布。同期还首次发布了"中国人工智能产业分析报告""数据资产上市公司分析报告"及有关 民营上市公司的分析评价等。 据介绍，此次榜单凸显"先进制造与AI创新赋能新质生产力""民营企业高质量发展""培育壮大新型消 费"等亮点。从综合评价来看， 云铝股份以综合得分91.59获得第一，华利集团、北新建材、中远海控等 上市公司紧随其后。 2024年度中联百强中，制造业以67家上市公司持续保持领先，其中先进科技制造企业明显增多，集中在 新能源、半导体与AI硬件、电子制造、创新药与医疗器械等领域，形成一批高增长潜力股。如在新能 源领域，以比亚迪、赛力斯为代表的电动车企和以阳光电源、德业股份为代表的光伏与储能企业实现快 速增长，并达到中国品牌出海新高度。在创新药与医疗领域，百利天恒首款国产SL-B01D1 （EGFR/HER3双抗）进入临床III期，惠泰医疗等上市公司加快医疗设备国产替代进程。在电子制造、 ...

Investment Rating - The report does not explicitly state an investment rating for the company Core Insights - The major shareholder, Kunpeng Investment, has reduced its holdings significantly, cashing out a total of 19.08 billion from March 14 to May 21, 2025, with a total reduction of 74 billion over two years [3][6][15] - Despite the stock price reaching a new high, the first quarter report reveals two concerning signals: a decline in contract liabilities and cash flow [17][26] Summary by Sections Shareholder Actions - Kunpeng Investment, the third-largest shareholder, sold 7,167,800 shares during the period, with a total value of 19.08 billion [3][4] - The majority of the reduction was through block trades, accounting for 72.5% of the total shares sold [6][10] Financial Performance - The company reported a revenue increase of 40.6% in 2024, reaching 158.4 billion, and continued to grow by nearly 40% in the first quarter of 2025, achieving 48.5 billion [17][18] - The net profit for 2024 was 33.3 billion, a year-on-year increase of 63.1%, with the first quarter of 2025 showing a net profit of 9.8 billion, up 47.6% [18][24] Market Position - The company has established itself as a leader in the energy drink sector, with a market share exceeding 40% in 2024 [25] Warning Signals - Contract liabilities, which serve as a leading indicator of revenue, decreased from 47.61 billion at the end of 2024 to 38.70 billion by the end of the first quarter of 2025, indicating a potential slowdown [27][28] - The net cash flow from operating activities fell by 26.53% in the first quarter of 2025, raising concerns about cash collection despite increased sales [30][32]

Summary of Key Points Core Viewpoint - The announcement details the early termination of a share reduction plan by a major shareholder, Kunpeng Investment, and provides insights into the shareholding structure and the results of the share reduction activities [1][2][3]. Shareholder Holding Situation - As of the date of the reduction plan announcement, Kunpeng Investment held 33,487,004 shares of Dongpeng Beverage, representing 6.4396% of the total shares [1][2]. - The shares were acquired prior to the IPO and through capital reserve conversion [1]. Share Reduction Plan Implementation Results - Kunpeng Investment planned to reduce its holdings by up to 7,168,944 shares from March 14, 2025, to May 14, 2025, through centralized bidding and block trading [1]. - During the reduction period, a total of 5,237,800 shares were reduced, equating to a reduction ratio of 1.0072%, leaving Kunpeng Investment with a holding of 5.4324% as of May 14, 2025 [1]. Specifics of the Share Reduction - From March 14, 2025, to May 14, 2025, Kunpeng Investment reduced its holdings by 1,968,000 shares through centralized bidding, which is approximately 0.9999% of the total shares [2]. - As of the announcement date, Kunpeng Investment's remaining shares totaled 26,319,204, representing 5.0613% of the total shares [2]. Early Termination of the Reduction Plan - The share reduction plan was terminated early, with a total of 7,167,800 shares reduced by May 21, 2025, and the reduction price ranged from 254.28 to 293 yuan per share, totaling approximately 1.91 billion yuan [2][3]. - The actual reduction achieved was consistent with the previously disclosed reduction plan, and the decision to terminate was made before the planned end date [3].

证券代码：605499 证券简称：东鹏饮料 公告编号：2025-036 东鹏饮料（集团）股份有限公司 股东提前终止减持计划暨股份减持结果公告 本公司董事会、全体董事及相关股东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。 2025 年 5 月 15 日，公司披露了《东鹏饮料（集团）股份有限公司关于持股 5%以上股东权益变动触及 1%刻度的提示性公告》（公告编号：2025-035），鲲鹏 投资自 2025 年 3 月 14 日至 2025 年 5 月 14 日期间，通过集中竞价及大宗交易方 式累计减持 5,237,800 股股份，减持比例为 1.0072%。截至 2025 年 5 月 14 日， 鲲鹏投资持股比例为 5.4324%。 近日公司收到股东鲲鹏投资发来的《关于减持东鹏饮料（集团）股份有限公 司股份的结果告知函》，鲲鹏投资在自 2025 年 3 月 14 日至 2025 年 5 月 14 日期 间内通过集中竞价方式共计减持公司股份 1,968,000 股，占公司股份总数的 0.3785%；通过大宗交易方式共计减持公司股份 5,199,800 ...

Core Viewpoint - Kunpeng Investment plans to reduce its stake in Dongpeng Beverage by a total of up to 7.1689 million shares, representing no more than 1.38% of the company's total share capital [1] Summary by Relevant Sections Shareholding Changes - As of May 14, 2025, Kunpeng Investment holds a 5.4324% stake in Dongpeng Beverage [1] - Recently, Kunpeng Investment has reduced its holdings by 1.968 million shares through centralized bidding, accounting for 0.3785% of the total shares [1] - Additionally, Kunpeng Investment has reduced its holdings by 5.1998 million shares through block trading, representing 0.9999% of the total shares [1] - Following these transactions, Kunpeng Investment currently holds a total of 26.3192 million shares, which is 5.0613% of the company's total share capital [1]

对于消费赛道的投资者来说，在白酒板块上躺赢的时代正悄然远去。面对新兴消费领域的蓬勃发展，公 募积极拓宽投资边界，重构消费投资方法论。在业内人士看来，在消费投资中，要积极关注消费群体习 惯的变化、渠道的变化等情况，这样才能分享到时代发展的红利。 消费投资扩圈进行时 5月13日，富国消费升级混合基金公告称，为更好地满足投资者的投资需求，提高基金市场竞争力，在 不改变投资目标且遵循被动调整的前提下，拟参照2021年申银万国证券公司对申万一级行业分类的调整 情况，对消费升级主题相关行业的界定进行相应调整。 具体来看，富国消费升级混合基金将美容护理纳入基金界定的消费升级主题。除了补充美容护理行业， 股票投资策略也新增内容——消费升级主题证券池由基金管理人依据合同约定进行编制和审核。 部分资深消费投资基金经理也果断调仓新兴消费股。截至一季度末，泡泡玛特、毛戈平成为银华品质消 费股票基金新进前十大重仓股。 谈及投资策略，银华品质消费股票基金经理张萍表示，在投资上，一方面紧跟时代的变化，另一方面继 续追求构建更有性价比的组合。很多国产品牌逐步走向中高端市场，与外资大牌同场竞技，在美护、日 化、黄金珠宝等领域，出现了一批中高端 ...