证券之星消息，1月5日非白酒板块较上一交易日上涨1.26%，燕京啤酒领涨。当日上证指数报收于 4023.42，上涨1.38%。深证成指报收于13828.63，上涨2.24%。非白酒板块个股涨跌见下表： | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600573 惠泉啤酒 | | 1428.58万 | 13.21% | 108.76万 | 1.01% | -1537.35万 | -14.22% | | 601579 | 会稽山 | 518.79万 | 2.94% | -2250.27万 | -12.76% | 1731.47万 | 9.82% | | 002461 | 珠江啤酒 | 408.31万 | 4.37% | -130.44万 | -1.40% | -277.87万 | -2.97% | | 600238 | *ST椰岛 | 360.42万 | 13.38% | -483.90万 | -17.97% | 12 ...

国泰海通晨报 2026 年 01 月 05 日 国泰海通证券股份有限公司 研究所 [Table_Summary] 1、【宏观研究】：消费复苏动能较强，但投资、生产仍需政策进一步提振。 2、【策略研究】：政策预期、流动性与基本面共振上修，A 股市场有望迎接春季"开门红"。 涨 价信号下，产业景气正在发轫与延续。行情看好的重点在科技、非银、消费。 3、【食品饮料研究】燕京啤酒：公司改革势能强劲，U8 全国化开拓空间仍大、我们预计未来有 望突破 150 万吨，10 元及以上价位单品的布局拓展空间较大，产品结构和盈利有望进一步提升。 [汤蔚翔 Table_Authors] (分析师) 电话：021-38676172 邮箱：tangweixiang@gtht.com 登记编号：S0880511010007 [Table_ImportantInfo] 今日重点推荐 李林芷(分析师) 021-23185646 lilinzhi2@gtht.com S0880525040087 邵睿思(研究助理) 010-83939827 shaoruisi@gtht.com S0880125070011 应镓娴(分析师) 021-2318 ...

（文章来源：证券时报网） 据iFinD统计，截至2025年12月31日，沪深两市共有73股连续5日或5日以上获融资净买入。连续获融资 净买入天数最多的股票是研奥股份，连续14个交易日获净买入；连续获融资净买入天数较多的还有永太 科技、燕京啤酒、三人行、万向钱潮、苏泊尔、环旭电子、海尔智家、晨光股份等股。 ...

南财投研通数据显示，12月29日至1月4日，券商给予上市公司目标价共46次，按最新收盘价计算，目标价涨幅排 名居前的公司有立昂微、复星医药、燕京啤酒，目标价涨幅分别为121.14%、73.65%、58.06%，分别属于半导 体、化学制药、非白酒行业。 600208 | บบบว่าง | 内刷人 | THEMSERS | TEGAN 1 J JIL | 1.10 | 20.00 | | --- | --- | --- | --- | --- | --- | | 300450 | 先导智能 | 国投证券 | 买人 | 63.81 | 27.67 | | | 日期：12月29日至01月04日，南财投研通×南财快讯制图 | | | | | | | | | 12月29日至01月04日目标价涨幅排名 | | | | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 最高目标价 | 目标涨幅 | | | | | | (元) | (%) | | 605358 | 立昂微 | 中信证券 | ぶ | 77.00 | 121.14 | | 600196 ...

丨证券研究报告丨 行业研究丨专题报告丨啤酒 [Table_Title] "每食每刻"系列之（十五）：逆境求变，啤酒 企业探寻多元化发展之路 research.95579.com 董思远 冯萱 SAC：S0490517070016 SAC：S0490524060001 SFC：BQK487 报告要点 请阅读最后评级说明和重要声明 [Table_Summary] 2013 年啤酒行业以量为核心驱动力的增长阶段落下帷幕，啤酒公司积极谋求高端化转型。随着 2018 年行业在成本压力之下重启了提价，优化产品结构更加成为啤酒厂商的共识，价升利增的 逻辑链条成为行业在多年激励竞争博弈后的均衡解，自此开启了连续多年的业绩高速兑现。但 2023 年后，现饮场景需求偏弱，行业价增放缓，啤酒企业纷纷踏上探寻多元化发展之路。 %% %% 分析师及联系人 %% %% [Table_Author] 1 [Table_Title "每食每刻"系列之（十五）：逆境求变，啤酒 2] 企业探寻多元化发展之路 [Table_Summary2] 逆境求变，啤酒企业探寻多元化发展之路 中国啤酒产量于 2013 年见顶下滑，啤酒行业以量为核心驱动力的增 ...

Core Viewpoint - The company is experiencing strong reform momentum, with significant potential for national expansion of the U8 product line, expected to exceed 1.5 million tons in the future, and substantial opportunities for high-priced single products above 10 yuan, which will enhance product structure and profitability [1]. Investment Highlights - Investment recommendation: Maintain "Buy" rating. EPS forecasts for 2025-2027 are 0.57, 0.71, and 0.82 yuan respectively. Given the significant potential for net profit margin improvement and rapid earnings growth, a target price of 17.75 yuan is set for 2026, up from the previous target of 15.86 yuan [2]. - The beer industry is stabilizing, with clear advantages for regional leaders. The competitive landscape remains stable, and while the pace of price increases has temporarily slowed, it remains resilient. The recovery of dining scenarios and gradual consumer demand recovery are expected to drive profitability through structural upgrades, price increases, and efficiency optimization [2]. - Regional leaders like Yanjing Beer are achieving faster growth than the industry by increasing market share of major products, positively impacting their product structure and profitability, with relative advantages likely to continue [2]. Company Performance and Reforms - Yanjing Beer is undergoing comprehensive reforms during the 14th Five-Year Plan, with sales and revenue growth outpacing the industry. The net profit margin is projected to rise from 1.9% in 2021 to 7.2% in 2024, and ROE is expected to increase from 1.7% to 7.4%. Profitability has significantly improved since 2025 [3]. - The company is expected to further enhance net profit margins through improved management efficiency and mechanism optimization, driven by the growth of mid-to-high-end products like U8, supply chain and personnel efficiency improvements, and the rapid growth of the natto business contributing substantial profit increments [3]. U8 Product Expansion - The U8 product line continues to grow, with significant expansion potential in regions such as Sichuan, Hunan, Guangdong, Shandong, and Northeast China, where total beer production is projected to reach 16.36 million tons in 2024, accounting for 46.5% of the national total. U8 is expected to exceed 1 million tons in sales by 2026 and could become a major product exceeding 1.5 million tons in the future [4]. - There is considerable room for the company to develop products priced above 10 yuan, as previous resource allocation in this price range has been limited. The success of U8 at the 8 yuan price point has established a solid profit foundation and product development experience, paving the way for high-end product creation and further enhancing product structure and profitability [4].

证券日报网讯12月31日，燕京啤酒（000729）在互动平台回答投资者提问时表示，截至2025年12月19 日，公司股东总户数为44366户。 ...

Group 1: Strategy Observation - The report highlights that prices of cyclical resources are rising, driven by supply constraints and strong downstream demand in sectors like basic chemicals, new energy materials, and industrial metals [3] - The AI industry trend continues, with domestic electronic industry demand significantly boosted, leading to an increase in storage prices and sustained high growth in PCB exports [3][4] - Service consumption shows marginal improvement, with tourism in Hainan experiencing a price index increase due to travel demand, and pig prices stabilizing and rising towards the year-end [3] Group 2: Industry Tracking - Electronics - Mini LED technology is entering a rapid development phase, with increasing penetration in mid-to-high-end TV markets and expanding into lower-end markets and automotive applications [17] - The report anticipates that by 2025, Mini LED TV shipments in China will reach 9.23 million units, a year-on-year increase of 122%, with a penetration rate exceeding 25% [20] Group 3: Industry Monthly Report - Aviation - The Chinese aviation industry is expected to turn profitable in 2026, driven by a recovery in public and business demand, with significant growth in passenger traffic projected for 2025 [21][30] - The report suggests that the upcoming New Year holiday will see strong travel demand, with expectations for improved pricing and passenger volume [33] Group 4: Industry Deep Dive - Cultural Communication - The report emphasizes the ongoing progress of native large model companies in Hong Kong, highlighting the potential investment opportunities arising from the commercialization of AI technology [35] - Companies involved in AI algorithms and applications are recommended, including Meitu and Zhejiang Shuju, as they are well-positioned to benefit from the AI trend [35][36] Group 5: Industry Tracking - Automotive - The report notes the continuation of the "old-for-new" policy for automobiles in 2026, which includes subsidies for scrapping and replacing vehicles, aimed at boosting consumption [46][48] - The policy supports consumers who scrap their vehicles and purchase new energy or low-emission vehicles, with specific subsidy percentages outlined [49]

Group 1: Computer Research - The report highlights that the company, Electric Science Digital, has established industry-leading capabilities in the digital product business segment, covering intelligent computing hardware and software, and is positioned at the forefront of the digitalization field and new digital infrastructure [2][4] - The core subsidiary, Baifei Electronics, is a leader in domestic embedded computing, benefiting from the rising demand in the special electronic equipment sector, with a rapid increase in orders [4][5] - The future growth potential is significant, driven by AI and the "Xinchuang" initiative, with new orders related to AI exceeding one hundred [4][5] Group 2: Non-Metallic Building Materials Research - The waterproofing industry is noted as the most thoroughly cleared sub-sector within consumer building materials, with leading companies expected to continue implementing price recovery strategies in 2026, indicating a potential recovery in industry profitability [6][8] - The report estimates that the market share of the top four companies in the waterproofing sector will approach 50% by 2024, suggesting a significant increase in industry concentration [8][9] - The report anticipates that the trend of price recovery will become more evident in 2026, supported by low asphalt prices at the beginning of the year [9][10] Group 3: Transportation Research - The report forecasts that the Chinese civil aviation sector will continue to recover in supply and demand in 2025, with expectations of the industry turning profitable [11][29] - Passenger traffic is projected to grow by 5-6% in 2025, with domestic routes increasing by 4% and international routes by over 20% [11][29] - The report indicates that the industry is entering a low growth phase in supply, with a projected 3.7% increase in the fleet size of seven A-share airlines by November 2025 [11][29]

北京燕京啤酒股份有限公司 证券代码：000729 证券简称：燕京啤酒 公告编号：2025-87 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 一、土地收储事项概述 北京燕京啤酒股份有限公司（以下简称"燕京啤酒"或"公司"）于2021年12月22日以通讯表决方式召开第 八届第十次董事会，审议通过了《关于同意子公司土地收储的议案》，同意公司子公司燕京啤酒（山东 无名）股份有限公司（以下简称"燕京无名"）将土地交由邹城市人民政府收储。具体内容详见公司于 2021年12月24日披露的公司《第八届董事会第十次会议决议公告》（公告编号：2021-39），于2022年3 月31日披露的《关于子公司土地收储事宜的进展公告》（公告编号：2022-05）。 二、土地收储最新进展情况 登录新浪财经APP 搜索【信披】查看更多考评等级 关于子公司土地收储事宜的进展公告 四、备查文件 1、董事会决议 2、相关协议。 特此公告。 北京燕京啤酒股份有限公司董事会 二○二五年十二月三十日 根据协议约定及前期工作进展情况，近日燕京无名确认土地收储款6,500万元。截至本公告日，燕京无 名年度 ...