上市企业：养元饮品（603156）,承德露露（000848）,东鹏饮料（605499）,均瑶健康（605388） 2020-2025年1-10月中国饮料产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国饮料行业市场运营格局及未来前景分析报告》 根据国家统计局数据显示：2025年10月中国饮料产量为1096万吨，同比下降1.3%；2025年1-10月中国饮 料累计产量为15550.1万吨，累计增长3.4%。 ...

证券日报网讯12月1日，承德露露（000848）在互动平台回答投资者提问时表示，截至2025年11月20 日，公司股东总户数54，485户。 ...

Core Viewpoint - Chengde Lulu (000848) emphasizes a consumer-oriented approach in dynamically planning its online sales product offerings, aiming to enhance user shopping experience based on consumer feedback and market strategies [1] Group 1 - The company is committed to optimizing its online product layout continuously [1] - Future adjustments will be based on consumer feedback and market operational planning [1] - The focus is on improving user shopping experience through strategic product offerings [1]

（文章来源：证券日报） 证券日报网讯 12月1日，承德露露在互动平台回答投资者提问时表示，截至2025年11月10日，公司股东 总户数54，022户。 ...

Core Viewpoint - As of November 30, 2025, the total number of shareholders for Chengde Lolo (000848) is projected to be 55,200 [1] Summary by Category - **Company Information** - Chengde Lolo has confirmed through an interactive platform that it will have a total of 55,200 shareholders by the end of November 2025 [1]

Core Viewpoint - The company is focusing on the development of plant-based beverages, driven by market demand, and is committed to continuous product research and development to provide consumers with reliable options in this category [1] Group 1 - The company has articulated a strategic focus on "leading the trend in plant-based beverage development" [1] - The company emphasizes a market-oriented approach in its product development efforts [1] - The company aims to enhance consumer trust by offering a wider range of reliable plant-based beverages [1]

Market Overview - The beverage and dairy sector increased by 1.12% on December 1, with Sunlight Dairy leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Stock Performance - Sunlight Dairy (001318) closed at 17.57, up 10.02% with a trading volume of 257,000 shares and a transaction value of 447.1 million [1] - Other notable performers included: - Quan Yang Quan (600189) at 7.54, up 4.72% [1] - Huanle Jia (300997) at 24.39, up 3.39% [1] - Dongpeng Beverage (605499) at 269.03, up 2.04% [1] - Yiming Food (605179) at 22.35, up 1.78% [1] Fund Flow Analysis - The beverage and dairy sector experienced a net outflow of 145 million from institutional investors, while retail investors saw a net inflow of 117 million [2] - The main stocks with significant fund flows included: - Yili Group (600887) with a net outflow of 64.44 million from institutional investors [3] - Sunlight Dairy (001318) with a net inflow of 42.02 million from institutional investors [3] - Chengde Lolo (000848) had a net inflow of 4.49 million from retail investors [3]

证券简称：承德露露 证券代码：000848 公告编号：2025-056 承德露露股份公司 关于回购股份注销完成暨控股股东持股比例 被动增加触及 1%整数倍的公告 承德露露股份公司（以下简称"公司"）分别于 2024 年 10 月 24 日、2024 年 11 月 11 日召开第八届董事会 2024 年第四次临时会议及 2024 年第三次临 时股东大会，审议通过了《关于回购部分社会公众股份方案的议案》，同意 使用公司自有资金或自筹资金，以集中竞价交易方式，以不超过人民币 11.75 元/股（含）的价格回购本公司部分人民币普通股 A 股股份，回购的数量不低 于 3000 万股（含）且不高于 6000 万股（含），回购的资金额度不超过人民 币 70,500 万元（含），具体回购数量及回购金额以回购期限届满或回购实施 1 完成时实际回购的数据为准。回购股份的期限为自公司 2024 年第三次临时股 东大会审议通过本次回购股份方案之日起 12 个月内。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 重要提示： 1、承德露露股份公司（以下简称"公司"）本次注销存放在回购专 ...

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the last 30 days include United Imaging Healthcare, Aibo Medical, Sanhua Intelligent Control, Zhaoyi Innovation, and Jinpan Technology [11] - In the last five days, the most popular companies for institutional research include Industrial Fulian, Anbotong, Boying Special Welding, Optoelectronics, and Anke Biology [11] - Among the top twenty companies in the last 30 days, 17 companies had ten or more rating agencies involved, with significant net profit growth expected for companies like Jiao Cheng Ultrasound, Ninebot Company-WD, and United Imaging Healthcare in Q1-Q3 of 2025 compared to the same period in 2024 [11][12] Group 2: Shareholder Increase in A-Share Listed Companies - From November 10 to November 14, 2025, only one A-share listed company, Su Nong Bank, announced significant shareholder increase progress [16] - From January 1 to November 14, 2025, a total of 290 companies announced shareholder increase progress, with 74 of them having ten or more rating agencies involved [17] Group 3: Share Buyback Situation in A-Share Listed Companies - From November 10 to November 14, 2025, 70 companies announced buyback progress, with 13 having ten or more rating agencies involved [20] - Among these, 18 companies had an average expected buyback amount exceeding 1% of their market value on the announcement date, with a focus on companies like Rongsheng Environmental Protection, Chengde Lulou, and Jiamei Packaging [20] - From January 1 to November 14, 2025, a total of 1,804 companies announced buyback progress, with 342 having ten or more rating agencies involved, and 91 companies had a significant expected buyback amount [22]

Investment Rating - Investment advice indicates a sector recovery catalyzed by recent CPI data, focusing on growth and supply-demand inflection points [5][16]. Core Views - The report emphasizes the importance of consumer goods growth, particularly in beverages, snacks, and food ingredients, while also highlighting structural opportunities in the baijiu sector [5][16]. - CPI data shows a positive trend with October CPI year-on-year at +0.2% and core CPI at +1.2%, indicating a recovery in domestic demand [6][16]. - The baijiu industry is undergoing accelerated clearing, with expectations for improved sales and inventory adjustments leading into 2026 [7][16]. - Consumer goods are expected to benefit from stabilization and recovery, with a focus on low valuation and high dividend stocks [8][16]. Summary by Sections Investment Recommendations - Recommended baijiu stocks include Shanxi Xinghuacun Fen Wine Factory, Gujing Distillery, and stable targets like Kweichow Moutai and Wuliangye [5][16]. - Beverage growth is highlighted with recommendations for Eastroc Beverage and Nongfu Spring, alongside low valuation stocks like China Foods and Tingyi [5][16]. - Snack and food ingredient stocks recommended include Bailong Chuangyuan, Yankershop Food, and Three Squirrels [5][16]. - Beer recommendations include Yanjing Brewery and Tsingtao Brewery, while condiment stocks like Haitian Flavoring & Food are also suggested [5][16]. Baijiu Sector Insights - The baijiu sector is experiencing a significant adjustment, with industry destocking still in progress and a focus on promotional sales for 2026 [7][16]. - Recent sales data from JD.com shows a +18% year-on-year increase in liquor sales during the Double 11 shopping festival, indicating a positive market response [7][16]. Consumer Goods Outlook - Consumer goods are expected to see growth as the mainline, with structural differentiation evident in beverages, snacks, and health products [8][16]. - The report notes that companies with product innovation and channel expansion will have growth advantages, particularly in the context of recent service and non-food price recoveries [8][16].