广州珠江啤酒股份有限公司 2023 年度独立董事述职报告 何兴强 各位股东、股东代表及委托代理人： 本人作为广州珠江啤酒股份有限公司(下称"公司")的独立董事,根据 《公司法》、《上市公司独立董事管理办法》、《上市公司治理准则》等 法律法规以及《公司章程》、《公司独立董事工作制度》等规定,在2023 年独立、勤勉、尽责地履行了独立董事的职责，切实维护了公司和股东利 益（尤其是中小股东的利益）。现将本人2023年度工作情况汇报如下： 一、独立董事的基本情况 1 本年度公司共召开 2 次股东大会，本人全部亲自出席。认真听取了出 席股东或股东授权代表的发言，签署会议相关文件，履行了作为独立董事 的基本职责。 （二）参加董事会专门委员会工作情况 本人依照相关法律法规及公司制度，勤勉尽责参加董事会专门委员会 会议，认真审核专门委员会各项提案。本年度公司董事会专门委员会共召 开 9 次会议（其中审计委员会召开 4 次会议，战略委员会召开 3 次会议， 提名委员会召开 1 次会议，薪酬与考核委员会召开 1 次会议），本人全部 亲自出席，依照相关法律法规及公司制度认真审核了相关议案。 （三）行使独立董事职权情况、保护中小股东 ...

广州珠江啤酒股份有限公司 2023年年度募集资金存放与使用情况的专项报告 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资金管 理和使用的监管要求（2022 年修订）》、《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》以及《深圳证券交易所上市公司自律监管指南第 2 号—— 公告格式》的相关规定，广州珠江啤酒股份有限公司（以下简称"公司"或"本公司"） 就 2023 年度募集资金存放与使用情况作如下专项报告： 一、募集资金基本情况 经中国证券监督管理委员会"证监许可【2016】3231 号"核准，本公司向特定对象 非公开发行人民币普通股（A 股）不超过 426,502,472 股（每股面值 1 元），每股发行价 格人民币 10.11 元，实际发行人民币普通股 426,502,472 股，共计募集资金人民币 4,311,939,991.92 元，扣除承销费、保荐费、律师费等发行费用人民币 16,152,996.87 元（含 税），实际募集资金净额为人民币 4,295,786,995.05 元。上述资金于 2017 年 2 月 20 日到 位，已经中喜会计师事务所（特 ...

1 广州珠江啤酒股份有限公司 2023 年度内部控制自我评价报告 广州珠江啤酒股份有限公司全体股东： 根据《企业内部控制基本规范》 及其配套指引的规定和其他内部控制监管 要求（以下简称"企业内部控制规范体系"），结合广州珠江啤酒股份有限公司 （以下简称"公司"）内部控制制度和评价办法，在内部控制日常监督和专项监 督的基础上，我们对公司2023年12月31日的内部控制有效性进行了评价。 一、 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其 有效性，并如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建 立和实施内部控制进行监督。经理层负责组织领导企业内部控制的日常运行。公 司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚假 记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个 别及连带法律责任。 公司按照保证经营管理合法合规、财务报告及相关信息真实完整、资产安全、 提高经营效率和效果，促进公司战略目标实现的内部控制目标，建立健全了内部 控制规范，贯彻实施了相关控制措施。由于内部控制存在固有局限性，故仅能对 实现上述目标提供合理保证。此外 ...

广州珠江啤酒股份有限公司（以下简称"公司"）监事会于 2024 年 3 月 14 日 收到公司监事黄志强先生的书面辞职报告。因工作调动，黄志强先生申请辞去公司 监事职务，辞职后黄志强先生不在公司担任任何职务。截至本公告日，黄志强先生 未持有公司股票，不存在应履行而未履行的承诺事项。 根据有关规定，黄志强先生的辞职未导致公司监事会成员人数低于法定最低人 数，不会影响公司相关工作的正常开展，黄志强先生的辞职报告自送达公司监事会 之日起生效。公司对黄志强先生任职期间所做的工作表示衷心感谢！ 特此公告。 广州珠江啤酒股份有限公司监事会 2024 年 3 月 15 日 证券代码：002461 证券简称：珠江啤酒 公告编号：2024-004 关于公司监事辞职的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性陈述或者 重大遗漏。 ...

关于公司副总经理辞职的公告 证券代码：002461 证券简称：珠江啤酒 公告编号：2024-003 广州珠江啤酒股份有限公司 特此公告。 广州珠江啤酒股份有限公司董事会 2024 年 3 月 1 日 1 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 广州珠江啤酒股份有限公司（以下简称"公司"）董事会于 2024 年 2 月 29 日收到公司副总经理李焰坤先生提交的书面辞职报告。因已届退休年龄， 李焰坤先生申请辞去公司副总经理职务，上述辞职报告自送达董事会之日起 生效，辞职生效后李焰坤先生将不在公司担任任何职务。 截至本公告日，李焰坤先生未持有公司股份，不存在应履行而未履行的 承诺事项。公司对李焰坤先生任职期间所做的工作表示衷心感谢！ ...

食品饮料 | 证券研究报告 — 调整盈利预测 2024年2月26日 002461.SZ 珠江啤酒 增持 2023年销量增速快于行业，4Q23延续良好表现 原评级：增持 市场价格:人民币 7.87 珠江啤酒披露2023年业绩快报，全年实现营收53.8亿元，同比+9.1%，实现归母/扣 非归母净利润 6.2/5.6亿元，同比+4.4%/+4.7%。4Q23单季实现营收 8.3亿元，同比 板 块评级:强于大市 +1.2%，实现归母/扣非归母净利润-0.2/-0.5亿元，去年同期分别为0.3/0.1亿元。公司 4Q23销量延续良好表现，吨价下行可能由于促销力度加大。预计公司 23-25年 EPS 为0.28、0.33、0.36元，维持增持评级。 股价表现 支撑评级的要点 9% ◼ 2023全年量价齐升，归母净利率下降或因财务费用变化。1）营收端：2023年全 1% 年公司实现营收53.8亿元，同比+9.1%。销量140.3万千升，吨价3834元，量价 (7%) 分别同比+4.8%/+4.1%。啤酒行业 2023年产量同比+0.3%，公司全年销量增速表 现显著优于行业。我们预计公司纯生/97 纯生等高端线产品全年表现良 ...

Investment Rating - The report maintains a "Buy" rating for Zhujiang Beer (002461 SZ) [6] Core Views - Zhujiang Beer achieved both volume and price increases in 2023, with revenue reaching 5 378 billion yuan (up 9 13% YoY) and net profit attributable to shareholders of 625 million yuan (up 4 43% YoY) [4] - The company's product structure in the mid-range and sub-high price segments is well-established, with a competitive advantage in the Guangdong market [5] - Profit growth in 2023 was slightly slower than revenue growth, mainly due to cost factors, but 2024 is expected to see a year-on-year decline in raw material costs, potentially boosting profitability [5] Financial Performance - In 2023, Zhujiang Beer sold 1 4028 million tons of products (up 4 79% YoY) with an average price of 3 834 yuan per kiloliter (up 4 14% YoY) [4] - Q4 2023 saw a slight pressure on structural upgrades, with revenue of 827 million yuan (up 1 16% YoY) and a net loss attributable to shareholders of 19 million yuan [4] - The company's 2024 and 2025 EPS are forecasted to be 0 37 yuan and 0 46 yuan respectively, with corresponding P/E ratios of 21 5x and 17 4x [6] Market Position - Zhujiang Beer has a strong brand advantage in its base market, with continuous improvement in catering coverage [5] - The company's gross margin is expected to increase from 44 7% in 2023 to 49 1% in 2025, while net margin is projected to rise from 11 7% to 16 0% over the same period [9] Financial Projections - Revenue is forecasted to grow from 5 378 billion yuan in 2023 to 6 412 billion yuan in 2025, with a compound annual growth rate of 9 1% [8] - Net profit attributable to shareholders is expected to increase from 624 million yuan in 2023 to 1 014 billion yuan in 2025, representing a compound annual growth rate of 27 5% [8] - ROE is projected to improve from 6 2% in 2023 to 9 2% in 2025 [8]

证券代码：002461 证券简称：珠江啤酒 公告编号：2024-001 关于控股股东减持计划期限届满未减持的公告 广州产业投资控股集团有限公司（以下简称"广州产投"）保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 广州珠江啤酒股份有限公司（以下简称"公司"）于 2023 年 6 月 30 日披 露了《关于控股股东减持股份计划的预披露公告》（2023-018 号），公司控股股 东广州产业投资控股集团有限公司（以下简称"广州产投"）计划自上述减持计 划公告之日起 15 个交易日后的 6 个月内，以集中竞价交易或大宗交易方式减持 公司股票（计划减持数量不超过 5,000 万股，即不超过公司股份总数的 2.259%）。 截至本公告披露日，上述减持计划期限已届满，在减持计划期限内，广州产投未 通过任何方式减持公司股份。 广州产投出具的《关于减持计划期限届满的告知函》。 截至本公告披露日，广州产投本次减持计划期限届满。在本次减持计划实施 期间，广州产投未通过任何方式减持公司股份。截至本公告披露日，广州产投持 有公司股份 ...

Group 1: Financial Performance - In the first three quarters of 2023, the company achieved beer sales of 1.1503 million tons, a year-on-year increase of 4.97% [2] - Revenue reached 4.551 billion yuan, representing a year-on-year growth of 10.71% [2] - Net profit attributable to shareholders was 643 million yuan, with a year-on-year increase of 12.78% [2] Group 2: Product Development - The product structure continued to optimize, with pure draft beer sales increasing by 15.01% year-on-year [2] - Sales of 97 pure draft products saw a significant year-on-year growth of 33.28% [2] - The company plans to continue product upgrades, enhance product system construction, and strengthen brand development [2] Group 3: Cultural Industry Projects - The company will focus on optimizing business formats and enhancing brand value, as well as advancing cultural industry project construction [3] - Efforts will be made to activate and utilize industrial heritage and cultural deposits [3] Group 4: Future Outlook - The company aims for high-quality development, striving for higher quality, efficiency, and profitability in its operations [3]

Financial Performance - The company's revenue for Q3 2023 reached ¥1,778,452,507.69, representing a year-on-year increase of 5.94%[3] - Net profit attributable to shareholders was ¥277,327,242.77, an increase of 8.03% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥268,059,327.42, up 11.72% year-on-year[3] - The company reported a 70.44% increase in trading financial assets compared to the beginning of the year, primarily due to increased purchases of structured deposit products[6] - The company received government subsidies amounting to ¥16,451,616.04 during the reporting period, contributing positively to its financial performance[4] - The company's revenue for the first three quarters reached RMB 4.551 billion, reflecting a year-on-year growth of 10.71%[10] - Net profit attributable to shareholders for the same period was RMB 643 million, up 12.78% year-on-year[10] - Total operating revenue for Q3 2023 reached CNY 4,551,272,884.20, an increase of 10.7% compared to CNY 4,110,877,857.48 in the same period last year[12] - Net profit attributable to shareholders of the parent company was CNY 643,441,593.03, up 12.8% from CNY 570,525,671.17 in Q3 2022[15] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥15,244,982,753.42, reflecting a growth of 9.31% from the end of the previous year[3] - Shareholders' equity attributable to the parent company was ¥9,995,463,304.35, an increase of 3.93% compared to the end of the previous year[3] - As of September 30, 2023, the company's total assets amounted to RMB 15.245 billion, compared to RMB 13.946 billion at the beginning of the year, indicating a growth of 9.3%[12] - The total liabilities increased to CNY 5,187,571,307.80, compared to CNY 4,277,085,710.01 in the previous year, reflecting a growth of 21.2%[12] Cash Flow - Cash flow from operating activities for the year-to-date was ¥1,051,227,110.96, showing a 9.59% increase year-on-year[3] - The company's cash flow from operating activities was CNY 5,041,581,559.96, compared to CNY 4,584,827,155.64 in the same period last year, indicating a growth of 10%[16] - Operating cash inflow for Q3 2023 reached CNY 5,155,462,253.04, an increase of 10.6% compared to CNY 4,661,133,365.57 in Q3 2022[17] - Net cash flow from operating activities was CNY 1,051,227,110.96, up from CNY 959,203,975.24 in the same period last year, reflecting a growth of 9.6%[17] - Cash inflow from investment activities totaled CNY 4,611,058,734.95, a significant increase of 40.2% compared to CNY 3,288,992,051.35 in Q3 2022[17] - Cash inflow from financing activities amounted to CNY 1,988,438,847.31, more than double the CNY 785,503,552.74 recorded in the previous year[17] Inventory and Borrowings - Short-term borrowings increased by 121.22% compared to the beginning of the year, mainly due to increased bank loans[6] - Short-term borrowings increased significantly to RMB 2.194 billion from RMB 991 million, indicating a rise of 121.5%[12] - The company's inventory was reported at RMB 1.791 billion, slightly down from RMB 1.803 billion, showing a decrease of 0.67%[12] Research and Development - Research and development expenses for Q3 2023 were CNY 127,959,029.15, a decrease of 5.2% from CNY 135,206,570.49 in Q3 2022[14] Other Information - The company is focusing on expanding its market presence and enhancing product offerings, particularly in the pure draft beer segment[10] - The company has not disclosed any significant mergers or acquisitions during this reporting period[10] - The company has not undergone an audit for the Q3 report, which is noted in the financial statements[18] - The company began implementing new accounting standards in 2023, affecting the financial statement items[18]