2 1 Shi Ji Jing Ji Bao Dao·2025-04-03 04:48Core Viewpoint - The beer industry is experiencing a decline in sales volume, but there is a positive trend in cost optimization, particularly due to falling raw material prices and a shift towards high-end products. Group 1: Company Performance - Chongqing Beer reported a revenue of 14.645 billion yuan and a net profit of 1.222 billion yuan for 2024, with sales volume reaching 2.9749 million kiloliters [1] - High-end product sales for Chongqing Beer increased by 1.37% year-on-year, accounting for nearly 49% of total sales [1] - The proportion of canned products in Chongqing Beer’s sales rose to 26%, an increase of 3.5 percentage points [1] Group 2: Cost Optimization - Major beer companies, including China Resources Beer, Budweiser APAC, Qingdao Beer, and Chongqing Beer, have all seen reductions in operating costs [2] - Qingdao Beer’s operating costs decreased by 7.72%, while Chongqing Beer’s operating costs saw a slight reduction of 0.03% [2] - The decline in costs is attributed to lower prices for barley, packaging materials, and effective cost control measures [2][4] Group 3: Raw Material Trends - The price of imported barley in China is expected to decline by approximately 20% compared to 2023, with a 10% decrease anticipated by the end of 2024 [7] - Glass prices in China are at a relative low over the past three years, and the average market price for corrugated paper has also seen a decline [8] - The overall trend of decreasing raw material costs is expected to continue into 2025, benefiting the beer industry [8]