太平洋给予燕京啤酒增持评级：U8全国化稳步推进，二季度业绩超预期

Group 1 - The core viewpoint of the report is that Yanjing Beer (000729.SZ) is rated as "Buy" with a target price of 14.58 yuan, driven by strong performance in a weak market [2] - The report highlights that both volume and price have increased, supported by the nationwide expansion of U8, which is enhancing the product structure [2] - It notes that the company's reform and efficiency improvements are progressing steadily, leading to a rapid enhancement in profitability [2]