CBC(SH:600132) Jing Ji Guan Cha Wang·2026-02-14 07:12Core Viewpoint - Chongqing Beer is expected to release its 2025 annual report soon, which will provide comprehensive financial data, dividend plans, and business details, indicating a stable outlook for the company in the coming years [2] Financial Performance - For 2025, the company reported a revenue of 14.722 billion yuan and a net profit attributable to shareholders of 1.231 billion yuan, with a year-on-year sales growth of 0.68%, outperforming the industry average [2] - The formal annual report may further clarify the dividend plan, with a cash dividend rate of 104.21% for 2024 and an estimated mid-year dividend of approximately 630 million yuan for 2025 [2] Recent Events - A contract dispute with Chongqing Jiawei was resolved through mediation in December 2025, with the plaintiff withdrawing the lawsuit on January 12, 2026, eliminating long-term uncertainties and providing stability for procurement arrangements for the next three years (2026-2028) [3] - Following the settlement, the company reversed previously accrued liabilities, which is expected to increase the net profit for 2025 by approximately 19.0796 million yuan, potentially enhancing operational efficiency [3] Strategic Outlook - The company anticipates stable growth in volume and price for 2026, planning to accelerate the launch of new products (such as seasonal craft beers) and focus on non-traditional beverage channels (like convenience stores and instant retail) [4] - Benefiting from a decrease in raw material costs and policy support for on-premise consumption recovery, the gross margin is expected to maintain an upward trend [4] - Continuous optimization of product structure (with an increased proportion of premium beers) and expansion into cross-category beverages (such as flavored sodas) will also be pursued [4] Industry Policies and Environment - With the promotion of policies to boost service consumption, the demand for on-premise beer channels (such as dining and nightlife) is expected to gradually recover [5] - However, attention should be paid to intensified industry competition and fluctuations in raw material costs, as these factors may impact the company's future profitability [5]