登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002968 证券简称：新大正 公告编号：2025-005 证券代码：002968 证券简称：新大正 公告编号：2025-006 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告未经审计 一、主要财务数据 （一） 主要会计数据和财务指标 公司无需追溯调整或重述以前年度会计数据 ■ （二） 非经常性损益项目和金额 单位：元 ■ 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 公司不存在将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性 损益项目界定为经常性损益的项目的情形。 单位：万元 ■ 3、现金流量表项目 单位：万元 ■ 二、股东信息 （三） 主要会计数据和财务指标发生 ...

2024年，公司坚定"五五"战略方向，在挑战中寻求发展，主动适应市场变化，在实现营收持续稳定增长 的情况下，受社保及社平工资增长、主动退出低质效项目、公司体系重构与城市合伙人计划等影响，全 年利润尤其是第四季度阶段性承压。 4月28日晚间，新大正（002968）披露2024年业绩报告，公司实现营业收入33.87亿元，同比增长 8.32%。归母净利润1.14亿元，同比下降28.95%。基本每股收益0.51元/股。 数据显示，新大正自2019年上市以来持续实施现金分红，与全体股东共享公司高质量发展红利。近三年 现金分红比例持续上升，2024年度利润分配方案为向全体股东每10股派发现金红利1.85元(含税)，全年 累计现金分红总额6408万元(含前三季度利润分配方案已实施的现金分红)，占2024年归母净利润比例达 56.32%。2024年度现金分红占比较上年大幅提升的同时，公司还计划在2025年度进行中期分红，并已 提报年度股东大会审议。 同日，新大正披露了股份回购计划，彰显了公司对未来发展的信心。公司拟不超过每股13.96元的价 格，通过集中竞价交易方式回购股份，回购总额不低于1000万元且不超过2000万元，用 ...

Core Viewpoint - The company demonstrates strong performance in 2024 and Q1 2025, with revenue and net profit growth despite external pressures, indicating a trend towards sustainable high-quality growth [1][2][4]. Financial Performance - In 2024, the company achieved revenue of 235.8 billion and net profit of 55.2 billion, representing year-on-year growth of 16.4% and 20.2% respectively [1]. - Q4 2024 revenue and net profit showed a year-on-year increase of 4.9% and a slight decrease of 0.7% respectively [1]. - In Q1 2025, the company reported revenue of 91.5 billion and net profit of 23.3 billion, with year-on-year growth of 10.4% and 12.8% respectively [1][2]. Product and Market Performance - The product structure is expected to improve steadily in 2024, with notable performance from products such as Gu 7, Gu 8, and Gu 16 [1]. - In 2024, the company’s revenue from different product lines included 180.9 billion from aged raw liquor, 22.4 billion from Gujing Gongjiu, and 25.4 billion from other products, with respective year-on-year growth rates of 17.3%, 11.2%, and 15.1% [2]. - The company continues to focus on inventory reduction and sales activation in provincial markets, maintaining a competitive edge in Hefei while expanding in other regions [1][2]. Profitability and Cost Management - The gross margin for 2024 increased by 0.8 percentage points to 79.9%, attributed to an upward shift in product structure [3]. - The sales and management expense ratios decreased by 0.6 percentage points each, resulting in a sales expense ratio of 26.2% and a management expense ratio of 6.1% [3]. - In Q1 2025, the gross margin slightly decreased to 79.7%, but the net profit margin improved to 25.5%, reflecting ongoing enhancements in profitability [3]. Future Outlook - The company aims for steady revenue growth in 2025, with a focus on sustainable development and a strategy targeting national expansion and premium product lines [2][4]. - The earnings per share (EPS) forecast for 2025 and 2026 has been slightly adjusted to 11.49 and 12.85 respectively, with a projected CAGR of 14% for net profit, surpassing comparable companies [4]. - The target price for 2025 is set at 229.80, based on a 20x price-to-earnings ratio [4].

食品饮料 2025年04月28日 古井贡酒(000596.SZ) 2024顺利收官，分红稳定提升 推荐 ( 维持) 股价:167.11元 行情走势图 相关研究报告 公 司 报 告 【平安证券】古井贡酒（000596.SZ）*季报点评*环 比降速，稳扎稳打*推荐20241031 【平安证券】古井贡酒（000596.SZ）*半年报点评* 市场稳扎稳打，利润持续释放*推荐20240831 证券分析师 事项： 古井贡酒发布2024年年报与2025年1季报。2024年实现营收236亿元，同比 +16.4%，归母净利55亿元，同比+20.2%，其中4Q24实现营收45亿元，同比 +4.8%，归母净利7.7亿元，同比-0.7%，业绩符合快报。1Q25实现营收91亿 元，同比+10.4%，归母净利23.3亿元，同比+12.8%。公司拟每10股派发红利 50元（含税），2024年拟总分红31.7亿元，分红率57.5%。 平安观点： 司 年 报 点 评 研 究 报 告 张晋溢 投资咨询资格编号 S1060521030001 ZHANGJINYI112@pingan.com.cn 王萌 投资咨询资格编号 S106052203000 ...

智通财经记者 | 武冰聪 智通财经编辑 | 牙韩翔 4月25日晚，老白干酒披露2024年年报，该公司实现营收53.58亿元，同比增长1.9%；实现归母净利润 7.87亿元，同比增长18%。 财报指出，老白干酒2024年年利润增长主要原因有两方面，一方面是优化产品结构，高中档酒销售收入 增加，另一方面是持续开展降本增效活动，降低费销比和各项费用，盈利水平不断提升。 值得注意的是，在通过降本拉高了净利润的同时，老白干酒2024年全年营收未达预期。老白干酒曾定下 2024年计划实现营收57.8亿元的营收目标。但2024年，其实现营收53.58亿元，同比仅增长1.91%。 回顾以往，2021年—2023年，老白干酒营收分别为40.27亿元、46.53亿元、52.57亿元，期间增速 11.93%、15.54%、12.98%，均保持两位数增长，2024年的表现明显不如以往。 老白干营收增速放缓与几方面原因有关，首先是高端化增长有限。以价格带来对产品进行区分，该公司 去年100元以上产品收入27亿元，同比增长5.29%，100元以下产品收入26亿元，同比增长7.09%，中低 端产品的收入增幅更为明显。 根据财报资料，该公司 ...

文 | 酒业内参 张奥 作为游离在主流外的老四大名酒，西凤酒又开始"画大饼"了？ 此前召开的西凤酒 2024 年度全球经销商大会上，西凤集团党委书记、董事长、股份公司 董事长张正明确了"三年突破 200 亿"的发展目标。 但值得注意的是，早在 2021 年末，西凤酒就曾放出过"要在十四五末实现保底 200 亿"的 豪言。如今已是规划的最后一年，虽然西凤酒尚未公布去年营收规模，但按照 2023 年才 刚刚迈过百亿大关的速度看，想翻倍可能性很小。 同时，经销商引发的"黄渤诉讼事件""司马南夹头酒风波"等，也让西凤酒多次陷入舆论困 境。 此时，张正再次喊起了口号，但愿意相信的经销商与投资者可能已经寥寥无几。 6 年来首次未公布营收， 董事长在藏什么？ 同样是"老四大名酒"，茅台、泸州老窖、汾酒早已迈入高端白酒头部，只剩西凤酒带着名 酒基因跌跌撞撞。 去年同期，西凤酒官宣 2023 年实现销售收入 103.4 亿元，同比增长 23% 。作为跨 过"百亿大关"后的第二年，西凤酒的业绩表现成为了行业关注的焦点。 然而，张正却并未透露具体销售数据，" 2024 年公司营收稳中有进，达到了预期目 标。"这也是他上任六年来第一 ...

文 | 酒业内参 张奥 作为游离在主流外的老四大名酒，西凤酒又开始"画大饼"了？ 此前召开的西凤酒 2024 年度全球经销商大会上，西凤集团党委书记、董事长、股份公司 董事长张正明确了"三年突破 200 亿"的发展目标。 但值得注意的是，早在 2021 年末，西凤酒就曾放出过"要在十四五末实现保底 200 亿"的 豪言。如今已是规划的最后一年，虽然西凤酒尚未公布去年营收规模，但按照 2023 年才 刚刚迈过百亿大关的速度看，想翻倍可能性很小。 同时，经销商引发的"黄渤诉讼事件""司马南夹头酒风波"等，也让西凤酒多次陷入舆论困 境。 此时，张正再次喊起了口号，但愿意相信的经销商与投资者可能已经寥寥无几。 6 年来首次未公布营收， 董事长在藏什么？ 同样是"老四大名酒"，茅台、泸州老窖、汾酒早已迈入高端白酒头部，只剩西凤酒带着名 酒基因跌跌撞撞。 去年同期，西凤酒官宣 2023 年实现销售收入 103.4 亿元，同比增长 23% 。作为跨 过"百亿大关"后的第二年，西凤酒的业绩表现成为了行业关注的焦点。 然而，张正却并未透露具体销售数据，" 2024 年公司营收稳中有进，达到了预期目 标。"这也是他上任六年来第一 ...

以下文章来源于FBIF食品饮料创新 ，作者FBIF FBIF食品饮料创新 . 深度，创新 这是新消费智库第 2 6 1 8 期文章 新消费导读 一个区域性品牌的"全国化突围"。 作者 ： Abby 编辑：竺天 审核： Single 来源： FBIF食品饮料创新 2023年末、2024年初，"南方小土豆勇闯哈尔滨"话题在社交媒体持续发酵，与此同时，东 北特产也被越来越多的网友关注到。 珍珍荔枝汽水成为了"东北特产"话题中的焦点。原因就在于，"东北特产"，产自广东。 "特产"与"产地"的错位，让部分网友玩起了梗—— "所谓特产就是特地背着本地人生产是 吧？"在某短视频平台上，有相关视频点赞量、评论量以及转发量均超过10万+。 据珍珍官方透露，2024年业绩同比增长高达30%。根据马上赢数据分析，也印证了这一增 长：在有糖汽水市场，珍珍的市场占有率从2023年的第七名跃升至2024年的第四名，超越 了华洋等品牌。 | | 202312-202411 有糖汽水类目 | | 有糖汽水类目 集团市占率排行 | | | --- | --- | --- | --- | --- | | | CR10集团及市场份额合计 | | ...

Core Viewpoints - The A-share market showed mixed performance with the Shanghai Composite Index rising by 0.13% and the Shenzhen Component Index falling by 0.16% on April 17, 2025, with a total trading volume of 999.36 billion yuan [2][7] - The real estate sector is expected to have significant growth potential, supported by policies aimed at promoting housing consumption and stabilizing the market [4][8] - The central government emphasizes the importance of releasing market potential in the real estate sector, despite a decline in sales over the past three years [9][10] Market Performance - The Shanghai Composite Index closed at 3,280.34, up 0.13%, while the Shenzhen Component Index closed at 9,759.05, down 0.16% [5] - The Hang Seng Index in Hong Kong rose by 1.61%, and the Hang Seng Technology Index increased by 1.9% [7] Important News - The People's Bank of China and six other departments issued guidelines to facilitate and regulate the cross-border flow of financial data, aiming for more efficient and standardized data movement [3][7] Real Estate Industry Insights - The real estate market in China still has considerable growth potential, with sales showing signs of improvement in the first quarter of 2025 [8][9] - The government is expected to continue optimizing policies related to land acquisition and urban renewal, which will support the recovery of the real estate market [10][11] - Investment in the real estate sector is projected to remain weak in the short term, with a 9.9% decline in completed investment in the first quarter of 2025 compared to the previous year [12][13] Company Performance - Dongpeng Beverage reported a revenue of 4.848 billion yuan in Q1 2025, a year-on-year increase of 39.23%, with a net profit of 980 million yuan, up 47.62% [16][18] - The company's multi-category product strategy and national expansion efforts have led to significant growth in sales, particularly in energy drinks and electrolyte beverages [16][17] - The gross profit margin increased to 44.47% in Q1 2025, primarily due to lower raw material prices [17][18]

Investment Rating - The investment rating for the company is "Add" [8] Core Views - The company has achieved high growth in performance, with a revenue of 4.848 billion yuan in Q1 2025, representing a year-on-year increase of 39.23%, and a net profit of 980 million yuan, up 47.62% year-on-year [2][3] - The company's strategy of "nationalization + multi-category" is effectively driving growth, particularly in energy drinks and electrolyte beverages, with significant revenue increases in emerging markets [3][9] Summary by Sections Performance Overview - In Q1 2025, the company's main business revenue was primarily from energy drinks, generating 3.901 billion yuan, a year-on-year increase of 25.71%, accounting for 80.50% of total revenue [3] - Electrolyte beverage revenue reached 570 million yuan, up 261.46% year-on-year, increasing its share to 11.76% [3] - Other beverage sales amounted to 375 million yuan, a 72.62% increase year-on-year, contributing 7.74% to total revenue [3] Regional Performance - The company successfully expanded into emerging markets such as North China and Southwest regions, with North China achieving sales of 746 million yuan, up 71.67% year-on-year, and Southwest region revenue of 623 million yuan, up 61.78% [3] - Revenue from Guangdong was 1.125 billion yuan, a 21.58% increase year-on-year, but its share decreased to 23.22% [3] Profitability - The gross margin increased by 1.70 percentage points to 44.47% in Q1 2025, primarily due to lower raw material prices and economies of scale [4] - The net profit margin rose by 1.14 percentage points to 20.21% [4] Financial Forecast - The company aims for over 20% growth in revenue and net profit for 2025, with projected net profits of 4.029 billion yuan, 4.937 billion yuan, and 6.107 billion yuan for 2025, 2026, and 2027 respectively [9] - Earnings per share (EPS) are expected to be 7.75 yuan, 9.49 yuan, and 11.74 yuan for the same years [9]