研究报告 ResearchReport 21 Dec 2025 中国必需消费 China (A-share) Staples 全球啤酒变革启示：中国的三大战略进阶 Enlightenment from Global Beer Industry Transformation: China's Three Strategic Leaps [Table_yemei1] Investment Focus | 股票名称 | 评级 | 股票名称 | 评级 | | --- | --- | --- | --- | | 贵州茅台 | Outperform 古井贡酒 | | Outperform | | 贵州茅台 | Outperform 今世缘 | | Outperform | | 五粮液 | Outperform 安琪酵母 | | Outperform | | 五粮液 | Outperform 燕京啤酒 | | Outperform | | 海天味业 | Outperform 迎驾贡酒 | | Outperform | | 海天味业 | Outperform 安井食品 | | Outperform | | 山西汾酒 | Ou ...

Core Insights - The 8th China International Beer Challenge is promoting the internationalization of Chinese beer, with a judging panel from 15 countries and regions [1][5] - The competition has seen record participation, with 75 judges evaluating 2709 entries, utilizing a new online scoring system for objective assessments [3][5] - The event serves as a platform for innovation in Chinese brewing, encouraging brewers to explore local ingredients and traditional brewing techniques [4][6] Event Details - The competition is divided into commercial and homebrew categories, with entries classified into 12 major groups and an additional "Qingyun Group," covering 78 specific beer styles [1] - The judging process employs a blind tasting method to ensure impartiality, with all entries identified only by numbers [5] Industry Impact - The event has become a significant driver for the awakening and innovation of Chinese beer styles, showcasing the diversity and cultural richness of Eastern flavors [4][6] - Increased participation from international brands and brewing institutions has enhanced the event's global perspective, responding to rising consumer demand for quality and diverse flavors [6][7] Future Outlook - The focus on internationalization is crucial for the craft beer sector, with the challenge serving as a platform for dialogue and integration into global standards [7] - China's craft beer market has rapidly evolved, becoming the largest producer and consumer globally, indicating a potential for further international engagement [7]