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燕京啤酒(000729) - 000729燕京啤酒投资者关系管理信息20250710(二)
2025-07-10 10:16
| | √特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | √其他 电话会议 | | | 东吴证券:郭晓东 | | 参与单位名称及 | 易方达:易俊何、黄逸群、彭珂、叶曦、倪春尧、王元春、冯波、 | | 人员姓名 | 张胜记 | | | 2 家机构共计 9 人 | | 时间 | 2025 年 7 月 10 日 | | 地点 | 公司会议室 | | 上市公司接待人 | 副总经理、董事会秘书、总法律顾问:徐月香 | | 员姓名 | | | | 1、介绍公司概况 | | | 2、请介绍公司的分红情况 | | | 答:公司高度重视股东投资回报,积极实施连续、稳定的股利分 | | | 配政策,制定了《未来三年股东回报规划(2024-2026)》并推动 | | | 落地执行。就 2024 年度而言,公司预计每 10 股派发现金股利 1.90 | | 投资者关系活动 | 元(含税),共计派发现金 535,522,474.79 元。该笔现金分红在 | | 主要内容介绍 | 当年实现归属于 ...
珠江啤酒:预计2025年上半年净利润同比增长15%至25%
news flash· 2025-07-10 08:06
珠江啤酒(002461)公告,预计2025年1月1日至2025年6月30日归属于上市公司股东的净利润为5.75亿 元至6.25亿元,比上年同期的5亿元增长15%至25%。归属于上市公司股东的扣除非经常性损益后的净利 润预计为5.47亿元至5.95亿元,比上年同期的4.76亿元增长15%至25%。基本每股收益预计为0.2597元/股 至0.2823元/股。 ...
第一创业晨会纪要-20250710
First Capital Securities· 2025-07-10 06:47
Macroeconomic Overview - In June, China's CPI year-on-year was 0.1%, exceeding expectations of 0.0% and the previous month's value of -0.1% [3] - The core CPI year-on-year reached 0.7%, the highest since April 2024, compared to 0.6% in May [3] - June's PPI year-on-year was -3.6%, the lowest since July 2023, with expectations of -3.2% [4] Advanced Manufacturing Sector - In June, the national retail sales of passenger cars reached 2.084 million units, a year-on-year increase of 18.1% and a month-on-month increase of 7.6% [7] - The production of new energy passenger vehicles in June reached 1.2 million units, a year-on-year increase of 28.3% [7] - The top five companies in new energy vehicle exports in June were BYD, Chery, Tesla China, SAIC Passenger Vehicle, and SAIC-GM-Wuling [7] Consumer Sector - Yanjing Beer projected a net profit of 1.06 to 1.14 billion yuan for the first half of 2025, representing a year-on-year increase of approximately 40% to 50% [9] - The second quarter net profit is estimated to be between 900 million to 970 million yuan, reflecting a year-on-year growth of about 36.7% to 48.3% [9] - Despite a slight decline in sales due to a June alcohol ban, the overall profit growth remains robust, with U8's sales ratio exceeding 30% in several provinces [9]
净利预高增、押注汽水业 燕京啤酒还有什么挑战
Sou Hu Cai Jing· 2025-07-10 05:13
从胜利走向胜利 作者:陈晨 编辑:悟道 风品:李莉 来源:首财——首条财经研究院 双春闰六月,伏天蒸桑拿!今年恰逢"闰六月",高湿高热的天气让啤酒业旺季更旺。 尤其存量竞争、各大巨头深陷"零和博弈"之际,旺季早已超越单纯的销售行为,成为观察产业生态变迁 的窗口。 7月7日,燕京啤酒发布2025半年度业绩预告:预计归属于上市公司股东的净利约10.62亿元至11.37亿 元,同比增长40%至50%;扣除非经常性损益后的净利约9.26亿元至10亿元,同比增长25%至35%。今 年一季度营收38.27亿元,净利1.65亿元。据此计算,二季度净利预计8.97亿元至9.72亿元区间,环比增 长显著。 7月8日,兴业证券、光大证券等五家券商更新评级,均给予燕京啤酒增持或买入,东吴证券更预测全年 净利达15.05亿元。 殷殷期许,振奋人心。要知道,"十四五"(2021~2025年)被燕京定义为战略重构期,并提出"二次创 业,复兴燕京"的中长期目标。上述出彩的半年报及全年预期,无疑为这个战略收关打下基础。 究竟如何做到的?韧性逆增源泉是什么、又能持续多久?二创复兴的奔赴路上,还有什么挑战隐忧呢? 1 高利润高分红 行业下行期的 ...
燕京啤酒:跨界汽水寻增长,突围之路挑战多
He Xun Wang· 2025-07-10 03:46
(责任编辑:王治强HF013) 【燕京啤酒跨界汽水赛道,破局之路挑战重重】炎炎夏日,碳酸饮料销售旺季来临。众多品牌新品同质 化高,但跨界做饮料成行业趋势。燕京啤酒为顺应年轻消费群体饮品新趋势,今年实施"啤酒+饮料"组 合营销策略,3月跨界推出新品"倍斯特汽水",视为进军饮料赛道重要落子。饮料赛道成快消品战略战 场,能精准卡位年轻消费群体,坐拥流量红利,构建万亿级消费网络。行业数据回暖,成资本与品牌追 逐的"价值洼地",不过市场竞争激烈,跨界者面临考验。燕京啤酒高调跨界入局,原因有三。一是汽水 市场销量可观,竞争对手北冰洋2023年销售额突破6亿,2024年销量达600万箱;燕京啤酒对标大窑, 2024年大窑营收破50亿。年轻人是消费主力,燕京啤酒想借此绑定年轻群体。二是汽水市场扩容空间 大,处于红利释放期。2024年全球碳酸软饮料市场规模2429.14亿美元,预计2029年达3507.76亿美元, 国内碳酸饮料行业集中度下降,本土品牌迎机遇。燕京啤酒想分得一杯羹,打造第二护城河。三是啤酒 生意遇瓶颈,燕京啤酒急需培育第二增长极。2022-2024年,其营收增速逐年下滑,啤酒销量增速也下 探。中高档产品依赖燕京 ...
燕京啤酒“不务正业”卖汽水,拿什么跟北冰洋、大窑斗?
Xin Lang Cai Jing· 2025-07-10 03:03
Core Viewpoint - The beverage market is becoming a strategic battleground in the fast-moving consumer goods sector, with companies like Yanjing Beer entering the soft drink space to capture the young consumer demographic and address declining growth in their core beer business [1][3][20] Group 1: Market Trends and Opportunities - The beverage industry is experiencing a resurgence, with significant growth potential, particularly among the Z generation, who frequently purchase drinks and prefer carbonated beverages in social settings [3][4][6] - The global carbonated soft drink market is projected to grow from $242.91 billion in 2024 to $350.78 billion by 2029, indicating ample expansion opportunities for new entrants [6][8] - Yanjing Beer aims to leverage the high sales volume in the soft drink category, particularly through its new product, Beiste Soda, which targets the young consumer market [4][10] Group 2: Yanjing Beer's Strategic Moves - Yanjing Beer has seen a slowdown in its beer sales growth, with revenue increasing from 132.02 billion yuan in 2022 to 146.67 billion yuan in 2024, reflecting a declining growth rate [10][20] - The company is heavily reliant on its flagship product, Yanjing U8, which has seen a decrease in annual sales growth from 50% in 2022 to 31.4% in 2024, indicating a need for diversification [10][12] - The introduction of Beiste Soda is part of Yanjing Beer's strategy to create a second growth engine amid pressures in its core beer business [10][20] Group 3: Competitive Landscape - The beverage market is highly competitive, with established brands like Coca-Cola and PepsiCo dominating approximately 90% of the market share in China, leaving limited space for new entrants [14][15] - Yanjing Beer faces challenges in establishing a strong online presence for its new beverage products, unlike competitors such as Beibingyang, which have successfully utilized e-commerce platforms [13][14] - The beverage market is expected to become increasingly crowded as more companies, including those from the beer sector, attempt to enter the soft drink space [15][20] Group 4: Challenges Ahead - Yanjing Beer's approach to the beverage market has been criticized for lacking innovation, as its new product does not significantly differentiate itself from existing offerings [17][18] - The company must navigate low brand loyalty among young consumers, who are willing to explore various brands rather than remain loyal to one [17][20] - The success of Yanjing Beer's beverage strategy will depend on its ability to innovate and adapt to changing consumer preferences in a rapidly evolving market [16][20]
燕京啤酒(000729) - 000729燕京啤酒投资者关系管理信息20250709(一)
2025-07-09 10:26
证券代码:000729 证券简称:燕京啤酒 北京燕京啤酒股份有限公司投资者关系活动记录表 2 日期 2025 年 7 月 9 日 | | √特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | □其他 电话会议 | | | 东北证券:阚磊 | | 参与单位名称及 | 汇添富基金:田立、张晟优、胡昕炜、陈潇扬、李超、杨瑨、赵 | | 人员姓名 | 鹏程、杨涛 | | 2 | 家机构共计 9 人 | | 时间 | 2025 年 7 月 9 日 | | 地点 | 公司会议室 | | 上市公司接待人 | 副总经理、董事会秘书、总法律顾问:徐月香 | | 员姓名 | | | | 1、介绍公司概况 | | | 2、关于 2025 年半年度业绩 | | | 答:公司已披露 2025 年半年度业绩预告。燕京啤酒在党建引 | | | 领下,在首季"开门红"的基础上,上半年继续保持高效能、高 | | | 质量发展态势,预计实现归属于上市公司股东的净利润为 | | | 106,150 万元至 11 ...
燕京啤酒(000729) - 000729燕京啤酒投资者关系管理信息20250709(二)
2025-07-09 10:26
证券代码:000729 证券简称:燕京啤酒 北京燕京啤酒股份有限公司投资者关系活动记录表 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 电话会议 参与单位名称及 人员姓名 景林资产:高翔 Millennium:Becky Lu 广发证券:郝宇新 3 家机构共计 3 人 时间 2025 年 7 月 9 日 地点 公司会议室 上市公司接待人 员姓名 副总经理、董事会秘书、总法律顾问:徐月香 投资者关系活动 主要内容介绍 1、介绍公司概况 2、关于公司推广宣传活动 答:为进一步夯实"中国人自己的啤酒"品牌定位、放大核 心价值,公司开展了多维度举措。在内容与品牌推广上,构建内 容营销体系,开展多样化种草活动,打造覆盖全国与区域的媒介 矩阵;借助品牌代言人,从全国、区域和集团层面推进推广,助 力品牌实现年轻化、时尚化、高端化升级。在营销模式与活动落 地方面,整合各类媒介资源,打造全链路营销模式,强化线上线 下联动,提升跨区域推广活动效果以赋能市场。近期,公司成功 举办"露营微醺夜"直播活动,拉近与消费者距离;并将于 2025 年 7 月 11 ...
燕京啤酒(000729):2025年中报预告点评:U8放量驱动,业绩再超预期
Huachuang Securities· 2025-07-09 09:03
Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 15.5 yuan [2][8]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 1.06 to 1.14 billion yuan in the first half of 2025, representing a year-on-year increase of approximately 40% to 50%. The non-recurring net profit is projected to be 930 to 1,000 million yuan, with a growth of about 25% to 35% [2][8]. - The second quarter is estimated to yield a net profit of 900 to 970 million yuan, reflecting a year-on-year increase of 36.7% to 48.3%, driven by strong performance in the U8 product line and cost optimization efforts [2][8]. - The company has seen a steady revenue growth, with the U8 product continuing to perform well. Sales volume is expected to show stable growth, with positive performance across various regions [2][8]. Financial Performance Summary - Total revenue is projected to grow from 14,667 million yuan in 2024 to 15,472 million yuan in 2025, with a year-on-year growth rate of 5.5% [4]. - Net profit attributable to shareholders is forecasted to increase significantly from 1,056 million yuan in 2024 to 1,552 million yuan in 2025, marking a growth rate of 47.0% [4]. - Earnings per share (EPS) is expected to rise from 0.37 yuan in 2024 to 0.55 yuan in 2025 [4]. Market Position and Strategy - The company is positioned as a rare growth stock in the market, with ongoing reforms and the successful launch of the U8 product line contributing to improved product structure and profit margins [2][8]. - The report indicates that the company is likely to benefit from the gradual recovery of the restaurant sector and the continued expansion of its product offerings, which may enhance its market competitiveness [2][8].
珠江啤酒(002461):97纯生放量,看好原浆发展机遇
Xinda Securities· 2025-07-09 08:22
Investment Rating - The report assigns a "Buy" rating for Zhujiang Beer [7] Core Viewpoints - The report highlights the growth potential of Zhujiang Beer, particularly with the rapid expansion of its 97 Pure Draft product since its launch in 2019, which has seen a compound annual growth rate (CAGR) of 99% from 2.79 million tons in 2019 to 22.07 million tons in 2022 [7][17] - Despite concerns about the slowdown in the premium beer segment, regional beers, particularly in the 8-10 yuan price range, continue to show strong growth, with Zhujiang Beer positioned favorably in the Guangdong market [15][17] - The report anticipates that Zhujiang Beer will achieve earnings per share (EPS) of 0.45, 0.56, and 0.67 yuan for the years 2025, 2026, and 2027 respectively, with a projected EPS compound annual growth rate (CAGR) of 22% from 2025 to 2027 [7][8] Company Overview - Zhujiang Beer, established in 1985, is a major state-owned enterprise in the beer brewing and cultural industry, with a brand value of 18.8 billion yuan [19][22] - The company has a strong market presence in Guangdong, which is the second-largest beer-producing province in China, with a beer production of 4.54 million tons in 2023 [16][19] Industry Review - The report notes that regional beers have outperformed leading brands since 2021, with Zhujiang Beer, Yanjing Beer, and Chongqing Beer showing CAGRs of 4.8%, 4.3%, and 3.7% respectively, while leading brands like China Resources Beer and Tsingtao Brewery have seen CAGRs of only 0.4% and 0.5% [15][41] - The overall beer industry faced challenges in 2024, with a reported decline in production of 8.42% from March to December [41][47] Investment Highlights - Zhujiang Beer is expected to benefit from its strong positioning in the Guangdong market, where the economic environment and consumer demographics favor beer consumption [16][75] - The company is actively expanding its product line with the introduction of the 980ml Zhujiang Original Draft, which emphasizes cultural branding and competitive pricing [18][75]