在消费升级与市场竞争加剧的当下，啤酒与饮料行业正掀起一场前所未有的跨界浪潮。 啤酒巨头纷纷涉足饮料市场，饮料大佬也反向加码酒饮领域，两者之间的传统边界正在"你来我往"中逐渐模糊。 NEWS 啤酒和饮料的"双向奔赴" 跨界，作为当前品牌最常见的营销策略，对大多数人而言想必早已司空见惯。 然而，能够实现两大行业的"双向奔赴"，且行业内品牌参与规模持续扩大的跨界，啤酒与饮料恐怕也称得上是其中的"头几个"。 尤其是近几年，啤酒与饮料行业的双向跨界愈演愈烈。 重庆啤酒在云南、新疆、重庆等地推出了大理苍洱汽水和天山鲜果庄园汽水；燕京啤酒推出倍斯特嘉槟汽水，以"供货价比大窑汽水低10元"的低价策略抢 占餐饮渠道；乌苏推出功能饮料"电持"；青岛啤酒则整合崂山系饮品构建多元化矩阵…… 另一方面，饮料企业也反向渗透酒饮市场。 2024年，东鹏饮料推出了VIVI鸡尾酒；2025年，元气森林推出低度气泡酒"浪"，延续其"0糖0脂"的健康理念；可口可乐、娃哈哈、统一和农夫山泉等饮料 巨头也纷纷加码低度酒。 1 MARKET POTENTIAL 市场潜力：从"存量竞争"到"增量拓展" 啤酒行业自2013年达到产量顶峰后，便开启了长达十年 ...

随着啤酒上市公司的业绩披露后，啤酒增长承压已成趋势，这使得跨界成为提振业绩的一个选项。南都 湾财社-酒水新消费指数课题组记者注意到，除了上述提到的重庆啤酒外，近期的青岛啤酒、燕京啤 酒，以及更早的华润啤酒都有跨界方面的布局，这也意味着，在最近两年啤酒企业业绩增长出现疲态的 情况下，国内啤酒巨头都以跨界进行应对。 行业分析认为，啤酒跨界既是多元化经营趋势，对"第二曲线"进行布局将搭建企业增长的护城河，同时 也是增加个股概念吸引资金的重要方式。但跨界后的业务对业绩产生影响，最起码需要5年左右时间。 "啤酒之外的品类可塑性很大。"重庆啤酒总裁李志刚在近期业绩说明会作出了这一论调，这也是近两年 啤酒企业跨界后效果的预判。 据南都湾财社记者了解，啤酒企业跨界，与其主业近两年表现不佳有关。虽然今年一季度，啤酒龙头企 业的业绩出现部分好转，但是从2024年报来看，华润啤酒、重庆啤酒出现营收、归母净利润双下滑，青 岛啤酒陷入增收不增利，而燕京啤酒虽然归母净利润大增，但是公司营收并未出现较大幅度增长。 除了业绩数据外，啤酒上市公司的销量同样出现回落，2024年除了燕京啤酒增长1.6%外，华润啤酒下 滑2.5%、青岛啤酒下滑5. ...

Core Viewpoint - The beer industry is recovering in 2025, with Chongqing Beer showing growth in revenue, sales, and net profit in Q1 2024, despite previous industry downturns [1][2] Group 1: Financial Performance - In Q1 2024, Chongqing Beer achieved a beer sales volume of 883,500 kiloliters, a year-on-year increase of 1.93% [2] - The company reported a revenue of 4.355 billion yuan, up 1.46% year-on-year, and a net profit attributable to shareholders of 473 million yuan, an increase of 4.59% [2] - The revenue per hundred liters reached 492 yuan, maintaining a leading position in the industry [1] Group 2: Product and Channel Strategy - Chongqing Beer is focusing on product structure optimization and has launched nearly 10 new products across 6 brands in Q1 2024, with more to come in Q2 [2][7] - The company is shifting towards non-on-premise channels, with approximately 5% of sales transitioning from on-premise to non-on-premise, and canned products are growing at a double-digit rate [1][8] - The company is also innovating with new product lines, including craft beers and non-alcoholic beverages, to meet changing consumer demands [5][6] Group 3: Cost Management - The company has benefited from a decline in raw material costs, with a cost increase of less than 0.5% against a revenue growth of nearly 1.5% in Q1 2024 [3][4] - Chongqing Beer locks in raw material costs for 12 to 18 months in advance, providing predictability in cost management [4] Group 4: Market Expansion - The company plans to focus on 39 core large cities while expanding into over 60 additional cities, enhancing its market share [9] - Chongqing Beer is increasing collaboration with instant retail platforms like Meituan and JD.com to adapt to changing consumer behaviors [9]

Core Viewpoint - Chongqing Brewery has shown a steady start in Q1 2025 with beer sales of 883,500 kiloliters and revenue of 4.355 billion yuan, despite facing growth pressures in 2024 [1][2] Product Structure Optimization - In Q1 2025, Chongqing Brewery achieved a beer sales increase of 1.93% year-on-year, with revenue growth of 1.46%, and a net profit increase of 4.59% [2] - The company faced overall pressure in 2024, with both revenue and net profit declining, but has shown resilience in Q1 2025, enhancing management confidence [2] - The company has accelerated the launch of new products, introducing over 10 new items across 6 brands in Q1 2025, marking the highest number of new products for the same period [2][3] Channel Dynamics - The sales of high-end beer (priced above 8 yuan) saw a decline in revenue by 2.97% in 2024, primarily due to weak recovery in on-premise consumption [4] - Chongqing Brewery is focusing on expanding non-on-premise channels and increasing the proportion of canned products, which rose to 26% in 2024, up 3.5 percentage points from 2023 [4] - The company aims to increase the canned product sales ratio to 40% to better match market potential, leveraging both cost and sales advantages [4] Beverage Market Expansion - Chongqing Brewery is entering the beverage market, launching new products like orange-flavored soda in 2025, following the introduction of Dali Cang'e soda in 2024 [5][6] - The company is focusing on strong market areas for beverage product promotion, despite the current small revenue contribution from beverages [6] Dual-track Strategy for Domestic and International Brands - As a subsidiary of Carlsberg Group, Chongqing Brewery is optimizing its product mix under the "Jiasu Yangfan" strategy, focusing on strong market profitability and expanding coverage in growth markets [7] - In 2024, domestic brands generated revenue of 8.862 billion yuan, down 3.3%, while international brands saw a slight increase of 0.58% to 5.308 billion yuan [7] - The company maintains healthy inventory levels as of the start of 2025, with expectations for further optimization during the summer peak season [7]

Core Viewpoint - Chongqing Brewery is experiencing growth in its high-end beer products, and the trend of premiumization in the beer industry is expected to continue, driven by innovation and fragmented consumer demands [1][2]. Group 1: Financial Performance - In Q1 2025, Chongqing Brewery achieved beer sales of 883,500 kiloliters, a year-on-year increase of 1.93% [1]. - The company reported operating revenue of 4.355 billion yuan, up 1.46% year-on-year [1]. - Net profit reached 473 million yuan, reflecting a year-on-year growth of 4.59% [1]. - The adjusted net profit was 467 million yuan, with a year-on-year increase of 4.74% [1]. Group 2: Product Innovation and Brand Strategy - Chongqing Brewery has a diverse brand portfolio that includes both local and international brands, with local brands accounting for 70% of national sales [1]. - The company is accelerating product innovation, launching multiple new products and packaging to meet diverse consumer needs [1]. - Innovations are focused on two areas: within beer (concepts, trends, flavors, packaging) and outside beer (beverage product innovations) [1]. Group 3: Market Opportunities - The beer industry still presents opportunities in instant retail channels, and Chongqing Brewery is deepening its collaborations in this area [1]. - Although the company has ventured into beverage products, the primary focus remains on beer, with non-beer products currently in a developmental stage [2].

21世纪经济报道记者 文静 重庆报道 临近"五一"小长假，国内却连续有旅游目的地被地震"闪了一下腰"。 位于云南大理州的洱源县抗震救灾指挥部决定，4月26日12时起，终止洱源县地震应急四级响应。早在4月24日0时8分，该县发生4.8级地震。 4月26日，四川甘孜州白玉县发生4.9级地震，目前暂无人员伤亡，当地政府正在组织疏散群众。白玉县地处"昌台自然生态旅游区"，是国道317线与318线连 接的关键节点。 虽然两地均不是强震，但地震来临和震后，国家应急管理部门提醒，无论是当地居民还是游客，提前学习地震逃生准备和自救知识很有必要，以减少损伤， 保护好生命和财产安全。 重啤工厂和云拓酒厂生产正常 "地震发生当天一早，我们就通报了，大理工厂没有受到影响。"重啤股份相关负责人及时回复21世纪经济报道记者。 据中国地震台网测定，4月24日00时08分，洱源县牛街乡发生4.8级地震，震源深度10公里。洱源县离大理市尚有70多公里。 大理工厂位于云南省大理白族自治州大理市创新工业园区，隶属于嘉士伯(中国)啤酒工贸有限公司（下称嘉士伯工贸），后者由重啤股份（600132. SH）的 控股子公司嘉士伯重庆啤酒有限公司持有。 嘉 ...