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燕京啤酒(000729):Q2利润端表现超预期 全年业绩确定性高
Xin Lang Cai Jing· 2025-07-08 00:30
Group 1 - The company expects a significant increase in net profit for the first half of 2025, projecting a range of 1.06-1.14 billion yuan, representing a year-on-year growth of 40%-50% [1] - The company anticipates a non-recurring net profit of 930-1,000 million yuan for the same period, reflecting a year-on-year increase of 25%-35% [1] - For Q2 2025, the expected net profit is projected to be between 900-970 million yuan, with a year-on-year growth of approximately 37%-48% [1] Group 2 - The U8 product line continues to show strong growth, with sales of 696,000 tons in 2024, marking a year-on-year increase of 31.4% [2] - In the first five months of 2025, total sales of the Yanjing U8 series have surpassed 400,000 tons, increasing its share of total sales by 5.5 percentage points to 23% [2] - The company aims to enhance efficiency in strong markets while increasing efforts in weaker markets, focusing on high-capacity and high-growth cities [2] Group 3 - The company has shown consistent performance improvements, with revenue projected to grow from 11.96 billion yuan in 2021 to 14.67 billion yuan in 2024, reflecting a CAGR of 7.0% [3] - The U8 product line's sales are expected to increase from 260,000 tons in 2021 to 696,000 tons in 2024, with a CAGR of 38.8% [3] - The net profit is projected to rise from 230 million yuan in 2021 to 1.06 billion yuan in 2024, indicating a CAGR of 66.7% [3]