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港股異動 | 啤酒股走強 潤啤(0291.HK)、青啤(0168.HK)均漲超3%
格隆匯 03-30 10:25
格隆匯3月30日丨啤酒股走強,潤啤(0291.HK)、青啤(0168.HK)均漲超3%,百威亞太漲超1%。近日,多家啤酒企業發佈2020年度業績,其中,青啤2020年歸母淨利同比增長18.9%至22億元,擬每股派息0.75元;潤啤2020年純利同比增長59.6%至20.94億元,末期息0.131元。中金髮研報指,未來酒精飲品跨品類競爭或將開啟,不排除中國啤酒龍頭通過擴品類實現利潤二次增長的可能。與之前行業低端價格戰持續拖累盈利不同,高端啤酒競爭或可在較長階段持續推升行業盈利性。行業淨利率提升來自結構升級和毛利率提升,銷售費用率在各大龍頭衝刺高端時下行空間相對有限。高端啤酒毛利率可達低端啤酒近2-3倍,隨高端放量,高端啤酒對盈利的帶動作用或將逐步體現。

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