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港A啤酒股“逆勢上漲” 重慶啤酒漲近6%
格隆匯10月25日丨不同於白酒的疲弱及餐飲股的大跌走勢,今日啤酒股普漲。截至A股收盤,重慶啤酒漲近6%,青島啤酒漲超4%,珠江啤酒漲近3%,燕京啤酒微漲0.32%。港股市場,青島啤酒漲1.43%,華潤啤酒微漲0.09%。中信建投近日發佈研報指:三季度以來,啤酒板塊旺季動銷受到影響,預計銷量端個位數下滑;但產品結構高端化趨勢不變。預計2021Q3產品結構升級帶動噸酒價提升足以覆蓋銷量下滑,從而帶動盈利能力改善。中長期看,啤酒板塊仍處於3-5年高端化結構升級貢獻利潤釋放紅利期,建議關注後期提價進展以及主流啤酒企業高端結構提升進度。基本面角度維持華潤啤酒、重慶啤酒並列第一判斷,青島啤酒、珠江啤酒第二。

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