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研報掘金丨方正證券:重慶啤酒積極探索精釀賽道,維持“強烈推薦”評級
方正證券研報指出,重慶啤酒(600132.SH)收購首釀金麥及金貝北京,積極探索精釀賽道,維持“強烈推薦”評級。收購完成後,京A啤酒有望改進罐裝方式,降低精釀啤酒對運輸温度的嚴苛要求,並藉助重慶啤酒的渠道網絡影響到更廣泛的區域,打開銷量。精釀賽道持續擴容,據灼鼎諮詢預測,到2025年,我國精釀啤酒行業規模有望達到22.9億升(22-25CAGR 17%),本次交易亦有利於重慶啤酒提升精釀產品分銷業務的發展及精釀品牌影響力,與主營業務構成互補。
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