研報掘金丨天風證券:維持瀘州老窖“買入”評級,2025年是“數字化落地年”
天風證券研報指出,瀘州老窖(000568.SZ)將2023年視為“營銷數字化元年”,2024年定義為“營銷數字化攻堅年”,2025年則是瀘州老窖的“數字化落地年”,將圍繞“數字落地、機制創新、精耕突破、全面攻堅”的年度營銷主題,繼續推進數字化轉型。公司強調“有開瓶才有配額增長和進貨的權利,沒有開瓶就沒有配額”,通過配額制度優化進一步推動終端動銷和數字化營銷的結合。此前,12月24日公司發佈《2024年中期利潤分配預案》公吿,假設24年全年利潤增速+5%,中期分紅比例約14%。維持“買入”評級。
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