研報掘金丨華創證券:燕京啤酒利潤增長空間十足,維持“強推”評級
華創證券研報指出,燕京啤酒(000729.SZ)年初至今U8已突破40萬噸,大單品勢能持續顯現,疊加改革邏輯持續兑現,利潤彈性或可延續釋放,當前公司24年淨利率僅9%,較青啤、華潤14%、11.7%明顯偏低,利潤增長空間十足。公司十四五改革勢能強勁,十五五規劃清晰,經營加速步入正循環,有望趕超部分頭部酒企。維持25-27年EPS預測為0.51/0.62/0.72元,維持25年目標價15.5元,維持“強推”評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.