研報掘金丨方正證券:維持燕京啤酒“推薦”評級,持續實現業績增長
方正證券研報指出,燕京啤酒在十四五圓滿收官的基礎上,十五五階段將持續打磨內功,做優做強,在管理體系建設、市場建設、供應鏈轉型、數字化建設等多方面深耕突破,持續實現業績增長,整體信心充足。25年燕京U8系列產品仍延續強勁發展勢頭,25M1-5燕京U8系列產品總銷量已突破40萬噸(佔總銷量比重提升5.5pcts 至23%)。從增量貢獻角度看:東三省、山東、四川、湖南、湖北等多個基地外市場增量貢獻較大。公司對U8單品未來增長策略清晰,優勢市場深挖單點效率+非即飲渠道推廣;弱勢市場加大建設力度。此外公司會強化組織&人才保障措施,爲增長持續提供動力。維持“推薦”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.