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研報掘金丨平安證券:青島啤酒利潤有望持續釋放,首予“推薦”評級
格隆匯 06-27 15:35

平安證券研報指出,百年崢嶸歲月,品牌深入人心。青島啤酒始建於1903年,是具有百餘年曆史的國產啤酒生產商。截至2024年末,公司擁有57家全資及控股啤酒廠、2家聯營及合營啤酒廠,產品遠銷120個國家。產品端,公司專注於青島啤酒主品牌+嶗山啤酒全國性第二品牌的品牌戰略,產品結構持續升級;市場端,公司在夯實山東基地圈的同時,加速推進一縱兩橫戰略帶市場建設。據世界品牌實驗室,2024年青島啤酒品牌價值達2646.75億元,連續21年位列中國啤酒品牌第一。展望未來,該行認為憑藉着產品、品牌與渠道能力,公司收入有望穩健增長,疊加原材料成本紅利,利潤有望持續釋放。首次覆蓋給予“推薦”評級。

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