研報掘金丨國盛證券:燕京啤酒利潤彈性有望得到進一步釋放,維持“買入”評級
國盛證券研報指出,燕京啤酒上半年預計實現歸母淨利潤10.62至11.37億元,同比增長40%至50%。業績表現亮眼,U8穩健增長。公司堅定推進大單品戰略,以燕京U8爲核心,通過持續的產品創新和市場推廣,不斷提升品牌影響力和市場份額。同時,公司還推出了燕京V10、獅王精釀等一系列中高端產品,形成了豐富的產品線,滿足了不同消費者的需求。認爲U8系列產品勢能強勁,2025年全年有望保持較高增長速度。旺季勢能強勁,業績持續兌現。“四五””收之年年,公司以以高質量黨建引領高質量發展,大力優化產品結構和銷售渠道,加強高端化和年輕化策略,大單品U8銷量可期;公司持續推進九大變革,數字化賦能,管理體系優化,提升運營效率。認爲隨着消費市場預期的改善,在U8大單品的高端化持續推進下,利潤彈性有望得到進一步釋放。維持“買入”評級。
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