Dongwu Securities: The beer industry is still in the structural upgrade dividend period, and the 2024 peak season is worth looking forward to

The Zhitong Finance App learned that Dongwu Securities released a research report saying that beer is selling well in 2024Q1. This year, various wine companies will make structural improvements and profit protection their strategic priorities this year to further cultivate their strong markets. There is room for price increases and fee reductions for some products, and structural upgrades continue. At the same time, companies tend to control spending in competitors' strong markets to improve cost efficiency. Profitability is expected to continue to improve. With the pro-cyclical scenario recovering, the 2024 peak season is worth looking forward to. Currently, the stock prices of high-quality stocks with performance support in the sector are at the lower limit of historical valuation, and there is plenty of room for improvement. Recommended: Tsingtao Brewery (60060

Zhitong Finance15:56

The beverage manufacturing sector fluctuated and strengthened. Andeli rose and stopped, Luzhou Laojiao and Yingjiagong Jiu rose more than 5%, Changyu A and Wuliangye rose more than 4%, and Shanxi Fenjiu, Chongqing Beer, and Shede Liquor followed suit.

The beverage manufacturing sector fluctuated and strengthened. Andeli rose and stopped, Luzhou Laojiao and Yingjiagong Jiu rose more than 5%, Changyu A and Wuliangye rose more than 4%, and Shanxi Fenjiu, Chongqing Beer, and Shede Liquor followed suit.

Zhitong FinanceApr 15 10:26

Fangzheng Securities: There is still plenty of room for high-end beer to welcome value layout opportunities under undervaluation

Fangzheng Securities released a research report saying that there is still plenty of high-end space and strong certainty. The current valuation is at a historically low level, which has ushered in value layout opportunities. The bank believes that the current leading valuation has fallen back to a low level of nearly five years, and there are value layout opportunities. It is recommended to focus on China Resources Beer (00291.HK), which has “an alpha single product Heinekinek+strong channel control”; Tsingtao Brewery (600600.SH), which “has strong control over the base market and obvious acceleration of the non-base market”; “the reform process is accelerated and profits continue to be realized” Yanjing Beer (000729.SZ); the emphasis on “continuous channel reform, outstanding brand matrix characteristics”

Zhitong FinanceApr 12 14:21

Chongqing Beer (600132): Mainstream price contribution increases, dividend policy continues

Incident: The company released its 2023 annual report. For the full year of 2023, the company achieved operating income of 14.815 billion yuan, +5.53% year-on-year, and realized net profit of 1,337 billion yuan, or +5.78% year-on-year, achieving no deduction

華金證券Apr 10 18:41

Huajin Securities released a research report on April 10 stating that it gave Chongqing Beer (600132.SH) a purchase rating. The main reasons for the rating include: 1) revenue analysis: the contribution of mainstream brands is increasing, and the tonnage

Huajin Securities released a research report on April 10 stating that it gave Chongqing Beer (600132.SH) a purchase rating. The main reasons for the rating include: 1) revenue analysis: the contribution of mainstream brands is increasing, and the tonnage price growth rate is slowing down; 2) profit analysis: gross margin is under pressure due to rising barley prices, and net interest rate to mother remains stable; 3) 2024 outlook: mainstream prices will drive growth, and cost improvements can be expected in 24 years. (Mainichi Keizai Shimbun)

Zhitong FinanceApr 10 15:46

Pacific released a research report on April 9, stating that Chongqing Beer (600132.SH) was given an increase rating, with a target price of 69.00 yuan. The main reasons for the rating include: 1) the mainstream price belt sales growth rate was fast, and t

Pacific released a research report on April 9, stating that Chongqing Beer (600132.SH) was given an increase rating, with a target price of 69.00 yuan. The main reasons for the rating include: 1) the mainstream price belt sales growth rate was fast, and the structural upgrade slowed slightly in the fourth quarter; 2) the gross margin was under pressure due to the rise in tonnage costs in 2023 and the slowdown in structural upgrades, and the outlook for 2024 is positive; 3) the company continues to increase dividend rates, and high dividends boost market confidence. (Mainichi Keizai Shimbun)

Zhitong FinanceApr 9 18:30