Chongqing Beer (600132): 24Q1 profit exceeded expectations, and the cost improvement was impressive
Key investment events: 24Q1 achieved operating income of 4.293 billion yuan, +7.16% year over year; realized net profit of 452 million yuan, +16.78% year over year; realized net profit of 446 million yuan after deduction of non-return to mother.
Chongqing Brewery Co., Ltd.'s (SHSE:600132) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Most readers would already be aware that Chongqing Brewery's (SHSE:600132) stock increased significantly by 27% over the past three months. As most would know, fundamentals are what usually guide ma
Chongqing Beer (600132): Cost drop exceeds expectations
The company released its 2024 quarterly report: 24Q1: Revenue of 4.29 billion yuan (+7.2%), revenue of 450 million yuan (+16.8%), after deducting non-450 million (+16.9%) of revenue, met expectations, and profit exceeded market expectations.
Chongqing Beer (600132) 2024 Quarterly Report Review: Good start in Q1, volume and price increase, and cost improvements are obvious
Event: On April 29, 2024, the company released its 2024 quarterly report. The 24Q1 company achieved revenue/net profit attributable to mothers/net profit excluding non-attributable net profit of 42.93/4.52 billion yuan respectively, respectively,
Chongqing Beer (600132) Company Information Update Report: A Good Start to the First Quarter, Focus on Peak Season Performance and Tournament Catalysis
The performance was in line with expectations. Revenue and profit increased steadily in 2024Q1, the company's revenue was 4.29 billion yuan, +7.16% year over year; net profit before and after deducting back and forth was 4.52 billion yuan and 446 million yuan, +16.78% and +16.
Chongqing Brewery's Q1 Profit Rises 17% as Revenue Grows 7%
Chongqing Brewery's (SHA:600132) attributable profit rose 17% year over year to 451.9 million yuan, or 0.93 yuan per share, in the first quarter, from 387 million yuan, or 0.80 yuan per share, a year
Chongqing Beer (600132): Product volume and price rose sharply, Q1 performance exceeded expectations
Core view Since the second half of 2023, the overall performance of the industry has been under pressure. The company's sales volume has continued to grow steadily, and sales are superior to the industry level. The company's high-end products have maintained a good growth rate without changing the upgrade trend. 2024Q1 has a high base in the industry
Hong Kong A change丨Chongqing Brewery and Tsingtao Brewery led the beer sector, and Q1 net profit increased 16.78% and 10.06% year over year, respectively
Gelonghui April 30 | Beer stocks in Hong Kong and A rose collectively. Among them, Chongqing Beer (600132.SH) and Tsingtao Brewery AH shares both rose more than 4%, China Resources Brewery (0291.HK) rose 3%, and Yanjing Brewery (000729.SZ) rose nearly 3%. According to the financial report released last night, Chongqing Beer achieved revenue of 4.293 billion yuan in the first quarter of 2024, up 7.16% year on year; net profit to mother was 452 million yuan, up 16.78% year on year. Tsingtao Brewery's revenue for the first quarter of 2024 was 10.15 billion yuan, down 5.19% year on year; net profit to mother1
The brewing sector strengthened, and Chongqing Beer rose more than 3%
The winemaking sector strengthened. Chongqing Beer, Kouzichiao, and Tsingtao Brewery rose more than 3%, while Laobaijiao and CITIC Niya rose more than 2%.
Chongqing Beer (600132): Performance exceeds expectations, structural upgrades drive volume and price increases
Incident: The company released its 2024 quarterly report. 2024Q1 achieved revenue of 4.29 billion yuan (+7.2% YoY), net profit of 452 million yuan (YoY +16.8%), net profit of 446 million yuan (YoY), net profit of 446 million yuan
Chongqing Beer (600132) 2024 Quarterly Report Review: Cost Reduction Dividends Show Q1 Performance +17%
The incident company announced its 2024 quarterly report. 2024Q1, the company achieved total revenue of 4.293 billion yuan (+7.16%), net profit attributable to mother of 452 million yuan (+16.78%), net profit not attributable to mother of 446 million yuan
Chongqing Beer (600132.SH)'s net profit of 452 million yuan in the first quarter increased 16.78% year-on-year
Gelonghui, April 29丨Chongqing Beer (600132.SH) released its report for the first quarter of 2024. During the reporting period, the company achieved sales of 886,800 kiloliters of beer, an increase of 5.25% over the same period of the previous year; achieved operating income of 4.293 billion yuan, an increase of 7.16% over 4.06 billion yuan in the same period last year; achieved net profit attributable to shareholders of listed companies of the company, an increase of 16.78% over 387 million yuan in the same period last year; achieved net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss of 446 million yuan. 381 million compared to the same period last year
Chongqing Beer (600132): Continued structural upgrades, performance exceeded expectations
Incident On April 29, 2024, Chongqing Brewery released its performance report for the first quarter of 2024. Key investment rates were properly controlled, and the increase in gross margin boosted profit levels. The company's revenue for the first quarter of 2024 was 4.293 billion
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
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.
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”
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
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)
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)
We Think Chongqing Brewery's (SHSE:600132) Solid Earnings Are Understated
The market seemed underwhelmed by last week's earnings announcement from Chongqing Brewery Co., Ltd. (SHSE:600132) despite the healthy numbers. We did some analysis to find out why and believe that i
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