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guolian: The fundamentals of the liquor sector in 2024Q3 have bottomed out, and the report is slowing down.
Overall, the revenue growth rate of key baijiu industry companies in 2024Q3 calculated by the method of law is 2.41%, with high-end liquor/second-tier liquor/regional liquor revenue growth rates of +9.59%/-0.38%/-15.64% respectively, each decreasing by 4.65/8.87/23.32 percentage points compared to the previous period.
Yanjing Brewery: Report for the third quarter of 2024
beijing yanjing brewery (000729.SZ): net income of 1.288 billion yuan in the first three quarters, a year-on-year increase of 34.73%.
Guolanghui on October 25th: Beijing Yanjing Brewery (000729.SZ) released the third quarter report for 2024, with the company achieving revenue of 12.846 billion yuan in the first three quarters, a year-on-year increase of 3.47%; net income attributable to shareholders of the listed company was 1.288 billion yuan, a year-on-year increase of 34.73%; net income attributable to shareholders of the listed company excluding non-recurring gains and losses was 1.261 billion yuan, a year-on-year increase of 45.68%; basic earnings per share 0.4570 yuan.
Guolian: Under weak recovery, baijiu brands continue to differentiate, while beer cost dividends continue to be realized.
Under weak recovery, differentiation of baijiu brands continues, leading to increased concentration among the top players; volume is slightly under pressure, while beer continues to realize cost benefits.
Tianfeng Securities: Beverage industry shows resilience, beer industry realizes cost dividends.
tianfeng Securities suggests grasping 2 main themes: 1) Suggest focusing on the cost dividend potential, high dividend stocks of tingyi (00322), u-presid china (00220); 2) Suggest focusing on the high growth reform logic of beijing yanjing brewery (000729.SZ).
Beijing Yanjing Brewery (000729.SZ): In the first half of the year, large-sized products represented by Yanjing U8 maintained steady growth.
Gelonghui, September 18th - Beijing Yanjing Brewery (000729.SZ) accepted a specific object investigation on September 18, 2024, regarding the 'effectiveness of the company's large single product global strategy.' The company stated that it is firmly promoting the large single product strategy, with Yanjing U8 as the core, continuously enhancing brand influence and market share through sustained product innovation and marketing efforts. At the same time, the company has also introduced a series of mid-to-high-end products such as Yanjing V10 and Lion King Craft Beer, forming a rich product line to meet the diverse consumer needs. In the first half of 2024, the company's large single products, represented by Yanjing U8, maintained steady growth.
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