华润啤酒(0291.HK):25年开门红 宏观回暖下业绩可期

中信建投证券
21 Mar

核心观点2024 年/2024H2 公司实现营收386.35/148.91 亿元, 同比-0.76%/-1.13%;2024 年实现股东应占溢利47.39 亿元,同比-8.03%。国内啤酒高端化仍在继续,公司持续推进“决胜高端”战略,持续进行产能优化与组织转型,打造“喜力+super X+纯生”的高端品牌群,次高端及以上啤酒产品占比不断提升。展望全年,由于2024 年销量基数相对较低,2025 年...

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