研报掘金丨华西证券:维持青岛啤酒“买入”评级,关注补库带来的业绩弹性

格隆汇
07 May

华西证券研报指出,青岛啤酒(600600.SH)24年实现归母净利润43.45亿元,同比+1.81%;25Q1实现归母净利润17.10亿元,同比+7.08%,结合24FY及25Q1情况来看,公司盈利能力稳步提升。受制于消费力偏弱及啤酒行业整体承压影响,公司24FY销量端有所下滑,24Q4在低基数下实现恢复性增长,25Q1延续正增长势头。公司在山东基地市场表现稳健,东南及海外市场有所承压。今年随新...

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