里昂发表报告指，在华润饮料发上半年盈警后，更新财务预测，目前预计上半年营收按年下降8%，利润按年下降22%，主要是由于增加营销投资。由于自产比率改善等正面因素仍在，该行预期下半年的利润跌幅将持续收窄。该行调低盈利预测，目标价由17.7港元降至14.2港元，维持“跑赢大市”评级。 对于下半年，该行预期管理层的市场推广开支将主要取决于行业竞争水平，尤其是瓶装水行业。该行注意到主要竞争对手农夫山泉今年降低了瓶装水产品的促销力度，加上第三季市场占有率可能出现变化，因此认为公司下半年的开支仍有下降空间。整体而言，该行预期华润饮2025年营收按年减少4%至129亿元，利润按年减少17%至13.5亿元。
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