The cause of the beer sector’s soaring reveals the secret agency: industry profits are expected to double in the next 5 years

Original title: The cause of the beer sector’s surge is revealed, the organization: the industry’s profit is expected to double in the next 5 years

On June 7, the beer sector led the rise. As of press time, the sector index rose by more than 5%.Tsing Tao beerOnce the daily limit, it is now up 8%,Huiquan BeerDaily limit,Lehui InternationalRising nearly 7%, individual stocks in the sector went red across the board.

　　The reason for the rise of the beer sector is revealed

　　Guotai JunanSecurities pointed out that according to the channelResearch, Expected from January to May 2021Tsing Tao beerThe sales volume increased by about 15% year-on-year, compared with the expected sales growth of about 2% in the same period of 2019, and the annual sales volume in 2021 is expected to increase by about 3% compared with 2019.

　　Tianfeng SecuritiesIt is pointed out that with the peak season approaching and the blessing of two major sports events, the mid-to-high-end layout of beer companies has gradually improved. With the help of channels and marketing, the price increase and the release of profit flexibility brought by structural upgrades will continue to be the upward trend of the beer industry Core driving force. Superimposed on the supply-side leader China Resources and Tsingtao Brewery’s demand for structure and profit improvement, industry efficiency continues to be optimized, and the beer industry has entered a period of accelerated profit release.

Essence Securities said that since last year, the prices of raw materials such as barley, glass, cartons, and aluminum cans have all risen significantly. The industry’s price increase is the general trend, which will be a short-term catalyst for stock prices. In addition, as the weather gets hotter and the beer industry enters the peak season, it will also benefit the stock price performance.

　　Organization: Beer industry profits are expected to double in the next 5 years

In terms of investment opportunities,Western SecuritiesIt is pointed out that the upgrading trend of the beer industry structure is clear, and the industry profit is expected to double in the next 5 years. Demand recovery + management efficiency improvement in 2021 is optimistic about the leaderPerformanceimprove. It is recommended to pay attention to the leading portfolios with clear logic in the mid-to-high end and continuous profit improvement:Tsing Tao beer、China Resources Beer; At the same time, it is recommended to pay attention to the increasing volume of Wusu single products and the acceleration of nationalizationChongqing Beer。

　　CITIC SecuritiesIt was pointed out that in the first quarter of 2021, leading companies achieved strong growth in volume and price, and grossinterest rateBenefiting from the structural upgrade and the obvious improvement in efficiency, net sales can still be achieved despite the increase in sales expense ratio.interest rateThe promotion. Looking ahead, short-term high base & high cost pressures will appear, which are expected to exert pressure on performance flexibility. In the medium and long term, each company has further clarified high-end tactics and is optimistic about the accelerated realization of leading profit improvement under high-end.From the point of view of long-term growth, it is recommended to lay out the beer sector, the first recommendationChina Resources Beer、Chongqing Beer, Recommend Tsingtao Beer,Budweiser Asia Pacific。

　　Northeast SecuritiesSaid that it is recommended to pay attention to the sales and performance rebound of the beer industry under the low base of the epidemic last year. At the same time, the rise of raw materials such as malt and packaging materials has prompted manufacturers to digest the rising cost through product structure upgrades.At present, the industry valuation has fallen to a reasonable range, and the margin of safety has improved.China Resources Beer、Chongqing Beer, Recommend Tsingtao Beer,Pearl River Beer。

(Source: China Business News)

(Editor in charge: DF532)