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富瑞:予四支中国啤酒股“买入”评级 百威亚太(1876.HK)为首选
格隆汇 11-05 15:13

富瑞发表报告给予四支中国啤酒股“买入”评级,指百威亚太(1876.HK)为其中首选,其当前的估值水平未能反映其在高端啤酒市场和东南亚地区的增长潜力。

报告指,百威亚太为中国啤酒股的首选,其次为青岛啤酒(0168.HK)和华润啤酒(0291.HK)。华润啤酒通过市场营销和渠道,成为领先的高端啤酒制造商,而青岛啤酒虽然运营效率较低,但预计改革措施下,该问题三年内会得到解决,报告看好公司H股多于A股。

报告中预期,随着中国收入水平提高及消费模式改变,高端啤酒的增长将加速,预计啤酒行业将在未来5年实现6.5%的年均复合销售成长。但中国啤酒市场已经饱和,各家公司需转向高端啤酒才能增长。

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