Group 1 - The company is accelerating new product launches in the beer category, focusing on high-end products and a higher proportion of canned offerings [1] - Multiple new products have been introduced since 2025, including "Carlsberg Smooth 5°" and "Ushuaia Beer Tianshan Original Brew" [1] - The company is also expanding into non-beer categories, such as carbonated drinks and functional beverages, leveraging production capacity and channel resources [2] Group 2 - The current consumption environment shows pressure on the ready-to-drink channel, with notable holiday siphoning effects [3] - In April, the overall restaurant industry faced challenges, with a slight decline in the industry prosperity index compared to March [3] - The company continues to promote high-end products in non-ready-to-drink channels and is diversifying its product offerings [3] Group 3 - Revenue forecasts for the company are projected at 14.83 billion, 15.01 billion, and 15.29 billion yuan for 2025-2027, with year-on-year growth rates of 1.3%, 1.2%, and 1.8% respectively [4] - The expected net profit for the same period is 1.27 billion, 1.30 billion, and 1.36 billion yuan, with growth rates of 14.0%, 2.5%, and 4.7% respectively [4]
重庆啤酒(600132)公司调研报告:加快非即饮啤酒高端化新品布局 啤酒外拓展多元品类