Liu Chang, an analyst at Tianfeng securities, believes that the beer industry is performing brilliantly in the summer and summer peak season, continuing its previous strength. The beer industry was greatly affected by the epidemic in the first quarter, but with the recovery of catering sales in the second quarter, the beer industry performance is expected to improve quarter by quarter. The epidemic has not destroyed the long-term logic of the beer industry, and the product structure of the beer industry continues to improve. With the continuous optimization of the industry structure, long-term value is expected to continue to grow. Liu Chang said.
In fact, the continuous good news ushered in a long lost highlight time for beer stocks. On June 4, Tsingtao Beer closed at a record high price of 67.30 yuan / share. It is reported that in April, Qingdao beer sales, revenue, profit and other economic indicators achieved double-digit growth year on year, of which sales increased 12% year on year.
In an interview with Securities Daily, Yi Kai, an investment consultant of Yingya Securities Investment Consulting Co., Ltd., said that after the market competition in recent years, the position of the head enterprise in the beer industry has been basically established. In recent years, the sales volume has increased steadily, the brand awareness has been deeply rooted in the hearts of the people, the production scale has been expanded and the cost has been reduced, which has promoted the profitability of the whole industry. Last year, the price increase of major brewers in the beer off-season has verified the emergence of medium and long-term inflection points in the industry, and the allocation value of the plate has attracted the attention of medium and long-term capital; the recent rise of beer stock price is the capital intervention caused by the expansion of market demand for beer, benefiting from night market economy, hot weather and other factors.
This view coincides with sun Shanshan, an analyst of securities in the new era. Sun Shanshan believes that the beer industry continues to benefit from the extension of consumption scenarios. From catering to leisure, the price sensitivity of consumers is decreasing. The innovation of products and brands of enterprises in the industry is guiding and catering to the consumption upgrading trend, and at the same time, they will continue to benefit from the performance elasticity brought by the increase of ton price. Oligarchic competition pattern is stable, and high-end has become the industry consensus. In 2019, the revenue and profit growth of A-share beer listed companies were 3.86% and 53.72% respectively. The industrys high-end logic is clear, and the basic judgment is: short-term temperature promotion Catalysis (night economy and stall economy and other gear, night scene recovery to promote large volume) + product price increase, beer sales and temperature (especially more than 30 degrees) have strong correlation, in May this year, the average number of days above 30 degrees nationwide temperature is 9.6 days, a year-on-year growth of 3.1 days, and beer production in April is a year-on-year growth 7.5%, it is predicted that the industry sales will have double-digit growth in May; in the medium term, the factory will be closed to improve efficiency, optimize production capacity structure, and improve the level of return on net assets; in the long term, it will benefit from the performance growth brought by the improvement of product structure (high-end).
Now that beer stocks are expected to usher in new opportunities, how should investors participate? Beer consumption is greatly affected by the weather, eating habits and brand effects, so you can choose relevant stocks to consider: first, enterprises with a large coverage of product popularity; second, enterprises in regions with a long duration of high temperature weather; third, beer brand enterprises in regions with a high degree of economic activity in the night market.