营收普遍承压！暑假旺季不旺，啤酒“卖不动”？

财华社08-30

8月30日，港A两市的啤酒股集体活跃。其中，青岛啤酒股份（00168.HK）领涨板块，涨幅为3.08%；华润啤酒（00291.HK）也上涨了2.75%，香港生力啤（00236.HK）涨1.12%。在A股市场，相关概念股同步上扬。重庆啤酒（600132.SH）上涨2.37%，青岛啤酒（600600.SH）涨2.68%，燕京啤酒（000729.SZ）、惠泉啤酒（600573.SH）等跟涨。消息面上，...

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The peak season of summer vacation is not prosperous, and beer \"can't be sold\"?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80291":0.6,"00236":1,"00291":1,"00168":1,"CRHKY":0.6},"content_text":"8月30日，港A两市的啤酒股集体活跃。其中，青岛啤酒股份（00168.HK）领涨板块，涨幅为3.08%；华润啤酒（00291.HK）也上涨了2.75%，香港生力啤（00236.HK）涨1.12%。在A股市场，相关概念股同步上扬。重庆啤酒（600132.SH）上涨2.37%，青岛啤酒（600600.SH）涨2.68%，燕京啤酒（000729.SZ）、惠泉啤酒（600573.SH）等跟涨。消息面上，近期，多家啤酒企业中期业绩报告出炉。整体来看，尽管上半年啤酒公司的收入增速普遍放缓或出现下滑，但在盈利端，其利润均实现稳定增长，展现出较强的韧性。以青岛啤酒为例，8月29日，该公司公布的半年报显示，实现营收200.68亿元，同比下降7.06%，但归母净利润同比增长了6.31%，至36.42亿元。单季度看，第二季度，青岛啤酒实现营收99.18 亿，同比下降8.89%；归母净利润20.44 亿，增长3.55%。对于营收减少的原因，青岛啤酒解释称，主要受销量不佳影响。今年上半年，国内啤酒市场消费复苏乏力，啤酒行业规模以上企业共实现产量1908.8万千升，同比微增0.1%。啤酒产销量相近，今年上半年，啤酒行业销量规模增长也很有限。跟行业同频，青岛啤酒销量下滑，尤其是在第二季度，受雨水天气影响，叠加餐饮、夜场等消费场景疲软，及去年同期销量基数较高，青岛啤酒承压明显。不过，尽管营收下滑，但青岛啤酒还是实现了利润增长，这主要归功于产品结构的优化。近几年来，在啤酒行业存量竞争大背景下，高端化已成为所有啤酒品牌的共识。上半年，青岛啤酒主品牌共实现产品销量261万千升。其中，中高端以上产品实现销量189.6万千升，占比提升至72.64%，有效带动公司千升酒营业收入同比增长1%。另一方面，面对景气度不高的市场形势，青岛啤酒多措并举，降本控费，进一步缓解了成本端压力。财报显示，今年上半年，青岛啤酒的营业成本和销售费用都有所下降。其中，营业成本117.19亿元，同比减少10.72%，主要受大麦及包材等成本回落影响。销售费用21.69亿元，同比减少9.16%，受销量影响，以及部分区域业务宣传费减少所致。也就是说，青岛啤酒上半年营收减少但利润增长，一定程度上也是靠省出来的。降本增效仍是行业的主旋律。无独有偶，另一啤酒巨头——华润啤酒（00291.HK）也出现了“增利不增收”的情况。上半年，该公司收入237.44亿元，同比微降0.53%；归母净利润47.05亿元，同比增长1.2%。此外，受益成本和渠道拓展优势，高端化转型后的区域型啤酒企业，其利润增速更为亮眼。如，燕京啤酒（000729.SZ）上半年收入同比增长5.52%；归母净利润7.58亿元，同比大增47.54%；同期，珠江啤酒（002461.SZ）收入同比增长7.69%，归母净利润同比增长36.52%；惠泉啤酒（600573.SH）收入同比0.33%，归母净利润同比增长41.56%。综上所述，上半年，在整体消费疲软的大环境下，尽管啤酒行业销量承压，但各家公司通过产品结构优化、成本控制及市场拓展等策略，依然实现了盈利能力的稳步提升。下半年，进入暑期啤酒的消费旺季，消费量通常会有所回升。不过，从7月份的销售数据来看，啤酒消费似乎并没有明显回暖。截至7月，我国规模以上啤酒企业累计产量达到2267.4万千升，同比下滑了1.6%。对此，有业界人士表示，啤酒消费旺季不旺，啤酒企业三季度的销售表现或依旧不容乐观。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2463952736"}