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haitong sec: baijiu companies jointly cope with slowing down, beer volume and price are under pressure, waiting quietly for a recovery.
baijiu actively slows down to relieve pressure due to weak demand, exacerbating differentiation and highlighting the Matthew effect; beer Q3 demand is weak, leading to pressure on volume and price in the peak season, with cost benefits continuing to support profitability.
Express News | Zheshang Securities: Liquor companies actively control speed and focus on leading symbols.
Express News | Luzhou Laojiao hit the daily limit today on the Dragon and Tiger List. Three institutions collectively sold a net of 0.205 billion yuan.
Research Reports Prospecting丨tianfeng Securities: Maintaining a "buy" rating on luzhou laojiao, expecting future performance to enter a benign growth channel.
Gelonghui November 7th | Tianfeng Securities research report pointed out that Luzhou Laojiao (000568.SZ) 24Q3 performed relatively well in the mid-to-high-end price range, with stable profitability, year-on-year improvement in cash flow, quarter-on-quarter increase in pre-receipts, and actively reducing burden on the payment side. Based on maintaining channel health, the company actively lightens the burden for the channels and prioritizes stable prices, reflecting the company's focus on long-term healthy development. The bank expects that the company will continue to reduce burden in 24Q4, preparing for the company's vigorous efforts in 2025. Based on the company's philosophy of healthy long-term development, actively promoting sales and solving channel issues, it is expected that the subsequent performance will enter a benign growth channel. Maintaining a "buy" recommendation.
luzhou laojiao (000568): Q3 24 actively reducing debt, profit performance stable.
In Q3 2024, the company's revenue/net income attributable to the parent company/non-recurring net income were 7.399/3.566/3.57 billion yuan (+0.67%/+2.58%/+3.52% year-on-year), (revenue+
Founder Securities: Proactively controlling speed to release pressure, Q3 baijiu report shows intensified differentiation.
The baijiu sector reported a slowdown in Q2, with off-season liquor companies shifting their focus to maintaining the industry price system, controlling inventory to support prices and maintaining healthy circulation channels. It is expected that the Q3 and Q4 financial reports will continue the trend of risk release.
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