20230417_华安证券_食品饮料行业证券研究报告：春糖勤思关注复苏节奏创造出的投资机会_19页.pdf

Xi Table_IndNameRptType 行业研 究/行 业周 报 Table_IndRank 2023-04-17 Table_Chart 300 Table_Author S0010522100001 S0010522080001 S0010522070004 Table_Report 1.2023-04-04 2.2023-04-03 3.2022 2023-03-28 Table_Summary 5.2%28 5.51 300 4.44-2.43%-2.75%-2.89%-3.48%-3.83%-4.03%-5.69%-6.31%-7.57%300 Pettm 12.18 Pettm 36.75 Pettm 33.55 22Q4 1 B 2 K 3 2022 22 23 4 2022 2023 22 23Q1 5 2023 Q1 Q1 4-31%-20%-9%2%13%24%4/22 7/22 10/22 1/23食品饮料 沪深300 Table_CompanyRptType 敬请参阅末页重要声明及评级说明 2/18 证券研究报告 2840 3060/965/1573 905/4 7 39.4 14.59 20.85/62.47%17.38%6.92%-0.83%-1.68%-1.28%4 7 3.94/5.5%0.3%1ZDWzQtOoNrQsMnOrMsNqRbRdN9PoMpPnPsRfQnNmQeRnPqQaQmNsOuOmRzRuOnNqQTable_CompanyRptType 敬请参阅末页重要声明及评级说明 3/18 证券研究报告 1.5 2.6 2.1.6 2.2.8 3.9 4.9 5.13 6.14 6.1 3.14 6.2 3 1.1%.15 6.3().15 6.4 2023 10 12.15 6.5 2023“&”.15 6.6 95.15 6.7.15 6.8 2023.15 6.9“”.16 6.10“”+.16 7.16 7.1/.16.17 Table_CompanyRptType 4/18 1%.6 2%.7 3 PE.8 4 PE TTM.8 5.9 6.9 7.9 8/.10 9/.10 10/.11 11 1573/.11 12.11 13/.11 14/.11 15/.11 16/.12 17/.12 18.12 19.12 20/.12 21/%.12 22.13 23/%.13 24/.13 25/.13 26/.13 27/.13 28.13 29.16 30.17 31.17 Table_CompanyRptType 5/18 1 1 3+/C B C C 22Q4 Q2+Q3 4.14/23 29x/22x/27x/23 29x/28x/23 22x/24x/23 20 x 2 4 40%+5 60%25%905 5 5-9 21/22 Table_CompanyRptType 6/18/40%1-2 22Q4&23Q1 1573 800 500 25 50%0 30-40 3 22 23 KA O2O CVS KA-1 2 3 2 2.1 5.2%28 5.51 300 4.44-2.43%-2.75%-2.89%-3.48%-3.83%-4.03%-5.69%-6.31%-7.57%1%Table_CompanyRptType 7/18 300 Pettm 12.18 Pettm 36.75 Pettm 33.55 PE 32.43 40.60%PE 45.64 50.90%PE 46.47 28.20%PE 25.32 7.30%PE 16.9 2.90%PE 36.48 5.10%PE 28.17 78.00%PE 33.27 86.00%PE 37.28 60.40%PE 36.15 65.90%PE 77.32 77.60%资料来源：wind，华安证券研究所 2%资料来源：wind，华安证券研究所-6%-4%-2%0%2%4%6%有色金属建筑装饰传媒公用事业钢铁银行医药生物电气设备机械设备休闲服务房地产交通运输非银金融家用电器煤炭纺织服装化工建筑材料汽车商业贸易电子综合国防军工通信轻工制造农林牧渔计算机食品饮料-2.00%-2.43%-2.75%-2.89%-3.48%-3.83%-4.03%-5.69%-6.31%-7.57%-8%-7%-6%-5%-4%-3%-2%-1%0%肉制品软饮料其他酒类保健品调味发酵 品零食乳品白酒啤酒烘焙食品 Table_CompanyRptType 8/18 2.2 11.43%10.66%*ST 5.85%-35.32%-12.67%-12.6%3 PE 资料来源：wind，华安证券研究所 4 PE TTM 资料来源：wind，华安证券研究所 010203040506070802018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-102023-012023-04沪深300 白酒 非 白酒0%10%20%30%40%50%60%70%80%90%100%020406080100120140160(Table_CompanyRptType 9/18 5 6 wind wind 3 1 B 2 K 3 2022 22 23 4 2022 2023 22 23Q1 5 2023 Q1 Q1 4 4 7 2840 3060/965/1573 905/0%2%4%6%8%10%12%仲景食品好想你*ST 皇台欢乐家天润乳业中葡股份金达威宝立食品佳禾食品李子园-40%-35%-30%-25%-20%-15%-10%-5%0%迎驾贡酒金种子酒一鸣食品今世缘麦趣尔桃李面包重庆啤酒顺鑫农业口子窖天味食品 Table_CompanyRptType 10/18 2023 2 17880 8.4%21.09%;32782/12.81%0.83%4 10 2849/-9.4%-4.4%4 10 2708/-1%-1.7%4 10 5192/-5.9%0.7%4 14 6740/13.9%0.6%4 7 39.4 14.59 20.85/62.47%17.38%6.92%-0.83%-1.68%-1.28%2 2260 44.13%-21.99%2 160000 23.08%-27.27%4 14 18.4/0.3%0.4%4 7 3.94/5.5%0.3%2 110000 6.83/4 10 1830/10.5%1.7%4 10 18608/16.4%1.4%4 10 2820/25.7%0.7%4 14 7710/42.8%1.2%wind 8/9/wind wind 600110016002100260031003600飞 天批 价：散 瓶1500200025003000350040004500飞 天批 价：整 箱 Table_CompanyRptType 11/18 10/11 1573/wind wind 12 13/wind wind 14/15/wind wind 60065070075080085090095010001050八 代普五 批价600650700750800850900950国窖1573 批价010000200003000040000500006000001000020000300004000050000600007000080000900001000002018-06 2019-06 2020-06 2021-06 2022-06进口葡萄酒数量（千升）进口葡萄酒平均单价（元/千升；右轴）200022002400260028003000320034002018-05 2019-05 2020-05 2021-05 2022-05生 产资 料 价格:小麦(国 标三等)1500170019002100230025002700290031002018-05 2019-05 2020-05 2021-05 2022-05生 产资 料 价格:玉米(国 标三等)300035004000450050005500600065002018-05 2019-05 2020-05 2021-05 2022-05生 产资 料 价格:黄豆(国 标三等)Table_CompanyRptType 12/18 16/17/wind wind 18 19 wind wind 20/21/%wind wind 0100020003000400050006000700080002020-04 2020-10 2021-04 2021-10 2022-04 2022-10 2023-04现 货价 格：白 砂 糖0204060801001201401602018-05 2019-05 2020-05 2021-05 2022-0522 个省市:平均价格:仔猪 22 个省市:平均价格:生猪22 个省市:平均价格:猪肉-60%-40%-20%0%20%40%60%80%100%120%05001000150020002500300035002018-05 2019-05 2020-05 2021-05 2022-05全国:生猪定点屠宰企业屠宰量 同比-100%-50%0%50%100%150%200%250%0500001000001500002000002500003000003500004000004500005000002018-05 2019-05 2020-05 2021-05 2022-05猪肉:进口数量:当月值 进口同比131415161718192021222018-06 2019-06 2020-06 2021-06 2022-06平 均批 发 价:白条鸡-10-505101520253.23.43.63.844.24.44.62018-01 2019-01 2020-01 2021-01 2022-01 2023-01平均价:生鲜乳(原奶):主产区 平均价:生鲜乳(原奶):主产区:同比 Table_CompanyRptType 13/18 22 23/%wind wind 24/25/wind wind 26/27/wind wind 5 28 500001000001500002000002500003000003500002018-01 2019-01 2020-01 2021-01 2022-01 2023-01奶粉:进口数量:当月值3456789102018-01 2019-01 2020-01 2021-01 2022-01 2023-01进口奶粉单价1000150020002500300035002018-05 2019-05 2020-05 2021-05 2022-05浮 法玻 璃 价格80001000012000140001600018000200002200024000260002018-05 2019-05 2020-05 2021-05 2022-05铝 锭价 格3000350040004500500055002018-05 2019-05 2020-05 2021-05 2022-05瓦 楞纸 价 格0200040006000800010000120001400016000180002020-04 2020-10 2021-04 2021-10 2022-04 2022-10 2023-04棕 榈油 现 货价 Table_CompanyRptType 14/18 2023/04/12 2022 11 10 4,703,999 1.99%112,176,435 47.69%2023/04/12 A 2023/04/12 2022 39.19 0.86%4.29 14.28%0.63 10 4.5 43 2023/04/12 2022 16.2 2.75%;2.02 0.7%;1.82 0.22%;0.22 10 0.8()2023/04/13 2023 6,200 6,600 7076.76%7539.77%2023 2023/04/13 2023 14.76 1.66%1.39 12.15%0.1041 12.15%192 2023/04/13 2023 12,800 13,800 43.71%54.94%2023/04/13 2023 4 20 15:00-17:00 2022 2023/04/14 2022 2.66 13.63%2924.42 1589.32 36.63%0.1574 2023/04/14 53,817,034 3%2023/04/14 2023 4 25 15:00-16:30 wind 6 6.1 3 4 8 2-3 100:Table_CompanyRptType 15/18 2-3 100:3-5 100 6.2 3 1.1%4 11 3 0.7%0.3%1.1%0.4%:2.1%0.9%6.3()4 8().6.4 2023 10 12 4 13 109 109 10 12-14 6.5 2023&4 13 2023&2023 10 8-11 6.6 95 4 12 6 95 6.7 4 15-4 16 DIY 6.8 2023 4 13 2023:;Table_CompanyRptType 16/18 6.9 4 13 2022 53()30 6.10+108:?7 7.1/29 2023-04-18 C09(300)2023-04-18 1 1 14 2023-04-21()2023-04-21 2023-04-24 2000 2023-04-26 777()5 2023-04-28 66 2023-05-05 217 517 2023-05-05 A 32,2023-05-05 71 31 2023-05-05 208 3 5 2023-05-08 219 22 Table_CompanyRptType 17/18 2023-05-09 808 2 A 2023-05-09 1999 2023-05-10 785 4 2023-05-16 wind 30 2023-04-24 32.68%wind 31 2023-03-03 52,000.00 2023-01-07 65,448.00 2023-03-03 105,000.00 2023-03-07 45,000.00 2023-03-24 59,000.00 wind Table_Introduction 6 1 1 Table_CompanyRptType 18/18 Table_Reputation Table_RankIntroduction 6 A 300 500 6 5%;6-5%5%;6 5%;6-12 15%6-12 5%15%6-12-5%5%6-12 5%15%6-12 15%前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告