Car+consumer dual engine driver, each with the brand 100 index rushes to a thousand points!

When overseas markets are stable, every 100 index of brand 100 rushes thousands of marks!

After the in -depth adjustment of the overseas market in the previous week, the overseas market shock and stabilized this week, and the overall Chinese stocks recovered and performed smoothly. In terms of domestic market, new energy vehicles and large consumption continue to rise, driving each brand 100 index rebound. In the end, the 100th index of the brand rose 2.43%weekly to close at 1004.15 points. The market value of HK $ 179.8 billion) rose by more than 20%in a single week, including Changan Automobile (SZ00065, a stock price of 22.35 yuan, a market value of 170.6 billion yuan), China Resources Land (HK01109, HK $ 35.4, market value of HK $ 252.4 billion). Also exceeded 10%.

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Judging from the target of the tracking index, with the arrival of summer, the brand building of the beer company has brought a significant booster to its valuation.

The momentum is like a rainbow index rushing to the thousand points

Although the Fed's tightening expectations still affect the global market, the market emotions this week are significantly flat, and the overseas stock market has not plummeted. Domestic aspects, under the support of reasonable funds, expand effective investment, support car consumption, home appliances to the countryside, and other consumer policies to implement frequently, which also stimulates that the A -share market has continued to rise. Strong, in the end, each time the brand's 100 index rose 2.43%, it was closed at 1004.15 points.

From the perspective of individual stocks, 60 stocks in ingredients stocks increased, and the proportion of component stocks accounted for 60 %. Among them, Geely Automobile and Changan Automobile in the new energy vehicle track occupied the top two of the weekly increase, of which Geely Automobile Week week The increase was 20.24%, and the performance was eye -catching. The weekly increase of Changan Automobile reached 18.13%. , China Resources Beer (HK00291, HK $ 54.2, market value of HK $ 175.8 billion), and China's overseas development (HK00688, a share price of HK $ 23.15, and a market value of HK $ 253.4 billion), which are all over 10%. In the list of individual stocks, only Jianfa (SH600153, the stock price of 11.76 yuan, a market value of 35.36 billion yuan) and China Petroleum (SH601857, the stock price of 5.34 yuan, a market value of 977.3 billion yuan) declined by more than 5%. Essence

The top ten of each increase of each of the 100 index stocks of the brand (June 20-June 24) (data source: Wan De)

After a weekly rebound, the price -earnings ratio of the 100 index of the brand is 10.5, which is still significantly lower than the 12.54 times price -earnings ratio of the Shanghai Stock Exchange A shares and the 21.28 times price -earnings ratio of the Shenzhen motherboard.

A private equity manager who is unnamed in Shenzhen told the "Daily Economic News" reporter, "Last week we mentioned the concept of big consumption continued to perform this week, especially the Guizhou Moutai Weekly realized Sanlian Yang, and the stock price returned to 2,000 yuan. Guan, liquor has once again become the focus of consumer -themed funds. From the perspective of brand value, in addition to liquor, the beer sector this week also shows colorful. In addition to Qingdao Beer, China Resources Beer has a weekly increase of more than 10%. , Domestic beer brands are also worthy of investors' attention. "

The reporter noticed that there are fewer domestic beer brands in China. The leading company Qingdao Beer (SH600600, stock price of 95.59 yuan, market value of 130.4 billion yuan) and Chongqing Beer (SH600132, stock price 132.9 yuan, market value of 64.32 billion yuan) is close to 5 this week %, China Resources Beer has a large increase in weekly, and after its acquisition of Xili China business, the institution has paid strong attention to the construction of the China Resources brand.

Beer industry enters the stock game

The Chinese beer industry has entered the fast track of national development since the late 1990s. Several leading companies have accelerated the merger and expansion rhythm to achieve horse race. By 2010 For more than 70%, the oligopoly monopoly pattern is initially established. From 2010 to 2015, the industry price war fiercely intensified. Large beer giants compressed the cost of beer to a very low level with a scale advantage, objectively accelerating the clearing of small and medium-sized capacity in the industry, and the market share of leading enterprises has steadily increased.

Due to the fierce competition in the market in the past two decades, through a large number of self -built production capacity or the acquisition of local beer production capacity, it has formed a scale advantage, with a large amount of low -cost beer to capture the advantages of the market share. Therefore, there are a large amount of inefficient production capacity in major wine companies, which reduces the overall capacity utilization rate and profit margin of the industry.

The analysis of Southwest Securities pointed out that the problem of overcapacity in the industry in the industry has gradually solved, but there is still a phenomenon of high -end and canned production capacity. Various wine companies have put in high -end production capacity or optimized and upgraded the old capacity of the old. Elinage for high -end transformation.

At present, the concentration of the Chinese beer CR5 sales end increased to 73.6%in 2020. It is vertically compared with US and Japanese oligopoly companies. In 2020, the US CR5 sales share accounted for 89.4%, and the sales share of Japan's CR4 accounted for 86.2%. Therefore, in the long run, there is still much room for improvement in China to facilitate the industry's leaders. With the stable market structure, the company's horse rating has ushered in a new situation with a significant increase in the contribution of price increase. At the same time, the prices of leading wine companies have grasped the pricing voice right, and the price increase frequency increases the level of terminal conduction to ensure the profitability of the enterprise. Beer product strength goes to brand power

From the perspective of the two major leaders in the domestic beer industry, China Resources has maintained its leader in the leader, and after Tsingtao Beer has introduced Baiwei British Bo, Japan Asahi and Fosun Group, it has gradually followed the relationship, and the brand building has improved steadily.

Look at China Resources Beer first. In addition to the well -known brand of "Snowflake", the company reshapes the creation of "domestic brand+international brand" 4+4 (high -end) product structure to form a full coverage of high -end price segments, which corresponds to the new choice of the full age group customer base. Essence

As far as domestic high-end brands are concerned, the company mainly promotes four products: "Breakthrough SUPER X", "Marce Green", "ingenious creation" and "Facebook". -The 30-year-old young consumer group, the terminal retail price is 8 yuan/13 yuan, respectively, "ingenious creation" and "Facebook" for young and middle-aged consumer groups for aged 30-45 and 45-55 years. At 15 yuan/20 yuan, the company creates a product image by giving product brand stories and feelings to stimulate the consumer desire of consumer groups.

As far as international brands are concerned, Xili has become China Resources Beer to create another international new product growth pole other than snowflakes. In 2021, the company's performance conference mentioned that Xili will occupy 15 of the company's sub -high -end products in 2025 15 %-20%market share. The Xili series launched products such as Xili, Sul, Hongjue, Tiger card. In addition, Xili Group has a wealth of product series. Compared with Parkway, the average price of Xili is higher. Malt concentration and alcohol content are higher than Parkway. The taste and raw materials are better, and the shelf life is long and has strong competitiveness.

Soochow Securities stated that the positioning of China Resources Beer Products covers people from different ages from young to middle -aged, focusing on consumer scenarios, but also corresponding to the product grade from high to low. International brands build the company that is gradually moving from product power to brand power.

Similarly, the brand value of Tsingtao Beer comes from the accumulation of its century -old history. Over the years, the accumulation of honor won in various beer rating competitions, and the reputation of the masses in recent decades. The Tsingtao brand itself has a deep moat, constituting brand monopoly, and it is difficult for competitors to easily impact their brand status in the short term. By 2021, the value of the Qingdao brand was as high as 198.566 billion yuan, and the first place in the beer industry. The total value of the three major brands such as Qingdao, Laoshan, and Hans has exceeded 300 billion yuan.

From the perspective of the overall valuation of the beer industry, each of the two major ingredients of the brand 100 index China Resources Beer and Qingdao Beer, although occupying the leading position of the domestic beer brand, the price -earnings ratio is very low, both below 41 times, significantly lower than the industry average than the industry average. 70 times the price -earnings ratio, the valuation advantage is obvious.

Daily Economic News

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