智通财经APP获悉，啤酒股今日回暖，截至发稿，青岛啤酒股份(00168)涨3.92%，报50.35港元；华润啤酒(00291)涨1.95%，报26.2港元；百威亚太(01876)涨1.36%，报7.45港元。
海通国际指出，根据国家统计局数据，今年三季度，我国规模以上企业累计啤酒产量同比下降4.4%，环比下降3.2%。结合各上市公司三季报，推测24Q3单季度行业销量同比增速延续了二季度中单位数下滑的趋势，而吨价提升则显著放缓。四季度是啤酒销售淡季，以消化库存为主，全年业绩预期基本落地。
该行指出，展望明年，今年9月政治局会议召开以来，宏观政策组合拳相继推出，随着后续促消费、扩内需等政策逐渐发力，国内消费可能迎来加速复苏，尤其是受益于餐饮景气度的回暖，啤酒高端化将迎来新的发展阶段。行业估值处于历史低谷，从长期配置的角度来看已经具备一定安全边际。且国内主要啤酒厂商均进入资本开支末期，稳定的现金流为进一步提高分红奠定了基础。
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