智通财经APP获悉，啤酒股集体回落，截至发稿，百威亚太(01876)跌5.15%，报7.37港元；华润啤酒(00291)跌3.95%，报26.7港元。而青岛啤酒股份(00168)午后一度转涨。
国信证券指出，消费年末啤酒龙头携轻库存进入淡季，目前行业反馈国庆后需求回归平稳，明年需求是否能有明显回暖还需等待政策进一步发力。展望2025年，啤酒企业对明年总量增长的预期不高；行业可能会继续看到渠道结构微调。
德邦证券则指出，三季报整体业绩受需求弱复苏及天气等影响表现较承压，但全年来看预计主要啤酒企业吨价有望保持稳中有升的态势。随着刺激消费系列政策出台，终端需求有望改善，我们认为餐饮等现饮场景的恢复有望带动啤酒结构升级延续，建议关注相对稳健的优质龙头和改革势能向上标的。
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