啤酒行业研究报告(pdf 44页)(英文版)
所属分类:行业报告
文件大小:814 KB
下载要求:10 学币或VIP
点击下载Investment Summary 3
Branding War Breaks Out in China 4
One of China’s most attractive investment stories...................... 4
Slowly, the beer war is shifting from regional to national ..........6
Why go national? The Coors story in the US ............................7
The time is right for national brand building in China.................. 9
Only three brands are going multiregional................................10
Leaders have emerged and the likely winners are..........................13
Stock implications: pick the long-term winners............................16
Company Coverage 21
Harbin Brewery............................................................22
Tsingtao Brewery...........................................................33
An old saw in the brewery sector is that the beer market is as fluid
as the product. We believe the transformation of the beer industry
in China is reminiscent of the situation in the US in the 1960s to
1980s and the end game is shifting from capacity and distribution
to branding. Industry dynamics are improving with several market
leaders emerging as clear winners.
The marathon is nearing its end: we know the winners
We believe the beer segment has some of the best industry dynamics in China’s
consumer sector. Demand growth should be sustained by rising domestic, and
particularly rural, consumption. Selling prices are rebounding. In the richest 15
cities and provinces, the top three beer brands account for 68% market share.
Supply consolidation is nearly complete, the window for new entrants is almost
closed and frontrunners have clearly emerged. We believe that for several of the
leading brewers the stock market is still not fully discounting the sustainability
of their business franchise.
精品资料网 m.cnshu.cn
Copyright © 2004- 粤ICP备10098620号-1
风险管理 应急预案 研发管理 运营管理 内部管理 商业模式 执行力 连锁经营 公司治理 工厂管理 创新管理 家族企业 效率管理 名企案例 企业理念 价值管理 特许经营 瓶颈管理 调查问卷 策划方案 领导力 团队建设 企业变革 企业文化 战略管理 竞争策略 管理知识 危机管理 成本管理 项目管理 发展战略 年度计划 决策管理 企业上市 供应商 组织设计 产品管理 采购管理 品牌管理 企业诊断 企业咨询 商务谈判 物流管理 运作管理 管理制度 行业报告 经营管理 企划方案 MBA 流程管理 目标管理 招标投标 商务礼仪 管理表格 管理技能 管理案例 管理工具 管理手册 职业经理人 商业计划书 董事与股东 可行性报告