研报掘金丨华泰证券：予安井食品“买入”评级，目标价为113.04元

格隆汇资讯2025-12-08

华泰证券研报指出，25Q3已经有部分必选消费公司呈现了报表的加速出清和基本面的触底改善，Q4以来部分可选消费子行业先于必选消费复苏，必选消费中速冻品类现收入改善迹象，行业价格战有所缓和，为主要企业的盈利修复创造有利条件。安井食品作为速冻食品行业的龙头企业，正通过产品创新与结构调整驱动增长，拥抱大B商超定制等策略卓有成效，后续经营有望持续改善。展望未来，公司增长抓手明确：多元化的核心为拥抱O2O...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2589519673?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-12-08 15:29","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2589519673","market":"hk","top_or_hot":-1,"title":"研报掘金丨华泰证券：予安井食品“买入”评级，目标价为113.04元","media":"格隆汇资讯","content":"<div>\n<p>华泰证券研报指出，25Q3已经有部分必选消费公司呈现了报表的加速出清和基本面的触底改善，Q4以来部分可选消费子行业先于必选消费复苏，必选消费中速冻品类现收入改善迹象，行业价格战有所缓和，为主要企业的盈利修复创造有利条件。安井食品作为速冻食品行业的龙头企业，正通过产品创新与结构调整驱动增长，拥抱大B商超定制等策略卓有成效，后续经营有望持续改善。展望未来，公司增长抓手明确：多元化的核心为拥抱O2O...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251208152955a43ad5bb&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>研报掘金丨华泰证券：予安井食品“买入”评级，目标价为113.04元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n研报掘金丨华泰证券：予安井食品“买入”评级，目标价为113.04元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-08 15:29 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251208152955a43ad5bb&s=b><strong>格隆汇资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>华泰证券研报指出，25Q3已经有部分必选消费公司呈现了报表的加速出清和基本面的触底改善，Q4以来部分可选消费子行业先于必选消费复苏，必选消费中速冻品类现收入改善迹象，行业价格战有所缓和，为主要企业的盈利修复创造有利条件。安井食品作为速冻食品行业的龙头企业，正通过产品创新与结构调整驱动增长，拥抱大B商超定制等策略卓有成效，后续经营有望持续改善。展望未来，公司增长抓手明确：多元化的核心为拥抱O2O即时...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251208152955a43ad5bb&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06886","symbol_name":"HTSC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251208152955a43ad5bb&s=b","article_id":"2589519673","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251208152955a43ad5bb&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2589519673","pubTimestamp":1765178987,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"华泰证券研报指出，25Q3已经有部分必选消费公司呈现了报表的加速出清和基本面的触底改善，Q4以来部分可选消费子行业先于必选消费复苏，必选消费中速冻品类现收入改善迹象，行业价格战有所缓和，为主要企业的盈利修复创造有利条件。安井食品作为速冻食品行业的龙头企业，正通过产品创新与结构调整驱动增长，拥抱大B商超定制等策略卓有成效，后续经营有望持续改善。给予“买入”评级，对应目标价为113.04元。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"06886":"HTSC","02648":"安井食品"},"translate_title":"Research Report Nuggets | Huatai Securities: Give Anjing Foods a \"buy\" rating, with a target price of 113.04 yuan","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02648":1.5,"06886":1.5},"content_text":"华泰证券研报指出，25Q3已经有部分必选消费公司呈现了报表的加速出清和基本面的触底改善，Q4以来部分可选消费子行业先于必选消费复苏，必选消费中速冻品类现收入改善迹象，行业价格战有所缓和，为主要企业的盈利修复创造有利条件。安井食品作为速冻食品行业的龙头企业，正通过产品创新与结构调整驱动增长，拥抱大B商超定制等策略卓有成效，后续经营有望持续改善。展望未来，公司增长抓手明确：多元化的核心为拥抱O2O即时零售、会员制商超、零食量贩店等新渠道，通过定制化&差异化产品、挖掘增量空间；全球化则以饮食文化相近、空间广阔、格局分散的东南亚市场为先，公司正逐步扩大海外收入，打开更广阔的成长天花板。给予“买入”评级，对应目标价为113.04元（前值101.64元，对应26 年22x PE）。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.13","shortVersion":"4.35.13","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2589519673","isCrawlerRequest":true}