news flash·2025-06-25 23:34Group 1 - The core viewpoint is that Huatai Securities analyzes the consumer goods sector's industry trends, highlights, and investment themes, maintaining a positive outlook on the transformation of China's economic growth engine towards consumption [1] - In the context of global trade frictions and international disturbances, the consumer sector, driven by domestic demand, exhibits notable defensiveness and certainty, particularly by 2025 [1] - Since 2024, a series of consumption-promoting policies have been introduced, leading to a U-shaped recovery in retail sales growth and consumer confidence index, with expectations for continued policy support in the second half of the year [1] Group 2 - On a micro level, most food and beverage companies have completed channel inventory destocking and are driving revenue and profit growth through category expansion, channel innovation, and efficiency improvements [1] - Huatai Securities believes that there are both value reassessment opportunities for leading companies in the consumer goods sector and structural growth prospects [1]