Group 1 - The core point of the article is the introduction of a new childcare subsidy policy in China, effective from January 1, 2025, aimed at families with children under three years old [1] - Following the announcement, A-share infant and child concept stocks experienced a significant rise, with 124 out of 150 stocks in this sector closing higher between July 29 and 31, 2023 [1] - Notably, 12 stocks, including Beiyinmei and Sunshine Dairy, saw three consecutive days of closing increases, with Sunshine Dairy hitting the daily limit and its total market value increasing by approximately 1.274 billion yuan [1] Group 2 - Analysts from Xinyi Securities noted that the cash subsidy will enhance disposable income for families, directly benefiting the consumption scale of infant formula [1] - Dongguan Securities analysts indicated that the price of raw milk has been declining, and with steady capacity reduction and ongoing inventory digestion, the oversupply situation of raw milk is expected to improve [1] - The demand side is anticipated to benefit from the childcare subsidy policy, which may enhance population improvement expectations and subsequently increase dairy product demand, optimizing the supply-demand structure in the dairy industry [1]