中信证券：基本面触底在即，关注乳品及餐供板块

Group 1 - The core viewpoint is that by 2026, the demand for consumer goods is expected to gradually bottom out and recover, with a narrowing of price declines, although the upward recovery potential may be limited [1] - Industry competition and the weakening of raw material cost advantages may lead to uncertainty in profitability trends for certain sectors [1] - The year 2026 is seen as a phase where the fundamentals of consumer goods reach a bottom, representing a left-side investment opportunity [1] Group 2 - Investment recommendations are made from three dimensions: the first is the bottoming out of fundamentals and valuations, the second is the growth and prosperity dimension, and the third is the high dividend dimension [1]