食品饮料行业周报：节后市场信心继续恢复，看好板块估值继续修复

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry [5][47]. Core Insights - The market confidence continues to recover post-holiday, with expectations for valuation recovery in the sector [5]. - The report highlights a positive sentiment driven by multiple favorable policies, leading to a rebound in market emotions and capital flow [5][47]. - The white liquor sector is experiencing significant growth, with Moutai's sales performance during the National Day holiday surpassing that of the Mid-Autumn Festival, indicating a supply-demand imbalance in some regions [5][47]. Summary by Sections Industry News - Shaoxing's regulated yellow wine revenue increased by 9.4% [5]. - Shandong has 1,402 craft beer-related enterprises, the highest in the country [5]. Company News - Guizhou Moutai launched the third product in its autumn series [5]. - Wuliangye's "Five Grains Ron" is now available in over 700 bars globally [5]. - Qingdao Beer received a significant investment from JPMorgan, amounting to HKD 242 million [5]. Investment Strategy - The report maintains the previous sub-sector recommendation order: Baijiu > Beer > Snack Foods = Soft Drinks > Frozen Foods > Condiments > Dairy Products [5][47]. - The white liquor sector is expected to continue its upward trend, supported by favorable policies and market sentiment [5][47]. - The report emphasizes the importance of leading companies in various sub-sectors, such as Hai Tian Flavoring, Anjijia Foods, and Qingdao Beer, among others [5][47].