食品饮料行业报告（2024.10.7-2024.10.11）：回调不改信心，东鹏业绩大超预期助力细分板块上涨

Industry Investment Rating - The report does not explicitly state an investment rating for the food and beverage industry [4]. Core Insights - The report highlights a positive outlook for the food and beverage sector, driven by recent government policies aimed at economic recovery and support for local governments [11]. - The performance of the liquor segment, particularly high-end products, is expected to stabilize, while the overall market is anticipated to improve as consumer confidence rises [12]. - The soft drink sector, led by Eastroc Beverage, is projected to continue its strong growth trajectory, supported by effective marketing and product expansion strategies [17]. Summary by Sections 1. Economic Policy and Market Outlook - The government has introduced targeted fiscal policies to enhance economic growth, including support for local debt resolution and special bonds for state-owned banks [11]. - These measures are expected to improve the economic fundamentals, which will positively impact the food and beverage industry. 2. Beverage Sector Performance - The liquor market is experiencing varied performance, with high-end products maintaining stable demand during the recent holiday seasons, while mid-range products face challenges [12]. - Specific forecasts for major liquor companies indicate a slight slowdown in revenue growth for some, with Guizhou Moutai expected to see a 15% increase in revenue for Q3 [13][14]. 3. Soft Drink and Snack Segment Insights - The soft drink sector, particularly Eastroc Beverage, is expected to report significant growth, with strong sales driven by effective marketing strategies and favorable cost conditions [17]. - The snack food industry is entering a peak season, with companies like Jin Zai Food and Salted Fish Shop showing robust sales growth [16][19]. 4. Weekly Market Performance - The food and beverage sector index experienced a decline of 7.47% this week, underperforming compared to the broader market [20]. - Among the sub-sectors, soft drinks showed a slight increase, while other segments like snacks and condiments faced declines [20]. 5. Company-Specific Announcements - Companies such as Wuliangye and Eastroc Beverage have made significant announcements regarding management changes and operational strategies to enhance efficiency and market presence [27][31].