食品行业周报：9月社会消费品零售总额同比+3.2%

Investment Rating - The report recommends investing in high-end liquor brands such as Guizhou Moutai, Wuliangye, and Luzhou Laojiao, as well as mid-range liquor brands with strong growth potential like Shanxi Fenjiu and Yingjia Gongjiu [5][13]. Core Viewpoints - The food and beverage sector has shown a decline, with the food and beverage index dropping by 3.18% from October 14 to October 18, ranking last among 28 sub-industries [4][6]. - The report highlights the resilience of high-end liquor demand and the potential for steady growth in the industry, with expectations for a robust market in 2024 [5][13]. - The report indicates that the retail sales of consumer goods in September 2024 reached 41,112 billion yuan, reflecting a year-on-year increase of 3.2% [17]. Summary by Sections Market Performance - From October 14 to October 18, the overall market index increased by 0.91%, while the food and beverage index decreased by 3.18% [4][6]. - The top-performing sectors included snacks (+3.37%), other alcoholic beverages (+0.73%), and meat products (-0.09%) [4][6]. Company Announcements - Jialong Co. expects a net profit of 15-17 million yuan for Q1-Q3 2024, a significant recovery from a loss of 28.14 million yuan in the same period last year [15]. - Zhongjing Food reported a 14.21% year-on-year revenue growth to 839 million yuan for Q1-Q3 2024, with a net profit increase of 6.57% to 149 million yuan [15]. Industry News - In the beer sector, China's beer imports in September 2024 increased by 24.5% year-on-year, while the cumulative import volume from January to September decreased by 13.4% [16]. - The retail sales of the catering industry reached 4,417 billion yuan in September 2024, marking a year-on-year increase of 3.1% [17]. Cost Data Tracking - The cost index for key sectors showed a decrease in various raw materials, with the cost index for condiments down by 3.67% month-on-month and 15.36% year-on-year [45][60]. - The average price of fresh milk was reported at 3.13 yuan per kilogram, reflecting a month-on-month decrease of 0.32% but a year-on-year increase of 16.09% [36][47].