Investment Rating - The industry rating is "Outperform the Market" [6] Core Views - The food and beverage sector has shown a recovery in valuation but remains at historically low levels as of October 25, 2024 [14] - The overall market performance from October 21 to October 25, 2024, saw the Shanghai and Shenzhen 300 index increase by approximately 0.8%, while the food and beverage sector rose by about 2.2% [11] Market Review - From October 21 to October 25, the Shanghai and Shenzhen 300 index had a trading volume of approximately 22,648.3 billion, with the food and beverage sector's trading volume around 1,816.5 billion [11] - The food and beverage sub-industry rankings placed it at 21st among primary sub-industries [11] Industry High-Frequency Data Tracking - Retail sales in September showed a year-on-year increase of 3.2%, with urban retail sales up 3.1% and rural retail sales up 3.9% [17] - The Citigroup China Economic Surprise Index rose to -8.1 on October 24, a significant increase of 21.9 from the previous week [19] - In September, China's liquor production reached 363,000 kiloliters, a year-on-year decrease of 9.9% [21] - The average price of fresh milk in major production areas was 3.13 yuan per kilogram as of October 17, remaining stable compared to the previous week [23] - In October, beef prices decreased by 13.3% year-on-year, while pork prices increased by 16.3% [25] - Beer production in September was 2,904,000 kiloliters, showing a year-on-year increase of 1.4% [28] Industry News and Company Announcements - Kweichow Moutai Group's executive Wang Li conducted market research in Beijing, focusing on the promotion of Moutai's sauce-flavored liquor and supermarket operations [31] - Guizhou Province reported a 10.1% increase in the value added of the liquor, beverage, and refined tea manufacturing industry for the first three quarters of the year [32] - Yonghui Supermarket's first store in Beijing underwent a comprehensive upgrade, resulting in a significant increase in customer traffic and revenue [33] - Jialong Co., Ltd. reported a net profit of 15.898 million yuan for the first three quarters of 2024, a turnaround from a loss of 28.141 million yuan in the same period last year [34] - Anji Food reported a net profit of 21.309 million yuan for the first three quarters of 2024, a decrease of 25.35% year-on-year [34] - Yuanzu Co., Ltd. reported a net profit of 253 million yuan for the first three quarters of 2024, a decrease of 15.99% year-on-year [35]
食品饮料行业周报（2024年第44周）
Mai Gao Zheng Quan·2024-11-01 00:42