食品饮料行业周报：外围靴子终落地，茅台发布中期分红

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry [6]. Core Viewpoints - The current recommendation order for sub-sectors is: Baijiu > Beer > Snack Foods = Soft Drinks > Frozen Foods > Condiments > Dairy Products [3]. - The Baijiu sector has seen an overall increase this week, driven by market optimism regarding domestic consumption recovery and favorable fiscal policy expectations [4]. - The report highlights that the Chinese beer market is projected to reach a scale of 634.9 billion yuan [2][13]. - Guizhou province has announced a 350 million yuan liquor project [2][13]. - Moutai has proposed a mid-term dividend plan totaling 30 billion yuan, enhancing shareholder returns [4][20]. Summary by Sections Industry News - The Chinese beer market is expected to reach 634.9 billion yuan [2][13]. - Guizhou has released a liquor project worth 350 million yuan [2][13]. Company News - Moutai has announced updates on its 30,000-ton series liquor technology transformation [14]. - Shanxi Fenjiu is set to develop four products each worth over 10 billion yuan [14]. Weekly Performance - The Baijiu sector's performance is positively influenced by expectations of domestic consumption recovery and supportive fiscal policies [4]. - The report notes a significant reduction in hidden debt pressure for local governments, which is expected to enhance consumer confidence and spending [4]. Key Company Recommendations - The report recommends focusing on undervalued Baijiu stocks with strong earnings certainty, specifically Moutai, Wuliangye, Luzhou Laojiao, and Shanxi Fenjiu [4][6].