食品饮料行业周报：政策积极，国内需求复苏预期提升

Investment Rating - The report maintains an investment rating of "Recommended" for the food and beverage industry [1][21]. Core Insights - The report highlights a positive policy environment and an increasing expectation for domestic demand recovery, leading to a valuation recovery in the sector. The food and beverage sector outperformed the Shanghai Composite Index by 1.61 percentage points during the week of November 4 to November 8, with a sector increase of 7.12% compared to the index's 5.51% [1][21]. - The report suggests that the pressure from the third-quarter reports has been released, indicating that the sector has passed its fundamental bottom phase. With strong "consumption promotion" policies, the demand side is expected to gradually improve [1][21]. Summary by Sections 1. Weekly Market Trends - From November 4 to November 8, the food and beverage index rose by 7.12%, ranking 10th among all sectors. Other sub-sectors such as other alcoholic beverages, snacks, and pre-processed foods saw increases of 12.59%, 12.16%, and 12.03%, respectively [9][21]. 2. Price Fluctuations - The report notes fluctuations in the prices of key products, including a slight increase in the price of Feitian Moutai and stable prices for Wuliangye and Guojiao 1573 during the same period [13][19]. 3. Industry News - Key announcements include Guizhou Moutai's plan to distribute a cash dividend of 23.882 yuan per share, amounting to a total of 30 billion yuan for shareholders [22][24]. 4. Key Listed Company Announcements - The report emphasizes the importance of companies like Kweichow Moutai, Wuliangye, and Yili, highlighting their strategies for improving shareholder returns and expanding market presence [22][23]. 5. Weekly Insights - The report concludes that the current low valuation levels in the sector, combined with a favorable policy backdrop, suggest a positive outlook for future performance, particularly as consumer demand is expected to recover [21][24].