食品饮料行业：中共中央经济工作会议召开，消费提振成为亮点之一

Investment Rating - The report maintains a "Positive" investment rating for the food and beverage industry, indicating an expectation of performance that exceeds the market benchmark by more than 5% [2][56]. Core Insights - The Central Economic Work Conference held on December 9, 2024, emphasized the importance of boosting consumption and improving investment efficiency, which is expected to benefit the food and beverage sector, particularly cyclical consumer sub-sectors such as liquor, snacks, and condiments [10][17]. - The implementation of policies aimed at expanding domestic demand and stabilizing investment is anticipated to gradually restore consumer confidence and demand in the food and beverage industry, especially in the restaurant sector [11][17]. - The overall valuation of the food and beverage industry is currently below historical averages, suggesting potential for recovery [11][17]. Industry Overview - The food and beverage industry comprises 126 stocks, with a total market capitalization of 49,557.5 billion yuan, reflecting a 5.11% increase [4][5]. - The circulating market capitalization stands at 48,010.93 billion yuan, showing a 6.1% rise [6]. - The average price-to-earnings (P/E) ratio for the industry is 22.21 [7]. Market Performance - In the past week, various sub-sectors within the food and beverage industry experienced the following weekly changes: soft drinks increased by 3.18%, dairy products by 2.10%, and meat products by 2.03%, while other categories like condiments saw a slight decline of 0.04% [12][18]. - Notable performers in the liquor sector included Hainan Coconut Island with an increase of 11.75% and Jiuziyuan with 5.60% [12][24]. Future Events - Key upcoming events include the shareholder meeting of Anjixin Foods scheduled for December 20, 2024 [13]. Company Recommendations - The report continues to recommend cyclical segments within the food and beverage industry, specifically liquor, snacks, and condiments, highlighting companies such as Kweichow Moutai, Haitian Flavoring, and Three Squirrels as potential investment opportunities [11][17].