食品饮料行业周报：贵州茅台明确战略方向，青岛啤酒有望再续新篇

Investment Rating - The industry investment rating is "Positive" (Maintain) [39] Core Insights - The Moutai dealer conference released positive signals, and the election of the chairman of Qingdao Beer is expected to lead to new developments [20][19] - The food and beverage index fell by 0.2% from December 23 to December 27, ranking 10th among 28 first-level sub-industries, underperforming the CSI 300 by approximately 1.6 percentage points [44][45] - The dairy, beer, and snack sectors showed relatively strong performance, with increases of 1.7%, 1.2%, and 0.8% respectively [44][45] - Moutai's conference highlighted issues of "supply-demand mismatch" and proposed strategies for customer engagement and product adjustments for 2025 [44][19] - Qingdao Beer announced the election of Jiang Zongxiang as chairman and president, which is expected to positively impact the company's development [27][19] Summary by Sections Weekly Insights - The Moutai dealer conference provided positive signals regarding product adjustments and channel transformations, addressing current challenges in the white liquor industry [44] - The company plans to increase the domestic market supply of 500ml Flying Moutai slightly while adjusting the supply of other products [44][19] Market Performance - The food and beverage sector underperformed the market, with the index down 0.2% and ranking 10th among sub-industries [44][45] - Individual stocks such as Laiyifen, Xiangpiaopiao, and Haoxiangni showed leading gains, while Mogao Co., Juewei Food, and Hainan Yedao experienced significant declines [45] Upstream Data - Prices for some upstream raw materials have decreased, which may benefit the cost structure of companies in the industry [47] - The price of full-fat milk powder increased by 22.9% year-on-year, while fresh milk prices decreased by 15.3% [30][39] Industry News - Coca-Cola has agreed to acquire the Australian ready-to-drink brand Billson's, which is expected to be completed by January 31, 2025 [74]