食品饮料行业周报：五粮液暂停供货，春节旺季逐渐开启

Investment Rating - The report maintains a "Positive" investment rating for the food and beverage industry [1]. Core Insights - The announcement by Wuliangye to suspend the supply of its eighth generation products signals a clear price support message to the market, with expectations that the sales atmosphere will gradually improve as the Spring Festival approaches [2][10]. - The demand for business banquets and weddings is showing signs of recovery, indicating a positive performance for the banquet market during the Spring Festival, particularly in the price range of 100-300 [2][10]. - The report suggests that leading liquor brands are likely to gain market share through brand and scale advantages, especially as they increase investments in channels and consumers during this peak sales period [2][11]. Summary by Sections Market Performance - Last week, various sub-sectors within the food and beverage industry experienced declines, with the following weekly changes: soft drinks -2.33%, dairy -2.35%, other foods -3.47%, yellow wine (Yangtze) -4.25%, meat products -4.75%, white liquor III -4.79%, beer -4.86%, other alcoholic beverages -4.87%, and seasoning and fermentation products -6.08% [3][12]. - Among liquor companies, the top three performers were Yingjia Gongjiu at +3.91%, Zhangyu B at -0.24%, and CITIC Niya at -1.40%, while the bottom five were Hainan Yedao at -8.27%, Tianyoude Jiu at -8.38%, Chongqing Beer at -8.49%, Bairun Co. at -9.21%, and Shunxin Agriculture at -9.73% [3][12]. Industry Developments - The report emphasizes the importance of focusing on leading companies with sustainable market share growth capabilities, particularly those in the real estate liquor sector that maintain stability in a weak market, recommending companies like Kweichow Moutai [11]. - Upcoming significant industry events include shareholder meetings for various companies, such as Liziyuan and Yike Foods, scheduled for January 15 and January 20, respectively [5][22]. Company Tracking - Notable announcements include the establishment of a new branch by Lanzhou Yellow River and the completion of the cancellation of subsidiaries by Chongqing Fuling Mustard [22][23]. - The report highlights the IPO progress of Mixue Ice City, which has received approval for its listing in Hong Kong, and the issuance of a food production license to Panlong Pharmaceutical [26][27].