食品饮料行业周报：淡季白酒控货挺价，大众品需求持续磨底

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry [8]. Core Insights - The white liquor sector is currently in a low season, with stable demand and some companies implementing inventory control measures to maintain market health [4]. - The report identifies three main investment lines within the white liquor sector: high-end brands benefiting from valuation recovery, real estate liquor brands showing clear improvement, and mid-tier brands with strong performance certainty [4]. - The mass consumer goods sector is expected to continue its recovery, with various companies focusing on expanding their market presence and product offerings [5][7]. Industry News - Anhui's large-scale white liquor enterprises reported revenue of 37.58 billion yuan [19]. - New production capacity of 5,000 tons for sauce liquor was added in Renhuai last year [20]. - The target for the output value of Zunyi's white liquor this year is set to exceed 150 billion yuan [21]. Company News - Guizhou Moutai announced a potential price increase and appointed Liu Shizhong as the new deputy general manager [29]. - Luzhou Laojiao has halted production of its "Old Head Qu" product [30]. - Shanxi Fenjiu has suspended sales of several older product lines [31]. Key Company Feedback - The report highlights various companies' strategies, such as Guoquan Shihui's plan to accelerate store openings and Panda Dairy's focus on new product development to boost orders [5][7]. - The mass consumer goods sector is seeing a trend of cautious inventory preparation ahead of the Spring Festival, with expectations for stable growth in major clients like McDonald's and Tasting [5][7]. Financial Forecasts - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for several key companies, indicating a positive outlook for firms like Luzhou Laojiao, Guojing Gongjiu, and Moutai, all rated as "Buy" [9][11].