食品饮料行业周报：政策预期向好，重视低位布局机会

Investment Rating - The report maintains an "Outperform" rating for the food and beverage industry [2]. Core Insights - The report highlights a positive outlook for the food and beverage sector, emphasizing the importance of low-positioned investment opportunities due to favorable policy expectations [5]. - The white liquor sector is expected to see a valuation recovery driven by improved consumption policies and market adjustments by major companies [10]. - The beer sector faces short-term performance pressure but is anticipated to benefit from structural upgrades as consumer demand improves [11]. - The dairy sector is projected to recover gradually, with a focus on high-end and diversified products [12]. - The snack food sector is expected to maintain growth potential due to channel evolution and the emergence of new consumption patterns [14]. Summary by Sections 1. Weekly Insights - The white liquor sector is experiencing a recovery trend, with major companies adjusting market supply to stabilize prices [10]. - The beer sector's performance is under pressure, but structural upgrades are expected to continue as consumer demand improves [11]. - The dairy sector is focusing on high-end products and diversified offerings, with a gradual recovery anticipated [12]. 2. Market Performance - The food and beverage sector underperformed compared to the CSI 300 index, with a weekly increase of 0.09% against the index's 1.00% rise [17]. - Various sub-sectors within food and beverage showed mixed performance, with some segments like white liquor and dairy experiencing gains, while others like soft drinks and snacks faced declines [21]. 3. Key Data Tracking - The report tracks price movements in various segments, including white liquor, beer, and dairy products, indicating fluctuations in market prices and production volumes [30][36][40]. - The average price of fresh milk and other dairy products has shown slight variations, reflecting market dynamics [40]. 4. Company Announcements - Notable announcements include share reduction plans by Dongpeng Beverage and financial adjustments by other companies in the sector [61]. 5. Upcoming Events - Key upcoming events include shareholder meetings for various companies, indicating ongoing corporate governance activities within the sector [63].