食品饮料行业点评：政策端促消费，板块加速修复

Investment Rating - The industry investment rating is "Outperform the Market" [9] Core Viewpoints - Recent policies from the central government aim to boost consumption, which is expected to accelerate the recovery of the food and beverage sector [6] - The report highlights that the recovery in the food and beverage industry will be driven by improved demand in the downstream restaurant sector, benefiting companies like Anjuke Foods, Yanjing Beer, Chongqing Beer, and Haitian Flavoring [5][6] - The report suggests that the snack retail chain sector is entering a new phase of competition, with opportunities in full-category discount channels, recommending companies like Three Squirrels and Wancheng Group [5] - The dairy sector is expected to see improved supply-demand dynamics, with leading dairy companies entering a profit recovery phase, recommending Yili Group and suggesting attention to New Dairy [5] Summary by Sections - Policy Impact: The recent consumption promotion plan includes comprehensive measures aimed at enhancing domestic demand and improving consumer confidence, which is crucial for the food and beverage sector [6] - Sector Opportunities: The report identifies specific sectors within food and beverage that will benefit from policy support, including the restaurant supply chain, snack retail chains, and dairy products [5][6] - Consumer Behavior: The report anticipates a gradual recovery in consumer spending, with a forecast of a "front-low, back-high" recovery rhythm as consumer income and confidence improve [6]