行业周报：新消费驱动板块上行，关注业绩可持续兑现品种-20250608

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The new consumption concept is prominent, with incremental market growth and "self-satisfaction consumption" providing growth momentum [4][12] - From June 2 to June 6, the food and beverage index declined by 1.1%, ranking 27th among primary sub-industries, underperforming the CSI 300 by approximately 1.9 percentage points [12][13] - Companies with new consumption concepts in the food and beverage sector showed good performance, particularly in snacks, health products, and meat products [12][13] Summary by Sections Weekly Viewpoints - The food and beverage sector is experiencing a decline, but companies with new consumption concepts are performing well, particularly in snacks and small food companies [12] - The expansion of new channels, new product categories, and new market entries is driving growth in the sector [12] Market Performance - The food and beverage index underperformed the market, with snacks (+4.6%), health products (+1.7%), and meat products (+1.1%) leading the sub-industry performance [13][16] - Individual stocks such as Junyao Health and Huasheng Group showed significant gains, while companies like Kuaijishan and ST Jiayi faced declines [13][17] Upstream Data - Some upstream raw material prices have decreased, with the price of whole milk powder at $4,173 per ton, down 3.7% month-on-month but up 20% year-on-year [18][22] - Domestic fresh milk prices are on a downward trend, currently at 3.1 yuan per kilogram, down 8.4% year-on-year [18][22] Alcohol Industry News - Kuaijishan's "One Day One Smoke" sparkling yellow wine has begun its marketing campaign, indicating a focus on enhancing brand recognition and expanding market reach [41] - The beer production volume for large-scale enterprises in China showed a slight decline of 0.6% year-on-year for the first four months of 2025, but April saw a 4.8% increase [41] Recommended Companies - Recommended companies include Shanxi Fenjiu, Guizhou Moutai, and Ximai Food, with a focus on their growth potential and market strategies [5][45]