食品饮料行业动态研究报告：新消费景气度上行，供需两端看布局机会

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry [8]. Core Insights - The new consumption sector is experiencing a rising trend, with opportunities identified from both supply and demand perspectives. Supply chain efficiencies are improving due to technological advancements, leading to a continuous rise in market sentiment [6][7]. - The emergence of "self-care" consumption trends among younger consumers is driving demand for low-alcohol beverages and health-oriented products. Companies like Guyue Longshan and Huaiqi Mountain are highlighted for their innovative product offerings targeting this demographic [7]. Summary by Sections Industry Performance - The food and beverage sector has underperformed relative to the Shanghai and Shenzhen 300 index over the past month (-3.3%), three months (-0.6%), and twelve months (-4.7%) [4]. Supply-Side Opportunities - Companies such as Mixue Group, Guoquan, and Chabaidao are recommended for their innovative supply chain models and market adaptability. Mixue Group is noted for its end-to-end supply chain, while Guoquan capitalizes on the home consumption trend with its hot pot ingredient stores [6]. Demand-Side Trends - The report emphasizes the rise of emotional and self-care consumption, with recommendations for companies like Guyue Longshan and Huaiqi Mountain, which are developing products that resonate with younger consumers. Additionally, health-focused products are gaining traction, with companies like Liziyuan and Junyao Health launching innovative offerings [7]. Key Companies and Earnings Forecast - The report provides a detailed earnings forecast for several companies, including: - Ximai Food: EPS forecast of 0.78 in 2025, with a "Buy" rating [10]. - Guyue Longshan: EPS forecast of 0.24 in 2025, with a "Buy" rating [10]. - Huaiqi Mountain: EPS forecast of 0.50 in 2025, with a "Buy" rating [10]. - Youyou Food: EPS forecast of 0.47 in 2025, with a "Buy" rating [10]. - Liziyuan: EPS forecast of 0.66 in 2025, with a "Buy" rating [10]. - Junyao Health: EPS forecast of 0.11 in 2025, with a "Hold" rating [10].