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华西证券:未来生育友好政策有望持续出台 下沉市场有望首先受益
Di Yi Cai Jing· 2025-12-18 00:08
Group 1 - The core viewpoint is that pro-natalist policies are expected to continue, which will directly reduce family childbirth costs and boost fertility intentions, particularly benefiting lower-tier markets [1] - Short-term benefits are anticipated for maternal and infant consumer goods, including retail channel merchants, brands and manufacturers of maternal and infant products, and pediatric drug manufacturers, as well as postpartum care centers [1] - Long-term support will require complementary policies in childcare and education, which will benefit early education and youth training institutions [1]