[Table_Page] 投资策略月报|食品饮料 证券研究报告 | [Table_Title] 食品饮料行业 | | --- | | 如何布局零食"春季躁动"？——月聚焦 | [Table_Summary] 核心观点： [Table_Grade] 行业评级 买入 前次评级 买入 报告日期 2026-01-20 | | | | 食品饮料行业:春节走访：河 | 2026-01-18 | | --- | --- | | 南&上海市场跟踪 | | | 食品饮料行业:华南市场跟 | 2026-01-11 | | 踪：旺季开启，龙头表现较 | | | 优 | | | 食品饮料行业:餐饮供应链专 | 2026-01-09 | | 题：供需重构，拐点渐显 | | 识别风险，发现价值 请务必阅读末页的免责声明 [Table_PicQuote] 相对市场表现 [分析师： Table_Author]符蓉 SAC 执证号：S0260523120002 SFC CE No. BWC944 021-38003552 furong@gf.com.cn 分析师： 胡慧 SAC 执证号：S0260524020002 huhui@gf.com. ...

Core Insights - The New Year's holiday in Nanning has seen a significant increase in consumer activity, with various shopping districts and cultural streets hosting vibrant events that attract both locals and tourists [8][10]. Group 1: Consumer Activity - Nanning's "Three Streets and Two Alleys" has become a popular destination for food lovers, with restaurants experiencing full occupancy and a lively atmosphere throughout the day [9]. - The popularity of local dishes such as "Old Friend Noodles" and "Snail Noodles" has drawn visitors, with a notable increase in customer traffic during the holiday period [9]. - The government-issued consumption vouchers have effectively reduced costs for consumers, leading to a significant rise in restaurant patronage and overall spending [9]. Group 2: Event Highlights - The New Year's Eve music festival at the International Music Town featured various music genres, significantly boosting nearby businesses with a threefold increase in customer numbers compared to regular nights [10]. - The "artificial snow" event at Pavilion Pier created a festive atmosphere, attracting families and enhancing the holiday experience [11]. - The combination of cultural experiences and romantic settings at Pavilion Pier has made it a popular spot for holiday celebrations [11]. Group 3: Shopping Trends - The Wanxiang City shopping center reported a 10% increase in foot traffic on New Year's Eve, with sales in clothing, beauty, and dining experiencing a peak [12]. - Dream Island Crystal City integrated traditional culture with shopping, offering promotions that stimulated consumer interest, particularly in gold and festive food items [12]. - Sam's Club also saw a surge in demand for bulk food items and fresh produce, indicating a strong consumer preference for quality products during the holiday season [12].

Group 1 - Qianwei Central Kitchen announced a shareholder gift plan, offering frozen product gift packages worth 200 yuan to shareholders holding 100 shares or more, clarifying that this is a seasonal reward and not a stock clearance effort [3][4] - Former Wahaha Group executive Pan Jiajie has joined Guming as Senior Vice President of Supply Chain, focusing on new business incubation, which is expected to enhance the company's supply chain and production management [3][4] - Country Garden Services has formed a strategic partnership with Mengniu Group to collaborate on various dairy products, aiming to reduce delivery costs and improve service efficiency in community logistics [6][7] Group 2 - Lu Hua Group signed a strategic cooperation agreement with NetEase Yanxuan to leverage each other's strengths in channel capabilities and product quality to expand online market reach [6][7] - Zilin Vinegar's main products have received EU organic certification, allowing them to use the EU organic logo and access the EU market [6] - COFCO Technology plans to invest 880 million yuan to build a new starch sugar project in Pingliang, with a capacity of 250,000 tons per year, aiming to fill a gap in the northwest region [6][7] Group 3 - Gai Shi Food launched a new black gold gift box featuring rare seafood, inspired by "Seven Swords Descend from the Sky," targeting various gifting scenarios [7] - Jiangzhong Shiliao introduced a new series of vegetarian noodles, emphasizing high protein and low fat, suitable for health-conscious consumers [7] - The market has seen a rise in discussions around "hormone eggs," with misinformation spreading about their characteristics, highlighting the public's concern for food safety [10][11] Group 4 - Chilean cherry exporters have officially launched the 2025/26 cherry season in China, with over 546,000 tons imported in the previous season, amounting to approximately 3.3 billion USD [12] - Beijing's government has proposed to enhance the modern logistics system, focusing on food safety in key sectors and promoting cold chain logistics for fresh food [12]

Core Viewpoint - The trend of A-share companies offering unique shareholder rewards is gaining popularity, with companies like Emei Mountain A and Qianwei Yangchu engaging in promotional activities to attract investor attention and boost stock prices [1][2][3] Group 1: Company Activities - Emei Mountain A announced a shareholder reward program allowing individual shareholders holding over 500 shares to enjoy free admission to its scenic area from December 1, 2025, to January 31, 2026, along with discounts for accompanying family members [2] - Qianwei Yangchu quickly followed suit by offering a product gift package worth 200 yuan to shareholders holding at least 100 shares, which led to a temporary increase in its stock price [1] - Over 30 listed companies have engaged in similar shareholder reward activities since 2025, including gifting products and offering discounts, indicating a broader trend in the market [3] Group 2: Market Implications - These shareholder reward initiatives serve as innovative and low-cost investor relations strategies that can enhance shareholder loyalty and public goodwill, although their long-term impact on investment value depends on the company's core business growth and profitability [4] - Such activities can create short-term trading opportunities and significantly boost stock prices, but they often lack sustained fundamental support, leading to potential price corrections after the initial excitement [4] - The emotional impact on investors can lead to speculative behavior, diverting attention from the company's fundamental value and increasing market volatility [4]

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