Market review this week: from February 14 to February 18, 2022, SW food and beverage industry index rose by 2.97% as a whole, ranking seventh among all Shenwan industry indexes, outperforming the Shanghai and Shenzhen 300 index by about 1.89 percentage points in the same period. Among the sub sectors, the snack sector, meat products sector, health products sector, pre processed food sector and baked goods sector lost the CSI 300 index in the same period this week, and the other sectors outperformed the CSI 300 index in the same period. Among them, the beer sector rose 6.27% this week, ranking first in the industry; The snack sector had the biggest decline this week, at 1.82%.
Net inflow of land stock link this week: from February 14 to February 18, 2022, land stock link had a total net outflow of 2.399 billion yuan. Among them, the net inflow of transportation, banking and power equipment sectors ranks first, and the net outflow of pharmaceutical and biological, computer and architectural decoration sectors ranks first. This week, the food and beverage sector had a net inflow of 228 million yuan, ranking 11th in the Shenwan industry.
Industry Week view: Condiment cost pressure still exists, and actively pay attention to marginal improvement. Baijiu sector: in February 14th, Moutai group held the market work conference in 2022, summarized the work in 2021, and scientifically planned the marketing tasks in 2022. Chairman Ding Xiongjun first proposed the “five in one marketing law” at the working meeting to further promote the reform of the marketing system. In addition, willing to release the 2021 annual performance express, which is consistent with the previously announced performance forecast. Driven by the sales point, Baijiu sector head enterprises are expected to get a good start, which will catalyze the first quarter results. In the follow-up, we can grasp individual stocks with high certainty and great performance flexibility. In terms of the target, we recommend that we must focus on the high-end Baijiu Kweichow Moutai Co.Ltd(600519) (600519), Wuliangye Yibin Co.Ltd(000858) (000858) and Luzhou Laojiao Co.Ltd(000568) (000568). In the secondary high-end liquor, you can pay attention to Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) (600809), Jiugui Liquor Co.Ltd(000799) (000799), etc; Regional liquor can focus on companies with greater recovery flexibility, such as Anhui Gujing Distillery Company Limited(000596) (000596), Anhui Kouzi Distillery Co.Ltd(603589) (603589), Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) (603369). Popular goods sector: in the general environment of price increase, there are marginal improvement opportunities in the popular goods sector, and the profitability may be gradually improved. However, due to the recent drought in Brazil and Argentina, the main soybean producing countries, the global soybean production has been reduced, pushing the prices of soybean and soybean meal higher, and the prices are at a relatively high level in recent five years. At present, the market demand is still weak, and the disturbing factors of mass products still exist. The market will continue to pay attention to the marginal improvement brought by the price increase of products, and grasp the high-quality sector in the industry. In terms of subject matter, we can focus on Foshan Haitian Flavouring And Food Company Ltd(603288) (603288), Jonjee Hi-Tech Industrial And Commercial Holding Co.Ltd(600872) (600872), Qianhe Condiment And Food Co.Ltd(603027) (603027), Tsingtao Brewery Company Limited(600600) (600600), Chongqing Brewery Co.Ltd(600132) (600132), Inner Mongolia Yili Industrial Group Co.Ltd(600887) (600887), Chacha Food Company Limited(002557) (002557), Fu Jian Anjoy Foods Co.Ltd(603345) (603345), etc.
Risk tips: raw material price fluctuation, product price increase less than expected, channel development less than expected, intensified industry competition, food safety risk and macroeconomic downside risk. The weekly report of the banking industry reports the research of the banking industry and studies the securities
