Market review of this week: SW food and beverage industry index rose by 3.76% as a whole this week, ranking second among all Shenwan industry indexes, outperforming the CSI 300 index by about 4.44 percentage points over the same period, with a relatively strong performance. Among the segments, only bakery (- 2.13%) underperformed the CSI 300 index in the same period, while other segments outperformed the CSI 300 index in the same period and recorded positive gains. Among them, the snack sector rose 6.81% this week, ranking first in the food and beverage industry.
Net inflow of land stock link this week: from December 20 to December 24, land stock link had a net outflow of 1.221 billion yuan. Among them, the net inflow of power equipment, electronics and utilities sector ranks first, and the net outflow of food and beverage, mechanical equipment and banking sector ranks first. This week, the food and beverage sector had a net outflow of 2.967 billion yuan, ranking first in the Shenwan industry.
Important data tracking: Baijiu plate: flying sky, national cellar 1573 price increase compared to last Friday, eight generation five price is unchanged from last Friday. Condiment sector: the price of soybean meal and white granulated sugar this week increased compared with last Friday, and the price of glass decreased. Beer sector: this week, the prices of barley and aluminum ingots increased, while the prices of glass and corrugated paper decreased. Dairy sector: fresh milk prices remain unchanged. Meat products: pork prices fell this week.
Industry Week view: high-end liquor is strong in certainty and Baijiu Baijiu is concerned about liquor prices. Baijiu: following the announcement of the price increase by Wuliangye Yibin Co.Ltd(000858) and Luzhou Laojiao Co.Ltd(000568) , the market’s expectations for Moutai’s price increase and reform have further been enhanced, and the Baijiu plate has achieved a larger increase this week. Beijing Shunxin Agriculture Co.Ltd(000860) in popular Baijiu also announced the price increase of products, and raised prices for some products. At the same time, Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) and Jiugui Liquor Co.Ltd(000799) held a dealer conference this week to look forward to the company’s future development goals and directions. With the coming of the new year’s Spring Festival, Baijiu has entered the peak season for sales. It can focus on the cross year Baijiu market and the progress of the follow-up dealer’s conference. Subject matter, It is recommended that Kweichow Moutai Co.Ltd(600519) (600519), Wuliangye Yibin Co.Ltd(000858) (000858) and Luzhou Laojiao Co.Ltd(000568) (000568) should be continuously focused on the strong high-end Baijiu liquor; Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) (600809) and Jiugui Liquor Co.Ltd(000799) (000799) should be paid attention to in the second high-end liquor; regional wine can focus on 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) companies with larger resilience and other Baijiu and popular products: yellow wine and Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) after the price rise of liquor and public goods. The price increase announcement was issued this week to adjust the prices of some products by 4% – 20%. The product price adjustment plan will be implemented from January 20, 2022. In the environment of price increase, there are marginal improvement opportunities for the sector, and the profitability may be gradually improved. Follow up, pay attention to the progress of plate price increase and grasp the marginal inflection point. 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.
