Key investment points:
Market review this week: from April 11 to April 15, 2022, SW food and beverage industry index rose by 4.40% as a whole, ranking second in Shenwan primary industry, outperforming the Shanghai and Shenzhen 300 index by about 5.39 percentage points in the same period. Among the sub sectors, only the health products sector underperformed the CSI 300 index in the same period, and the other sectors outperformed the CSI 300 index in the same period. Among them, the pre processed food sector rose 18.93% this week, with the largest increase in the sector.
Net inflow of land stock link this week: from April 11 to April 15, 2022, land stock link had a total net inflow of 2.878 billion yuan. Among them, the net inflow of power equipment, real estate and electronics sector ranks first, while the net outflow of pharmaceutical and biological, non bank finance and steel sector ranks first. This week, the food and beverage sector had a net inflow of 622 million yuan, ranking seventh in the Shenwan industry.
Industry Week view: Fenjiu has made a good start, led by the pre processed food sector. Baijiu sector: this week’s Sichuan Swellfun Co.Ltd(600779) 52 point new generation well recommended retail price increased to 808 yuan, Langjiu’s large single product Qinghua Lang’s factory price was raised to 1009 yuan, becoming the first single product in the market with a factory price of more than 1000 yuan. At present, the sector has entered the performance disclosure period. This week Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) announced the main financial data of 2021 and the announcement of main business conditions in the first quarter of 2022. The company ended successfully in 2021 and made a good start in 2022, with data exceeding market expectations. From the performance data released by Baijiu enterprises, the performance of several wine companies in 2021 has been growing steadily. Shede Spirits Co.Ltd(600702) , Jiugui Liquor Co.Ltd(000799) and other companies have performed well in the core products during the Spring Festival, and the performance of Baijiu in the first quarter is worth looking forward to. 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) ( Kweichow Moutai Co.Ltd(600519) ), Wuliangye Yibin Co.Ltd(000858) ( Wuliangye Yibin Co.Ltd(000858) ) and Luzhou Laojiao Co.Ltd(000568) ( Luzhou Laojiao Co.Ltd(000568) ). In the secondary high-end liquor, we can pay attention to Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) ( Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) ), Jiugui Liquor Co.Ltd(000799) ( Jiugui Liquor Co.Ltd(000799) ), Shede Spirits Co.Ltd(600702) ( Shede Spirits Co.Ltd(600702) ), etc; Regional liquor can focus on companies with greater recovery flexibility, such as Anhui Gujing Distillery Company Limited(000596) ( Anhui Gujing Distillery Company Limited(000596) ), Anhui Kouzi Distillery Co.Ltd(603589) ( Anhui Kouzi Distillery Co.Ltd(603589) ), Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) ( Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) ). Popular products sector: affected by the epidemic situation in Shanghai and other places, the pre processed food sector led the rise this week, with a weekly increase of 18.93%. The prosperity of prefabricated vegetables and frozen food sector rose. In the medium and long term, with the joint catalysis of BC end, China’s pre processed food market has broad development space in the future. From the cost side, affected by the conflict between Russia and Ukraine and the drought in South America, the Shenzhen Agricultural Products Group Co.Ltd(000061) prices of soybeans, soybean meal and corn are at a high level, and the cost pressure of some popular products remains. 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. The aspect of the subject can focus on the aspect of the subject, which can focus on the aspect of the subject, and can focus on the aspect of the subject. It can focus on the aspect of the subject, and can focus on the subject of the Foshan Haitian Flavouring And Food Company Ltd(603288) ( Foshan Haitian Flavouring And Food Company Ltd(603288) ( Foshan Haitian Flavouring And Food Company Ltd(603288) ( Foshan Haitian Flavouring And Food Company Ltd(603288) Foshan Haitian Flavouring And Food Company Ltd(603288) ) ( Foshan Haitian Flavouring And Food Company Ltd(603288) ( Foshan Haitian Flavouring And Food Company Ltd(603288) ( Foshan Haitian Flavouring And Food Company Ltd(603288) ( Jonjee Hi-Tech Industrial And Commercial Holding Co.Ltd(600872) ) ( Huadian Power International Corporation Limited(600027) ), the Qianhe Condiment And Food Co.Ltd(603027) ( Qianhe Condiment And Food Co.Ltd(603027) ) ( Qianhe Condiment And Food Co.Ltd(603027) ), the Qianhe Condiment And Food Co.Ltd(603027) Qianhe Condiment And Food Co.Ltd(603027) , the \ ( Suzhou Weizhixiang Food Co.Ltd(605089) ), Fu Jian Anjoy Foods Co.Ltd(603345) ( Fu Jian Anjoy Foods Co.Ltd(603345) ), Zhengzhou Qianweiyangchu Food Co.Ltd(001215) ( Zhengzhou Qianweiyangchu Food Co.Ltd(001215) ), 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.
