November 16 news, the concept of liquor continues to rise, as of press time, Cofco science and technology rose more than 7%, green barley wine, Gujing tribute wine, Luzhou laojiao followed.
On the news side, China Merchants said that the overall performance of liquor is stable, the high-end performance is steady, the sub-high-end mobile sales are differentiated, the overall wholesale price is stable, and the inventory is benign. Sentiment in the food sector has rebounded, overall demand is still recovering, and the impact of the epidemic still exists in stages. Investment advice: the first high-end liquor (Maotai, Luzhou laojiao, Wuliangye) with good pattern, stable demand and outstanding performance-to-price ratio (Maotai, Luzhou laojiao, Wuliangye) 2. Yanghe, Gujing and modern fate with leading layout of high-priced products with accelerated conditions or expected reform; 3. Fenjiu and drunkards who can be put into harvest through higher channels. Food plate recommendation 1. Under the background of price increase, the pattern is good, one is dominant (Haitian, mustard, negotiation, etc.), and the pattern is improved (Yili, Mengniu, China Resources, Tsingtao Beer); 2. The performance is expected to improve at the inflection point of demand, focusing on polyphony (Yihai, Tianwei), snack food (peaches and plums, negotiations), lo Wei (unique flavor, Zhou's Black Duck). 3. The industry has great long-term potential, waiting for valuation and digestion before layout, low alcohol (100 run), prefabricated food + catering industry chain.