According to the CITIC Securities Research Report, the food and beverage sector's boom trend in the third quarter of 2024 was basically the same as the second quarter. The performance of leading Dongpeng Drinks exceeded market expectations. The overall performance of the rest of the mass demand side continued to be lackluster. However, from the reporting side, due to the elimination of inventory disturbances and increased spending by some companies to stimulate demand, the year-on-year decline in compounded costs increased compared to the second quarter. Therefore, there are still many companies' performance growth rates improving month-on-month. Currently, negative factors in the sector have been fully reflected in valuations and positions. With the introduction of various stimulus policies, we are still optimistic about the sector's subsequent performance and valuation repair. Currently, we recommend three main lines. 1) The main line of recovery is promoted; 2) independent growth logic; 3) the main line of defense with high dividends.

According to the CITIC Securities Research Report, the food and beverage sector's boom trend in the third quarter of 2024 was basically the same as the second quarter. The performance of leading Dongpeng Drinks exceeded market expectations. The overall performance of the rest of the mass demand side continued to be lackluster. However, from the reporting side, due to the elimination of inventory disturbances and increased spending by some companies to stimulate demand, the year-on-year decline in compounded costs increased compared to the second quarter. Therefore, there are still many companies' performance growth rates improving month-on-month. Currently, negative factors in the sector have been fully reflected in valuations and positions. With the introduction of various stimulus policies, we are still optimistic about the sector's subsequent performance and valuation repair. Currently, we recommend three main lines. 1) The main line of recovery is promoted; 2) independent growth logic; 3) the main line of defense with high dividends.