食品饮料行业周报：板块继续磨底中，继续关注餐饮复苏

2023 年 06 月 11 日板块继续磨底中，继续关注餐饮复苏—食品饮料行业周报推荐(维持)投资要点分析师：孙山山S1050521110005sunss@cfsc.com.cn分析师：何宇航S1050522090002heyh1@cfsc.com.cn行业相对表现表现1M3M12M食品饮料(申万)-5.4-12.7-5.5沪深 300-4.2-6.5-5.6市场表现资料来源：Wind，华鑫证券研究相关研究1、《食品饮料行业周报：重视股东大会反馈，板块整体稳中向上》2023-05-282、《食品饮料行业周报：底部强推白酒，大众品个股行情》2023-05-213、《食品饮料行业周报：去库存仍是主线，大众品强复苏途中》2023-05-14▌ 一周新闻速递行业新闻：1）四川：规范食品直播带货。2）天猫 618 酒类销售榜出炉。公司新闻：1）贵州茅台：茅台冰淇淋旗舰店上架咖啡。2）山西汾酒：汾酒 2023 营收目标增长 20%。3）口子窖：推进40 万吨储能规划。▌ 投资观点当前我们仍维持之前子板块顺序：白酒>啤酒>休闲食品=软饮料>速冻食品>调味品>乳制品。白酒板块：我们认为当前白酒处于历史较低位置，强烈建议布局，继续重点推荐 2+4+3 产品矩阵，即泸州老窖+五粮液+次高端四杰+老白干酒+金种子酒+今世缘，关注洋河股份和古井贡酒。大众品板块：当前处于淡季，餐饮端仍在弱复苏阶段，原材料如大豆、棕榈油以及包材等处于下行区间，关注餐饮端复苏进度、新品放量等。现阶段重点推荐 3+3+3+3 产品矩阵，即休闲食品三剑客（盐津铺子+甘源食品+劲仔食品）+啤酒三杰（重庆啤酒+青岛啤酒+燕京啤酒）+调味品三杰（中炬高新+日辰股份+晨光生物）+预期差三杰（涪陵榨菜+佳禾食品+道道全）。维持食品饮料行业“推荐”投资评级。▌ 风险提示疫情波动风险；宏观经济波动风险；推荐公司业绩不及预期的风险；行业竞争风险；食品安全风险；行业政策变动风险；消费税或生产风险；原材料价格波动风险等。证券研究报告行业研究证券研究报告请阅读最后一页重要免责声明2诚信、专业、稳健、高效重点关注公司及盈利预测公司代码名称2023/6/9股价EPSPE投资评级2023E2024E2025E2023E2024E2025E600519.SH贵州茅台1666.0058.2667.6577.7528.6024.6321.43买入000858.SZ五粮液164.598.059.3210.6620.4517.6615.44买入000568.SZ泸州老窖205.948.6610.5712.7323.7819.4816.18买入600809.SH山西汾酒204.208.6310.6913.0523.6619.1015.65买入002304.SZ洋河股份136.267.488.9710.5918.2215.1912.87买入000799.SZ酒鬼酒87.234.014.915.9521.7517.7714.66买入600702.SH舍得酒业130.466.458.049.8720.2316.2313.22买入600779.SH水井坊57.822.923.413.9219.8016.9614.75买入000596.SZ古井贡酒245.877.759.6711.9531.7325.4320.57买入603369.SH今世缘54.262.643.344.1720.5516.2513.01买入603589.SH口子窖52.533.163.724.3316.6214.1212.13买入603198.SH迎驾贡酒55.652.763.454.2320.1616.1313.16买入600199.SH金种子酒24.500.040.190.39612.50128.9562.82买入603919.SH金徽酒22.980.791.031.3029.0922.3117.68买入600197.SH伊力特26.900.731.131.5736.8523.8117.13买入600559.SH老白干酒25.360.831.111.4230.5522.8517.86买入603288.SH海天味业48.751.471.701.9533.1628.6825.00买入603027.SH千禾味业20.590.480.610.7742.9033.7526.74买入603317.SH天味食品14.570.410.530.6835.5427.4921.43买入600872.SH中炬高新35.561.021.211.4134.8629.3925.22买入002507.SZ涪陵榨菜23.731.121.311.5221.1918.1115.61买入600305.SH恒顺醋业10.830.190.240.3057.0045.1336.10买入603755.SH日辰股份30.240.931.241.6532.5224.3918.33买入603170.SH宝立食品21.510.680.861.0831.6325.0119.92买入300999.SZ金龙鱼40.450.981.281.6641.2831.6024.37买入300908.SZ仲景食品48.571.661.912.1729.2625.4322.38买入600298.SH安琪酵母36.631.682.042.3921.8017.9615.33买入300138.SZ晨光生物17.361.021.271.5817.0213.6710.99买入300755.SZ华致酒行24.601.702.363.1114.4710.427.91买入605499.SH东鹏饮料161.644.675.977.4134.6127.0821.81买入603711.SH香飘飘20.650.680.830.9830.3724.8821.07买入605337.SH李子园17.761.021.221.4617.4114.5612.16买入600132.SH重庆啤酒90.493.193.844.5628.3723.5719.84买入600600.SH青岛啤酒98.823.323.884.4429.7725.4722.26买入603345.SH安井食品151.205.166.758.4529.3022.4017.89买入603517.SH绝味食品36.621.361.782.3126.9320.5715.85买入603057.SH紫燕食品24.440.981.241.5524.9419.7115.77买入002847.SZ盐津铺子80.292.383.214.2133.7425.0119.07买入603719.SH良品铺子27.911.011.201.3827.6323.2620.22买入002991.SZ甘源食品78.002.593.494.6130.1222.3516.92买入证券研究报告请阅读最后一页重要免责声明3诚信、专业、稳健、高效002557.SZ洽洽食品42.102.192.532.9019.2216.6414.52买入003000.SZ劲仔食品13.200.370.470.5835.6828.0922.76买入605338.SH巴比食品24.981.071.301.5723.3519