Chinese food and beverage stocks fall sharply

Chinese-funded food and beverage stocks have fallen significantly this morning; Yurun food (01068-HK) now Spit 6.4%, Mengniu Dairy (02319-HK) also fell 3%, Tsingtao beer (00168-HK) flat, only China food (00506-HK) a small rise of 0.43%. China Merchants Securities (Hong Kong) released a new study, said the second half of the class to give the neutral rating, because the plate 23 times times 09PE valuation is not cheap. But at the same time, 2009 in the first half of the food and beverage industry sales income slowed down, but the industry is gradually recovery.　　Material cost pressure reduction effect will continue to be reflected in the second half of 2009. China Merchants Securities (Hong Kong) is still the first to recommend a stable demand for mass products companies, but also suggested that consumer confidence to improve the high-end positioning of the company's sales rebound.　　Based on the lower base in the second half of last year, it said that the second half of this year's dairy sales rebound the largest, while in the second half of the food and beverage season, it is believed that dairy products, low-temperature meat, red wine, liquor chain sales growth Advantage will be more obvious.　　China Merchants Securities (Hong Kong) provides an investment strategy: short-term focus on sales rebound, long-term focus on growth potential of industries, such as dairy products, meat products and red wine. Shares, China Merchants Securities (Hong Kong) Recommended Mengniu Dairy, Chinese food, and advised to pay attention to yurun food, Tsingtao beer. Refers to Mengniu dairy sales revenue growth exceeding expectations, high-end milk sales growth to provide profit support, so give the unit to buy a rating, the target price of HK $22.　　Also known as Chinese food products are constantly upgraded wine business, beverage business benefited from the strategic layout of Coca-Cola, small packaged food oil and confectionery business also began to profit, and then the unit is expected to 09-11eps 0.24, 0.27, 0.33 Hong Kong dollar, to increase its target price to HK $5.5. China Merchants Securities (Hong Kong) also gave Tsingtao beer a better rating than the big city, and the 09-11eps is expected to be rmb0.81,0.95 and 1.22 respectively. Also called Yurun food Run as one of the leading companies in the industry, the development prospects are more clear.