Ping An Securities: "Special Action Plan for Promoting Healthy Consumption" Released, Health Products Industry Welcomes Development Opportunities

According to the Zhitong Finance APP, Ping An Securities has released a research report stating that with the continuous introduction of policies to promote consumption, as well as the gradual recovery of residents' income and confidence, the consumption recovery will show a pattern of low first and high later, maintaining an "outperforming the market" rating for the food and beverage industry. This plan directly benefits the health products sector, with a positive outlook on sectoral opportunities, focusing on companies with competitive advantages. It is recommended to pay attention to BYHEALTH (300146.SZ), SIRIO (300791.SZ), and CABIO (688089.SH). Event: According to Xinhua News Agency, the "Special Action Plan for Promoting Healthy Consumption" jointly issued by the Ministry of Commerce, the National Health Commission, and 12 other departments was released on the 9th. Main Points from Ping An Securities: Improve the quality of health goods and services to better meet the health consumption needs of the people. This plan proposes to enhance 10 key tasks, among which those directly related to the food and beverage sector include: (1) Improving the level of healthy dietary consumption, cracking down on illegal food additives, and conducting effective checks on the validity of organic food certifications; strengthening the construction of nutrition and health projects in the catering industry, guiding catering enterprises to promote the use of dietary guidelines. (2) Optimizing the supply of special food markets, deepening the reform of the registration and filing system for special foods, improving the pre-review and post-evaluation mechanisms for health food, and streamlining the review and registration of new functions and products of health food. Encouraging enterprises to strengthen process research and development, product innovation, and quality control, focusing on the development of special medical purpose formula foods, and increasing efforts to combat price violations in the fields of health food and "one old and one young." This plan strengthens the concepts of nutrition and health without additives in food processing and catering, and optimizes the supply system of health food, directly promoting the healthy development of the health products industry. The health products industry welcomes new opportunities, focusing on companies with competitive advantages. With the continuous increase in per capita disposable income of residents, the enhancement of health awareness, and the intensification of population aging trends, China's health products market is expected to further expand, ushering in a golden period of rapid development. Companies with the following competitive advantages are more likely to stand out: (1) Brand awareness and market insight: Companies with good brand recognition and industry reputation, capable of timely and deeply exploring market trends and customer needs for health products, and dynamically adjusting brand building and marketing strategies, are more likely to gain consumer recognition and establish a stable customer base. (2) R&D capabilities: Companies with strong R&D capabilities have significant advantages in product development, continuously launching new products and creating a comprehensive product matrix to meet the increasingly diverse health product consumption needs of consumers. (3) Product quality: Good product quality and guaranteed safety are fundamental to the long-term sustainable development of health product companies. Strict quality control management is essential to cultivate a highly loyal consumer base. (4) Sales channels: A reasonable channel layout can more efficiently meet the diverse needs of consumers, enhancing product sales and brand influence. Risk Warning: 1) The slope of consumption recovery may not meet expectations: Under fluctuations in macroeconomic growth, the slope of recovery in residents' consumption capacity and willingness in the short term may not meet expectations, thereby affecting the speed of recovery in the consumption sector. 2) Food safety issues: Food safety is a red line for industry development; once food safety issues arise, they can have a huge negative impact on the industry, and recovery may take a long time 3) Impact of raw material fluctuations: The food and beverage industry can alleviate the pressure of rising raw materials to a certain extent through price increases, but excessive increases in raw materials will affect the industry's gross profit margin