智通财经APP获悉，乳业股集体回暖，截至发稿，优然牧业(09858)涨5.47%，报1.35港元；中国飞鹤(06186)涨3.04%，报5.77港元；现代牧业(01117)涨2.53%，报0.81港元；蒙牛乳业(02319)涨2.16%，报17港元。
海通国际指出，24Q3乳制品行业受终端需求较弱等因素影响，整体板块营收同比承压，然而环比表现由负转正，春节备货Q4收入有望进一步改善；利润表现方面，受益于原奶价格下行及整体费用率管控良好，整体板块利润端表现亮眼。展望24年四季度及25年，我们认为随着消费复苏情况逐步回暖，低基数下常温液奶有望恢复增长，且原奶供需有望达到新平衡，我们预计行业整体表现将有望进一步改善。
华泰证券则指出，展望2025年，此前七部委联合发布刺激乳业的消费政策通知，政策催化下、乳制品需求有望得到改善；建议关注春节旺季的动销表现，礼赠场景有望提振高端液奶需求，且在龙头乳企锚定高质量发展、积极布局有机等高端品类的推动下，产品结构提升可期。此外，10月28日国务院办公厅印发《关于加快完善生育支持政策体系推动建设生育友好型社会的若干措施》，旨在推动生育水平回升，我们看好顶层设计对生育支持的重视，奶粉行业集中度提升仍为主线。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.