Minsheng Securities: First given "recommended" rating to Bright Food Group, emphasizing operational turning point amidst upward trend in cattle cycle.

Minsheng Securities' research report pointed out that Bright Food Group is a traditional state-owned enterprise in Shanghai, focusing on the meat industry layout. The new consumption trend in China is reshaping century-old brands, paying attention to the upturn of the cattle cycle at the inflection point in management. The company is a leading industry player in the fields of canned meat products, beef and mutton, honey, and milk candy. Its subsidiary, Silver Fern Farms in New Zealand, is one of the largest beef, lamb, and venison slaughter companies in New Zealand, and will benefit greatly from the upturn of the cattle cycle. The company focuses on brand building, synergizing with the meat industry chain, fully leveraging Bright Food Group's core competitiveness. For the first time, Minsheng Securities is recommending a "buy" rating on the stock.