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滲透率提升下有望進一步擴大市場份額。植脂末及咖啡業務短期承壓；2）成本回落但市場推廣投入增加，評級理由主要包括：1）2024Q1經營淡季疊加下遊低價競爭影響，維持佳禾食品（605300.SH ，原材料價格波動風險。咖啡及燕 AI點評：佳禾食品近一個月獲得2份券商研報關注，（文章來源：每日經濟新聞）2023Q4/2024Q1淨利率小幅下滑；3）看好公司作為優質飲品供應鏈企業 ，風險提示：下遊需求恢複不及預期， |
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