The CITIC Construction Investment Research Report points out that as beer enters peak season, prices of some raw materials for popular products have been falling steadily, and profit margins have improved. Continued optimism: 1) The snack and beverage industry maintains a high level of prosperity, and new channels bring important incremental opportunities to companies in the industry; 2) Demand for beer is stable and is in a structural upgrade stage. It is about to enter the peak season, and demand is clearly heating up. 3) In line with the continuous recovery of catering channels, it is recommended to focus on condiments and catering chain brands that are expected to develop new products or reform. 4) Dairy products have cost advantages, combined with structural upgrades, high dividends, and outstanding cost performance.
中信建投：啤酒旺季渐近需求有望修复 关注乳企成本弹性
CITIC Construction Investment: Demand is expected to recover as the peak season approaches, and focus on dairy companies' cost elasticity
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