Dongguan Securities research report pointed out that in the second quarter, the performance of the beer industry showed differentiation. In the short term, since July this year, the national high temperature weather has driven an increase in beer demand, combined with the hosting of large-scale sports events, the sales volume in the third quarter is expected to improve compared to the previous quarter. From the perspective of costs, the cancellation of the anti-dumping policies on malt imports is expected to alleviate the cost pressure on liquor companies. In the medium to long term, the trend of high-endification in the beer industry remains unchanged. On the one hand, under the background of improving residents' consumption levels, companies within the sector are elevating their product levels through high-endification strategies to meet market demand. On the other hand, with the rise of craft beer, non-alcoholic beer, and other products, the profitability of the beer sector is expected to increase. Recommended stocks to watch: Tsingtao Brewery, Chongqing Brewery, Beijing Yanjing Brewery.