According to the Zhitong Finance APP, beer stocks continue to decline. As of the time of writing, China Res Beer (00291) is down 4.06%, trading at HKD 27.2; Bud APAC (01876) is down 3.52%, trading at HKD 7.68; Tsingtao Brew (00168) is down 3.05%, trading at HKD 49.35.

On the news front, according to market reports, as the third-quarter reports are gradually disclosed, the beer industry, which in previous years delivered "double-digit" growth, is facing growth difficulties. Some leading companies are experiencing challenges such as "revenue growth without profit growth," "profit growth without revenue growth," and "a double decline in performance." Haitong Sec noted that beer companies' third-quarter reports are generally under pressure, with both revenue and profit growth rates declining compared to the first half of the year, and some showing a year-on-year decline.

Citic Sec stated that the macroeconomic recovery is still underway. The recent increase in policy strength is clear, and although the boosting effect on consumption still needs time to be verified, it is expected that the overall attractiveness of consumer allocations will improve under the anticipatory background. The alcoholic beverage industry has evident cyclical characteristics and is a representative consumer industry, thus there is a demand for allocation. Guolian believes that the cost advantages in beer will continue while the base also decreases further, demand remains relatively weak, and both volume and price of leading enterprises are slightly under pressure, leading to a decrease in performance growth.