Consumer Staples Nov 20, 2020 09:08 AM (GMT+8) · EqualOcean
JP Morgan reported that it was still optimistic about the upscale trend of the mainland beer industry, as it could promote the expansion of gross profit rate, and the market attached more importance to the growth quality and gross profit expansion of beer stocks than the increase in beer volume. In the industry, the bank's first choice is still China Resources beer, followed by Tsingtao beer and Budweiser Asia Pacific. According to the National Bureau of statistics, the mainland's beer industry production fell 11.3% year-on-year to 1.88 million tons in October. The bank believes that, affected by the October golden week holiday and the "double 11" holiday, major breweries made production plans in September in advance, and the temperature in October this year was colder than that in the same period last year, resulting in the production volume in October falling short of market expectations.
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