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<Research>CLSA Expects Continued Pressure on CN Consumption This Yr, Favors Baijiu/ Beverage Sectors
Recommend 6 Positive 7 Negative 3 |
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CLSA anticipated that China's overall consumption will continue to face pressure in 2026, although there are potential opportunities for a rebound. In terms of sub-sectors, the broker believed that the baijiu segment may rebound in 2Q26 based on relaxed policies, though long-term prospects remain weak. Regarding individual companies, CLSA saw potential for a rebound for CR BEVERAGE (02460.HK) this year, while companies with higher growth or excellent earnings will continue to be favored by the market. The broker preferred sectors with rebound opportunities, such as baijiu, and sectors with stronger growth resilience, such as beverage, pet food, and education. CLSA's top picks are WULIANGYE (000858.SZ)/ New Oriental Education & Technology(EDU.US)/ CR BEVERAGE/ CHINA PET (002891.SZ), with target prices of RMB141/ US$68.8/ $13.7/ RMB70.3 each, with all of which rated at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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