CITIC Securities: It is expected that the paper industry will bottom out and improve in 2026, while the metal packaging industry will usher in spring.

CITIC Securities released its 2026 annual strategy research report on the light industry manufacturing sector, stating that in the first to third quarters of 2025, the revenues and profits of the light industry sector came under pressure, but the paper and packaging printing sectors were the first to recover, in line with CITIC Securities' mid-year assessment. Looking ahead to 2026, "anti-internal competition", innovation, and international expansion will become the main themes of the light industry sector's development. In the domestic market, "anti-internal competition" is the main theme, with the paper industry expected to see bottoming out improvement and the metal packaging industry welcoming spring. AI technology will inject new vitality into the industry, and new potential in traditional tracks should also be noted, such as IP consumption, cross-border integration of products, and functional upgrades; in the international market, capacity expansion will enter the stage of efficiency improvement, with brands that have cost-effective advantages and technological advantages becoming a top priority for international expansion.