Guotai Junan Securities: The market will gradually focus on the recovery space of the beverage sector. Leading companies may demonstrate strong performance resilience.

China Galaxy Securities released a research report stating that, in summary, the adjustment in the beverage industry since February under cost pressures has been quite pronounced, with stock prices, performance, and PE ratios all reflecting this. Looking ahead, the bank believes that as the peak of cost pressures such as crude oil gradually passes, the market will gradually focus on the recovery potential of the sector, particularly with some excellent leading beverage companies potentially demonstrating strong performance resilience. In terms of pace, the focus will be on catalyzing sales during the peak season from June to August, as well as on interim performance and cost outlook for the second half of 2026 and locking in prices for the next year.