Dongwu Securities released a research report saying that since July '26, milk prices have risen slightly from the bottom, driven by seasonal factors such as heat stress/alfalfa harvesting season/peak demand season. Following a moderate rise in milk prices, leading dairy companies will benefit from an improvement in the supply pattern, as reflected in price recovery and cost optimization, etc., and the profits of joint farm farms will also improve. Q3 revenue growth in various categories, such as beverages, snacks, condiments, and liquor, all showed pressure, as reflected in the reports of listed companies; secondly, extreme weather also had an impact on beverage sales.

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