Inner Mongolia Yili Industrial Group Co Ltd (600887) - Comprehensive analysis
Among Consumer Defensive sectors, we favor the China brewery industry over the China dairy sector due to our expectation of a quicker earnings recovery for beer brewers compared to dairy producers. We believe that Yili and other prominent dairy producers need to adapt their products and distribution channels to align with the evolving consumption trends of dairy products in China. While we still consider Yili to be undervalued, we anticipate that the brewers will experience a faster rebound.
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