Zhongtai Securities: El Niño Prolongs Peak Season + Structural Shift as Core Trends; Medium and Large Packaged Water to See Dual Demand Boost

June to September is already the peak sales season for bottled water throughout the year. Prolonged high temperatures will further boost the demand for medium and large packaged water for household and catering use. Combined with the industry's long-term high growth trend for medium and large-sized packaging, medium and large packaged water will experience double benefits in demand.