This year, I mainly subscribed to shares of Lao Feng Xiang Gold, Midea and CAROTE. I was particularly looking forward to China Resources Beverage, which was likely to be the fourth major IPO subscription. But now I've changed my subscription strategy. Here are the main reasons: 1. Competitive landscape. Many people don't have a concrete impression of China Resources Beverage. But if we mention "C'estbon" bottled water, everyone should be familiar. Let me post a picture. Simply put, China Resources Beverage is the company selling the products shown in the picture above. Their main product is the "packaged drinking water" circled in red. The market for "packaged drinking water" faces intense homogeneous competition...