东吴证券给予重庆啤酒增持评级：乐堡、乌苏韧性增长，税率提升拖累盈利

Group 1 - The core viewpoint of the report is that Chongqing Beer (600132.SH) is given an "overweight" rating due to its resilient growth in the brands Lebao and Wusu, with stable volume and price performance [2] - The gross sales margin continues to improve, although an increase in tax rates has negatively impacted profitability [2] - Both the fundamental and financial conditions are currently at low levels, indicating a need to monitor the subsequent operational pace [2]