Investment Recommendations - The article suggests that downstream brands are entering a new product lifecycle, which is expected to improve the outlook for the midstream supply chain. Companies that are proactively establishing overseas bases and ramping up production capacity are recommended for their potential to contribute to profit elasticity in 2026 [1]. Brand Performance - Emerging brands are experiencing significant sales growth, with Owala brand's online sales on Amazon North America showing year-on-year increases of +147% in November 2025, +321% in December 2025, and +449% in January 2026. This growth helps offset the sales decline of the Stanley brand, with combined online sales for Owala and Stanley showing year-on-year growth of +27% in October 2025, +30% in November 2025, +57% in December 2025, and +23% in January 2026 [1]. - Owala's success is attributed to its differentiated product upgrades and marketing strategies, which are expected to replicate Stanley's successful path. Since the second half of 2024, Owala's sales have been on the rise due to several factors: 1) The FreeSip dual-drink design supports both wide and narrow drinking options; 2) The product price range is primarily around $30, making it more accessible; 3) The brand focuses on collaborations with small KOLs and influencers, emphasizing community and approachable marketing strategies [1].