Wall Street Analysts Are Neutral on Top Consumer Goods PicksWe maintain Neutral. In China’s K12 sector, we prefer EDU> TAL. Our concern is not TAL's GMV leadership (27.3%, #1) but the quality of profit dollars being generated. The Oct-Nov tracker shows adverse mix shift: the low-margin RMB2-3k tier surged +96% MoM (to 104k units), while premium volume migrated downward—RMB4-5k expanded +42% (to 39k) as >RMB5k contracted -42% (to 21k). This matters due to unit economics asymmetry: educational tablets bundle zero-marginal-cost content (MathGPT, curriculum) with hardware. The RMB3k price gap between tiers cannot be explained by Bill-of-Materials differences—tablet supply chains don't support that hardware cost delta. High-ASP units generate disproportionately higher absolute profit dollars through content leverage.