The food and beverage sector performed strongly today (May 25). The Food and Beverage ETF Huabao (515710), which reflects the overall trend of the food and beverage sector, opened with a brief dip before quickly surging. The intraday price reached a maximum increase of 1.38%, slightly retreating in the afternoon. By market close, it rose 0.59%.
In terms of constituent stocks, both baijiu and consumer staples showed impressive performance. By the close, Lianhua Holdings, Jinhuijiu, and Andeli all hit the daily limit up. Jinzhongzijiu and Yingjiagongjiu both rose over 4%, while Jinshiyuan, Kouzijiao, and Bairun Co., Ltd. among others gained over 3%.
On the news front, on May 20, Moutai Health Wine Company officially launched the "Weishu" brand. Its first product, Weishu Wine (Houttuynia cordata), debuted in a 105ml small bottle with a low 27-degree alcohol content and was simultaneously launched on its Douyin flagship store. This sauce-flavored herbal wine, using Houttuynia cordata as its herbal ingredient, targets consumers aged 25 to 35, emphasizing "light experience," "self-indulgent consumption," and "emotional value." Moutai Group Chairman Chen Hua personally attended the launch, positioning "Weishu" as a concrete practice of the strategic shift from "selling wine" to "selling a lifestyle."
Analysis points out that for a long time, Moutai's core products have focused on high-end gifting, business banquets, and collection investment. This new product targets the 25-35 age group, aligning closer with daily public consumption and expanding its reach among younger consumers.
Hualong Securities notes that the baijiu industry is currently in a phase of accelerated consolidation, showing a development trend of "overall pressure but structural optimization," with market share continuously concentrating towards advantageous brands and enterprises. Along with the sustained recovery and improvement of the macroeconomy, stabilizing policy environment, continuous strengthening of various industrial support policies, and the release of emerging consumption potential, the industry may gradually enter a recovery phase after the adjustment period. In the medium to long term, the industry is expected to return to a healthy development track aligned with the scale of market economic development.
From a valuation perspective, the food and beverage sector remains at a low valuation level. Data shows that as of the previous trading day's close (May 22), the price-to-earnings ratio of the SSE Food and Beverage Sub-Index, tracked by the Food and Beverage ETF Huabao (515710), was 20.78 times, positioned at the low 13.33% percentile over the past decade, highlighting its medium to long-term allocation appeal.
Looking ahead, China Securities (CSC) points out that the baijiu industry is expected to enter a phase of bottoming and stabilization in 2026, with the sector gradually clearing and recovering. Wuliangye held an extraordinary shareholders' meeting, finalizing share repurchase and cancellation, and a billion-yuan level dividend plan, combined with share buybacks forming a triple support, aiming for double-digit performance growth for the year. Moutai completed its second round of price adjustments for non-standard products this year, with slight price increases on several high-end items, steadily advancing market-oriented pricing reforms, rationalizing the product price system, and highlighting the value of its premium brand. In the first quarter, many liquor companies saw revenue turn positive, and leading stocks showed impressive dividend yields, indicating the industry may be at a decade-cycle bottom.
For one-stop allocation to core assets in the food and beverage sector, focus on the Food and Beverage ETF Huabao (515710). According to China Securities Index Co., Ltd., the Food and Beverage ETF Huabao (515710) tracks the CSI SSE Food and Beverage Sub-Index, with baijiu leaders accounting for nearly 60% of its holdings. Its top ten holdings include "Moutai, Wuliangye, Luzhou Laojiao, Fenjiu, Yanghe," Yili Industrial Group Co., Ltd., and Foshan Haitian Flavouring & Food Company Ltd. Off-exchange investors can also access core assets in the food and beverage sector through the Food and Beverage ETF Link Fund (Class A 012548, Class C 012549).
Note: When subscribing for or redeeming fund shares, subscription/redemption agents may charge a commission of up to 0.5%, which includes fees charged by stock exchanges, registration institutions, etc. For detailed fund fee rates, please refer to the fund's legal documents.
Source: Shanghai and Shenzhen Stock Exchanges, etc., as of May 25, 2026. Reminder: Recent market volatility may be significant; short-term gains or losses do not predict future performance. Investors must make rational investment decisions based on their own financial situation and risk tolerance, paying high attention to position and risk management.
Institutional views sourced from: Hualong Securities research report dated May 22, "Catering Supply Chain Moderately Recovers, Baijiu Bottoming and Continued Clearing"; China Securities (CSC) research report dated May 24, 2026, "Off-Season Demand Stable, Cherish Mis-killed Opportunities."
Risk Disclosure: The Food and Beverage ETF Huabao passively tracks the CSI SSE Food and Beverage Sub-Index. The base date for this index is December 31, 2004, and it was published on April 11, 2012. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its backtested historical performance does not indicate future index performance. Individual stocks mentioned herein are solely for the objective presentation and listing of index constituents, not as recommendations for any individual stock, and do not represent the investment direction of the fund manager or the fund. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any form to readers, and no liability is assumed for any direct or indirect losses arising from the use of this content. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Summary," and other fund legal documents to understand the fund's risk-return characteristics and choose products suitable for their own risk tolerance. The fund's past performance does not predict its future performance, and the performance of other funds managed by the fund manager does not guarantee the performance of this fund. According to the fund manager's assessment, the Food and Beverage ETF Huabao has a risk rating of R3 - Medium Risk, suitable for Balanced (C3) and above investors. The suitability matching opinion is subject to the sales institution. Sales institutions (including the fund manager's direct sales agencies and other sales agencies) assess the risk of the above funds according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. Suitability opinions from various sales institutions may not necessarily be consistent, and the fund product risk rating results issued by fund sales institutions shall not be lower than the risk rating results issued by the fund manager. There may be differences in the fund's risk-return characteristics and risk rating between the fund contract and fund risk rating due to different considerations. Investors should understand the fund's risk-return situation, combine it with their own investment objectives, horizon, experience, and risk tolerance to prudently select fund products and bear the risks themselves. The China Securities Regulatory Commission's registration of the above funds does not indicate a substantive judgment or guarantee of their investment value, market prospects, or returns. Fund investment involves risk.
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