The food and beverage sector showed strong performance today (March 13). Huabao Food and Beverage ETF (515710), which reflects the overall trend of the sector, continued to trade in positive territory, with its intraday price rising over 1% at its peak. As of writing, the ETF is up 0.89%.
Among the constituent stocks, consumer staple stocks led the gains, with several leading liquor companies also performing notably. As of writing, Jinhe Industrial and Chongqing Brewery both surged over 3%, while Zhongju High-tech and Tianwei Foodstuff rose more than 2%. Kweichow Moutai, Luzhou Laojiao, and Shanxi Fenjiu were also among the top gainers.
On the news front, Luzhou Laojiao stated on its investor relations platform on March 12 that the company's overall sales during the Spring Festival peak season met expectations. Its high-end product, National Cellar, maintained its brand value with stable pricing, and channel confidence continues to recover. The low-alcohol National Cellar, a core product balancing scale and volume, aligns with modern consumption trends and shows strong demand across various scenarios. Benefiting from robust demand for holiday self-consumption and family banquets, products in the 100-300 yuan price range demonstrated faster sales velocity.
Changjiang Securities pointed out that the overall demand in the food and beverage industry remains steady. As an important sub-sector, the structural opportunities in baijiu are worth watching. The industry currently shows a divergence trend, with high-end liquor companies exhibiting relative resilience and outstanding advantages in brand and channels.
From a valuation perspective, the food and beverage sector remains at a low level. Data shows that as of the close yesterday (March 12), the price-to-earnings ratio of the Segmented Food Index, which the Huabao Food and Beverage ETF (515710) tracks, was 19.37 times, situated at the 1.76th percentile over the past decade, highlighting its medium- to long-term allocation appeal.
Looking ahead, Wanlian Securities stated that the food and beverage industry is expected to focus on bottoming out and recovery by 2026. Meanwhile, due to demand recovery, cost improvements, and industry divergence, structural investment opportunities exist. The firm recommends focusing on: (1) leading baijiu companies with channel inventories expected to normalize by 2026, featuring low valuations and high dividends; (2) leaders in beer, condiments, and dairy benefiting from demand recovery and cost improvements; (3) leading frozen food companies with easing price competition that are actively embracing new channels; and (4) soft drink leaders with competitive advantages in the high-growth functional beverage segment.
For one-stop access to core assets in the food and beverage sector, focus on Huabao Food and Beverage ETF (515710). According to China Securities Index Co., Ltd., the ETF tracks the CSI Segmented Food & Beverage Industry Index, with leading baijiu holdings accounting for nearly 60% of the portfolio. Its top ten holdings include Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Fenjiu, Yanghe Co., Ltd., Inner Mongolia Yili Industrial Group, and Foshan Haitian Flavouring & Food Co., Ltd. Off-exchange investors can also gain exposure to the sector's core assets through the ETF's feeder fund (Class A: 012548 / Class C: 012549).
Note: When subscribing for or redeeming fund shares, subscription and redemption agents may charge a commission of up to 0.5%, which includes relevant fees charged by stock exchanges and registration institutions. For detailed fund fee schedules, please refer to the fund's legal documents.
Source: Shanghai and Shenzhen Stock Exchanges, data as of March 13, 2026. Reminder: Recent market volatility may be significant; short-term gains or losses do not indicate future performance. Investors must make rational investment decisions based on their own financial situation and risk tolerance, paying close attention to position and risk management.
Risk Warning: Huabao Food and Beverage ETF passively tracks the CSI Segmented Food & Beverage Industry Index. The index has a base date of December 31, 2004, and was published on April 11, 2012. The index's constituent stocks are adjusted according to its compilation rules, and its past performance does not indicate future results. Individual stocks mentioned are listed solely as objective examples of index constituents and are not stock recommendations, nor do they represent the investment direction of the fund manager. All information appearing herein (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors are solely responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any form to the reader, and no liability will be accepted for any direct or indirect losses resulting from the use of this content. Investors should carefully read the Fund Contract, Prospectus, Fund Product Summary, and other 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 results, and the performance of other funds managed by the fund manager does not guarantee this fund's performance. According to the fund manager's assessment, Huabao Food and Beverage ETF carries a risk rating of R3-Medium Risk and is suitable for Balanced (C3) and higher investor types. Suitability matching opinions are subject to the sales institution. Sales institutions (including the fund manager's direct sales arm and other sales institutions) assess the risk of the above fund according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions provided by the fund manager. Suitability opinions from different sales institutions may not necessarily be consistent, and the risk rating results provided by fund sales institutions for the fund product shall not be lower than the risk rating result given by the fund manager. The description of the fund's risk-return characteristics in the Fund Contract and its risk rating may differ due to different consideration factors. Investors should understand the fund's risk-return profile and cautiously select fund products based on their investment objectives, horizon, experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of the fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns. Fund investment involves risks.
A MACD golden cross signal has formed, and these stocks are performing well.
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