The food and beverage sector experienced upward volatility today (April 10). Huabao's Food and Beverage ETF (515710), which reflects the overall performance of the sector, traded in positive territory after opening. As of this report, its price had increased by 0.18%.
Among the constituent stocks, mass-market consumer goods led the gains. By the time of writing, shares of Miaokeland, Kuaijishan, and Tianwei Food had surged over 3%. Some baijiu (Chinese liquor) stocks also performed strongly, with Shuijingfang and Jiugui Liquor rising more than 2%.
Recent news indicates the implementation and expansion of Kweichow Moutai's distribution policy. Retail stores in provinces like Sichuan, Hunan, and Jiangsu have received shipments of related non-standard Moutai products. Reports suggest that in many Moutai stores, products like the kilogram-sized Moutai and Zodiac-themed Moutai sold out instantly upon arrival. Sales of the 100ml mini Moutai, 200ml Moutai, and premium Moutai have been relatively slower, with some stock still available.
Kaiyuan Securities commented that, as an industry leader, the company is providing a clear path for the market-oriented transformation of the sector through measures like channel reforms, price adjustments, and digital operations. In the long term, this is expected to help the entire baijiu industry emerge from its cyclical adjustment phase and achieve higher-quality development.
From a valuation perspective, the food and beverage sector remains at a low level. Data shows that as of yesterday's close (April 9), the price-to-earnings ratio of the Segmented Food Index, which the Huabao Food and Beverage ETF (515710) tracks, was 19.6 times. This places it at the 3.53rd percentile over the past decade, highlighting its attractive valuation for medium to long-term allocation.
Looking ahead, Zhongyou Securities pointed out that in the first quarter of 2026, the baijiu industry is still in a phase of adjustment and consolidation. Performance varies significantly among distilleries and across price segments, with leading premium brands showing greater resilience. Sales for most companies have recovered somewhat from previously pessimistic expectations but remain weaker than the same period last year. The industry's focus is generally on price stabilization, with efforts to control supply, optimize channels to maintain price structures, and develop lower-alcohol products to attract younger consumers. Companies are also advancing channel digitization and flattening, concentrating on actual sales and consumption rates. It is widely believed within the industry that 2026 will be a year of bottoming out, with gradual improvement and recovery expected thereafter.
For a one-stop allocation to core assets in the food and beverage sector, focus on the Huabao Food and Beverage ETF (515710). According to China Securities Index Co., Ltd., this ETF tracks the CSI Segmented Food & Beverage Industry Index, with leading baijiu holdings accounting for nearly 60% of its portfolio. Its top ten holdings include Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Fenjiu, Yanghe, Yili, and Haitian Flavouring. Off-exchange investors can also access these core assets through the ETF's feeder funds (Class A: 012548; Class C: 012549).
Note: For fee details, please refer to the respective fund's legal documents. Source: SSE, SZSE, etc., as of April 10, 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: The Huabao Food and Beverage ETF passively tracks the CSI Segmented Food & Beverage Industry Index. The index's base date is December 31, 2004, and it was launched on April 11, 2012. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its historical backtested performance does not predict future index performance. Individual stocks mentioned are listed solely for the purpose of objectively illustrating the index's constituents and are not recommendations, nor do they represent the investment direction of the fund manager. Any information appearing in this text (including but not limited to individual stocks, commentary, predictions, 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 kind for the reader, and no liability is 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 fund documents to understand the fund's risk-return characteristics and choose products that match their own risk tolerance. The past performance of a fund 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. Based on the fund manager's assessment, the Huabao Food and Beverage ETF carries a risk rating of R3 (Medium Risk) and is suitable for investors with a Balanced (C3) or higher risk profile. Suitability matching opinions are subject to the sales institution. Sales institutions (including the fund manager's direct sales channels and other sales institutions) conduct risk assessments of the aforementioned funds according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. Suitability opinions from different sales institutions may not necessarily be consistent, and the risk rating results for the fund product issued by fund sales institutions shall not be lower than the risk rating result determined by the fund manager. Discrepancies may exist between the fund's risk-return characteristics described in the fund contract and its risk rating due to different consideration factors. Investors should understand the fund's risk-return profile and make prudent choices based on their investment objectives, horizon, experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of these funds does not indicate a substantive judgment or guarantee of their investment value, market prospects, or returns. Fund investment involves risks.
A MACD golden cross signal has formed, and these stocks are performing well.
Comments