As of 13:09 on November 10, the Food ETF (515710) showed strong intraday performance, with its price rising 3.14% and turnover reaching 136 million yuan.
Among its constituent stocks, Shede Liquor, Milkground, and Yanjin Shop stood out with gains of 10.01%, 8.57%, and 8.09%, respectively. In contrast, Dongpeng Beverage underperformed, dropping 0.89%.
Key developments include the Jiangsu Liquor Association setting a revenue target exceeding 100 billion yuan by 2030 for local liquor brands. Meanwhile, baiju sales on Taobao’s ecosystem during Double 11 surged over 50% year-on-year. Kweichow Moutai opened its first cultural experience center in Anhui, Wuliangye reported revenue of 60.945 billion yuan for January-September, and Luzhou Laojiao launched a new zodiac-themed baiju product for the Year of the Horse.
Kaiyuan Securities noted that the baiju sector has entered a deep adjustment phase, with slowing demand affecting manufacturers’ earnings growth. Liquor producers are actively reducing supply to balance the market, though short-term financial reports remain in a clearing phase. However, the sector is approaching a favorable left-side entry zone. For mass-market products, snack foods have become a growth driver due to their suitability for instant consumption, with community stores and e-commerce channels showing significant growth. Health-focused new products are also gaining traction, as industry fundamentals near a bottom and recovery expectations strengthen.
GF Securities highlighted the premiumization trend in Japan’s sake industry, where production fell 75% from 1973 to 2022 but average prices rose 132%, with premium-grade sake gaining market share. Similarly, China’s baiju industry has seen volume declines but price increases since 2016, with mid-to-high-end baiju expected to sustain this trend. Japanese sake’s success with low-alcohol and beverage-style products could offer lessons for China’s baiju and huangjiu producers. Additionally, brands like Dassai have defined premium standards through rice polishing ratios, suggesting China’s baiju industry might adopt quantifiable metrics to stabilize high-end pricing.
The Food ETF (515710) and its feeder funds (Feeder A: 012548, Feeder C: 012549) track the Segmented Food Index, whose top holdings include Kweichow Moutai, Wuliangye, Yili, Luzhou Laojiao, Shanxi Fenjiu, Haitian Flavouring, Dongpeng Beverage, Yanghe Brewery, Jinshiyuan, and Gujing Gongjiu.
Data sources include the Shanghai and Shenzhen stock exchanges and public disclosures.
Risk Disclosure: The above products are issued and managed by fund managers, with selling agencies not responsible for investment, redemption, or risk management. Investors should carefully review fund documents such as the Fund Contract and Prospectus to understand risk-return profiles and select products matching their risk tolerance. Past performance does not predict future results, and fund investments carry risks. Sales agencies assess fund risks per regulations, but investors should note that risk evaluations may differ among institutions and cannot be lower than the fund manager’s assessment. Fund contracts may define risk levels differently based on varying factors. Investors must evaluate risk-return characteristics and make independent decisions. The CSRC’s registration of these funds does not guarantee their investment value, market prospects, or returns. Invest with caution.
MACD golden cross signals emerge as select stocks rally sharply.
For comprehensive insights, download the Sina Finance app.
Comments