The F&B (Food and Beverage) sector continued its upward trend today (May 21). The Huabao Food and Beverage ETF (515710), which reflects the overall performance of the sector, traded in positive territory, with its on-market price rising by 0.19% at the time of writing.
Among the constituent stocks, at the time of writing, Lianhua Holdings gained over 2%. Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Sichuan Swellfun Co.,Ltd., and Anhui Yingjia Distillery Co.,Ltd. each rose more than 1%. On the downside, Andre Juice Group Co.,Ltd., Yangyuan Zhihui Beverage Co.,Ltd., and Beijing Yanjing Brewery Co.,Ltd. were among the leading decliners, weighing on the sector's performance.
On the news front, on May 20, Wuliangye Yibin Co.,Ltd. announced a plan to repurchase shares through centralized competitive trading. The total repurchase amount is set between 8 billion and 10 billion yuan, with a maximum repurchase price of 153.59 yuan per share. The repurchased shares are expected to account for approximately 1.34% to 1.68% of the company's total share capital and will be used to reduce the company's registered capital.
From a valuation perspective, the F&B sector remains at a low level. Data shows that as of the close yesterday (May 20), the price-to-earnings ratio of the CSI Food and Beverage Sub-Industry Index, tracked by the Huabao Food and Beverage ETF (515710), stood at 21.26 times, positioned at the low end, around the 16.86th percentile over the past decade, highlighting its attractive valuation for medium- to long-term allocation.
Guosen Securities pointed out that the bottom characteristics of the baijiu (distilled spirits) industry are becoming clearer. While it is expected that the financial statement clearance will still take some time, valuations may bottom out ahead in the second half of the year. In the medium term, the sector remains a quality asset with stable cash flows. Leading mass-market consumer goods companies are sending positive signals, reinforcing market confidence. Current expectations are improving first; subsequently, this improvement may further transmit to the fundamentals of the F&B industry through the enhancement of consumer confidence. It is recommended to pay attention to the opportunities for valuation and earnings recovery in the F&B sector throughout the year.
For one-click allocation to core assets in the F&B sector, focus on the Huabao Food and Beverage ETF (515710). According to China Securities Index Co., Ltd., the Huabao Food and Beverage ETF (515710) tracks the CSI Food and Beverage Sub-Industry Index. Holdings of leading baijiu companies account for nearly 60% of the portfolio. The top ten weighted stocks include Kweichow Moutai Co.,Ltd., Wuliangye Yibin Co.,Ltd., Luzhou Laojiao Co.,Ltd., Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Yanghe Distillery Co.,Ltd., Inner Mongolia Yili Industrial Group Co.,Ltd., and Foshan Haitian Flavouring & Food Co.,Ltd. Off-market investors can also access core assets in the F&B sector through the ETF's feeder funds (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 related fees charged by stock exchanges and registration institutions. Please refer to the fund's legal documents for detailed fee information.
Source: Shanghai and Shenzhen Stock Exchanges, etc., as of May 21, 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 high attention to position and risk management.
Risk Warning: The Huabao Food and Beverage ETF passively tracks the CSI Food and Beverage Sub-Industry 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 predict the index's future performance. Individual stocks mentioned in this article are listed solely as objective examples of index constituents and are not recommendations for any specific stock, nor do they represent the investment direction of the fund manager or the fund. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts in this article 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's legal documents such as the "Fund Contract," "Prospectus," and "Fund Product Key Facts Statement" to understand the fund's risk-return characteristics and choose products suitable for their own risk tolerance. A 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 Huabao Food and Beverage ETF has a risk rating of R3 (Medium Risk) and is suitable for Balanced (C3) and above investors. Suitability matching opinions are subject to the sales institution. Sales institutions (including the fund manager's direct sales channels and other sales institutions) assess the risk of the above-mentioned funds according to relevant laws and regulations. Investors should pay timely attention to the suitability opinions issued by the fund manager. Suitability opinions from various sales institutions may not necessarily be consistent, and the risk rating results for fund products issued by fund sales institutions shall not be lower than the risk rating results made by the fund manager. There may be differences between the fund's risk-return characteristics as described in the fund contract and its risk rating due to different considerations. Investors should understand the fund's risk-return profile and choose fund products cautiously based on their own investment objectives, horizon, experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of the above-mentioned 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; these stocks are performing well!
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