As of 14:24 on November 17, the Food ETF (515710) showed weak intraday performance, with its price down 0.32% and a trading volume of 54.66 million yuan.
Among its constituent stocks, Tianwei Food, Lianhua Holdings, and Kweichow Moutai led gains, rising 2.06%, 1.37%, and 0.65%, respectively. On the other hand, Dongpeng Beverage, Yunnan Energy Investment, and Yanghe Distillery underperformed, declining 3.02%, 2.34%, and 2.33%, respectively.
In industry news, several leading liquor companies within the Food Sub-Index have accelerated their global expansion efforts in November 2025. Yanghe Distillery launched its "Mengzhilan Handmade Edition Global Tour" campaign, introducing its products in the U.S. market, while Wuliangye initiated the "Harmony Global Tour" cultural exchange in Chile. Meanwhile, Kweichow Moutai and Luzhou Laojiao have intensified overseas market research to promote Chinese liquor culture. Additionally, Shanxi Xinghuacun Fenjiu and Jinshiyuan have improved performance through product portfolio optimization, reflecting a competitive landscape among major liquor categories.
Founder Securities noted that October’s CPI turned positive year-on-year and month-on-month, signaling stabilization and recovery in the consumer market, with positive trends emerging in the food and beverage sector. The liquor industry is undergoing inventory reduction, and a rebound is expected in Q4 2025 as demand recovers alongside economic revival. Health-focused snacks, such as konjac-based products, continue to gain traction, benefiting leading players. The restaurant supply chain, having bottomed out, may improve with product optimization and policy support. Dairy demand is gradually recovering, with raw milk prices potentially stabilizing. Beer sales have rebounded but weakened quarter-over-quarter, though cost advantages have supported profitability.
Guosen Securities highlighted that the liquor sector is entering a strategic accumulation phase, with premium brands and regional leaders poised for growth. Kweichow Moutai’s wholesale price stands at 1,690 yuan, down 23% year-on-year, though the decline has narrowed compared to Q3. Seasonal demand may further pressure prices, but the year-on-year drop is expected to stabilize. Beverage sector momentum remains strong, led by sugar-free tea, energy drinks, and large-format packaging. Dairy demand is recovering steadily, with supply gradually adjusting, setting the stage for improved supply-demand dynamics in 2025.
The Food ETF (515710) and its linked funds (Linked A: 012548; Linked C: 012549) track the Food Sub-Index, whose top holdings include Kweichow Moutai, Wuliangye, Yili Group, Luzhou Laojiao, Shanxi Xinghuacun Fenjiu, Haitian Flavouring, Dongpeng Beverage, Yanghe Distillery, Jinshiyuan, and Gujing Distillery.
Data sourced from SSE, SZSE, and public disclosures.
Risk Disclosure: The above products are issued and managed by fund managers, and selling institutions assume no responsibility for investment, redemption, or risk management. Investors should carefully review fund documents, including the Fund Contract, Prospectus, and Key Facts Statement, to understand risk-return characteristics and select products matching their risk tolerance. Past performance does not indicate future results. Fund investments carry risks. Sales agencies (including fund managers’ direct sales channels) evaluate fund risks per regulations. Investors should heed the fund manager’s suitability assessment, noting that risk ratings may vary across agencies but cannot be lower than the manager’s evaluation. Fund contracts may define risk-return profiles differently. Investors must assess risks independently and bear investment decisions accordingly. CSRC registration does not guarantee fund value, market prospects, or returns. Invest with caution.
Comments