The food and beverage sector moved against the broader market's weakness today (August 24), with major baijiu leaders rallying in tandem and several consumer staples names posting notable gains. As of the time of writing, Andeli hit its daily limit, Kuajishan and Yingjia Gongjiu each climbed over 3%, and Kweichow Moutai Co.,Ltd. advanced more than 2%, while Luzhou Laojiao, Shanxi Fenjiu, Yili Shares, and Gujing Gongjiu all gained over 1%.
On the news front, according to an update from the "i Moutai" platform, daily distribution windows for Kweichow Moutai products on the app have been optimized to better align with consumer purchasing habits. Starting from 9:00 AM on August 24, in addition to the existing evening release slots at 8:00 PM and 8:09 PM, two new morning windows at 9:00 AM and 9:09 AM have been introduced, with product purchase rules remaining unchanged.
Analysts note that previously, "i Moutai" maintained only the dual evening distribution slots, with the platform's nearly 30 million active users all converging on the same fixed windows for purchases. This single-slot system led to severe traffic congestion, leaving the vast majority of users facing persistent "sold out in seconds" failures and an intensely competitive scramble. The addition of morning distribution slots now doubles the number of daily purchase opportunities, effectively diverting user traffic and fulfilling the platform's stated goal of "adapting to mass consumer demand."
From a valuation perspective, the food and beverage sector remains at historically low levels. Data shows that as of last trading day's close (August 21), the benchmark index of the Huabao Food & Beverage ETF (515710) - the CSI Sub-Food & Beverage Industry Index - traded at a price-to-earnings ratio of 19.93 times, sitting at just the 7.45th percentile of its valuation range over the past decade (source: Wind). This underscores the compelling value proposition for medium-to-long-term allocation.
Looking ahead, Guojin Securities expresses optimism, stating that the baijiu industry's pressures on sales velocity, pricing, and reported financials are all progressively improving from their lowest points. The brokerage favors the sector's fundamentals showing sequential improvement momentum. Currently, valuation bellwether Kweichow Moutai Co.,Ltd. trades at roughly 20 times earnings, while other leading liquor companies sit around 15 times - levels that already price in current industry conditions and relatively cautious recovery expectations. Over the medium term, earnings-per-share growth and industry profitability recovery should provide return drivers.
For investors seeking one-stop exposure to the food and beverage sector's core assets, the Huabao Food & Beverage ETF (515710) warrants attention. According to China Securities Index Company statistics, this ETF tracks the CSI Sub-Food & Beverage Industry Theme Index, with leading baijiu stocks accounting for nearly 50% of its holdings. Off-market investors can also participate through the Food & Beverage ETF feeder funds (Class A: 012548, Class C: 012549) to position in core sector assets.
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Risk Disclosure: The Huabao Food & Beverage ETF passively tracks the CSI Sub-Food & Beverage Industry Theme Index, which has a base date of December 31, 2004, and was published on April 11, 2012. The sub-food & beverage index's returns over the past five full calendar years were: 2025: -11.63%; 2024: -6.12%; 2023: -19.84%; 2022: -15.27%; 2021: -8.3%. Its volatility over the same periods was: 2025: 13.51%; 2024: 37.1%; 2023: 20.98%; 2022: 29.22%; 2021: 34.04%. Index constituent stocks are adjusted periodically according to index methodology, and back-tested historical performance does not indicate future index returns. Individual stocks mentioned herein are solely objective displays of index constituents and do not constitute stock recommendations, nor do they represent the fund manager's or the fund's investment direction. Any information appearing in this article (including but not limited to stocks, commentary, forecasts, charts, indicators, theories, or any form of expression) is provided for reference only. Investors must bear full responsibility for their own independent investment decisions. Furthermore, any views, analyses, or forecasts herein do not constitute investment advice to readers, and the company assumes no liability for direct or indirect losses arising from the use of this content. Investors should carefully read the Fund Contract, Prospectus, Fund Product Summary, and other fund legal documents to understand the fund's risk-return characteristics and select products appropriate to their own risk tolerance. Past fund performance does not indicate future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. According to the fund manager's assessment, the Huabao Food & Beverage ETF carries a risk rating of R3-medium risk, suitable for balanced (C3) and above investors; suitability opinions should be confirmed with sales institutions. Sales institutions (including the fund manager's direct sales outlets and other distributors) conduct risk evaluations of the above funds in accordance with relevant laws and regulations. Investors should promptly review the suitability opinions issued by the fund manager; suitability opinions from various sales institutions may not necessarily be consistent, and risk rating results issued by fund sales institutions may not be lower than those issued by the fund manager. Differences exist between risk-return characteristics stated in the fund contract and fund risk ratings due to varying consideration factors. Investors should understand the fund's risk-return profile and carefully select fund products based on their own investment objectives, time horizon, experience, and risk tolerance, assuming their own risks. Registration of the above funds with the China Securities Regulatory Commission does not imply substantive judgment or guarantees regarding investment value, market prospects, or returns. Fund investing requires caution.
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