The food and beverage sector opened higher today (January 9th) and fluctuated upwards. As of writing, the on-market price of the Huabao Food & Beverage ETF (515710), which reflects the overall trend of the sector, has risen by 0.51%.
In terms of constituent stocks, both baijiu and consumer staples performed notably well. As of writing, Lianhua Holdings rose over 2%, while Gujing Gongjiu and Yangyuan Beverage gained over 1%. Kweichow Moutai Co.,Ltd., Wuliangye, Luzhou Laojiao, Yanghe Co., Ltd., and Shanxi Xinghuacun Fen Wine Factory Co., Ltd. also saw modest gains.
On the news front, following the consecutive instant sell-outs of the standard 1499 RMB Moutai, the "i Moutai" platform announced on the 8th the addition of premium Moutai and kilogram Moutai, further expanding its product range. Starting January 9th, consumers can purchase 53% vol 500ml Kweichow Moutai Co.,Ltd. (Premium) daily from 9:09 AM via the "i Purchase" section, with a limit of 6 bottles per user per day, available until the daily allocation sells out. From January 10th, the Feitian 53% vol 1L Kweichow Moutai Co.,Ltd. and the Feitian 53% vol 100ml Kweichow Moutai Co.,Ltd. (i Moutai) gift set will also be available for purchase. Notably, the premium Moutai also sold out instantly on its launch day. It is worth noting that Kweichow Moutai Co.,Ltd. is the top holding of the Huabao Food & Beverage ETF (515710). According to the fund's periodic reports, as of the end of Q3 2025, its portfolio weight was 14.89%.
From a valuation perspective, the food and beverage sector's valuation is at a historical low, potentially presenting a favorable opportunity for early accumulation. Data shows that as of the previous trading day's close (December 31st), the price-to-earnings ratio of the SSE Sub-index for the Food & Beverage Industry, tracked by the Huabao Food & Beverage ETF (515710), was 20.16 times, sitting at a low point within the 5.88th percentile over the past decade, highlighting its cost-effectiveness for medium to long-term allocation.
Looking ahead, China Securities Co., Ltd. pointed out that reviewing the volume and price changes of premium baijiu during 2012-2016, 2016-2021, and 2022-2025, the baijiu industry's "five-bottom phase" (policy bottom, inventory bottom, sell-through bottom, wholesale price bottom, production and sales bottom) resonates with the capital market's "three lows and one high" (low expectations, low valuation, low mutual fund holdings, high dividends). Combined with the recent implementation of market strategies by Kweichow Moutai Co.,Ltd., Wuliangye, and Luzhou Laojiao, and with the Spring Festival peak season approaching, the inflection point of this baijiu adjustment cycle may be near. Capital market expectations are leading the way, suggesting the baijiu sector might offer a cyclical bottom allocation opportunity. For one-click allocation to core assets in the food and beverage sector, focus on the Huabao Food & Beverage ETF (515710). According to China Securities Index Co., Ltd. statistics, the Huabao Food & Beverage ETF (515710) tracks the CSI Sub-Index for the Food & Beverage Industry Theme. It allocates approximately 60% of its holdings to leading premium and sub-premium baijiu stocks, with nearly 40% covering leading stocks in sub-sectors like beverages/dairy, condiments, and beer. Its top ten holdings include the "Mao-Wu-Lu-Fen-Yang" group, Inner Mongolia Yili Industrial Group Co., Ltd., and Foshan Haitian Flavouring & Food Co., Ltd. Off-market investors can also access these core food and beverage assets through the Huabao Food & Beverage ETF Link Fund (Class A: 012548 / Class C: 012549). Image and data source: Shanghai and Shenzhen Stock Exchanges, etc., as of January 9, 2026. Note: The subscription fee rate for Huabao Food & Beverage ETF Link A is: below 1 million RMB, 1%; 1 million RMB (inclusive) to 2 million RMB, 0.6%; 2 million RMB (inclusive) and above, 1000 RMB per transaction. The redemption fee rate is: within 7 days, 1.5%; 7 days (inclusive) to 180 days, 0.5%; 180 days (inclusive) and above, 0%. The redemption fee rate for Huabao Food & Beverage ETF Link C is: within 7 days, 1.5%; 7 days (inclusive) and above, 0%. The sales service fee rate is 0.2%. Risk Warning: The Huabao Food & Beverage ETF passively tracks the CSI Sub-Index for the Food & Beverage Industry Theme. This index has a base date of December 31, 2004, and was published on April 11, 2012. The composition of the index's constituent stocks is adjusted according to its compilation rules; its back-tested historical performance does not indicate future index performance. Individual stocks mentioned herein are listed solely for the objective presentation of index constituents and do not constitute 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, predictions, 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 predictions herein do not constitute investment advice of any form to readers, and Huabao Fund assumes no responsibility for any direct or indirect losses arising from the use of this content. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Key Facts Statement," and other fund legal documents to understand the fund's risk-return characteristics and choose products suitable for 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 constitute a guarantee of the fund's performance. Based on the fund manager's assessment, the Huabao Food & 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 selling institution. Selling institutions (including the fund manager's direct sales agencies and other selling institutions) evaluate the above funds according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. Suitability opinions from various selling institutions may not necessarily be consistent, and the risk rating evaluation results for the fund product issued by fund selling institutions shall not be lower than the risk rating evaluation result made by the fund manager. The description of the fund's risk-return characteristics in the fund contract and its risk rating may differ due to different consideration factors. Investors should understand the fund's risk-return situation, make prudent choices based on their investment objectives, horizon, experience, and risk tolerance, and bear the risks themselves. The China Securities Regulatory Commission's registration of the above funds does not indicate a substantive judgment or guarantee of their investment value, market prospects, or returns. Fund investment involves risks.
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