先扬后抑，每经品牌100指数5月收涨1.09%

Market Overview - The brand 100 index experienced a slight rebound in May, closing at 1063.57 points with a monthly increase of 1.09% after a long upper shadow in the K-line [1][4] - The index initially rose due to unexpected financial policies and a pause in tariff announcements between China and the US, but later faced adjustments due to weak fundamental data and profit-taking [2][4] Key Performers - Notable weekly gainers included Nongfu Spring and Lao Feng Xiang, both exceeding 4% in weekly growth, while China Mobile saw a market value increase of 568 billion yuan [2][3] - In May, Dongfang Overseas International, China Life Insurance, and China Pacific Insurance had monthly gains exceeding 15%, with Dongfang Overseas leading at 34.05% [4] New Consumption Sector - The new consumption sector remains attractive, with companies like Nongfu Spring benefiting from strong brand recognition and a robust distribution network [5] - Nongfu Spring's tea beverage revenue is projected to surpass bottled water for the first time in 2024, with a compound annual growth rate of over 90% for its Oriental Leaf brand [5] Strategic Developments - Lao Feng Xiang is enhancing its product offerings and channel strategies, focusing on younger demographics and collaborations with popular IPs [6] - Anta Sports is expanding its global presence through the acquisition of the leading outdoor brand, Jack Wolfskin [6] ETF Investment Opportunities - ETFs such as E Fund (513070) and the Hong Kong Consumption ETF (159735) are highlighted as effective tools for investing in the new consumption sector, with significant year-to-date gains [7][10] - The CSI Hong Kong Stock Connect Consumption Theme Index includes major companies like Alibaba, Tencent, and Xiaomi, which collectively account for over 50% of the index weight [10][14] Long-term Outlook - The Hong Kong Stock Connect Consumption Index is expected to provide long-term investment value, reflecting the evolving consumption habits of younger generations and the global expansion of leading new consumption enterprises [14]