2 1 Shi Ji Jing Ji Bao Dao·2025-09-18 06:36Group 1 - The stock indices weakened on September 18, with the Shanghai Composite Index dropping over 1.00%, the Shenzhen Component Index down 0.78%, and the ChiNext Index falling 1.13% [1] - The Tianhong Food and Beverage ETF (159736) saw a decline of 1.08% with a trading volume exceeding 24 million yuan, while it recorded a net subscription of 10 million units during the session [1] - The Tianhong Food and Beverage ETF attracted a net inflow of over 25.28 million yuan yesterday and accumulated 37.23 million yuan in the past five trading days [1] Group 2 - The Tianhong Food and Beverage ETF closely tracks the CSI Food and Beverage Index, which covers essential sectors such as liquor, beverages, and food, with leading stocks including Kweichow Moutai (600519), Wuliangye (000858), and Yili (600887) [1] - The index is relatively diversified, with a low concentration of the top constituent stocks, and over 50% of the market capitalization is represented by the top stocks [1] - Tianhong Fund indicated that the CSI Food and Beverage Index has high elasticity and stronger resistance to single industry fluctuations, making it suitable for long-term investment in consumption upgrades [1] Group 3 - The State Council's recent policy measures aim to expand service consumption, focusing on 19 specific tasks that combine improving livelihoods with stimulating demand [2] - The Ministry of Culture and Tourism announced the launch of a three-year action plan for cultural and tourism consumption, which includes issuing over 330 million yuan in consumption subsidies during the consumption month [2] Group 4 - According to Minsheng Securities, the liquor industry is transitioning from "passive clearance" to "active adjustment," indicating an accelerated bottoming phase [3] - The liquor industry faced challenges due to macroeconomic slow recovery, high inventory cycles, and strict regulations, leading to a negative year-on-year performance in the second quarter [3] - Positive signals are emerging as demand from events like graduation parties is being released, and the upcoming Mid-Autumn Festival and National Day are expected to accelerate the industry's bottoming process [3]