KWEICHOW MOUTAI(SH:600519) Xin Lang Ji Jin·2025-09-26 02:08Core Viewpoint - The food and beverage sector continues to experience a downward trend, with the Food ETF (515710) showing a slight decline of 0.16% as of the latest update, reflecting poor performance among major consumer goods and liquor stocks [1][2]. Group 1: Market Performance - The Food ETF (515710) opened lower and has been fluctuating at low levels, with a current price of 0.614, down by 0.001 [2]. - Major liquor brands such as Kweichow Moutai, Wuliangye, and Shanxi Fenjiu have also shown slight declines, with Kweichow Moutai and Wuliangye down by approximately 0.72% and 0.59% respectively [1][3]. Group 2: Company Insights - Kweichow Moutai reported a significant increase in terminal sales since September, with a month-on-month growth of about 100% and a year-on-year increase exceeding 20% [1][3]. - Analyst Cai Xuefei noted that Moutai's strong performance in the ultra-high-end segment is attributed to its precise product strategy and adaptation to various consumption scenarios, appealing to younger consumers and high-net-worth individuals [3]. Group 3: Valuation and Investment Opportunities - The food and beverage sector is currently at a low valuation, with the Food ETF's underlying index P/E ratio at 20.27, placing it in the 5.88% percentile of the last decade, indicating a favorable long-term investment opportunity [3][4]. - Analysts suggest that the white liquor sector, having faced demand pressure, may see a recovery in valuations ahead of fundamental improvements, particularly for high-end and resilient regional brands [4][5].