茅台文创新春礼盒亮相！吃喝板块逆市抗跌，食品ETF（515710）近10日吸金近亿元！左侧布局信号已现？

Core Viewpoint - The food and beverage sector demonstrates resilience amid market pullbacks, with the Food ETF (515710) showing a smaller decline compared to major A-share indices [1][7]. Market Performance - As of the market close on December 16, the Food ETF (515710) fell by 0.17%, outperforming the Shanghai Composite Index (-1.11%) and the CSI 300 Index (-1.2%) [1][7]. - Notable declines were observed in consumer goods and certain liquor stocks, with Miao Ke Lan Duo down 2.5%, and several other stocks like Yang Yuan Beverage and Anqi Yeast dropping over 1% [1][7]. Fund Flows - Recent data indicates that the food and beverage sector has seen a capital influx, with the Food ETF (515710) recording net subscriptions of 16.64 million yuan over the last five trading days, and a total of 97.37 million yuan over the past ten days [1][8]. Company Developments - Moutai Culture recently launched a new product for the 2026 Spring Festival, a gift box featuring two bottles of 53% vol 200mL Guizhou Moutai liquor, designed in collaboration with a renowned master [3][9]. - This initiative aims to enhance cultural value and reach younger consumers through multiple platforms, marking a shift from pure product sales to cultural value output in the liquor industry [3][9]. Valuation Insights - The food and beverage sector is currently at a historical low in terms of valuation, with the Food ETF's underlying index PE ratio at 20.25, placing it in the 6.46% percentile over the past decade, indicating a favorable long-term investment opportunity [3][9]. Future Outlook - Guosen Securities suggests that the liquor sector is in a bottoming phase, with low valuations and holdings, and positive signals from both supply and demand sides could act as catalysts for growth [4][10]. - According to Founder Securities, the liquor industry is undergoing a deep cyclical adjustment, with structural opportunities becoming more significant than broad sector opportunities, emphasizing the importance of stable operations and long-term resilience [5][10]. Investment Strategy - The Food ETF (515710) is highlighted as a key investment vehicle, with approximately 60% of its portfolio allocated to leading high-end and mid-range liquor stocks, and nearly 40% to leaders in beverages, dairy, condiments, and beer [5][11].