KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2026-01-05 11:45Core Viewpoint - The food and beverage sector experienced a strong start in 2026, with the Huabao Food and Beverage ETF (515710) showing significant gains, particularly in leading liquor stocks like Kweichow Moutai and Wuliangye [1][9]. Group 1: Market Performance - On January 5, 2026, the Huabao Food and Beverage ETF opened with a maximum intraday increase of 1.71% and closed up by 1.54% [1][9]. - Major liquor stocks saw substantial increases, with Kweichow Moutai rising by 3.54%, Shanxi Fenjiu by 3.08%, and others like Wuliangye and Luzhou Laojiao increasing by over 1% [1][9]. - Popular consumer products also performed well, with Yanjing Beer and Dongpeng Beverage both rising over 4% [1][9]. Group 2: Company Insights - Kweichow Moutai is the largest holding in the Huabao Food and Beverage ETF, accounting for 14.89% of the fund's assets as of Q3 2025 [3][11]. - The launch of the "i Moutai" platform has significantly increased consumer engagement, with the app reaching over 300 million installations and ranking high in app store charts [2][11]. Group 3: Valuation and Investment Strategy - The food and beverage sector is currently at a historical low in terms of valuation, with the price-to-earnings ratio of the underlying index at 19.75, placing it in the 2.94% percentile over the past decade, indicating a favorable long-term investment opportunity [4][12]. - Analysts suggest that the white liquor industry is nearing a bottom, with expectations for a rebound in 2026, supported by recent market adjustments from leading companies [5][13]. - The current consumer environment is seen as a strategic opportunity for the food and beverage sector, benefiting from policies aimed at boosting domestic demand [14].