Xin Lang Cai Jing·2026-01-09 06:31Core Viewpoint - The food and beverage sector is experiencing a slight recovery, with the Huabao Food and Beverage ETF (515710) showing a price increase of 0.17% as of the latest update, indicating a positive trend in the market [1][8]. Group 1: Market Performance - The food and beverage ETF Huabao (515710) has seen a price increase of 0.17%, reflecting overall sector performance [1][8]. - Key stocks in the sector include Yangyuan Beverage, which surged over 4%, and other major players like Yili and Lianhua Holdings, which rose over 1% [1][8]. - Leading liquor brands such as Kweichow Moutai, Wuliangye, and Yanghe also showed slight gains, contributing to the positive sentiment in the market [1][8]. Group 2: Industry Outlook - Open-source securities indicate that after experiencing policy shocks and rapid price declines, leading liquor companies like Moutai and Wuliangye have implemented market-oriented adjustment plans, suggesting that the liquor industry is nearing a bottom [10]. - Pacific Securities highlights that recent important meetings have prioritized boosting domestic demand, with expectations for further policies to stimulate demand recovery [10]. - The valuation of the food and beverage sector is currently at historical lows, with the food index's price-to-earnings ratio at 20.16, placing it in the 5.88% percentile of the last decade, indicating a favorable long-term investment opportunity [10]. Group 3: Investment Strategy - CITIC Construction points out that the current phase of the liquor industry, characterized by low prices and low expectations, may present a cyclical bottom for capital market investments [11]. - The Huabao Food and Beverage ETF (515710) tracks a specialized index with approximately 60% of its portfolio in leading high-end and mid-range liquor stocks, and nearly 40% in beverage, dairy, seasoning, and beer stocks [11]. - Investors can also consider the Huabao Food and Beverage ETF linked funds (Class A 012548/Class C 012549) for exposure to core assets in the food and beverage sector [11].