资金流向方面，Wind数据显示，食品饮料ETF天弘（159736）以连续5个交易日获资金净流入，累 计"吸金"超1.35亿元。 食品饮料ETF天弘（159736）紧密跟踪中证食品饮料指数，该指数以中证全指为样本空间，选取归属于 饮料、包装食品与肉类两个行业的上市公司股票作为成分股。十大重仓股包括贵州茅台、伊利股份、五 粮液、山西汾酒、泸州老窖、海天味业等多只大市值龙头股。此外，食品饮料ETF天弘（159736）还配 置了场外联接基金（A: 001631；C: 001632）。 民生证券表示，白酒板块已进入底部配置区间，重视旺季消费脉冲事件的边际催化。进入8月以来，场 景释放和升学宴需求集中释放的背景下，渠道反馈宴席驱动下的开瓶动销环比修复等积极信号。中秋国 庆旺季将加速基本面筑底过程，预计2026年开启报表端修复。 9月23日，A股三大指数午后跌幅震荡收窄，食品饮料板块连续第二日回调。热门ETF中，食品饮料ETF 天弘（159736）截至发稿跌超1.3%，成交额近2000万元。 成分股方面，金字火腿涨停，百润股份、华康股份、百龙创园、欢乐家等多股上涨，白酒股集体下跌。 Wind实时申购赎回信息显示，截至发稿， ...

Core Viewpoint - The report from CITIC Securities indicates that the second half of the year may see the steepest decline in performance for most liquor companies, influenced by the recovery of consumer scenarios, adjustments by leading liquor enterprises, and the status of channel inventory prices [1] Group 1: Industry Performance - The liquor sector has significantly underperformed compared to the HS300 index and other core indices this year [1] - The valuation of the liquor sector is currently at a bottom range not seen in over three years, suggesting a potential for rebound [1] Group 2: Future Outlook - There is a clear trend of gradual recovery in demand, which supports the view of potential bottom-fishing opportunities in the liquor industry [1]