吃喝板块今日（9月25日）再陷回调。反映吃喝板块整体走势的食品ETF（515710）几乎全天单边下 行，截至收盘，场内价格跌0.65%。 成份股方面，白酒跌幅居前，部分大众品亦表现不佳。截至收盘，迎驾贡酒、泸州老窖、酒鬼酒、伊利 股份、洋河股份等多股跌超1%，拖累板块走势。 展望后市，华龙证券表示自二季度以来，白酒需求端持续承压，短期来看，政策的边际影响有望逐渐收 窄，白酒作为前期超跌的板块，预期先行，估值的修复有望先于基本面。建议关注：一是超跌反弹的次 高端白酒；二是具备韧性的区域龙头；三是稳健的高端白酒。 还有机构指出，白酒半年报利空落地，板块仍处于底部整理区间，动销和场景表现依旧疲软，但随着行 业加速去库、政策转暖渠道信心逐步修复。白酒板块逐步进入旺季，茅台官方反馈近期动销环比改善明 显，各家酒企均积极创新产品、寻求渠道改革以保住自身份额，建议重视行业底部配置机会，关注双节 旺季渠道备货和动销端表现。 一键配置吃喝板块核心资产，重点关注食品ETF（515710）。根据中证指数公司统计，食品ETF （515710）跟踪中证细分食品饮料产业主题指数，约6成仓位布局高端、次高端白酒龙头股，近4成仓位 兼顾饮料 ...

证券之星消息，9月25日饮料乳品板块较上一交易日下跌0.38%，佳禾食品领跌。当日上证指数报收于 3853.3，下跌0.01%。深证成指报收于13445.9，上涨0.67%。饮料乳品板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 603156 养元饮品 | | | 721.17万 | 2.84% | 131.45万 | 0.52% | -852.62万 | -3.36% | | 300898 | 能猫乳品 | | 443.65万 | 4.13% | -414.62万 | -3.86% | -29.03万 | -0.27% | | 600597 | 光明乳业 | | 129.26万 | 1.97% | 473.97万 | 7.21% | -603.22万 | -9.17% | | 300997 | 欢乐家 | | 118.44万 | 0.58% | -478.03万 | -2.3 ...

证券之星消息，9月24日饮料乳品板块较上一交易日上涨0.38%，养元饮品领涨。当日上证指数报收于 3853.64，上涨0.83%。深证成指报收于13356.14，上涨1.8%。饮料乳品板块个股涨跌见下表： 从资金流向上来看，当日饮料乳品板块主力资金净流入6305.95万元，游资资金净流出2721.82万元，散户 资金净流出3584.13万元。饮料乳品板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300997 | 欢乐家 | 18.15 | -1.31% | 13.35万 | 2.42 Z | | 600887 | 伊利股份 | 27.41 | 0.11% | 34.54万 | 9.46 亿 | | 300892 | 品屋食品 | 34.92 | 0.23% | 2.66万 | 9288.07万 | | 605337 | 李子园 | 12.49 | 0.32% | 1 5.54万 | 6880.99万 | | 002732 | 草庫到V | 16.61 | 0.36% ...

Market Overview - The beverage and dairy sector experienced a decline of 1.94% on September 22, with Huanlejia leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Individual Stock Performance - Huanlejia (300997) closed at 18.20, down 5.99% with a trading volume of 151,400 shares and a turnover of 283 million yuan [1] - Dongpeng Beverage (605499) closed at 287.85, down 3.84% with a trading volume of 26,500 shares and a turnover of 769 million yuan [1] - Panda Dairy (300898) closed at 27.63, down 3.09% with a trading volume of 44,300 shares and a turnover of 123 million yuan [1] - Junuan Health (605388) closed at 7.71, down 3.02% with a trading volume of 144,800 shares and a turnover of 112 million yuan [1] - Liziyuan (605337) closed at 12.89, down 2.86% with a trading volume of 66,300 shares and a turnover of 85.84 million yuan [1] - Zhuangyuan Pasture (002910) closed at 9.27, down 2.83% with a trading volume of 50,600 shares and a turnover of 47.11 million yuan [1] - Knight Dairy (832786) closed at 10.26, down 2.56% with a trading volume of 76,100 shares and a turnover of 78.86 million yuan [1] - Pinwu Food (300892) closed at 35.86, down 2.40% with a trading volume of 35,500 shares and a turnover of 127 million yuan [1] - Western Pasture (300106) closed at 11.22, down 2.35% with a trading volume of 80,300 shares and a turnover of 90.43 million yuan [1] - New Dairy (002946) closed at 16.91, down 1.97% with a trading volume of 84,100 shares and a turnover of 142 million yuan [1] Capital Flow Analysis - The beverage and dairy sector saw a net outflow of 255 million yuan from institutional investors, while retail investors had a net inflow of 216 million yuan [1] - The sector experienced a net inflow of 39.29 million yuan from speculative funds [1] Individual Stock Capital Flow - Yili Group (600887) had a net inflow of 17.86 million yuan from institutional investors, while retail investors saw a net outflow of 78.97 million yuan [2] - Yangyuan Beverage (603156) had a net inflow of 2.57 million yuan from institutional investors, with retail investors experiencing a net outflow of 5.63 million yuan [2] - Tianrun Dairy (600419) had a net outflow of 0.76 million yuan from institutional investors, while retail investors had a net outflow of 2.20 million yuan [2] - Sanyuan Foods (600429) had a net outflow of 2.32 million yuan from institutional investors, with retail investors experiencing a net outflow of 1.70 million yuan [2] - Xiangpiaopiao (603711) had a significant net outflow of 5.23 million yuan from institutional investors, while retail investors had a net inflow of 4.24 million yuan [2]

Group 1 - The food and beverage sector is experiencing a decline, with the Food ETF (515710) down by 1.43% as of the latest report [1][2] - Major liquor stocks such as Shede Liquor, Jiu Gui Jiu, and Shanxi Fenjiu have seen declines exceeding 2%, while others like Luzhou Laojiao and Kweichow Moutai have dropped over 1% [1] - The overall valuation of the food and beverage sector remains low, with the food ETF's price-to-earnings ratio at 20.74, indicating a favorable long-term investment opportunity [3] Group 2 - The white liquor sector is entering a peak season, with improved sales dynamics reported by Kweichow Moutai, which recently launched a new product [3][4] - Analysts suggest that the upcoming Mid-Autumn Festival and National Day will boost liquor sales, with traditional retailers adapting to new retail models [5] - The white liquor industry is expected to gradually recover, with a focus on inventory and sales performance during the festive season [5] Group 3 - The government has initiated measures to stimulate domestic consumption, particularly in sectors like liquor, beer, snacks, and dairy products [4] - The food ETF (515710) is heavily invested in leading high-end liquor stocks, with approximately 60% of its portfolio allocated to this segment [5]

Market Overview - The beverage and dairy sector increased by 0.14% on September 19, with Tianrun Dairy leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Tianrun Dairy (600419) closed at 10.28, up 1.78% with a trading volume of 87,600 shares and a transaction value of 89.67 million yuan [1] - Dongpeng Beverage (605499) closed at 299.34, up 1.25% with a trading volume of 22,700 shares and a transaction value of 678 million yuan [1] - Yangyuan Beverage (603156) closed at 21.24, up 0.81% with a trading volume of 21,700 shares and a transaction value of 45.78 million yuan [1] - Other notable stocks include Xibu Muye (300106) at 11.49 (+0.70%) and Liziyuan (605337) at 13.27 (+0.53%) [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 157 million yuan from institutional investors, while retail investors saw a net inflow of 138 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Dongpeng Beverage saw a net inflow of 72.40 million yuan from institutional investors, while it experienced a net outflow of 51.02 million yuan from speculative funds [3] - Xibu Muye had a net inflow of 20.37 million yuan from institutional investors, but a net outflow of 2.29 million yuan from retail investors [3] - Tianrun Dairy had a net inflow of 4.29 million yuan from institutional investors, with a net outflow of 5.49 million yuan from retail investors [3]

吃喝板块今日（9月19日）继续回调。反映吃喝板块整体走势的食品ETF（515710）开盘后震荡走弱， 盘中场内价格一度跌近1%，截至发稿，跌0.79%。 成份股方面，白酒、啤酒等板块部分个股跌幅居前。截至发稿，迎驾贡酒、珠江啤酒、水井坊等跌超 2%，酒鬼酒、山西汾酒、口子窖等多股跌超1%。 显，各家酒企均积极创新产品、寻求渠道改革以保住自身份额，建议重视行业底部配置机会，关注双节 旺季渠道备货和动销端表现。 一键配置吃喝板块核心资产，重点关注食品ETF（515710）。根据中证指数公司统计，食品ETF （515710）跟踪中证细分食品饮料产业主题指数，约6成仓位布局高端、次高端白酒龙头股，近4成仓位 兼顾饮料乳品、调味、啤酒等细分板块龙头股，前十权重股包括"茅五泸汾洋"、伊利股份、海天味业 等。场外投资者亦可通过食品ETF联接基金（A类012548/C类012549）对吃喝板块核心资产进行布局。 图片、数据来源：沪深交易所等，截至2025.9.19。 风险提示：食品ETF被动跟踪中证细分食品饮料产业主题指数，该指数基日为2004.12.31，发布于 2012.4.11。指数成份股构成根据该指数编制规则适时调整 ...

Market Overview - On September 18, the beverage and dairy sector declined by 0.98%, with Jiahua Food leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Key stocks in the beverage and dairy sector showed the following closing prices and percentage changes: - Jiahua Food: 13.02, -5.58% - New Dairy: 17.21, -3.10% - Meibu Technology: 25.97, -3.06% - Huangshi Group: 3.82, -2.80% - Junyao Health: 7.98, -2.56% - Western Pastoral: 11.41, -2.48% - Zhuangyuan Pasture: 9.69, -2.42% - Tianrun Dairy: 10.10, -2.32% - Pinwu Food: 36.86, -2.12% - Sanyuan Co.: 4.76, -2.06% [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 1.57 billion yuan from institutional investors, while retail investors saw a net inflow of 2.35 billion yuan [1] - Detailed capital flow for selected stocks includes: - Yili Co.: 36.15 million net inflow from institutions, -51.29 million from retail - Huanlejia: 16.11 million net inflow from institutions, -8.34 million from retail - Yangyuan Beverage: 6.44 million net inflow from institutions, -7.84 million from retail - Tianrun Dairy: 5.37 million net inflow from institutions, -0.28 million from retail - Bright Dairy: 3.31 million net inflow from institutions, 2.98 million from retail [2]

Investment Rating - The report assigns an "Accumulate" rating for the company [2] Core Insights - The company focuses on the high-potential coconut water sector, with its brands if and Innococo showing synergistic development. It holds the largest market share in mainland China and is expected to benefit from industry expansion and competitive advantages in Thailand's supply chain, leading to high growth in future earnings [6][7][8] Company Overview - The company was founded in Thailand and has become a leader in the coconut water market in mainland China. It has expanded its market presence since 2013 and has maintained a leading position in the Hong Kong and mainland markets [18][19] - The company operates primarily in the coconut water segment, with if coconut water being its flagship brand, contributing significantly to revenue and growth. Innococo, launched in 2022, is expected to become a second growth curve [8][25] - The company has a concentrated ownership structure, with the founder holding over 60% of the shares, ensuring strong management and operational stability [20][21] Financial Performance - The company is projected to achieve net profits of 38, 55, and 71 million USD for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 14.7%, 44.2%, and 28.4%. The earnings per share (EPS) are expected to be 0.1, 0.2, and 0.3 USD for the same years [6][10] - The company reported a total revenue of 158 million USD in 2024, with a year-on-year growth of 80.3%. The revenue from coconut water is expected to reach 150 million USD, accounting for 97.5% of total revenue [10][30] Industry Insights - The coconut water market is experiencing rapid growth, with a compound annual growth rate (CAGR) of 82.9% from 2019 to 2024 in mainland China. The market is expected to continue expanding at a rate of 20.2% from 2024 to 2029, reaching a size of 2.55 billion USD by 2029 [7][51] - The global coconut water market is projected to grow at a CAGR of 11.1% from 2024 to 2029, with the market size expected to reach 8.5 billion USD by 2029 [37][41] - The company benefits from a robust supply chain in Thailand, ensuring high-quality and cost-effective raw material supply, which is crucial for maintaining product quality and competitive pricing [9][66][70]

Market Overview - The beverage and dairy sector increased by 0.22% on September 17, with Dongpeng Beverage leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Dongpeng Beverage (code: 6655599) closed at 296.88, up 1.40% with a trading volume of 17,200 lots and a transaction value of 510 million [1] - New Dairy (code: 002946) closed at 17.76, up 1.02% with a trading volume of 72,800 lots and a transaction value of 130 million [1] - Yili Group (code: 600887) remained unchanged at 28.08 with a trading volume of 483,200 lots and a transaction value of 1.358 billion [1] - Bright Dairy (code: 600597) closed at 8.65, down 0.23% with a trading volume of 100,900 lots and a transaction value of 87.26 million [1] Fund Flow Analysis - The beverage and dairy sector experienced a net outflow of 283 million from institutional investors, while retail investors saw a net inflow of 253 million [2] - The main funds showed varying net inflows and outflows across different stocks, with VIVI (code: 600300) seeing a net inflow of 9.9628 million from main funds [3] - New Dairy (code: 002946) had a net outflow of 3.6952 million from main funds, while it attracted a net inflow of 7.8254 million from retail investors [3]