10月17日，指数走弱，创业板指下挫跌逾1.00%，沪指跌0.18%，深成指跌0.78%。食品饮料板块盘中活 跃，电子板块震荡走低。 据第一财经，商务部新闻发言人何咏前16日在例行新闻发布会上表示，相关数据显示，今年国庆假期期 间，全国服务消费相关行业日均销售收入同比增长7.6%。 此外，据智通财经，苹果公司正筹备推出搭载触控屏的Mac电脑，新款MacBook Pro将配备触控显示 屏、更轻薄机身以及M6系列芯片。触控屏版MacBook Pro预计将于2026年末或2027年初发布，由于采用 成本更高的组件，其售价可能较当前版本高出数百美元。 国信证券指出，看多食品饮料板块。目前板块呈现"低基数、低持仓、低预期"的特点，任何供需两端的 变化均有可能催化股价上行，近期外需风险增加，我们认为内需弹性板块或率先回暖，推荐三季报预期 业绩高增板块，比如零食、饮料、速冻食品等。 财通证券表示，随着核心客户新品发布叠加消费电子进入传统旺季，我们预计立讯精密、歌尔股份、蓝 思科技等标的3Q2025业绩保持平稳增长。随着AI模型能力提升，端侧AI落地前景边际向好，有望成为 产业链相关标的重要成长动能，业绩的边际向上亦将对预期 ...

生物医药ETF（159859）涨0.70%，实时成交额突破5000万元，居同标的之首；成分股中，迪哲医药-U 涨超5%，百利天恒、荣昌生物、药明康德等涨幅靠前。值得关注的是，据Wind数据，生物医药ETF （159859）已连续三日（10月13日—15日）获资金净流入，累计超8500万元。 10月16日，A股三大指数盘中震荡飘红，医药生物、食品饮料等板块涨幅居前。热门ETF中，食品饮料 ETF天弘（159736）涨0.28%冲击五连阳，盘中频现溢价交易；成分股方面，古越龙山涨超4%，汤臣倍 健、金达威、新诺威等个股跟涨。 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）。 生物医药ETF（159859）紧密跟踪生物医药指数。国证生物医药指数以A股市场属于生物医药产业相关 上市公司为样本空间，根据市值规模和流动性的 ...

Group 1 - The Tianhong Food and Beverage ETF (159736) experienced a fluctuating trading session on October 14, with a rise of 0.28% and a trading volume exceeding 7.8 million yuan, alongside a net subscription of 2 million shares [1][3] - Over the past 10 trading days, the Tianhong Food and Beverage ETF has seen net inflows of funds on 9 occasions, accumulating over 150 million yuan [3] - The ETF closely tracks the CSI Food and Beverage Index, which selects stocks from the beverage, packaged food, and meat industries, and also includes off-market connecting funds [3] Group 2 - Recent reports indicate that the price of Feitian Moutai (loose bottle) increased by 5 yuan to 1,765 yuan per bottle, while the original Moutai price rose by 15 yuan to 1,795 yuan per bottle [4] - During the recent holiday period, overall sales of white liquor declined by 20%-30%, aligning with market expectations, although top brands like Moutai and Wuliangye performed relatively well [4] - National Sea Securities suggests that recent policy measures may improve macroeconomic expectations and enhance both valuation and performance in the food and beverage sector, which currently has low valuations [4]

消息面上，据证券时报，进入8月份，随着前期一系列市场措施的落地见效，以及传统双节临近的需求 驱动，市场终端动销环比增长态势明显。9月以来，贵州茅台酒终端动销增长表现更加显著，环比增长 约1倍，同比增长超20%。 9月30日，食品饮料ETF天弘（159736）盘中走势震荡，截至发稿跌0.42%，溢折率0.04%，盘中频现溢 价交易。成交额超1400万元，Wind数据显示，该ETF盘中获净申购5400万份。成分股中，金达威涨超 6%，安德利、粤桂股份、ST绝味、东鹏饮料涨超2%。 资金流向上看，Wind数据显示，食品饮料ETF天弘（159736）已连续10个交易日获资金净流入，累 计"吸金"近1.8亿元；截至9月29日，该ETF最新流通份额76.34亿份，最新流通规模55亿元。 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。此外，食品饮料ETF天弘（159736）还配 置了场外联接基金（A: 001631；C: 001632）。 中信证券表示：本轮行业基本面底有望出现在2025年三季度，预计今年三季度是行业 ...

Group 1: Food and Beverage ETF Performance - The Tianhong Food and Beverage ETF (159736) has seen a significant increase, with its tracked index component, Huanlejia (300997), rising by 12.82% as of September 4, 2025 [1] - The latest share count for the Tianhong Food and Beverage ETF reached 7.208 billion, marking a one-year high [1] - The ETF experienced a net inflow of 7.4699 million yuan recently, with a total of 74.0188 million yuan net inflow over the past five trading days, averaging 14.8038 million yuan per day [1] - The price-to-earnings ratio (PE-TTM) of the index tracked by the ETF is currently at 22.4 times, which is in the 9.22% percentile historically, indicating a low valuation [1] Group 2: Personal Consumption Loan Subsidy Policy - The personal consumption loan subsidy policy was officially implemented on September 1, 2025, with an effective period until August 31, 2026, aimed at reducing consumer credit costs and stimulating consumption [2] - The Ministry of Finance indicated that an evaluation of the policy's effectiveness will be conducted after its expiration, with potential for extension or expansion of support [2] Group 3: Insights on the Liquor Industry - According to招商证券, the white liquor industry is undergoing a significant clearing process due to the "ban on alcohol," with second and third-tier companies facing thorough elimination while leading companies show resilience [2] - The report anticipates that the impact of policies on sales will diminish, but consumer power has not yet improved, leading to expected double-digit declines in sales during the upcoming festivals [2] - 中信证券 predicts that the second half of the year may see the steepest decline in performance for most liquor companies, given the industry's underperformance compared to core indices and its valuation being at a three-year low, indicating a potential for rebound [3]

Group 1 - The A-share market showed a strong rebound in the afternoon on September 1, with consumer sectors such as dining, soft drinks, and retail remaining active [1] - The Tianhong Food and Beverage ETF (159736) experienced a slight decline of 0.40% in the afternoon, with a trading volume exceeding 280 million yuan [1] - The Tianhong Food and Beverage ETF has seen a continuous net inflow of funds for nine consecutive days, accumulating over 170 million yuan [2] Group 2 - Major stocks in the Tianhong Food and Beverage ETF include leading companies such as Kweichow Moutai, Yili, Wuliangye, Shanxi Fenjiu, and Luzhou Laojiao [2] - The implementation of the personal consumption loan interest subsidy policy by the Ministry of Finance and the People's Bank of China is expected to positively impact consumer spending [2] - The consumption sector is anticipated to see an increase in valuation as pessimistic expectations have been largely realized following the end of the mid-year report disclosure period [3]