NewTimeSpace Report: On February 13, the brewing industry and food & beverage sectors consolidated intraday, building momentum for future moves. Heavyweight stocks including Kweichow Moutai, Wuliangye, and Luzhou Laojiao all delivered standout performances. E Fund CSI Liquor Index ETF (03189.HK) demonstrated notable resilience in early trading, climbing over 1% against the broader market weakness.

Data from HKEX shows that this fund is Hong Kong's first exchange-traded fund dedicated exclusively to mainland China's baijiu (white liquor) industry, closely tracking the CSI Baijiu Index. The CSI Baijiu Index selects constituent stocks from companies engaged in baijiu production business within the CSI All Share Index universe, providing diversified investment options for the market. Top 10 heavyweight holdings include leading baijiu producers such as Kweichow Moutai, Wuliangye, and Luzhou Laojiao.

New Times research found that the food & beverage sector overall staged a modest recovery in January 2026, with sub-sectors closely tied to the Spring Festival—including cooked food, pre-made meals, snacks, and alcoholic beverages—posting significant gains. The thematic focus centered on pre-made foods, bakery products, dairy, health supplements, and snack foods, demonstrating the pronounced structural boost from holiday consumption.

According to CITIC Securities research, baijiu sales momentum has gradually warmed up as the Spring Festival approaches. The 2026 Spring Festival holiday period is relatively long, and consumer spending during major holidays has shown resilience, which should benefit baijiu consumption scenarios. Overall assessment suggests that 2026 Spring Festival peak-season baijiu sales performance may exceed market expectations. The firm maintains a positive view on the baijiu sector recovery and recommends increasing allocation on dips.

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