Penghua CSI Alcoholic Drink Index ETF(512690) Falls 1.81% Intraday,Industry Channel Landscape Continues to Restructure

NewTimeSpace News: As of 14:11 on April 9, 2026, the CSI Liquor Index (399987) declined 1.84%. Among constituent stocks, Gujing Gongjiu led the decline with a 4.20% drop, Shanxi Xinghuacun Fen Wine 3.62%, Weilong Co., Ltd. 3.00%, Chongqing Beer 2.73%, and Jinshiyuan 2.62%. Penghua CSI Alcoholic Drink Index ETF(512690) fell 1.81% to 0.49 yuan. Over the longer term, as of April 8, 2026, the ETF had risen 1.22% cumulatively in the past two weeks. (Stocks listed above are index constituents only, no specific recommendation implied.)

In terms of liquidity, Penghua CSI Alcoholic Drink Index ETFposted an intraday turnover rate of 2.52% and trading volume of 437 million yuan. As of April 8, its average daily trading volume in the past year reached 915 million yuan.

In terms of size, the latest scale of Penghua CSI Alcoholic Drink Index ETFreached 17.47 billion yuan. (Data source: Wind)

Data showed that leveraged capital continued to allocate. Net margin purchases of Penghua CSI Alcoholic Drink Index ETFreached 11.3325 million yuan on the previous trading day, with the latest margin balance standing at 827 million yuan. (Data source: Wind)

In terms of profitability, as of April 8, 2026, since inception, the ETF had a maximum single-month return of 26.08%, a longest winning streak of 5 months with a cumulative gain of 85.52%, and an average return of 8.18% in rising months. As of April 8, 2026, it had outperformed its benchmark by an annualized return of 2.61% over the past two years.

In terms of drawdown, since the beginning of the year, the relative drawdown versus its benchmark was 0.17% as of April 8.

In terms of fees, the management fee rate is 0.50% and the custody fee rate is 0.10%.

In terms of tracking accuracy, as of April 8, 2026, the ETF’s tracking error over the past month was 0.018%.

From a valuation perspective, the latest P/E ratio (TTM) of the CSI Liquor Index tracked by Penghua CSI Alcoholic Drink Index ETFwas only 18.44 times, at the 19.43rd percentile of the past year, meaning its valuation was lower than 80.57% of the time in the past year and at a historical low level.

Penghua CSI Alcoholic Drink Index ETFclosely tracks the CSI Liquor Index, which selects listed companies engaged in baijiu, beer, wine brewing and other related businesses as index samples to reflect the overall performance of liquor‑related listed securities.

Data showed that as of March 31, 2026, the top 10 weighted stocks of the CSI Liquor Index (399987) were Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Xinghuacun Fen Wine, Yanghe Co., Ltd., Tsingtao Brewery, Jinshiyuan, Yanjing Brewery, Gujing Gongjiu, and Chongqing Beer. The top 10 weighted stocks accounted for 79.37% in total. (Stocks listed above are index constituents only, no specific recommendation implied.)

Haitong International stated that emerging channels are reshaping competition logic. The share of on‑premise channels has dropped from over 55% before the pandemic to around 40%, while new channels such as on‑demand retail and snack discount stores are rising rapidly. In the long run, the beer industry features significant scale effects and stable cash flow. Beyond investment opportunities from the restructuring of the competitive landscape, corporate breakthroughs in product innovation, internationalization and diversified businesses also hold potential for value revaluation.

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