E Fund (HK) CSI Liquor Index ETF (03189.HK) Rises 3.85% Intraday as Kweichow Moutai's Q3 Net Profit Grows 3.78%

NewTimeSpace News: As of 10:41 on November 2, the E Fund (HK) CSI Liquor Index ETF (03189.HK) rose 3.85% to a latest price of HK$1.242. The ETF has traded 1.2793 million units so far today for a turnover of HK$1.5957 million at an average price of HK$1.247, with a turnover rate of 1.672%. It is up 3.85% so far this week. Its current net asset value per unit is HK$1.1984, and its assets under management stand at HK$77.77 million.

(Note on scope: the net asset value per unit and assets under management are as of October 30, 2026; the week-to-date change is measured against the closing price of HK$1.196 on October 30.)

On the news front, A-share liquor stocks rallied sharply in early trade on November 2, with the sector up 4.03% overall: Swellfun, Huangtai Liquor, Golden Seed and Yingjia Gongjiu all hit the daily limit, Jinshiyuan rose more than 9%, Gujing Gongjiu more than 8%, Laobaigan and Jinhui Liquor more than 5%, and Luzhou Laojiao, Shede Spirits and Shanxi Fenjiu more than 4%; Kweichow Moutai gained more than 3% intraday, reclaimed the RMB1,400 level and touched a more than six-month high, erasing all of its year-to-date decline. On flows, the liquor industry index rose 2.18%, topping the morning sector gainers, with net main-force inflows of RMB5.138 billion and an inflow ratio of 19.89%, both the highest among sectors. On fundamentals, Kweichow Moutai's 2026 third-quarter report showed revenue of RMB41.006 billion, up 3.0% year on year, and net profit attributable to shareholders of RMB19.951 billion, up 3.78% year on year and 15% quarter on quarter, reversing the second quarter's decline; first-nine-month revenue was RMB133.284 billion, up 1.82%, and net profit RMB64.467 billion, down 0.25%. On the channel side, wholesale prices for unopened cases of Feitian Moutai held above RMB1,700 a bottle and the eighth-generation Wuliangye steadied at RMB760-780, with prices of flagship products stopping their slide.

The E Fund (HK) CSI Liquor Index ETF (03189.HK) is a passively managed exchange-traded fund under E Fund Management (Hong Kong), seeking returns that closely track the CSI Liquor Index. The index, compiled by China Securities Index Co., selects listed companies engaged in liquor production from the Shanghai and Shenzhen markets to reflect the overall performance of the liquor industry. The fund adopts a physical representative sampling strategy, investing 80% to 100% of net asset value in a portfolio of representative securities highly correlated with the index; it listed on February 16, 2023, trades in board lots of 100 units and has an ongoing charges ratio of 1.4%.

Huachuang Securities believes that in terms of cycle rhythm, 2026 is a year of active adjustment and accelerated clearing for the liquor industry, with the turning point becoming clearer and improvement proceeding step by step in 2027; some distillers may return to reporting growth in the fourth quarter on a low base, but a full recovery will take time, and a return to reporting growth should be distinguished from a fundamental recovery.