According to the CITIC Securities Research Report, in 2026Q3, the size and share of fund holdings in the food and beverage sector have rebounded steadily, mainly due to the decline in the Q3 technology investment market, some capital returned to leading consumers with stable fundamentals and attractive dividend returns. Looking at the molecular sector, the share of liquor holdings increased most significantly in Q3. Among popular products, the share of dairy products rebounded the most, and other sub-sectors basically showed varying degrees of month-on-month recovery. Looking at individual stocks, leading liquor companies are still the main players in fund holdings. The number of heavily held funds such as Kweichow Moutai, Shanxi Fenjiu, and Gujing Gongjiu have all increased, and leading positions in dairy products and food supply are relatively stable. In terms of investment proposals, it is recommended to increase the allocation of leading liquor companies at the bottom of the industry; popular products suggest three main lines: 1) Competition improvement dimensions. 2) High dividend dimension. 3) The dimension of healthy growth and prosperity.

According to the CITIC Securities Research Report, in 2026Q3, the size and share of fund holdings in the food and beverage sector have rebounded steadily, mainly due to the decline in the Q3 technology investment market, some capital returned to leading consumers with stable fundamentals and attractive dividend returns. Looking at the molecular sector, the share of liquor holdings increased most significantly in Q3. Among popular products, the share of dairy products rebounded the most, and other sub-sectors basically showed varying degrees of month-on-month recovery. Looking at individual stocks, leading liquor companies are still the main players in fund holdings. The number of heavily held funds such as Kweichow Moutai, Shanxi Fenjiu, and Gujing Gongjiu have all increased, and leading positions in dairy products and food supply are relatively stable. In terms of investment proposals, it is recommended to increase the allocation of leading liquor companies at the bottom of the industry; popular products suggest three main lines: 1) Competition improvement dimensions. 2) High dividend dimension. 3) The dimension of healthy growth and prosperity.