HK Stock Market Move | The liquor sector as a whole has rebounded, with a strong overall consumption atmosphere during the Spring Festival. Baijiu is expected to recover, while beer sales may see improvements.

The liquor sector as a whole has rebounded, as of the time of reporting, CHINA RES BEER (00291) rose by 5.94% to 25.85 Hong Kong dollars; ZJLD (06979) rose by 4.21% to 6.69 yuan; TSINGTAO BREW (00168) rose by 3.8% to 51.9 Hong Kong dollars; BUD APAC (01876) rose by 2.71% to 7.58 Hong Kong dollars. Xiangcai Securities pointed out that the consumer market performance during the 2025 Spring Festival was good, with the box office reaching a historical high, and significant growth in tourism, catering, and other sectors, creating a strong overall consumption atmosphere. With policy stimulus and economic recovery, the consumer market is showing positive signs of recovery, with gradual improvement in fundamentals, and recommended focusing on opportunities for the recovery of the catering chain. Currently, the liquor industry is still in an adjustment period, with inventory pressure still present, price stability still the main theme, and attention should be paid to end sales performance. Hualong Securities pointed out that the liquor sector is still in the process of bottoming out, and with the boost of resident consumption in the future, the liquor industry is expected to see recovery. The current industry valuation is at historically low levels, and has long-term investment value. In addition, the beer industry's competitive landscape is relatively stable, and with active policies stimulating consumption, beer sales are expected to improve.