China Merchants CSI Liquor Index Fund-A

WLY released FY2026 Q1 earnings on April 30 After-Market (BJT), actual revenue CNY 22.84 B (forecast CNY 26.9 B), actual EPS CNY 2.0772 (forecast CNY 2.885)

SHANXI FEN WINE released FY2026 Q1 earnings on April 29 After-Market (BJT), actual revenue CNY 14.92 B (forecast CNY 15.85 B), actual EPS CNY 4.41 (forecast CNY 4.2)

LZLJ released FY2025 Q4 earnings on April 28 (BJT), actual revenue CNY 2.604 B (forecast CNY 3.994 B), actual EPS CNY 0.0464 (forecast CNY 0.9655)

LZLJ released FY2025 annual earnings on April 28 (BJT), actual revenue CNY 25.73 B (forecast CNY 28.09 B), actual EPS CNY 7.36 (forecast CNY 8.0818)

WLY released FY2025 earnings on April 28 After-Market (BJT), actual revenue CNY 40.53 B (forecast CNY 76.06 B), actual EPS CNY 2.3068 (forecast CNY 6.722)

WLY released FY2025 Q4 earnings on April 28 After-Market (BJT), actual revenue CNY -20.42 B (forecast CNY 12.04 B), actual EPS CNY -3.2344 (forecast CNY 1.0444)

King’s Luck released FY2025 Q4 earnings on April 28 After-Market (BJT), actual revenue CNY 1.3 B (forecast CNY 1.295 B), actual EPS CNY 0.0438 (forecast CNY 0.2)

King’s Luck released FY2025 annual earnings on April 28 After-Market BJT, actual revenue CNY 10.18 B (forecast CNY 10.16 B), actual EPS CNY 2.0883 (forecast CNY 2.1614)

Gu Jing released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue CNY 7.446 B (forecast CNY 7.774 B), actual EPS CNY 3.04 (forecast CNY 3.52)

LZLJ released FY2026 Q1 earnings on April 28 After-Market (BJT), actual revenue CNY 8.025 B (forecast CNY 7.949 B), actual EPS CNY 2.52 (forecast CNY 2.78)

Gu Jing released FY2025 Annual Earnings on April 28 During-Market (BJT), actual revenue CNY 18.83 B (forecast CNY 19.3 B), actual EPS CNY 6.71 (forecast CNY 8.2078)

King’s Luck released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue CNY 4.322 B (forecast CNY 4.589 B), actual EPS CNY 1.1108 (forecast CNY 1.09)

Gu Jing released FY2025 Q4 earnings on April 28 During-Market (BJT), actual revenue CNY 2.407 B (forecast CNY 2.575 B), actual EPS CNY -0.7763 (forecast CNY 0.8982)

Yanghe released FY2025 earnings on April 27 During-Market (BJT), actual revenue CNY 19.21 B (forecast CNY 20.15 B), actual EPS CNY 1.4644 (forecast CNY 2.4192)

Yanghe released FY2025 Q4 earnings on April 27 During-Market (BJT), actual revenue CNY 1.121 B (forecast CNY 1.502 B), actual EPS CNY -1.1741 (forecast CNY -0.4406)

Yanghe released FY2026 Q1 earnings on April 27 During-Market (BJT), actual revenue CNY 8.186 B, actual EPS CNY 1.6241 (forecast EPS CNY 1.45)

Moutai released FY2026 Q1 earnings on April 24 During-Market (BJT), actual revenue CNY 53.91 B (forecast CNY 54.79 B), actual EPS CNY 21.76 (forecast CNY 22.01)

SHANXI FEN WINE to release FY2026 Q1 earnings on April 30 After-Market (BJT), forecast revenue CNY 15.44 B, EPS CNY 4.2

WLY to Release FY2026 Q1 Earnings on April 29 After-Market (BJT), Forecast Revenue CNY 26.9 B, EPS CNY 2.885

LZLJ to Release FY2026 Q1 Earnings on April 29 After-Market (BJT), Forecast Revenue CNY 7.949 B, EPS CNY 2.78

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Kweichow Moutaihas adjusted its i Moutai sales launch time to 8:00 p.m. and extended offline store hours to 10:00 a.m. to 8:00 p.m. Despite multiple restocks during the one-hour sales window, items sold out within seconds, with the system indicating sold out by 8:50 p.m.

AASTOCKS News

Moutai

i Moutai Evening Sales Window Sees Repeated Restocking but Sells Out Within Seconds

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Gosset, the oldest Champagne house, presents the Célébris Rosé 2009, a unique prestige rosé that defies typical flavor profiles. Sourced from 99% external grapes, the wine reflects a commitment to quality and tradition, with a focus on flavor over production targets. The 2009 vintage, marked by warmth, showcases a blend of 70% Chardonnay and 30% Pinot Noir, crafted to be dry and elegant. Gosset's decision to release this wine exclusively as a rosé highlights its dedication to representing its distinctive style.

FiNews

Penghua CSI Alcoholic Drink ETF

ChinaAMC CSI Food & Beverage Sub-Industry ETF

China Merchants Guozheng Food and Beverage ETF

Jauch's Selection: A Rosé Built for the Table

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Five of the seven beer companies listed in mainland China reported increased gross profit margins in Q1, driven by a shift towards high-end products. The combined net profit for these companies reached CNY2.6 billion (USD390 million), a 6.1% year-on-year increase. Notably, Tsingtao Brewery's net profit rose 5.2% to CNY1.8 billion, while Yanjing Brewery saw a 60.2% surge to CNY265 million. Despite these gains, beer production in China has declined for two consecutive years, prompting companies to focus on off-premises sales and product upgrades.

Yicai

Yanjing Brewery

Tsingtao Brewery

TSINGTAO BREW

Tianhong CSI Food and Beverage ETF

Premium Beer Strategy Swells Profit Margins at Chinese Brewers

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Jefferies reported that BUD APACachieved a normalized EBITDA of USD463 million in Q1, exceeding expectations by 2%. Strong sales in eastern APAC, particularly in India, contributed to a 3% sales increase. However, revenue in China fell 4% due to increased investments, with a 1.5% decline in sales volume. Despite a 10.9% YoY drop in normalized EBITDA, management noted a slight improvement in the China market. Jefferies maintains a target price of HKD9.4 and a Buy rating.

BUD APAC

Jefferies Financial

Jefferies: BUD APAC  1Q Normalized EBITDA Beats; Strong India Sales

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The Shanghai and Shenzhen markets reopened after the May Day holiday, with the three major A Share indices rising between 0.6% and 2.3%. The central parity of RMB against USD increased to 6.8562, the highest since March 2023. Banking stocks showed mixed results, while chip-related stocks, including CAMBRICON, saw significant gains. WULIANGYE's shares fell 6.5% following a substantial profit decline, despite announcing a share buyback plan. Overall, the market showed positive momentum on the first trading day back.

Cambricon

SSE Index

Shenzhen Index

ChiNext

ICBC

BYD COMPANY

CATL

SMIC

Hua Hong

HUA HONG SEMI

MetaX

Moore Threads

CTG DUTY-FREE

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

CATL HK SDR 30to1

SMIC HK SDR 5to1

Shanghai & Shenzhen Markets Reopen After May Day Holiday; Three Major A Share Indices Open Up 0.6%-2.3%; CAMBRICON  +5%; WULIANGYE  -6.5%

CLSA's report on BUD APACindicates a narrowing 1.5% decline in China's sales volume in 1Q, with overall organic revenue down 0.7% YoY, slightly better than expectations. Revenue rose 2.2% YoY to USD 1.493 billion, exceeding forecasts. Normalized EBITDA fell 4.5% YoY to USD 463 million, while net profit decreased 3.4% YoY to USD 226 million, both surpassing market expectations. CLSA maintains an Outperform rating with a target price of HKD 9.

CLSA: BUD APAC  1Q China Volume Decline Narrows, Rating Outperform

Harrison Ford has co-created a limited edition Glenmorangie Highland single malt Scotch whisky, tailored to his taste. The whisky, crafted with Dr. Bill Lumsden, features a blend of bourbon cask-aged Glenmorangie and rare whisky finished in toasted Portuguese red wine casks. It offers zesty citrus notes, complemented by hints of muscovado sugar and apricot. Ford describes it as "very nice" and expresses pride in the collaboration. The Glenmorangie Harrison Ford Limited Edition will be available for purchase starting May 4, 2026, for $99.99.

prnewswire

09:00 ETHarrison Ford co-directs his own limited-edition Glenmorangie. His verdict? "Very nice"

Jefferies analysts report that Kweichow Moutai (600519) is well-positioned for structural growth in China's recovering luxury market. The stock is rated Buy with a price target of RMB 1,458.49. Moutai has rebounded in retail sales, and its high margins protect it from raw material price shocks. The company is expected to gain market share in premium baijiu segments through online-offline integration and distributor incentives. Analysts forecast mid-to-high-single-digit volume growth over the next three years, driven by price hikes and product mix changes.

Investing

This China stock is ‘positioned for structural growth’, says Jefferies

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As global markets reach record highs, dividend stocks are gaining attention for their potential to provide stable returns amid economic uncertainties. Key picks include Wuliangye Yibin Ltd (5.74% yield), Suzuki Ltd (3.3% yield), and Sesoda (3.7% yield). Mitsubishi Kakoki Kaisha and Suzuki Ltd show strong dividend growth and prudent financial management, while Sesoda faces challenges with volatile payments. Investors are encouraged to explore a comprehensive list of global dividend stocks for income generation and capital appreciation opportunities.

China Merchants CSI Liquor Index Fund-A(161725.SZ)

i Moutai Evening Sales Window Sees Repeated Restocking but Sells Out Within Seconds

Jauch's Selection: A Rosé Built for the Table

Premium Beer Strategy Swells Profit Margins at Chinese Brewers

Jefferies: BUD APAC 1Q Normalized EBITDA Beats; Strong India Sales

Shanghai & Shenzhen Markets Reopen After May Day Holiday; Three Major A Share Indices Open Up 0.6%-2.3%; CAMBRICON +5%; WULIANGYE -6.5%

CLSA: BUD APAC 1Q China Volume Decline Narrows, Rating Outperform

09:00 ETHarrison Ford co-directs his own limited-edition Glenmorangie. His verdict? "Very nice"

This China stock is ‘positioned for structural growth’, says Jefferies

Global Dividend Stocks Spotlight Featuring Three Key Picks