Investment Rating - The report assigns an "Accumulate" rating for the liquor industry [5] Core Insights - The liquor industry is currently at the bottom of its cycle, with the "opening red" sales expected to remain under pressure year-on-year, while brand differentiation is evident. Positive feedback from high-end liquor is significantly boosting market confidence, and a shift in style and improved expectations may catalyze liquor stock prices [2][6] Summary by Sections Market Overview - The liquor market is experiencing a deep adjustment, with sales and revenue expected to decline throughout the year. However, there are signs of marginal improvement starting from Q4 2025, with high-end brands like Moutai and Wuliangye leading the market [6] High-End Liquor Performance - High-end liquor brands are showing resilience, with Moutai and Wuliangye implementing strategies to stabilize prices and enhance channel profits. Moutai's sales performance has improved, with significant user engagement and order volume [6][7] Stock Recommendations - The report recommends stocks with price elasticity, including Guizhou Moutai, Wuliangye, and Luzhou Laojiao, as well as other brands like Shanxi Fenjiu and Yingjia Gongjiu, which are expected to clear inventory [6][7] Future Outlook - The liquor industry is believed to be at the bottom of its current cycle, with potential catalysts for stock prices including improvements in sales, price increases, and inventory reduction. Positive signals from policy changes could further enhance market sentiment [6][7]

证券之星消息，2月3日白酒板块较上一交易日上涨2.01%，皇台酒业领涨。当日上证指数报收于 4067.74，上涨1.29%。深证成指报收于14127.1，上涨2.19%。白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000995 | 言宗演 | 19.27 | 9.99% | 45.59万 | | 8.57亿 | | 616809 | 金徽酒 | 24.86 | 3.67% | 41.94万 | | 10.37亿 | | 615009 | 贵州茅台 | 1474.92 | 3.36% | ● 8.63万 | | 126.28亿 | | 002646 | 天佑德酒 | 9.49 | 2.26% | 1 25.07万 | | 2.37亿 | | 600809 | 山西汾酒 | 174.35 | 0.49% | 7.64万 | | 13.29亿 | | 000568 | 泸州老窖 | 122.30 | 0.25% | 14.27万 | | 17.43亿 | ...

证券日报网讯 2月2日，伊力特在互动平台回答投资者提问时表示，公司冠名新疆广汇男篮是基于伊力 特品牌的长期营销战略考量，联赛的稳定受众和赛事热度能为公司品牌带来持续赋能，公司将持续跟踪 合作价值。 （文章来源：证券日报） ...

证券之星消息，2月2日白酒板块较上一交易日上涨1.86%，金徽酒领涨。当日上证指数报收于4015.75， 下跌2.48%。深证成指报收于13824.35，下跌2.69%。白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 616809 | 金徽酒 | 23.98 | 10.00% | 39.46万 | | 9.15 G | | 000995 | 皇台酒业 | 17.52 | 9.98% | 62.80万 | | 10.50亿 | | 600779 | 水井坊 | 44.78 | 7.44% | 27.47万 | | 12.23亿 | | 661009 | 金种子酒 | 10.98 | 5.17% | 85.00万 | | 9.16亿 | | 000799 | 酒鬼殿 | 58.80 | 3.48% | 34.99万 | | 20.49亿 | | 603198 | 迎驾贡酒 | 41.63 | 2.46% | 13.86万 | | 5.80亿 | | 0008 ...

| 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 000995 | 三号温州 | 1 | 9.98 | 31.08亿 | 40.05 | | 600779 | 水井坊 | 1 | 7.32 | 218亿 | 16.30 | | 603919 | 我做 | 4 | 6.51 | 118亿 | 13.71 | | 600199 | 金种子酒 | 1 | 3.83 | 71.31 乙 | 11.98 | | 000799 | 酒鬼酒 | 4 | 3.59 | 191亿 | 7.84 | | 603198 | 迎驾贡酒 | 美 | 3.00 | 335亿 | 5.79 | | 600702 | 舍得酒业 | 中 | 2.82 | 193亿 | 3.23 | | 000858 | 五粮液 | 1 | 2.63 | 4183亿 | 1.72 | | 603589 | 口子窖 | | 2.35 | 180亿 | 0.13 | | 600519 | 贵州茅台 | 1 | 2.25 | 17939亿 | 4.02 | | ...

数据显示，广发基金旗下1只基金位居伊力特十大流通股东。广发中证1000ETF（560010）三季度减持 4.83万股，持有股数120.06万股，占流通股的比例为0.25%。根据测算，今日浮亏损失约90.05万元。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 广发中证1000ETF（560010）成立日期2022年7月28日，最新规模358.72亿。今年以来收益9.57%，同类 排名1656/5557；近一年收益43.84%，同类排名1757/4285；成立以来收益20.79%。 1月30日，伊力特跌5.08%，截至发稿，报14.02元/股，成交1.71亿元，换手率2.55%，总市值66.34亿 元。 广发中证1000ETF（560010）基金经理为罗国庆。 资料显示，新疆伊力特实业股份有限公司位于新疆可克达拉市天山北路619号，成立日期1999年5月27 日，上市日期1999年9月16日，公司主营业务涉及白酒生产和销售;农业综合 ...

| 代码 | 名称 | | 涨幅%↑ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 002646 | 天佑德酒 | 1 | -5.81 | 44.27亿 | 6.82 | | 002304 | 洋河股份 | -澳 | -5.67 | 850亿 | -7.10 | | 000860 | 顺鑫农业 | 1 | -5.53 | 111亿 | 2.53 | | 200596 | 古井贡B | | -5.37 | 429亿 | -7.16 | | 600559 | 老白干酒 | | -5.01 | 149亿 | 1.62 | | 603589 | 口子窖 | | -4.95 | 178亿 | -0.87 | | 600197 | 伊力特 | 1 | -4.74 | 66.58亿 | 1.66 | | 603369 | 今世缘 | -澳 | -4.66 | 421亿 | -2.85 | | 603198 | 迎驾贡酒 | | -4.03 | 327亿 | 3.41 | | 000858 | 五粮液 | 1 | -3.93 | 4131亿 | 0.45 ...

Investment Rating - The report assigns an "Accumulate" rating for the liquor industry [4]. Core Insights - The liquor industry has entered a deep adjustment period, but recent positive changes in the real estate and domestic demand sectors, along with the market-oriented transformation of Moutai, are stimulating incremental demand and driving up prices, leading to a valuation recovery [2]. - The report recommends stocks with price elasticity such as Guizhou Moutai, Wuliangye, and Luzhou Laojiao, as well as those expected to clear inventory like Yingjia Gongjiu, Gujing Gongjiu, Shanxi Fenjiu, Jianshiyuan, Zhenjiu Lidu, Shede Jiuye, and Jinhui Jiu [4]. Summary by Sections Market Environment - The real estate sector is showing signs of recovery, and policies are becoming more favorable. The liquor industry is a typical cyclical sector, with market pricing influenced by both internal demand and real estate conditions. The government has prioritized boosting domestic demand as a key task for the 14th Five-Year Plan, with plans to develop a strategy for expanding domestic demand from 2026 to 2030 [4]. - The real estate market is gradually bottoming out after years of adjustment, with recent government actions aimed at stabilizing market expectations and improving conditions [4]. Moutai's Market Transformation - Moutai's market-oriented reform has sparked incremental demand, with significant attention on liquor sales during the Spring Festival. Moutai has introduced various products on its iMoutai platform, leading to a surge in online purchases and stable price performance [4]. - As of January 29, Moutai's price has increased by over 1,600 RMB, with transaction prices exceeding 1,700 RMB, indicating successful price-volume strategies [4]. Industry Outlook - The liquor industry is believed to be at the bottom of its cycle, with liquidity improvements and expectations likely to catalyze stock prices. The report anticipates that if prices stabilize, the pressure on stock prices will lessen, and further positive signals from policies could enhance stock performance [4]. - The report includes earnings forecasts for key liquor companies, indicating a compound annual growth rate (CAGR) of 5% for Moutai from 2024 to 2026, with a price-to-earnings (PE) ratio projected to decrease from 21 to 19 [5].

1月29日，A股白酒板块迎来罕见大涨。截至当日收盘，酒ETF上涨10.08%，中证白酒指数上涨9.79%。 白酒行业专家、武汉京魁科技有限公司董事长肖竹青对《证券日报》记者表示，本轮上涨是茅台"主动控量稳价"与季节性需求叠加共同作用的结果。 "白酒作为强周期、高社交属性的品类，自然成为资金提前布局的标的。"蔡学飞表示，"此轮上涨更多是资本市场对行业'拐点'的博弈，终端消费能否真 正回暖，仍需观察春节传统旺季的实际表现。" 然而，与二级市场的火热行情形成对比的是，部分白酒企业近期披露的业绩预告仍显压力。截至1月29日，已有5家白酒上市公司发布2025年度业绩预 告，行业整体承压态势明显。其中，洋河股份、口子窖、水井坊的预计归母净利润同比最大降幅均超过60%；金种子酒、*ST岩石则预计继续亏损。 多家酒企在业绩预告中提及，报告期内，白酒行业处于深度调整期，行业竞争格局深刻变革，存量竞争加剧。在此背景下，公司受到市场需求减少、品 牌势能减弱、渠道库存加大、渠道利润下降等挑战。 西南证券分析师也认为，白酒厂家主动调整库存，渠道逐步向健康发展，高端酒亦尊重市场规模，不再强制要求做增量，高端酒批价有望企稳；从中长 期看配 ...

相关行业： 高端白酒（核心股）：高端白酒凭借深厚的品牌壁垒和稳定的消费群体，在行业调整期展现出更强的抗 风险能力。随着春节商务宴请、礼品馈赠等消费场景复苏，高端白酒批价回升、动销向好，相关龙头企 业将率先受益于行业复苏红利，业绩弹性值得期待。 区域白酒（核心股）：区域白酒企业依托本地消费市场优势，积极调整渠道策略、优化产品结构，叠加 各地产区政策扶持，有望在存量竞争中实现突围。部分区域酒企推出亲民酒、口粮酒等产品，贴合大众 消费需求，将进一步巩固本地市场份额，打开成长空间。 午后，白酒（核心股）板块持续拉升，板块内8只个股涨停，泸州老窖、酒鬼酒、皇台酒业、金种子 酒、舍得酒业、水井坊、金徽酒、流金科技纷纷涨停，古井贡酒、五粮液、顺鑫农业、洋河股份、天佑 德酒、古越龙山、伊力特、贵州茅台、老白干酒、山西汾酒、会稽山、迎驾贡酒、今世缘、口子窖涨超 5%。 | 代码 | 名称 | 相关 | 最新价 | रे | | --- | --- | --- | --- | --- | | | | | | 涨跌幅号 | | 600199 | 金种子酒 | 详情 数据 股吧 | 10.30 | 10.04% | | 000995 ...