新浪财经"酒价内参"过去24小时收集的数据显示，中国白酒市场十大单品的终端零售均价在2月1日呈现涨 跌互现格局。如果十大单品各取一瓶整体打包售卖，今日总售价为9011元，较昨日小幅上涨2元，整体价 格升至近20天的最高位。今日市场十大单品两涨七跌一平，价格权重差异带动整体均价内部结构出现对冲 变化。上涨产品中，精品茅台环比上涨34元/瓶，为今日涨幅最大单品，涨幅创下"酒价内参"11月10日上线 以来的最高纪录；青花郎同步回升，上涨6元/瓶。下跌产品方面，飞天茅台回落25元/瓶，为当日回调幅度 居前的核心单品，昨日飞天茅台大幅飙升90元/瓶；五粮液普五八代下跌5元/瓶；习酒君品回落4元/瓶。此 外，水晶剑南春、古井贡古20、洋河梦之蓝M6+及青花汾20均小幅下探，跌幅均为1元/瓶。国窖1573的价 格保持稳定，与昨日持平。 | 中国知名白酒大单品 图 | 市场真实成交终端价 | | | --- | --- | --- | | i茅台飞天茅台(2026)售价1499精品茅台售价2299 | | | | 品名/规格 | 今日价格(元) | 较昨日(元) | | 贵州茅台酒(飞天) 53度/500ml | 1730/ ...

李后强（四川省社会科学院教授） 营销的终极战场不在商场，而在思维。当白酒品牌们还在春晚流量中内卷时，一些玩家早已跳出维度，用全新游戏规则改写战局。 2025年春晚，五粮液出现在刘谦的魔术道具上，红花郎的标识悄然攀上西湖游船的灯笼，茅台、洋河斥巨资锁定春晚广告黄金档。表面看，白酒春节营销已 经形成了"标准答案"——绑定春晚这个国民记忆符号，持续强化品牌认知的"心理显著性"。然而，当各大品牌遵循同一套玩法时，古井贡酒连续10年春晚特 约赞助带来的品牌搜索指数提升，正面临边际效应递减的窘境。传统营销在Z世代中难以孵化深刻的"情感记忆点"，白酒行业的春节营销正经历从"流量导 向"向"价值共创"的范式转变，从牛顿思维走向量子思维。 牛顿思维的桎梏：白酒营销的线性困局 白酒行业传统的春节营销策略，深深烙印着牛顿思维的特征。这种思维将市场视为独立、可分割的"原子积木"，认为世界由可分割的实体构成，各部分通过 线性因果关系相互作用。在牛顿思维指导下，白酒企业普遍采取"规划先行、分步实施"的方法——提前数月制定营销方案，投入巨额资金抢占春晚广告位， 开展满减、折扣等促销活动，通过渠道压货抢占终端库存。 量子思维看待市场如量子云 ...

Group 1 - The market is currently experiencing a trend of upward movement followed by narrow fluctuations, with volatility initially rising and then declining, indicating a need for digestion of previous gains [1] - The ETF outflows, particularly from the CSI 300, have put pressure on broad indices, with large-cap stocks underperforming compared to small-cap stocks [1] - There is an acceleration in thematic rotation, with some themes experiencing sharp rises and subsequent pullbacks, suggesting a short-term advantage for small-cap and growth stocks, but a need for rebalancing in the future [1] Group 2 - The gold stock recommendation logic for February 2026 includes companies benefiting from AI upgrades, solid growth in nickel powder business, and strong positions in the photovoltaic and alloy powder sectors [17] - Specific companies highlighted include BQX New Materials, which is expected to see rapid growth due to a significant expansion in production capacity and strong demand from major clients [17] - Industrial Fulian is noted for its deep integration with leading clients in the AI server market, with expectations of maintaining high growth rates due to its comprehensive supply chain capabilities [17] Group 3 - Financial data for the recommended stocks shows significant expected growth in earnings per share (EPS) for companies like BQX New Materials and Industrial Fulian, with projected EPS increasing from 0.33 to 2.09 and from 1.17 to 3.27 respectively from 2024 to 2026 [19] - The price-to-earnings (PE) ratios for these companies are also projected to decrease significantly, indicating potential for upward valuation adjustments [19] - Tencent Holdings is expected to see strong growth in advertising revenue and new game releases, contributing to its overall performance in 2026 [18]

作者|远禾 数据支持 | 勾股大数据（www.gogudata.com） 近日，白酒板块突然躁动。 1月29日，板块整体上涨超9%。 除了贵州茅台、泸州老窖外，皇台酒业、金徽酒、酒鬼酒等直接涨停，贵州茅台也创下近一段时间的单日最大涨幅。 然而次日，行情突变，除皇台酒业仍继续涨停外，贵州茅台等一众酒企已然明显转跌。 昙花一现的暴涨之后，如今的白酒板块，到底是"回光返照"，还是"彻底反转"？ 01 白酒板块的回暖，一方面看，主要是由于如今商业航天、存储芯片等板块已经处于相对高位，贵金属为代表的有色方向近期同样反复活跃，而白酒板块如今 处于相对底部，顺应了市场高低切的内在需求。 而另一方面，则来源于飞天茅台批发价的企稳。 但白酒板块的基本面，仍未彻底反转。 过去的一年里，飞天茅台批价一度跌破1500元，白酒行业也经历了最严峻的挑战。 同花顺iFind数据显示，申万白酒指数2025年全年下跌超过13%，十八家上市酒企中，仅有三家微涨。 2026年一开年，白酒行业更是大面积"暴雷"，众酒企纷纷发布业绩预减甚至预亏报告。 如今临近春节旺季，飞天茅台需求上涨，部分茅台经销商到货的飞天茅台一月和二月配额已售罄。 因此，飞天茅 ...

作者 | 远禾 数据支持 | 勾股大数 据（www.gogudata.com） 近日，白酒板块突然躁动。 1 月 29 日，板块整体上涨超 9% 。 除了贵州茅台、泸州老窖外，皇台酒业、金徽酒、酒鬼酒等直接涨停，贵州茅台也创下近一段时间的单日最大涨幅。 然而次日，行情突变，除皇台酒业仍继续涨停外，贵州茅台等一众酒企已然明显转跌。 昙花一现的暴涨之后，如今的白酒板块，到底是 "回光返照"，还是"彻底反转"？ 01 白酒板块的回暖，一方面看，主要是由于如今商业航天、存储芯片等板块已经处于相对高位，贵金属为代表的有色方向近期同样反复活跃，而 白酒板块如今处于相对底部，顺应了市场高低切的内在需求。 而另一方面，则来源于飞天茅台批发价的企稳。 如今临近春节旺季，飞天茅台需求上涨，部分茅台经销商到货的飞天茅台一月和二月配额已售罄。 因此，飞天茅台批价近日持续上涨， 30 日更是单日上涨 1000 元，批价已然超过 1700 元 / 瓶。 但白酒板块的基本面，仍未彻底反转。 过去的一年里，飞天茅台批价一度跌破 1500 元，白酒行业也经历了最严峻的挑战。 同花顺 iFind 数据显示，申万白酒指数 2025 年全年下跌超过 ...

Core Viewpoint - The collaboration between Moutai and CITIC Securities aims to enhance Moutai's market position and sustainable development through diversified investment strategies and financial services [3][4]. Group 1: Collaboration Details - Moutai's Chairman Chen Hua and CITIC Securities' Chairman Zhang Youjun discussed deepening their partnership during a meeting on January 30 [1]. - CITIC Securities recognizes Moutai's brand and capital advantages, emphasizing its potential for sustainable growth and stable returns for investors [3]. - The collaboration seeks to explore new directions in the capital market and identify growth opportunities, aiming for mutual benefits [3][4]. Group 2: Strategic Focus - Moutai is committed to its core liquor business while also focusing on market-oriented transformation and upgrading traditional industries [4]. - The partnership will leverage CITIC Securities' resources to foster strategic emerging industries and new economic growth points, enhancing Moutai's resilience against market cycles [4]. - Moutai's contributions to rural revitalization and high-quality development in Guizhou are highlighted as part of its broader mission [4].

2026.01.31 本文字数：1371，阅读时长大约2分钟 作者 |第一财经 宋婕 第一财经记者梳理发现，头部黄金品牌的金饰克价涨跌幅度有所分化。 部分品牌报价连跌两日之后，依然要比28日报价更高。例如，周大福今日报价的1625元/克，就比该品 牌在28日的1618元/克要高。六福珠宝的金饰克价在29日达到了1704元/克的高位，30日回落到1683元/ 克，31日报价1623元/克，依然要比该品牌在28日的1616元/克要高。 但部分品牌价格下调的幅度更大，例如老凤祥的金饰克价仅31日就降了170元。该品牌曾在1月29日达到 1713元/克，30日报价回落到1668元/克，31日报价低至1498元/克，比该品牌在28日报价1620元还要低不 少。老凤祥最新的金饰克价距离历史高价已跌去215元/克。 在金价大幅震荡的过程中，不同金饰品牌及不同品类产品的价格表现分化显著。 1月30日，黄金遇40年来最大单日跌幅，白银创历史最大盘中跌幅。国内主要品牌的金饰克价与国际金 价同频，在大涨之后迎来了大跌。29日，多家头部金饰品牌克价突破1700元大关，刷新历史记录。而大 涨的行情在30日戛然而止，金饰克价从高位回落， ...

据茅台官微报道，当地时间1月23日至25日，茅台集团党委副书记、总经理王莉率代表团赴法国开展文化交流与市场调研活动。 此次行程紧随茅台第三次亮相达沃斯世界经济论坛之后，通过拜访国际酒企、行业协会，召开渠道商交流会，调研终端市场，发布文化新品等举措，深化 中法酒业对话，锚定欧洲市场改革方向，为茅台持续深耕欧洲市场、助推国际化战略落地注入新动力。 作为中华优秀传统文化的重要载体，茅台始终以先行者姿态推动白酒国际化。此次法国之行，茅台把行业交流与文化互鉴深度结合，先后拜访了法国人头 马、卡慕两大知名干邑品牌，以及中国贸促会驻法国代表处、法国中国工商会，构建起中法酒业及经贸文化交流的纽带。 - 49 8 3 and I bo F 12 成立于1724年的人头马酒庄，隶属于人头马君度集团，旗下路易十三、人头马两大干邑品牌享誉全球。代表团在人头马的干邑地区总部、梅尔滨酒窖、品 鉴中心、蒸馏厂，探寻酒庄的历史脉络和工艺流程。双方围绕市场前沿布局、科技创新应用、全球高端烈酒消费趋势、品牌文化传承等话题深入探讨，加 深了彼此理解与信任，为全球高端烈酒品牌之间的跨文化对话奠定了基础。 法国卡慕始创于1863年，是世界著名干邑品牌 ...

Core Viewpoint - The market price of Feitian Moutai has been rising for three consecutive days, with the original box price exceeding 1700 yuan per bottle, marking the highest single-day increase of the year at approximately 100 yuan per bottle [1][3]. Group 1: Price Trends - The terminal market price in Chengdu reached 1860 yuan per bottle, an increase of 160 yuan compared to the previous two days [1][4]. - The price of Feitian Moutai has seen multiple increases within a single day, with reports indicating a rise of 4 times in one day and 2 times the next day [4]. - As of January 30, the market price for original box Feitian Moutai ranged from 1710 to 1770 yuan per bottle, while scattered bottles were priced between 1650 and 1700 yuan per bottle, with daily increases of 100 to 160 yuan for original boxes and 80 to 130 yuan for scattered bottles [7]. Group 2: Market Demand and Supply - The current market demand has exceeded expectations, with some distributors noting a significant increase in purchasing power, described as "heavenly" [1][5]. - The demand surge is attributed not only to the traditional seasonal increase during the Spring Festival but also to the impact of the iMoutai platform, which has attracted new consumer groups beyond traditional distribution channels [3][8]. - Many distributors have already sold out their quotas for January and February, leading to a potential demand exceeding supply situation [10][11]. Group 3: Future Price Stability - There is a prevailing optimistic outlook regarding the stability of Feitian Moutai prices post-Spring Festival, primarily based on supply-demand dynamics [10][11]. - Concerns remain about the sustainability of the new consumer base attracted by iMoutai and the potential for price corrections after the holiday season [12][13]. - Some distributors have noted a decline in group purchase numbers by over 30% year-on-year, indicating that the current purchasing behavior may not sustain long-term demand [12].

| | 中国知名白酒大单品 烟 | 市场真实成交终端价 | | | --- | --- | --- | --- | | | | i茅台飞天茅台(2026)售价1499精品茅台售价2299 | | | 品名/规格 | | 今日价格(元) | 较昨日(元) | | | 贵州茅台酒(飞天) 53度/500ml | 1755/瓶 | 90元▲ | | | 贵州茅台酒(精品) 53度/500ml | 2381/瓶 | 12元 - | | | 五粮液普五八代 52度/500ml | 798/瓶 | -2元 | | | 青花汾20 | 375/瓶 | 3元 | | 『国文 出口 U | | --- | | 52度/500ml | 867/瓶 10元▲ 来源：滚动播报 新浪财经"酒价内参"过去24小时收集的数据显示，中国白酒市场十大单品的终端零售均价在1月31日显著 上行。如果十大单品各取一瓶整体打包售卖，今日总售价为9009元，较昨日上涨117元，重返9000元关 口，创过去20天以来新高。飞天茅台大幅拉升驱动市场上行，头部单品对整体均价的带动效应显著。 今日 市场呈现普涨态势，十大单品七涨两跌一平，高端酒品对价格中枢的影 ...