官方直销平台"i茅台"销售持续火爆，知名投资人段永平公开力挺，股价从"九阴真经"到"一阳手"，茅台酒批价与零售价同步大幅上扬......贵州 茅台（6000519.SH）再次成为市场的焦点。 批发价方面。第三方平台"今日酒价"数据显示， 1月30日，各年份飞天茅台（53度/500ml规格，下同）批发参考价迎来全面上涨，涨幅超出市 场预期。具体来看，2026年飞天茅台原箱报1710元/瓶，较前一日大幅上涨100元， 单日涨幅6.21%；散瓶报1650元/瓶，上涨80元，涨幅 5.1%。2025年飞天茅台表现最为抢眼，原箱报1730元/瓶，较前一日暴涨110元，单日涨幅高达6.79%；散瓶报1650元/瓶，上涨70元，涨幅 4.4%。 | 茅台飞天 | | | 2026年1月30日 (公众号: 今日酒价) | | --- | --- | --- | --- | | 昭名 | 规格 | 昨日行情 | 今日行情 | | 2 26年飞天(原) | 53度/500ml | 1610 | 1710 t | | ② 26年飞天(散) | 53度/500ml | 1570 | 1650 1 | | 25年飞天(原) | 53度 ...

以下文章来源于格隆汇交易学苑 ，作者格隆汇小编 格隆汇交易学苑 . 以基本面为基础，专注于趋势交易 最近的行情，简直就是一个大乱斗场，轮动地让人目瞪口呆。 典型比如说昨天，早盘还是延续前天的行情，贵金属为代表的上游资源强，然后市场去拉了AI应用，传媒板块暴涨，再之后拉了地产，最后大 赢家原来是白酒，板块除茅台外，都涨停了，酒ETF涨停。 结果今天市场就一度大幅调整，以致有人说：以后必须要严肃对待白酒上涨了，一涨就把其他的全卖了。 那么，春季躁动到白酒，到底意味着什么？是老登们的春天要来了吗？还是市场的最后一轮补涨？ 01 纯轮动，无关基本面 首先，要明确指出，白酒昨天的集体涨停，纯轮动，大家不用想一丁点的是不是白酒基本面反转了。 茅台的批价确实是在上涨，但是，第一，这只关乎茅台，我们以前就跟大家说过，白酒里面，大家看估值看股息率，只有茅台的有意义，其他 白酒都没意义，因为业绩不可持续。 第二，马上就要春节了，之前茅台的批价急跌，跌破了1500，在官方多个动作之下，叠加春节效应，这个批价回升是正常反应，不回升只能说 白酒更加差，回升也只是正常发挥。 | 回律名 | 营业部名称 | 买入金额(万元) | 买入占比 ...

行业走势图 -10% 0% 10% 19% 29% 2025-02 2025-06 2025-10 食品饮料 沪深300 数据来源：聚源 相关研究报告 食品饮料 2026 年 01 月 30 日 投资评级：看好（维持） 2025 年以来，白酒的机构配置比例持续降低，业绩也在承压，股价面临估值和 业绩双杀。但从白酒板块历史上看，白酒一直跟随宏观环境呈现出较强周期性， 现在随着库存出清，行业从被动应对进入主动调整，预计 2026 年预期逐步筑底 企稳，后续随着居民资产负债表修复，消费意愿提升，从而进入下一个上行周期。 白酒股价下行，基金持仓再创新低 四季度以来白酒板块受指数基金卖出权重股影响表现不佳，基金重仓白酒比例由 2025Q3 的 3.2%回落至 2025Q4 的 2.9%水平，环比回落 0.3pct。如果观察全市场 基金口径，基金重仓白酒比例由 2025Q3 的 5.5%回落到 2025Q4 的 5.1%。这反 映出主动权益与被动基金均在减配白酒。主要原因是 2025 年以来，白酒产品价 格持续下行，市场对行业长期需求有所担忧。主动基金前十大重仓股中白酒仅有 贵州茅台，且从 Q3 末第 7 位下降至 Q4 ...

【中国白酒网】节前茅台迎来了一波价格暴涨。第三方价格平台显示，1月30日飞天茅台批发价单 日涨幅超过百元/瓶，记者了解到，部分地区价格单瓶两日跳涨超过150元/瓶，这让受访酒商也感到吃 惊。业内猜测，茅台价格暴涨或与节前礼赠需求增加和黄牛炒作有关。 多位酒商告诉记者，29日开始，飞天茅台的价格涨幅就不太正常，早上还是1600元/瓶，中午就涨 了40元/瓶，而到晚上报价已经到了1660元/瓶，今天早上已经突破了1700元/瓶"早上卖货的价格，中午 拿货都拿不回来"。天津酒商王伟表示，经过两日大涨，目前天津市场飞天茅台拿货已经从1600元左右 涨到1750元/瓶。 多个第三方平台显示，飞天茅台整体涨幅惊人，竞争较为激烈的河南百荣批发市场的报价涨幅较 小，2026年飞天茅台单日涨幅在90元/瓶左右，其他平台报价单日上涨幅度在100元到150元/瓶之间。 飞天茅台批价回升至1700元 部分市场两日跳涨150元/瓶 记者在部分社交平台上看到，由于近日茅台价格持续回升，贵阳有茅台售酒点重新排起了长龙。社 交平台视频显示，该售酒点位于贵阳顺丰丰泰产业园。多个视频显示，排队者通宵排队购买，一人可以 1499元/瓶购买20箱飞 ...

Core Viewpoint - The wholesale price of Feitian Moutai has experienced a significant increase as the Spring Festival approaches, driven by multiple factors including seasonal demand and market dynamics [1][3]. Group 1: Price Trends - On January 30, the wholesale price of Feitian Moutai rose by 100 yuan to 1710 yuan per bottle, with some regions seeing a two-day cumulative increase of over 150 yuan [1]. - The Tianjin market saw prices surge from around 1600 yuan to 1750 yuan per bottle, while the Henan Bai Rong wholesale market experienced a daily increase of approximately 90 yuan [1]. Group 2: Demand Drivers - The primary driver of the price increase is the concentrated release of demand due to the Spring Festival, with significant increases in purchases for business gifts and family gatherings [3]. - Consumers are preemptively stocking up to avoid potential logistics disruptions, as some logistics companies have announced operational halts before the festival [3]. Group 3: Supply Constraints - Moutai's proactive measures to control supply and stabilize prices have further supported the price increase, including halting shipments and reducing allocations of non-standard products by up to 50% [3]. - The tight supply situation is exacerbated by some distributors hoarding stock in anticipation of higher prices, leading to reduced market availability [4]. Group 4: Market Reactions - Distributors report increased sales volumes, but some remain cautious about the rapid price increases and the need to manage existing inventory levels [4][5]. - Consumers show strong intent to purchase, but some are opting to wait or consider alternative high-end liquor options due to rising prices [5]. Group 5: Expert Opinions - Analysts are divided on the implications of the price increase, with some viewing it as a positive signal for the industry, while others caution that it may not reflect a full recovery in consumer demand [5]. - Key variables affecting future price trends include logistics disruptions before the festival and the pace of demand recovery post-festival [5].

最近的行情，简直就是一个大乱斗场，轮动地让人目瞪口呆。 而对绝大多数白酒，此前的业绩预告已经给市场展示过了，接下来的25年年报和一季报都会是雷，雷完之后也不是说马上就可以起来（如果雷完马上可以 起来，那就是利空出尽），从基本面筑底走到基本面回升，是要好几个季度的，今年是大概率看不到。 从昨天白酒的资金面看，五粮液和泸州老窖破天荒的居然上了龙虎榜。这个龙虎榜透露的信息有： 典型比如说昨天，早盘还是延续前天的行情，贵金属为代表的上游资源强，然后市场去拉了AI应用，传媒板块暴涨，再之后拉了地产，最后大赢家原来 是白酒，板块除茅台外，都涨停了，酒ETF涨停。 结果今天市场就一度大幅调整，以致有人说：以后必须要严肃对待白酒上涨了，一涨就把其他的全卖了。 那么，春季躁动到白酒，到底意味着什么？是老登们的春天要来了吗？还是市场的最后一轮补涨？ 01 纯轮动，无关基本面 首先，要明确指出，白酒昨天的集体涨停，纯轮动，大家不用想一丁点的是不是白酒基本面反转了。 茅台的批价确实是在上涨，但是，第一，这只关乎茅台，我们以前就跟大家说过，白酒里面，大家看估值看股息率，只有茅台的有意义，其他白酒都没意 义，因为业绩不可持续。 第二，马 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 昨日（1月29日）A股市场上演了一场惊心动魄的风格大逆转，以白酒板块为代表的传统核心资产——被市场戏称为"老登资产"——发起全面反扑，彻底打 破了此前科技成长独领风骚的格局。中证白酒指数更是一柱擎天，单日暴涨9.79%，创下近年来罕见的板块级行情。 盘面显示，白酒板块内部呈现极致的普涨态势：除贵州茅台因市值庞大、流动性充裕而涨幅相对克制外，五粮液、泸州老窖、山西汾酒、洋河股份等头部酒 企全线涨停，古井贡酒、今世缘、舍得酒业等二三线白酒同样集体封板，板块内涨停家数超过15只，成交额突破千亿元大关，资金抢筹迹象极为明显。 白酒板块上演"单日暴涨"行情 数据来源：Wind 截至：2026.01.30 而从业绩端看，1月29日晚，天佑德公告了2025年度业绩预告：2025年度归属于上市公司股东的净利润421.35万元至632.02万元，比上年同期下降85%～ 90%。这是白酒企业第四家公告的2025年度业绩预减预告。目前，上市白酒企业中已四家公告2025年年度业绩预减预告，两家公告2025年年度业绩预亏预 告。 白酒行业却难觅利好 白酒企业2025年度业绩预告 ...

1月29日午后，白酒股大涨。截至收盘，贵州茅台涨8.61%，报1437.72元/股，盘间曾摸高至1445元/股， 涨幅超9%接近涨停，创下近一年来其股价最大的单日涨幅，总市值为1.8万亿元，当天成交额超263亿 元。白酒指数涨超4%，个股全线飘红。 消息面上，据智通财经报道，受春节旺季需求向好等因素影响，53vol 500ml飞天茅台批价迎来2026年 以来的最强劲上涨。29日，飞天茅台批价已攀升至接近1600元/瓶，单日涨幅达30元。 与此同时，近期茅台酒市场也呈现热销景象。在茅台官方直销平台"i茅台"上，飞天茅台已连续20多天 售罄。为缓解订单激增带来的发货压力，近日i茅台宣布在原有贵阳发货仓的基础上，新增南京、北京 两大发货仓，以提升配送效率。 来源：综合 国泰海通研报指出，白酒企业开门红回款发货正在进行中，预计动销高峰将于2月到来。批价方面，茅 台市场化转型如火如荼，i茅台销售火热，同时线下渠道普飞批价小幅回升，催生了茅台需求增量，关 注后续2月及节后价格表现。 展望后市，中信证券研报认为，白酒行业或在新改革和新方向下重新聚焦市场培育和消费者教育，促进 开瓶动销并为经销商减负。综合考虑到动销已逐步平稳 ...

Core Viewpoint - The white liquor sector experienced a significant collective surge on January 29, 2026, with 18 out of 20 stocks reaching their daily limit, resulting in a total market value increase of over 252.6 billion yuan, primarily driven by the performance of Kweichow Moutai, which alone saw a market value increase of over 140 billion yuan [1][2][5]. Group 1: Market Performance - On January 29, 2026, the white liquor stocks initially opened flat but later exhibited a strong upward trend, with all 20 stocks showing a "climbing" pattern throughout the day [3][6]. - Kweichow Moutai and Shunxin Agriculture, while not hitting the limit, recorded significant gains of 8.61% and 9.96%, respectively, with Moutai's stock closing at 1437.72 yuan per share [5][6]. - The surge in the white liquor sector was unexpected for investors, who expressed surprise at the sudden rise after a prolonged period of low performance [6][10]. Group 2: Industry Turning Point - The collective rise in white liquor stocks has led to speculation about a potential turning point for the industry, attributed to factors such as the price increase of Moutai and the upcoming Spring Festival consumption peak [7][10]. - The price of Moutai's original box has risen to 1610 yuan per bottle, indicating a recovery from previous lows [7][9]. - Analysts from CITIC Securities have optimistic expectations for the Spring Festival sales, predicting stable sales performance due to various favorable factors [7][10]. Group 3: Valuation Recovery Logic - The current valuation of white liquor stocks is at a low point, with the China Securities White Liquor Index reflecting a price-to-earnings ratio of 18.85, close to historical lows [10][11]. - The market's expectation for a rebound is growing, especially as leading white liquor companies have adjusted their profit forecasts for 2025-2026, enhancing the perceived safety margin for investors [10][11]. - Structural changes within the industry, such as inventory clearance and price control mechanisms, are crucial for sustaining the recovery of white liquor stocks [11][12][16]. Group 4: Structural Changes - The pressure on leading liquor companies regarding inventory has eased, with companies like Wuliangye managing to reduce channel inventory to 1-2 months [11][12]. - Price control reforms are being implemented, with Moutai and Wuliangye adopting strategies to stabilize prices and support distributors [12][16]. - The effectiveness of these structural reforms will be essential for validating the recovery of demand in the white liquor sector [11][17].

Core Viewpoint - The market price of Feitian Moutai has risen 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 [2][3]. Market Dynamics - The demand for Moutai has exceeded expectations, with some distributors describing the current purchasing power as "massive" [2]. - As the Spring Festival approaches, many distributors have already fulfilled their quotas for January and February, potentially leading to a situation where demand surpasses supply, driving prices upward [2][7]. - The recent price surge is attributed not only to seasonal demand but also to the introduction of the "i Moutai" platform, which has expanded the consumer base beyond traditional channels [2][6]. Price Trends - The market price for original box Feitian Moutai is currently between 1710 yuan and 1770 yuan per bottle, with single bottle prices ranging from 1650 yuan to 1700 yuan, reflecting daily increases of 100 to 160 yuan for boxes and 80 to 130 yuan for single bottles [6]. - The price fluctuations have been significant, with reports of multiple price increases within a single day as demand spikes ahead of the holiday [2][3]. Consumer Behavior - The "i Moutai" platform has attracted a large number of new consumers, many of whom are not traditional channel customers, indicating a shift in the consumer demographic [6]. - There is a concern that the current surge in demand may be driven by short-term holiday gifting needs, and the long-term purchasing behavior of new consumers remains uncertain [8][9]. Future Outlook - Market sentiment is cautiously optimistic, with many believing that the current price levels may stabilize post-Spring Festival, contingent on supply management by Moutai [7][8]. - Some distributors express concerns about the sustainability of the price increases, noting a decline in group purchase customers and a potential drop in demand after the holiday season [9].