2月5日，A股延续回调态势，双创指数跌幅靠前，市场亏钱效应明显，3719只个股收绿，抛压集中于有色等资源股及通信等科技股，白酒、银行股相对抗 跌。 受访人士指出，今日缩量下跌体现节前避险情绪升温与存量资金高低切换，预计节前A股大概率震荡磨底。当前建议投资者保持中等仓位，保留现金灵活 性，可逢低分批布局白酒板块，不宜急于"抄底"科技、资源股，暂不建议盲目上车券商板块。 量能大幅萎缩 指数跌多涨少，沪指收跌0.64%报4075.92点，创业板指收跌1.55%报3260.28点，深证成指收跌1.44%。沪深300、上证50微跌，科创50跌逾1%，北证50跌 逾2%。 前两日交易量能微降，今日三市成交额缩减3090亿元，降至2.19万亿元。近期杠杆资金热度明显下降，截至2月4日，沪深京两融余额降至2.69万亿元。 市场亏钱效应明显，3719只个股收跌，跌停股23只；1618只个股收涨，涨停股56只。随着交易量缩减，今日成交额超百亿元个股仅9只，多数热门股收 跌，新易盛（300502）、紫金矿业（601899）跌幅均超4%，蓝色光标（300058）、天孚通信（300394）跌近6%。贵州茅台（600519）收涨1.97 ...

Group 1 - The liquor sector continues its rebound, with the China Securities Liquor Index achieving a four-day consecutive rise as of February 5 [1] - Individual stocks such as Huangtai Liquor increased nearly 6%, while Kweichow Moutai, Shede Liquor, and Gujing Gongjiu rose over 1%, with Kweichow Moutai reaching a nearly nine-month high since May 2025 [1] Group 2 - Kweichow Moutai's stock price rebounded sharply after a nine-day decline, rising 17.5% since January 29, outperforming 98.6% of other stocks during the same period [3] - On January 29, Kweichow Moutai surged 8.6%, with a trading volume of 26.3 billion yuan, marking the third-highest single-day increase since the "924" market [3] Group 3 - Kweichow Moutai's market capitalization reached 1.9 trillion yuan as of February 5, ranking third in the market, behind Agricultural Bank of China and Industrial and Commercial Bank of China [4] - The liquor sector saw an average increase of nearly 11.6% across 20 concept stocks over the past seven trading days, with a median increase of 10.1% [4] - Notable performers included Huangtai Liquor and Jinhui Liquor, with increases of 60.1% and 22.2%, respectively, and multiple trading halts [4] Group 4 - The average price of the liquor sector has risen to 127.07 yuan, reclaiming the top position in the Shenwan secondary sector rankings [4] - The wholesale price of Feitian Moutai has been steadily increasing, reaching 1,665 yuan per bottle on February 4, up 40 yuan from the previous day, and a total increase of 125 yuan over the past two weeks [4] - The price recovery reflects the effectiveness of Kweichow Moutai's market-oriented transformation, with the launch of the "i Moutai" platform alleviating channel inventory pressure and adjusting market expectations for high-end liquor demand [4]

Core Viewpoint - The food and beverage sector is showing strong performance, with the Huabao Food and Beverage ETF (515710) experiencing a notable increase, reflecting positive market sentiment in this industry [1][3]. Group 1: Market Performance - The Huabao Food and Beverage ETF (515710) opened with a rapid increase, reaching a maximum intraday gain of 1.84%, and closed with a 1% increase [1]. - Major consumer goods stocks performed well, with Tianwei Food surging over 7% and Qianhe Flavor rising more than 6% [1]. - Leading liquor brands also showed strong performance, with Kweichow Moutai increasing nearly 2% and Wuliangye and Yanghe also seeing slight gains [1]. Group 2: Industry Insights - The recent Hu Run Research Institute report highlighted Kweichow Moutai's brand value at 795 billion yuan, ranking second overall and first among Chinese brands [2]. - The liquor sector is expected to see a recovery in demand, with traditional channel prices for Moutai rebounding to over 1600 yuan, indicating a potential bottom signal for the industry [3]. - The food and beverage sector is currently at a low valuation, with the price-to-earnings ratio of the underlying index for the ETF at 20.93, which is at the 11.74% percentile of the past decade, suggesting a favorable long-term investment opportunity [3]. Group 3: Future Outlook - The industry is anticipated to experience a gradual recovery in demand as policy pressures ease, with expectations for clearer industry consolidation and improved pricing signals [4]. - The Huabao Food and Beverage ETF is positioned to capture core assets in the food and beverage sector, with approximately 60% of its portfolio allocated to leading high-end and mid-range liquor stocks [4][5].

Core Viewpoint - The food and beverage sector continues to show strong performance, with the Huabao Food and Beverage ETF (515710) experiencing a notable increase, reflecting positive market sentiment in this industry [1][9]. Market Performance - The Huabao Food and Beverage ETF opened with a rapid rise, achieving an intraday peak increase of 1.84%, and closing with a 1% gain [1][9]. - Among the constituent stocks, consumer goods led the gains, with Tianwei Food surging over 7% and Qianhe Flavor rising more than 6%. Major liquor brands also performed well, with Kweichow Moutai increasing nearly 2% and Wuliangye and Yanghe also showing slight gains [1][9]. Industry Insights - According to the Hurun Research Institute, Kweichow Moutai ranks second in brand value at 795 billion yuan, maintaining its position as the top Chinese brand. The top three liquor brands are Kweichow Moutai, Wuliangye, and Guojiao 1573, with a total of 30 liquor brands listed [2][12]. - Open-source securities indicate that the demand for Moutai remains strong despite increased supply, with traditional wholesale prices rebounding to over 1,600 yuan, signaling a potential bottom for the liquor sector [3][11]. - The food and beverage sector is currently at a low valuation, with the price-to-earnings ratio of the ETF's underlying index at 20.93, positioned at the 11.74% percentile over the past decade, highlighting attractive long-term investment opportunities [3][11]. Future Outlook - Aijian Securities suggests that the liquor industry is entering a phase of rapid performance recovery, with demand expected to gradually improve as policy pressures ease and consumption expands [4][12]. - The industry is anticipated to see clearer trends in performance recovery, with leading companies increasing dividend payouts, enhancing their attractiveness for investment [4][12]. - The Huabao Food and Beverage ETF is recommended for investors looking to gain exposure to core assets in the food and beverage sector, with approximately 60% of its portfolio allocated to leading high-end and mid-range liquor stocks [5][12].

Market Overview - The Hang Seng Index opened lower but managed to close up by 0.14% [1] - The geopolitical situation remains stable, with Iran set to negotiate nuclear issues with the U.S. on February 6 [1] - Gold and silver prices fell significantly, with silver dropping over 14% and gold falling more than 2% to below $4,900 per ounce [1] International Relations - Russian President Putin plans to visit China in the first half of 2026 following a video call with Chinese leaders [2] - U.S. and Chinese leaders had a positive discussion regarding regional issues and economic cooperation, with a planned visit by Trump to China in April [2] - China has requested state-owned enterprises to pause new investment projects in Panama [2] Technology Sector - Despite declines in U.S. tech stocks, some Chinese tech companies like Naxin Micro (02676) reported strong earnings and plan to raise product prices by 10%-25% [3] - Baidu (09888) announced a stock buyback plan of up to $5 billion and plans to introduce a dividend policy by 2026, leading to a nearly 3% increase in its stock price [3] - Xiaomi (01810) repurchased shares worth HKD 146 million, also seeing a nearly 3% rise [3] - Tencent (00700) is expected to maintain double-digit growth in its gaming business by 2026, with advertising revenue projected to grow around 20% [3] Consumer Sector - Kweichow Moutai (600519.SH) has shown strong performance, boosting consumer valuations [4] - Oriental Selection (01797) surged over 10% due to its unique brand and membership model [4] - Pop Mart (09992) reported significant demand for its new products, with resale prices on secondary markets showing substantial premiums [4] Restaurant Sector - Yum China (09987) reported total revenue of $11.797 billion for 2025, a 4% increase year-on-year, with net profit rising by 2% [5] - Haidilao (06862) is seeing positive impacts from the return of its founder, with plans for expansion and new brand growth [5] - Brainstorm Aurora-B (06681) announced a strategic partnership to promote digital health products in Southeast Asia, with a significant stock price increase of over 15% [6] Energy Sector - The U.S. is experiencing a surge in natural gas power generation capacity, with over 29 GW under construction, but many projects may face delays due to a lack of available gas turbines [7] - Companies like Eagle Precision (01286) and Dongfang Electric (01072) are positioned to benefit from this trend, with expectations of increased demand for gas turbine components [7] Aviation Sector - Cirrus Aircraft (02507) launched the new G3 Vision Jet, enhancing its product line and expected to improve profit margins [8] - The new jet model is designed for private and corporate users, featuring significant upgrades in safety and comfort [8] - Cirrus is projected to deliver approximately 800 aircraft in 2025, with new orders expected to reach around 600 units [9]

A股复盘 | 空仓吧 / 2026.02.05 千万不要小看自己！砸的全是你买的！ 更可怕的是，A股收盘了，港股开始拉了， 金银跌幅也收窄了！ 还是那句话，摆脱了原生家庭的拖累！ | 今年 | 26627.95 | 最高 | 26919.39 | 成交量 | | | --- | --- | --- | --- | --- | --- | | 昨收 | 26847.32 | 最低 | 26410.77 | 成交额 3151.12亿 | | | 振幅 | 1.89% | 涨跌额 Ball of the many of the many of the comments of the comments of the may be the | +37.92 | 涨跌幅 | +0.14% | 群友还想了个"套利"方法 3点收盘 港股狂拉 明天9.15大A看盘散户抢 港股开始砸 一来一回散户一面内 z 2-5 15:04:50 主力港股A股两边收割 你为人类社会做过什么贡献? 原创 梁狗蛋 梁狗蛋 2026年2月5日 14:59 上海 6 8人 ☆ 星标 包括但不限于： 多选 我通过买入贵金属,阻止了即将发生的美伊冲突 我 ...

茅台酒需求的火爆，既让相关平台陷入短暂瘫痪，也让相关个股股价被推到新高。 2月5日，南都湾财社-酒水新消费指数课题组记者留意到，有多名消费者反映，早上9点登录i茅台购买 茅台酒的页面时，页面显示加载但迟迟无法打开，最终显示"点击重试"，多次刷新后也无法进入。不过 到了9点30分，相关页面恢复正常，同时飞天茅台显示售罄。 南都湾财社记者在5日多个时间段进入茅台页面，发现相关页面显示正常，但多个产品已售罄。截至发 稿前，i茅台方面尚未就相关情况作出回应。 不过，i茅台页面加载困难，反映出相关产品的市场需求。 此前贵州茅台披露数据显示，今年1月，i茅台新增了628万名新用户，月活用户超1531万。实际成交量 方面，在53%vol 500ml贵州茅台酒（即飞天茅台），马年生肖酒、鼓乐飞天以及精品茅台酒上线后，超 过145万人次购买了产品，成交订单超212万笔，其中飞天茅台的成交订单超143万笔。如果按照活跃用 户计算，每天成交的用户占比约13.84%，而买到飞天茅台的用户占约9.34%。 值得注意的是，由于今年春节旺季需求向好，飞天茅台全国多地供应偏紧，渠道库存有限，其中部分区 域已申请追加配额，有部分经销商甚至表示 ...

春节临近，飞天茅台行情持续升温，抢购模式遭到质疑。 2月5日上午，贵州茅台（600519）旗下官方自营数字营销平台"i茅台"app再度出现技术故障。 不少网友反映，自己准备抢购1499元飞天茅台，到抢购时间上线后发现app页面无法正常加载，反复出现"点击重试"提示，多次刷新也无果。 另有参与抢购者表示，即便成功进入页面，也无法下单，页面直接显示"已售罄"，且i茅台客服热线也一直无法接通。 水芙蓉 摄 针对这一现象，贵州茅台证券部接线工作人员回应称："近期都是一瓶难求的状态。因为订单暴增，电话咨询也比较多。" 图源网络 此类抢购"故障"已持续了一段时间。 自1月1日53度飞天茅台（普茅）正式在i茅台上线后，"准时上线却抢不到"的大有人在。该产品以云购抢购方式进行，每日9:09开售、每5分钟补货，"拼手速 先到先得"。 随着春节临近，飞天茅台的抢购难度进一步加大，部分消费者开始质疑抢购模式的合理性，认为之前的申购形式更好。此前，i茅台上的茅台生肖酒、精品 酒等热门产品主要以申购形式售卖，每天固定时间段集中摇号、随机抽签，且账号、场次和产品均有限制，这种模式下能否购买成功主要取决于运气。 不可否认的是，抢购模式一定 ...

Investment Rating - The industry investment rating is "Leading the Market" [6] Core Insights - The report indicates that the consumer demand in 2026 is expected to improve, and given the low level of active equity fund holdings in the food and beverage sector, the rating of "Leading the Market" is maintained [6] Summary by Sections Overall Sector Performance - In Q4 2025, the active equity fund's heavy holdings in the food and beverage sector decreased slightly, with an overweight ratio increasing by 0.2 percentage points. The total market capitalization of the food and beverage sector was 43,559 billion, down 5.36% from Q3 2025, underperforming the CSI 300 index by 4.64 percentage points [6][8] Subsector Analysis - In Q4 2025, the heavy holdings in the liquor sector decreased, while the heavy holdings in the consumer goods sector increased. The heavy holdings in liquor were 2.93%, down 0.25 percentage points, while the consumer goods sector's heavy holdings were 1.12%, up 0.15 percentage points [6][19] Key Companies - Only Kweichow Moutai entered the top 20 heavy holdings of active equity funds in the food and beverage sector. The heavy holding ratio for Kweichow Moutai remained stable, while other liquor companies like Shanxi Fenjiu and Luzhou Laojiao saw decreases [6][36] Stock Connect Analysis - In Q4 2025, the food and beverage sector's holdings in the Stock Connect accounted for 5.4% of the total market value, down 0.92 percentage points, with an overweight ratio of +1.52 percentage points [6][39] Investment Recommendations - The report suggests that the food and beverage sector is positioned for potential growth, with a maintained rating of "Leading the Market" due to expected improvements in consumer demand and low fund holdings [6]

从个股来看，贵州茅台收盘价达1555元/股，上涨1.97%；五粮液收盘价达108.89元/股，上涨0.34%；山 西汾酒收盘价180.21元/股，下跌0.2%；泸州老窖收盘价达125.46元/股，下跌0.67%；洋河股份收盘价达 55.78元/股，上涨0.31%。 北京商报讯（记者 刘一博 冯若男）2月5日尾盘，沪指4075.92点下跌0.64%。白酒板块以2316.81点收盘 上涨0.2% ，其中12只白酒股下跌，贵州茅台1555元/股收盘。 值得关注的是，贵州茅台于当日盘中逆势拉升，股价最高至1564.9元/股，总市值达1.96万亿元。截至收 盘，贵州茅台总市值约1.95万亿元。 开源食饮在其研报中指出，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。 ...