锡业股份杨佳炜 水晶光电韩莉 中国中车王健 海油发展肖德斌 富安娜李艳 比亚迪李黔 南网科技赵子艺 齐心集团王占君 中原高速杨亚子 和远气体李吉鹏 奥士康尹云云 中晟高科邱洪涛 东方钽业秦宏武 冰轮环境孙秀欣 陕西能源徐子睿 璞泰来张小全 今世缘王卫东 天齐锂业张文宇 久日新材郝蕾 慈星股份杨雪兰 ...

证券之星消息，12月26日白酒板块较上一交易日下跌0.34%，*ST岩石领跌。当日上证指数报收于 3963.68，上涨0.1%。深证成指报收于13603.89，上涨0.54%。白酒板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 615009 | 贵州茅台 | 7403.88万 | 2.94% | -7391.42万 | -2.93% | -12.46万 | 0.00% | | 616809 | 金徽酒 | 351.92万 | 3.37% | -89.61万 | -0.86% | -262.31万 | -2.51% | | 600696 | *ST岩石 | -223.54万 | -9.96% | -185.50万 | -8.27% | - 409.03万 | 18.23% | | 6610009 | 金种子酒 | -337.89万 | -4.92% | -328.71万 | -4.79% | 6 ...

Group 1 - The report indicates that the liquor industry is currently facing supply-demand imbalances, with companies reducing growth expectations and releasing channel pressures. The white liquor index has dropped by 12% since the beginning of 2025, underperforming the CSI 300 index by 33% [1][11] - The report highlights that the overall market demand for white liquor has shown slight recovery, but actual demand remains weak, with mainstream product prices in a downward trend. Companies like Wuliangye and Gujing Gongjiu are reducing growth expectations, leading to significant declines in Q3 performance [1][22] - The report suggests that the white liquor sector is entering a configuration phase, with leading companies like Kweichow Moutai improving their price-volume relationship and showcasing dividend asset attributes, with a projected dividend yield of 4% in 2026 [3][4] Group 2 - Looking ahead to 2026, the report anticipates that supply-side optimization and channel clearing will occur, with a focus on quality company configurations. The industry is expected to see gradual recovery in demand, particularly during the Spring Festival sales period [2][29] - The report notes that channel inventory has decreased since Q3 2025, and companies are focusing on maintaining dynamic profits for distributors. Leading companies are gradually relaxing channel policies, indicating a stabilization trend in product prices post-holiday [2][42] - The competitive landscape is shifting from price differentiation to brand and organizational capabilities, with companies that can establish pricing power in specific regions or demographics likely to emerge from the adjustment cycle first [2][29] Group 3 - Investment recommendations suggest that the white liquor sector is now in a configuration zone, with a focus on brands that can navigate through cycles, such as Kweichow Moutai and Shanxi Fenjiu, which are expected to see valuation improvements as market liquidity increases [3][4] - The report emphasizes the importance of companies that have established advantages in pricing and regional market share during the adjustment phase, such as Luzhou Laojiao, Gujing Gongjiu, and Jinhui Liquor [3][4] - The report also highlights companies with strong shareholder returns and cash flow safety margins, such as Wuliangye, as potential investment opportunities [3][4]

Core Viewpoint - The liquor sector experienced a rise of 1.13% on December 25, with Shui Jing Fang leading the gains, while the Shanghai Composite Index rose by 0.47% and the Shenzhen Component Index increased by 0.33% [1] Group 1: Liquor Sector Performance - Shui Jing Fang (600779) closed at 39.80, up 10.01% with a trading volume of 111,100 shares [1] - Other notable performers include Sanlong Jibei (000995) with a 4.37% increase, and Quan Wei Jiu (616809) rising by 3.08% [1] - The total net inflow of funds into the liquor sector was 874 million yuan, while retail investors saw a net outflow of 325 million yuan [1] Group 2: Fund Flow Analysis - Major net inflows were observed in Kweichow Moutai (600519) with 319 million yuan, accounting for 9.67% of the total [2] - Shui Jing Fang (600779) had a net inflow of 154 million yuan, representing 35.78% of its trading volume [2] - The retail investor net outflow for Shui Jing Fang was 93.49 million yuan, indicating a significant withdrawal from this stock [2]

Group 1 - The A-share market saw a rapid increase in liquor stocks, with Shui Jing Fang hitting the daily limit, Huangtai Liquor rising over 6%, and Jiu Gui Jiu increasing nearly 5% [1] - Other notable performers included Jin Hui Jiu and She De Jiu Ye, both rising over 3% [1] Group 2 - The liquor index showed a gain of 1.36%, reaching 5989.43 points [2] - Shui Jing Fang had a significant increase of 10.01%, with a total market value of 194 billion [2] - Huangtai Liquor rose by 6.98%, with a market value of 23.91 billion [2] - Jiu Gui Jiu increased by 4.99%, with a market value of 189 million [2] - Jin Hui Jiu and She De Jiu Ye saw increases of 3.63% and 3.22%, respectively, with market values of 104 billion and 197 billion [2]

12月20日下午，"今世有缘，相伴扬子"扬子晚报创刊40周年书画名家笔会暨今世缘（603369）创牌30周年书画名家迎春活动在扬子晚报11楼中庭盛大举 行。在活动期间，今世缘酒业高级总监兼南京大区副总经理、国缘推广中心经理牛海军接受扬子晚报专访，分享了今世缘与扬子晚报的情缘以及今世缘酒 业的文化魅力。 1996年，今世缘在南京首次亮相，大获成功，南京成为了今世缘发展历程中的"福地"，此后今世缘与扬子晚报保持着密切合作。"十四五"以来，今世缘 从"十三五"末的营收50亿元，成长到2023年营收突破100亿元，位列中国白酒上市公司第七位，近四年为国家贡献税收近130亿元。这份耀眼的成绩单一方 面得以于江苏这片营商沃土的滋养，另一方面也得益于今世缘苦练内容，这些年来在文化升维、品牌升维、品质升维、人才升格、情怀升华几方面做足功 课。 今世缘酒业建立了以"缘"为核心的文化体系，以文化兴企，打造发展的"隐形翅膀"。"'以缘载道、以缘立誉'是今世缘的根与魂，而'缘'恰恰是连接酒文化 与书画艺术的天然纽带。"牛海军表示，酒是情感的催化剂，书画是意境的表达者，无论是老友相聚的酣畅、事业合作的默契，还是对美好生活的向往， 酒与 ...

Group 1 - The liquor sector experienced a decline of 0.66% on December 19, with *ST Rock leading the drop [1] - The Shanghai Composite Index closed at 3890.45, up 0.36%, while the Shenzhen Component Index closed at 13140.22, up 0.66% [1] - Key stocks in the liquor sector showed varied performance, with Yingjia Gongjiu rising by 3.09% to a closing price of 40.09, and *ST Rock falling by 4.91% to 3.29 [2] Group 2 - The liquor sector saw a net outflow of 564 million yuan from institutional investors, while retail investors contributed a net inflow of 264 million yuan [2] - Major stocks like Wuliangye and Moutai had minimal price changes, with Wuliangye at 110.53 (up 0.09%) and Moutai at 1410.00 (up 0.21%) [2] - The liquidity dynamics showed that retail investors were more active, with significant inflows into stocks like Yingjia Gongjiu and Yanghe Co., despite overall institutional outflows [3]

Core Viewpoint - The company management emphasizes its focus on core business operations and aims to enhance intrinsic value and long-term competitiveness, dismissing rumors about a potential sale of the company as unfounded [2] Group 1 - The company is currently operating normally in terms of production and business activities [2] - Management reassures investors regarding the stability and direction of the company amidst speculation [2]

Investment Rating - The report maintains a "Positive" outlook for the food and beverage industry, indicating a potential for returns exceeding the market benchmark by over 5% [5]. Core Insights - The food and beverage sector is currently in a favorable position for investment, with a focus on valuation before performance. The report suggests that despite recent adjustments in the sector, there is fundamental support for new consumption trends, and stock prices have absolute upside potential [7][4]. - Short-term trading strategies should focus on "individual stock improvement" and "turnaround opportunities," recommending specific stocks such as Miaokelan Duo (600882), Jinshiyuan (603369), Gujing Gongjiu (000596), and Shede Liquor (600702) for buying [3]. - Structural dividends are expected to continue, with recommendations for Dongpeng Beverage (605499) and Yanjinpuzi (002847) [3]. - The report highlights a stabilization in demand or market share, recommending stocks like Kweichow Moutai (600519), Shanxi Fenjiu (600809), Luzhou Laojiao (000568), Qingdao Beer (600600), and Yili Group (600887) for buying [3]. Summary by Sections - **Market Conditions**: The food and beverage industry is experiencing pressure on both volume and price, primarily influenced by macroeconomic factors and consumer sentiment. High-end consumption is performing better than low-end, with emerging channels outpacing traditional ones. Categories like snacks and beverages are expected to maintain relative prosperity, while dairy and beer are projected to see structural growth [7][4]. - **Mid-term Trends**: New consumption remains a key theme, with expanding demand in categories such as health foods and pet foods. Instant retail channels are showing high growth, although discount formats and high-end retail are slowing down compared to traditional supermarkets [7][4]. - **Future Outlook**: The report anticipates that the food and beverage sector will transition from valuation-driven growth to performance-driven growth in 2026, with expectations of a performance bottom in the first quarter of 2026 for the liquor segment [7][4].

（原标题：今世缘12月12日大宗交易成交203.00万元） 进一步统计，近3个月内该股累计发生9笔大宗交易，合计成交金额为1913.23万元。 证券时报•数据宝统计显示，今世缘今日收盘价为34.89元，上涨0.55%，日换手率为0.60%，成交额为 2.64亿元，全天主力资金净流入448.20万元，近5日该股累计下跌4.10%，近5日资金合计净流出8647.47 万元。 两融数据显示，该股最新融资余额为3.77亿元，近5日增加1081.79万元，增幅为2.95%。 据天眼查APP显示，江苏今世缘酒业股份有限公司成立于1997年12月23日，注册资本124680.0037万人 民币。（数据宝） 今世缘12月12日大宗交易平台出现一笔成交，成交量6.50万股，成交金额203.00万元，大宗交易成交价 为31.23元，相对今日收盘价折价10.49%。该笔交易的买方营业部为华泰证券股份有限公司淮安涟水红 日大道证券营业部，卖方营业部为华泰证券股份有限公司淮安涟水红日大道证券营业部。 12月12日今世缘大宗交易一览 | 成交 | 成交 | | 相对当 | | | | --- | --- | --- | --- | -- ...