记者从北京市顺义区1月13日举行的新闻发布会获悉，"十四五"时期，顺义区奋力推动港产城融合发 展，较好完成"十四五"规划主要目标任务，区域现代化建设实现良好开局。过去五年，顺义区GDP年均 增长5.5%左右，总量达到2500亿元，现代化产业体系加快构建。 顺义区发展改革委党组书记、主任马卫国介绍说，过去五年，顺义区服务首都功能建设不断强化，成功 举办HICOOL全球创业者峰会等高水平国际化、品牌化活动，2025年实现参赛项目和参赛人数"双破 万"。首都国际机场通达航点达到227个，航线覆盖广度全国第一。首都机场临空经济区发展指数连续三 年排名全国首位。中德示范园区品牌效应持续增强，集聚德企超120家，隐形冠军企业达27家。 "'十五五'时期，我们将加速形成'以港兴产、以产促城、港城一体'的港产城深度融合发展局面，加快塑 造 以先进制造业为骨干，开放创新、两业融合、集约高效的现代化产业体系。"马卫国说。 顺义区经济和信息化局党组书记、局长周靖慧说，作为北京高端制造业大区，顺义区重点产业发展展现 新成效。新能源智能汽车领域对工业支撑作用进一步凸显，智能网联汽车配套产业成功入选国家级中小 企业特色产业集群。在第三代 ...

从资金流向上来看，当日非白酒板块主力资金净流出7660.75万元，游资资金净流入3265.23万元，散户资 金净流入4395.52万元。非白酒板块个股资金流向见下表： | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600616 会枫酒业 | | 1060.93万 | 14.45% | -276.20万 | -3.76% | -784.73万 | -10.69% | | 000869 | 张裕A | 157.66万 | 5.66% | -66.18万 | -2.38% | -91.47万 | -3.29% | | 603779 威龙股份 | | 10.41万 | 0.25% | -28.04万 | -0.67% | 17.63万 | 0.42% | | 600543 莫高股份 | | -252.64万 | -4.67% | 395.66万 | 7.32% | -143.02万 | -2.65% | | 600084 ...

Core Insights - The overall sales performance of offline channels in the food and beverage sector is under pressure for the period of January to December 2025, with notable differentiation in the soft drink industry across various segments [1] - Functional beverages and ready-to-drink juices are maintaining high single-digit growth, while the snack food category shows strong growth in konjac products and healthy snacks [1] Beverage Sector - Beer sales are under pressure with a year-on-year decline of 6.7% in sales for January to December 2025, although average prices continue to rise [2] - Ready-to-drink cocktails have seen a cumulative year-on-year sales decline of 9.9%, while the market share of the brand Rio remains stable [2] - The soft drink industry shows varied performance across segments, with functional beverages experiencing a year-on-year sales increase of 9.3% and ready-to-drink juices seeing an average price increase of 7.8% [2] Dairy Products - The demand for dairy products continues to face pressure, although there is a quarter-on-quarter improvement in Q4 2025 [2] - Leading dairy companies are performing relatively well in the low-temperature yogurt segment, which is positively impacting overall yogurt performance compared to the broader dairy market [2] Condiments and Snacks - Basic condiments prioritize price, with leading brands continuing to capture market share [3] - The performance of spicy snack foods shows significant differentiation, with konjac products and certain specialty items providing crucial support [3] - Healthy snacks are experiencing notable growth, while the nut and dried fruit category is under pressure due to the timing of the Spring Festival affecting December sales [3] - Sweet snacks are generally underperforming, with widespread year-on-year declines [3] Frozen Foods - Hot pot ingredients are showing a trend of volume growth with stable prices, while competition remains fierce in the frozen dumpling and tangyuan markets [3] - By December 2025, the frozen food sector enters a peak stocking phase, with hot pot ingredients, frozen prepared foods, and frozen snacks achieving year-on-year growth, while frozen dumplings and tangyuan continue to face pressure [3] Recommendations - Recommended stocks in the A-share market include Anjuke Food, Yanjinpuzi, New Dairy, Ximai Food, Yanjing Beer, Dongpeng Beverage, Yili Group, Qianhe Flavor, and Haitian Flavor [4] - Recommended stocks in the H-share market include Weilong, Gu Ming, Master Kong, Uni-President China, Nongfu Spring, China Resources Beer, Mengniu Dairy, and Qingdao Beer [4]

截至2025年三季度，顺义区旅游接待1190万人次，旅游收入132.1亿元，同比增长4.4%和10.3%。 顺义区是制造业大区，有很多大家耳熟能详的工业品牌，2025年，顺义区已经成功将牛栏山二锅头酒文 化苑、"爱慕"时尚工厂以及北汽越野智能工厂，这三个点作为北京市工业旅游示范项目。今年，顺义区 将在工业旅游项目上发力，深化"文旅+工业"，开发兼具观光与互动的工业时尚旅游项目。 此外，依托新国展展会资源，聚焦"会、展、食、宿、娱、游、购"全链条服务，顺义区将紧抓车展等热 门大展，升级推出"会展票根"多元化叠加举措，联动周边景点、酒店、旅游新业态等，推出"观展+游 玩"套餐，进一步提升游客消费体验，实现会展人流向文旅消费高效转化，利用会展经济与文旅的双向 赋能。 顺义区委宣传部分管日常工作的副部长、区文化和旅游局党组书记、局长卢海珀透露，2026年，顺义区 还将拓展公共文化空间，持续打造一批"类博物馆"、演艺新空间、"城市会客厅"等新型公共文化场所， 同时营造多元开放创作环境，计划全年引进精品演出不少于45场，开展群众文化活动3000场以上，带动 优质资源集聚荟萃。 新京报讯(记者耿子叶)1月13日，记者从顺义 ...

[Table_Reportdate] 2026年01月13日 超配 [证券分析师 Table_Authors] 姚星辰 S0630523010001 yxc@longone.com.cn 证券分析师 吴康辉 S0630525060001 wkh@longone.com.cn -10% -5% 0% 5% 10% 15% 20% 25% 30% 2025-01 2025-03 2025-05 2025-07 2025-09 2025-11 2026-01 食品饮料(申万) 沪深300 [相关研究 table_product] 1.青岛啤酒（600600）：结构升级韧 性强，全年预计稳定增长——公司简 评报告 2.燕京啤酒（000729）：U8韧性较强， 改革持续兑现——公司简评报告 3.千味央厨（001215）：渠道拓展初 见成效，期待市场需求改善——公司 简评报告 [Table_NewTitle 食品价格]继续改善，消费潜力不断释放 ——食品饮料行业周报（2026/1/5-2026/1/11） [table_main] 投资要点： ➢ 风险提示：宏观经济增长不及预期；竞争加剧的影响；食品安全的影响。 行 业 ...

Investment Rating - The report rates the beer industry as "Buy" [1] Core Insights - The beer industry is entering a new normal characterized by stock competition, with structural opportunities arising from category and channel changes. The demand for beer in China has been gradually declining in 2023, and it is expected to follow a long-term downward trend similar to overseas experiences. The average selling price (ASP) of leading companies is projected to increase by only 0.4% in 2024 due to weaker-than-expected demand recovery and inflation decline [4][7] - The rise of craft beer represents a significant opportunity for the industry, with leading companies likely to benefit from this trend. The penetration rate of craft beer in China is estimated to be around 3%, which is still significantly lower than the 5-15% levels seen in developed countries [4][20] - New retail channels are rapidly growing, driven by consumer demands for convenience, rationality, and differentiation. The estimated sales of beer through new retail channels are around 30 billion yuan, with a penetration rate of approximately 6% and an annual growth rate of about 20% [4][61] Summary by Sections 1. Industry New Phase: Stock Era, Channel Change, Craft Beer Rise - The beer industry in China is experiencing a new normal with both volume and price entering a downward trend. The production volume is expected to decline by 0.4% in 2023 and 1.0% in 2024 [7][4] - The concentration of leading companies is expected to decrease slightly, with the CR5 ratio projected to drop by 3.5 percentage points to around 74.8% in 2024 [14][4] 2. Category Change: Demand Shift Creates Opportunities, Large Companies to Benefit - The demand for beer in China is at a turning point, with potential for big single product opportunities. The younger generation is becoming the main consumer group, leading to a shift in drinking culture towards personal preference [23][24] - The craft beer market is expected to grow significantly, with an estimated annual growth rate in sales exceeding double digits. The penetration rate of craft beer is projected to reach around 3% by 2025 [29][30] 3. Channel Change: Demand Stock Competition, Impact on Structure Manageable - The structure of beer distribution channels is changing, with a decline in traditional on-premise sales and an increase in new retail channels. The new retail channel is expected to account for about 6% of total beer sales, with significant growth in instant retail and membership warehouse stores [56][61] - The rapid growth of new retail channels is driven by improved logistics efficiency and changing consumer preferences for convenience and differentiated products [57][61]

证券日报网讯1月12日，燕京啤酒（000729）在互动平台回答投资者提问时表示，截至2026年1月9日， 公司股东总户数为45767户。 ...

187只股公布截至1月10日最新股东户数，相比上期股东户数下降的有81只，降幅居前的是亚翔集成、燕 京啤酒、浙江华远等。 其次是燕京啤酒，截至1月10日最新股东户数为45767户，较12月31日下降16.65%，筹码集中以来该股 累计上涨7.48%，累计换手率为8.37%，其间主力资金净流出8696.71万元。 市场表现方面，最新一期筹码集中股1月1日以来平均上涨3.93%，涨幅居前的有亚翔集成、联发股份、 图南股份等，分别上涨30.46%、25.91%、13.28%。所属行业来看，筹码集中股中汽车、机械设备、电 子等行业最为集中，分别有10只、9只、6只个股上榜。 最新筹码集中股业绩 投资者除了在定期报告中获得股东信息数据外，还可以在交易所互动平台上通过提问方式了解部分公司 更及时（每月10日、20日、月末）的股东户数信息。以往3期分别有878家、1052家、1032家公司在互动 平台透露了股东户数，截至发稿，共有187家公司公布了截至1月10日股东户数。 上期筹码集中股回测：42%跑赢沪指 证券时报·数据宝对上一期(12月31日)筹码集中股监测显示，这些股12月21日以来平均上涨7.76%，走势 强于同期 ...

截至12月31日，燕京啤酒股东户数5.49万，较上期增加23.76%；人均流通股45705股，较上期减少 19.20%。2025年1月-9月，燕京啤酒实现营业收入134.33亿元，同比增长4.57%；归母净利润17.70亿元， 同比增长37.45%。 1月7日，燕京啤酒盘中上涨2.00%，截至13:09，报12.24元/股，成交2.30亿元，换手率0.76%，总市值 344.99亿元。 资金流向方面，主力资金净流出661.48万元，特大单买入540.95万元，占比2.36%，卖出601.84万元，占 比2.62%；大单买入3292.62万元，占比14.34%，卖出3893.21万元，占比16.96%。 燕京啤酒今年以来股价涨8.99%，近5个交易日涨8.70%，近20日跌0.81%，近60日涨1.58%。 资料显示，北京燕京啤酒股份有限公司位于北京市顺义区双河路9号，成立日期1997年7月8日，上市日 期1997年7月16日，公司主营业务涉及啤酒、水、啤酒原料、茶饮料、酵母、饲料等产品的制造和销 售。主营业务收入构成为：啤酒92.26%，其他5.86%，茶饮料0.97%，饲料0.80%，天然水0.11%。 燕 ...

Overall Industry Review - The food and beverage sector significantly underperformed the market, with a year-to-date decline of -0.62%, lagging behind the Shanghai Composite Index by 15.0 percentage points [7][11] - The snack sector showed strong performance with a year-to-date increase of 28.88%, driven by channel expansion and a total revenue growth of 30.97% in the first three quarters of 2025 [11] - The beverage sector, particularly soft drinks, benefited from travel demand and low-price, high-frequency consumption, achieving a revenue and profit growth in double digits [11][14] Alcoholic Beverages - The liquor sector exhibited weak performance, with a decline in sales and prices, particularly for white liquor, which saw a year-on-year revenue drop of -5.83% and a net profit decline of -6.93% in the first three quarters of 2025 [11][44] - The overall white liquor sector's revenue decreased by -5.8% and net profit by -6.9% in the first three quarters of 2025, with a significant drop in Q3, where total revenue fell by -18.4% [44] - The report indicates that the white liquor industry is in a prolonged adjustment phase, with the current downturn lasting 57 months, marking the longest adjustment period in history [35][40] Future Outlook - The central economic work conference emphasized the importance of boosting domestic demand in 2026, with expectations for policy support to stimulate recovery [3] - The report suggests focusing on sectors with low bases for recovery, such as frozen foods and beverages, which are expected to benefit from demand recovery and new product opportunities [3][4] - The report highlights the potential for structural opportunities in the food and beverage sector, particularly in overseas markets and cost improvements, recommending companies like Anqi Yeast and Mijiu Group for their overseas expansion strategies [4][34] Investment Strategies - The report identifies four key investment themes for 2026: opportunities in overseas markets, cost benefits, new product launches, and value-for-money consumption [4] - Companies with strong platform capabilities and innovative products, such as Dongpeng Beverage and Wancheng Group, are recommended for their potential in the beverage sector [4] - The report also emphasizes the importance of identifying companies that can adapt to a low-inflation, low-confidence environment by offering high-value products [14]