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 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22日迎 来普遍下跌。如果十大单品各取一瓶整体打包售卖，今日总售价为8854元，较昨日下跌12元。市场价格 第五次创下近两个月的新低，高端酒价格中枢持续下移，行业短期调整态势未改。 今日市场普跌特征凸显，十大单品七跌三涨，头部酒品走势分化，仅少数单品显露止跌回暖迹象。下跌 产品中，习酒君品领跌，环比降低13元/瓶；古井贡古紧随其后，环比下跌9元/瓶；国窖1573与洋河梦 之蓝M6+均环比下跌4元/瓶；飞天茅台环比下跌3元/瓶，i茅台平价货源持续投放，终端价格支撑进一步 弱化；青花汾20与青花郎跌幅较小，分别下跌2元/瓶与1元/瓶。上涨产品中，精品茅台领涨，环比大幅 上涨18元/瓶，渠道货源阶段性收紧，叠加部分终端补货需求释放；五粮液普五八代上涨5元/瓶；水晶 剑南春微涨1元/瓶。 "酒价内参"的每日数据源自全国各大区均有合理分布的约200个采集点，包括但不限于酒企的指定经销 商、社会经销商、电商平台和零售网点等，原始取样数据为过去24个小时各点位经手的真实成交终端零 ...

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22日迎来 普遍下跌。如果十大单品各取一瓶整体打包售卖，今日总售价为8854元，较昨日下跌12元。市场价格第五 次创下近两个月的新低，高端酒价格中枢持续下移，行业短期调整态势未改。今日市场普跌特征凸显，十 大单品七跌三涨，头部酒品走势分化，仅少数单品显露止跌回暖迹象。下跌产品中，习酒君品领跌，环比 降低13元/瓶；古井贡古紧随其后，环比下跌9元/瓶；国窖1573与洋河梦之蓝M6+均环比下跌4元/瓶；飞天 茅台环比下跌3元/瓶，i茅台平价货源持续投放，终端价格支撑进一步弱化；青花汾20与青花郎跌幅较小， 分别下跌2元/瓶与1元/瓶。上涨产品中，精品茅台领涨，环比大幅上涨18元/瓶，渠道货源阶段性收紧，叠 加部分终端补货需求释放；五粮液普五八代上涨5元/瓶；水晶剑南春微涨1元/瓶。 数据来源:全国各大区合理分布的约200个采集点,包括但不限于 酒企指定经销商、社会经销商、主流电商平台和零售网点等 原始数据： 过去24个小时中各点位经手的真实成交终端零售价 sma 打开新浪财经APP 搜索 酒价内参 Q 新浪财经客户端 Sina ...

Core Viewpoint - The food and beverage sector continues to experience a downturn, with the Huabao Food and Beverage ETF (515710) showing a significant decline, particularly in the liquor stocks, which have collectively dropped, impacting the overall sector performance [1][10]. Group 1: Market Performance - On January 21, the Huabao Food and Beverage ETF (515710) experienced a maximum intraday decline of 1.71%, closing down 1.37% [1][10]. - Major liquor stocks such as Jinhui Liquor fell by 4.04%, while others like Guizhou Moutai and Wuliangye also saw significant declines, contributing to the sector's downturn [1][10]. Group 2: Company Insights - Guizhou Moutai, the largest holding in the Huabao Food and Beverage ETF, had a holding ratio of 14.89% as of the third quarter of 2025 [3][12]. - The brand value of Guizhou Moutai increased by 2.2% to reach $59.63 billion, ranking first in the global liquor industry according to the Brand Finance report [1][12]. Group 3: Valuation and Investment Strategy - The current valuation of the food and beverage sector is at a historical low, with the price-to-earnings ratio of the ETF's underlying index at 19.83, placing it in the bottom 3.33% of the last decade [4][12]. - Analysts suggest that the food and beverage sector may present a good opportunity for left-side positioning due to its low valuation and strong cash dividend capabilities [4][14]. Group 4: Future Outlook - The market is expected to show a "growth first, liquor accumulation" characteristic as the Spring Festival approaches, with increasing demand for liquor as inventory levels decrease [14][15]. - The food and beverage ETF is positioned to capture core assets in the sector, with approximately 60% of its holdings in high-end and mid-range liquor stocks, and 40% in other beverage and dairy segments [15][16].

Core Viewpoint - The A-share market has shown overall stability, but nearly 230 stocks have seen their closing prices fall below the level recorded on September 24, 2024, accounting for approximately 4.3% of the total market [1]. Industry Analysis - The pharmaceutical sector has the highest number of stocks below the September 24 closing price, making up 18.7% of the total. Other sectors with significant representation include food and beverage, coal, public utilities, basic chemicals, and transportation, each exceeding 10% [2]. - Among the sub-sectors, stocks in the liquor, traditional Chinese medicine, thermal coal, coking coal, and residential development categories are the most affected, with a notable presence of chemical preparations, in vitro diagnostics, and medical consumables [2]. Market Capitalization Insights - The average total market capitalization of the over 200 stocks currently below the September 24 closing price is approximately 43.6 billion, with a median market capitalization of 10.8 billion. Stocks with a market capitalization below 5 billion account for nearly 30%, while those above 100 billion represent close to 10% [5]. - Notably, China Mobile, the only stock with a market capitalization exceeding 1 trillion, has seen a decline of about 3.7% from its September 24 closing price, currently fluctuating around 96 yuan [5]. Performance of Major Stocks - Key large-cap stocks that have fallen below the September 24 closing price include China Petroleum, Yangtze Power, China Telecom, Wuliangye, and others. Six stocks, including Pizaihuang and Daqin Railway, have experienced declines exceeding 10% [7]. - The performance of the dividend index has lagged behind the broader market, with a cumulative increase of only 5.9% since September 24, while other indices have shown more substantial gains [8]. Index Performance Overview - As of January 21, all 31 first-level industry indices are above their September 24 levels, with an average increase of approximately 58.12% and a median increase of 53.42%. The communication, non-ferrous metals, electronics, and comprehensive sectors have seen increases exceeding 130% [10]. - Conversely, sectors such as coal, food and beverage, public utilities, banking, and transportation have shown relatively lower growth, with the coal sector only increasing by 0.6% [10].

Market Overview - The Shanghai Composite Index rose by 0.08% on January 21, with 18 out of the 28 sectors experiencing gains. The top-performing sectors were non-ferrous metals and electronics, with increases of 2.79% and 2.62% respectively [1] - The banking and coal sectors saw the largest declines, with drops of 1.58% and 1.57% respectively [1] Capital Flow Analysis - The net inflow of capital in the two markets was 11.983 billion yuan, with 14 sectors receiving net inflows. The electronics sector led with a net inflow of 16.369 billion yuan, while the non-ferrous metals sector followed with a net inflow of 7.289 billion yuan [1] - Conversely, 17 sectors experienced net outflows, with the power equipment sector seeing the largest outflow of 6.688 billion yuan, followed by the defense and military sector with an outflow of 2.906 billion yuan [1] Food and Beverage Sector Performance - The food and beverage sector declined by 1.53%, with a net outflow of 2.416 billion yuan. Out of 124 stocks in this sector, 23 rose while 97 fell, including one stock that hit the daily limit down [2] - The top three stocks with the highest net inflows in the food and beverage sector were "Hao Xiang Ni" with 61.106 million yuan, "*ST Chun Tian" with 12.8997 million yuan, and "Wei Zhi Xiang" with 12.7381 million yuan [2] - Major stocks with significant net outflows included Kweichow Moutai with 9.52 billion yuan, Wuliangye with 3.66 billion yuan, and Shanxi Fenjiu with 1.33 billion yuan [2][4] Food and Beverage Sector Capital Inflow and Outflow - The capital inflow leaderboard in the food and beverage sector included "Hao Xiang Ni" (+8.11%), "*ST Chun Tian" (+4.85%), and "Wei Zhi Xiang" (+1.43%) [2] - The capital outflow leaderboard featured Kweichow Moutai (-1.64%), Wuliangye (-1.77%), and Shanxi Fenjiu (-2.34%) [4]

Group 1: Fund Manager Insights - Fund manager Fu Pengbo reduced holdings in companies with weak fundamentals and increased investments in data center liquid cooling, storage, and computing-related companies [1][2] - Fu noted that the annual reports of listed companies for 2025 will be pre-disclosed by the end of January 2026, with high-growth sectors like AI, non-ferrous metals, and lithium battery materials expected to show significant growth [1][3] - Li Xiaoxing increased positions in Hong Kong internet and consumer stocks while reducing holdings in some Hong Kong financial stocks, believing that overall opportunities in the equity market for 2026 outweigh risks [1][4] Group 2: Fund Performance and Adjustments - Fu's fund saw minor changes in its top ten holdings, with Maiwei Co. replacing China Mobile, and increased positions in Han's Laser while reducing stakes in companies like Ningde Times and Tencent [2][3] - Li's fund reported a stock position of 88.55% at the end of Q4 2025, a decrease of 4.54 percentage points from Q3 2025, with new entries in the top ten holdings including Tencent, Alibaba, and Meituan [4][5] Group 3: Market Outlook - Fu and Zhu believe that the stock market's activity is increasing, with a "spring excitement" arriving early, and expect high growth in sectors like AI and semiconductor manufacturing [3][6] - Li highlighted that AI remains the main line of global technological innovation, with significant capital expenditure growth in the AI sector, and domestic internet companies expected to maintain stable growth [6][7] - The consumer sector's performance needs dynamic observation, with many quality consumer stocks showing favorable dividend yields [6][7] Group 4: Sector-Specific Insights - The pharmaceutical sector experienced fluctuations in Q4 2025 due to previously high market expectations and capital flowing to other popular sectors, but long-term prospects for domestic innovative drugs remain positive [7] - The CRO and CDMO segments are showing clear signs of recovery in domestic and international demand, indicating an industry turning point [7]

Group 1 - The core viewpoint of the report indicates that the overall opportunities in the equity market for 2026 outweigh the risks, with AI remaining the main theme of global technological innovation [1] - As of the end of Q4 2025, the stock position of the Silver Hua Xinyi fund was 88.55%, a decrease of 4.54 percentage points compared to the end of Q3 2025 [1] - The top ten holdings of the fund as of Q4 2025 include Tencent Holdings, Alibaba-W, SMIC, Meituan-W, Xiaomi Group-W, Focus Media, Shenzhou International, Yili Group, Luzhou Laojiao, and Wuliangye [1] Group 2 - The AI industry is experiencing explosive growth in capital expenditure globally, with domestic internet companies also showing rapid growth in capital spending [2] - The consumer sector is expected to lag in 2025, with consumers remaining cautious and price-sensitive, although there are opportunities in high-quality consumer stocks with attractive dividend yields [2] - The pharmaceutical sector experienced fluctuations in Q4, attributed to previously high market expectations and capital flowing to other popular sectors, but there is a long-term positive outlook for domestic innovative drugs and the CRO/CDMO segments [2]

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable declines in share prices across multiple sectors, suggesting a bearish sentiment in the market. Group 1: Major Stocks with Capital Outflows - Xinyi Communication experienced a capital outflow of 1.23 billion, with a price drop of 7.98% [1][2] - Tebian Electric witnessed a capital outflow of 671 million, with a price decline of 2.5% [1][2] - Shanzi Gaoke had a capital outflow of 636 million, with a decrease of 4.8% [1][2] - Tianyin Electromechanical saw an outflow of 501 million, with a drop of 2.34% [1][2] - Kweichow Moutai experienced a capital outflow of 431 million, with a decline of 0.84% [1][2] Group 2: Additional Stocks with Notable Outflows - Baiwei Storage had a capital outflow of 388 million, with a price drop of 1.55% [1][2] - Fenghuo Communication saw an outflow of 363 million, with a slight increase of 0.19% [1][2] - Goldwind Technology experienced a capital outflow of 357 million, with a price increase of 0.54% [1][2] - Shannon Chip Creation had an outflow of 337 million, with a decline of 1.36% [1][2] - Agricultural Bank saw a capital outflow of 333 million, with a drop of 1.67% [1][2] Group 3: Further Stocks with Capital Outflows - China Satellite Communications experienced a capital outflow of 332 million, with a decline of 1.3% [3] - Shanghai Electric saw an outflow of 326 million, with a price drop of 2.7% [3] - Wuliangye experienced a capital outflow of 324 million, with a decline of 1.52% [3] - Shanghai Hanxun had an outflow of 303 million, with a drop of 2.15% [3] - Jiuding New Materials saw a capital outflow of 297 million, with a significant decline of 6.03% [3]

来源：酒业内参 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21日迎 来普遍下跌。如果十大单品各取一瓶整体打包售卖，今日总售价为8866元，较昨日下跌49元。市场价格 第四次创下近两个月来新低，高端酒价格支撑力度减弱，行业下行调整节奏有所加快。 【点击进入酒价内参，查看真实酒价】 | 中国知名白酒大单品 圈 | 市场真实成交终端价 | | | --- | --- | --- | | 品名/规格 | 今日价格(元) | 较昨日(元) | | 贵州茅台酒(飞天) 53度/500ml | 1664/瓶 | -8元 | | 贵州茅台酒(精品) 53度/500ml | 2326/瓶 | -13元▼ | | 五粮液普五八代 | 799/瓶 | -4元 | | --- | --- | --- | | 52度/500ml | | | | 青花汾20 | 376/瓶 | 1元 - | | 53度/500ml | | | | 国窖1573 | 880/瓶 | -1元▼ | | 52度/500ml | | | | 洋河梦之蓝M6+ | 583/瓶 | 1元 ▲ | | 52度/550ml ...

【点击进入酒价内参，查看真实酒价】 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 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21日迎 来普遍下跌。如果十大单品各取一瓶整体打包售卖，今日总售价为8866元，较昨日下跌49元。市场价格 第四次创下近两个月来新低，高端酒价格支撑力度减弱，行业下行调整节奏有所加快。 今日市场呈普跌态势，十大单品八跌两涨，行业短期调整压力凸显。下跌产品中，精品茅台领跌，环比 降低13元/瓶，主因系其终端货源补给增加，经销商适度让利促流通；青花郎与习酒君品紧随其后，分 别环比下跌11元/瓶与9元/瓶；飞天茅台环比下跌8元/瓶，"i茅台"平台平价货源持续入市分流需求，终端 零售价承压下行；古井贡古20与五粮液普五八代同步下跌4元/瓶；国窖1573与水晶剑南春微跌1元/瓶。 上涨产品中，洋河梦之蓝M6+与青花汾20涨势微弱，均环比上升1元/瓶。 "酒价内参"的每日数据源自全国各大区均有合理分布的约200个采集点，包括但不限于酒企的指定经销 商、社会经销商、电商平台和零售网点等，原始取样数据为过去24个小时各点位经手的真实成交终端零 售 ...