港股概念追踪|春节旺季来临 机构看好白酒行业底部配置机会（附概念股）

Group 1 - The leading liquor companies are holding important meetings to convey their commitment to adjustments, reforms, and channel rebalancing, which is beneficial for the long-term healthy development of the industry [1] - Since Q4 2025, major liquor companies have been implementing measures such as controlling shipments, reducing burdens on distributors, and promoting bottle opening sales to lower channel inventory [1] - Considering the gradual stabilization of sales, the additional day of the Spring Festival holiday in 2026, and the consumption scenarios for liquor during the Spring Festival, institutions predict that actual liquor sales during the 2026 Spring Festival are likely to remain stable, indicating no need for excessive pessimism [1] Group 2 - CITIC Securities is optimistic about the bottom configuration opportunities in the liquor industry, anticipating a mild recovery in the beer industry from its bottom position in 2026 [2] - The liquor industry is in a "five-bottom phase," resonating with the capital market's "three lows and one high," suggesting that the current adjustment period for liquor may soon reach an inflection point, with capital market expectations leading the way [2] Group 3 - In the Hong Kong stock market, Zhenjiu Lidu (06979) has launched its latest flagship product "Dazhen," which has already achieved a return of 370 million yuan, with over 2,800 national signed alliance merchants [3] - The introduction of the new flagship product "Dazhen" is positioned to complement the Zhen 15 and Zhen 30 series, with high cost-performance expected to create a third growth curve for Zhenjiu [3]