Core Viewpoint - The stock market experienced a decline on September 26, with the Shanghai Composite Index falling by 0.18% to 3846.33 points, indicating a bearish trend in the market [1] Industry Summary - The liquor sector closed at 2244.21 points, down 0.19%, with the stock of JiuGuiJiu leading the decline at 1.87% [1] - Major liquor companies saw the following closing prices and percentage changes: - Kweichow Moutai: 1434.79 CNY, down 0.29% - Wuliangye: 120.29 CNY, down 1.01% - Shanxi Fenjiu: 189.82 CNY, down 1.34% - Luzhou Laojiao: 127.04 CNY, down 1.87% - Yanghe Brewery: 67.94 CNY, down 0.60% [1] Research Insights - Huachuang Food and Beverage's report indicates that the liquor industry is undergoing a cyclical bottoming process in three phases: supply clearance, supply-demand rebalancing, and demand improvement [1] - The upcoming third-quarter reports may signal the first turning point in supply and demand, with expectations of "accelerated pressure relief in reports and marginal demand improvement," marking a potential first layout opportunity for the sector [1] - The focus for the next year will be on continuously sensing forward-looking signals and gradually confirming a positive cycle [1]

化工板块今日（9月16日）早盘持续下探，午后有所回升。反映化工板块整体走势的化工ETF （516020）早盘场内价格一度跌超2%，午后跌幅收窄，截至发稿，跌0.8%。 成份股方面，锂电、钾肥、氟化工等板块部分个股跌幅居前。截至发稿，天赐材料大跌超3%，藏格矿 业、宝丰能源、鲁西化工跌超2%，三美股份、多氟多、盐湖股份等多股跌超1%。 | 序号 | 证券代码 | 证券简称 | 区间涨跌幅 | | | --- | --- | --- | --- | --- | | | | | [区间首日] 2025-7-1 [区间尾日] 2025-9-15 [車位] % | | | 1 | 000813.CSI | 细分化工 | | 23.2947 | | 2 | 000001.SH | 上证指数 | | 12.0797 | | 3 | 000300.SH | 沪深300 | | 15.1668 | 注：细分化工指数近5个完整年度收益率分别为2020年：51.68%；2021年：15.72%；2022 年：-26.89%；2023年：-23.17%；2024年：-3.83%。标的指数成份股构成根据该指数编制规则适时调 整，其回测 ...