格隆汇1月30日｜酒鬼酒公告，预计2025年度归属于上市公司股东的净利润亏损3300万元-4900万元，上 年同期盈利1249.33万元。扣除非经常性损益后的净利润亏损2900万元-4300万元，上年同期盈利381.49 万元。公司预计2025年度实现营业收入11亿元左右，较上年同期下降22%左右。2025年，白酒行业仍处 于深度调整期，存量竞争加剧背景下，中小酒企经营压力更大，公司受到市场需求减弱带来的各方面挑 战，公司高端和次高端价位段产品承压较大。 ...

最近的行情，简直就是一个大乱斗场，轮动地让人目瞪口呆。 而对绝大多数白酒，此前的业绩预告已经给市场展示过了，接下来的25年年报和一季报都会是雷，雷完之后也不是说马上就可以起来（如果雷完马上可以 起来，那就是利空出尽），从基本面筑底走到基本面回升，是要好几个季度的，今年是大概率看不到。 从昨天白酒的资金面看，五粮液和泸州老窖破天荒的居然上了龙虎榜。这个龙虎榜透露的信息有： 典型比如说昨天，早盘还是延续前天的行情，贵金属为代表的上游资源强，然后市场去拉了AI应用，传媒板块暴涨，再之后拉了地产，最后大赢家原来 是白酒，板块除茅台外，都涨停了，酒ETF涨停。 结果今天市场就一度大幅调整，以致有人说：以后必须要严肃对待白酒上涨了，一涨就把其他的全卖了。 那么，春季躁动到白酒，到底意味着什么？是老登们的春天要来了吗？还是市场的最后一轮补涨？ 01 纯轮动，无关基本面 首先，要明确指出，白酒昨天的集体涨停，纯轮动，大家不用想一丁点的是不是白酒基本面反转了。 茅台的批价确实是在上涨，但是，第一，这只关乎茅台，我们以前就跟大家说过，白酒里面，大家看估值看股息率，只有茅台的有意义，其他白酒都没意 义，因为业绩不可持续。 第二，马 ...

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 昨日（1月29日）A股市场上演了一场惊心动魄的风格大逆转，以白酒板块为代表的传统核心资产——被市场戏称为"老登资产"——发起全面反扑，彻底打 破了此前科技成长独领风骚的格局。中证白酒指数更是一柱擎天，单日暴涨9.79%，创下近年来罕见的板块级行情。 盘面显示，白酒板块内部呈现极致的普涨态势：除贵州茅台因市值庞大、流动性充裕而涨幅相对克制外，五粮液、泸州老窖、山西汾酒、洋河股份等头部酒 企全线涨停，古井贡酒、今世缘、舍得酒业等二三线白酒同样集体封板，板块内涨停家数超过15只，成交额突破千亿元大关，资金抢筹迹象极为明显。 白酒板块上演"单日暴涨"行情 数据来源：Wind 截至：2026.01.30 而从业绩端看，1月29日晚，天佑德公告了2025年度业绩预告：2025年度归属于上市公司股东的净利润421.35万元至632.02万元，比上年同期下降85%～ 90%。这是白酒企业第四家公告的2025年度业绩预减预告。目前，上市白酒企业中已四家公告2025年年度业绩预减预告，两家公告2025年年度业绩预亏预 告。 白酒行业却难觅利好 白酒企业2025年度业绩预告 ...

Core Viewpoint - The upcoming Spring Festival marks a peak consumption season for the liquor market, with Yanghe adopting a unique strategy of "internal accumulation and external stability" to strengthen its core competitiveness for high-quality growth by 2026 [1] Group 1: Product Strategy - Yanghe's long-term growth is supported by a tiered product matrix that targets various price segments, allowing for collaborative growth while solidifying its market base and exploring new growth areas [2] - The Dream Blue M6+ in the mid-to-high-end market employs a "controlled volume and price maintenance" strategy, achieving a terminal sales rate of 72%, indicating solid market acceptance without relying solely on inventory pressure [2] - The Seventh Generation Sea Blue has upgraded its quality by utilizing a blend of three-year base liquor and five-year aged liquor, achieving recognition as a "billion-dollar product with annual sales of one million bottles" and reinforcing its position as the "national reunion liquor" [4] Group 2: Market Expansion - The high-end light bottle liquor priced at 59 yuan has gained traction in the mass consumer market, becoming the industry's first certified light bottle liquor with "real years," and has established a broad user base due to its strong market performance [6] - Yanghe's product structure resembles a "pyramid," effectively covering all price ranges and forming a robust strategic layout that includes top-tier, mid-tier, and mass-market products [8] Group 3: Channel Operations - Yanghe's long-term development relies on a refined and efficient channel operation system, focusing on "inventory reduction, enhancing momentum, and stabilizing prices" to solidify its market foundation [9] - The company emphasizes deepening its presence in its home market of Jiangsu while targeting surrounding markets, ensuring resource concentration and organizational focus [10] - Yanghe has invested nearly 4 billion yuan in base liquor capacity since 2011, establishing six production bases and over 70,000 premium cellar pits, with a total base liquor storage capacity of 1 million tons, thereby reinforcing its quality foundation [10]

1月29日午后，白酒股大涨。截至收盘，贵州茅台涨8.61%，报1437.72元/股，盘间曾摸高至1445元/股， 涨幅超9%接近涨停，创下近一年来其股价最大的单日涨幅，总市值为1.8万亿元，当天成交额超263亿 元。白酒指数涨超4%，个股全线飘红。 消息面上，据智通财经报道，受春节旺季需求向好等因素影响，53vol 500ml飞天茅台批价迎来2026年 以来的最强劲上涨。29日，飞天茅台批价已攀升至接近1600元/瓶，单日涨幅达30元。 与此同时，近期茅台酒市场也呈现热销景象。在茅台官方直销平台"i茅台"上，飞天茅台已连续20多天 售罄。为缓解订单激增带来的发货压力，近日i茅台宣布在原有贵阳发货仓的基础上，新增南京、北京 两大发货仓，以提升配送效率。 来源：综合 国泰海通研报指出，白酒企业开门红回款发货正在进行中，预计动销高峰将于2月到来。批价方面，茅 台市场化转型如火如荼，i茅台销售火热，同时线下渠道普飞批价小幅回升，催生了茅台需求增量，关 注后续2月及节后价格表现。 展望后市，中信证券研报认为，白酒行业或在新改革和新方向下重新聚焦市场培育和消费者教育，促进 开瓶动销并为经销商减负。综合考虑到动销已逐步平稳 ...

Core Viewpoint - The white liquor sector experienced a significant collective surge on January 29, 2026, with 18 out of 20 stocks reaching their daily limit, resulting in a total market value increase of over 252.6 billion yuan, primarily driven by the performance of Kweichow Moutai, which alone saw a market value increase of over 140 billion yuan [1][2][5]. Group 1: Market Performance - On January 29, 2026, the white liquor stocks initially opened flat but later exhibited a strong upward trend, with all 20 stocks showing a "climbing" pattern throughout the day [3][6]. - Kweichow Moutai and Shunxin Agriculture, while not hitting the limit, recorded significant gains of 8.61% and 9.96%, respectively, with Moutai's stock closing at 1437.72 yuan per share [5][6]. - The surge in the white liquor sector was unexpected for investors, who expressed surprise at the sudden rise after a prolonged period of low performance [6][10]. Group 2: Industry Turning Point - The collective rise in white liquor stocks has led to speculation about a potential turning point for the industry, attributed to factors such as the price increase of Moutai and the upcoming Spring Festival consumption peak [7][10]. - The price of Moutai's original box has risen to 1610 yuan per bottle, indicating a recovery from previous lows [7][9]. - Analysts from CITIC Securities have optimistic expectations for the Spring Festival sales, predicting stable sales performance due to various favorable factors [7][10]. Group 3: Valuation Recovery Logic - The current valuation of white liquor stocks is at a low point, with the China Securities White Liquor Index reflecting a price-to-earnings ratio of 18.85, close to historical lows [10][11]. - The market's expectation for a rebound is growing, especially as leading white liquor companies have adjusted their profit forecasts for 2025-2026, enhancing the perceived safety margin for investors [10][11]. - Structural changes within the industry, such as inventory clearance and price control mechanisms, are crucial for sustaining the recovery of white liquor stocks [11][12][16]. Group 4: Structural Changes - The pressure on leading liquor companies regarding inventory has eased, with companies like Wuliangye managing to reduce channel inventory to 1-2 months [11][12]. - Price control reforms are being implemented, with Moutai and Wuliangye adopting strategies to stabilize prices and support distributors [12][16]. - The effectiveness of these structural reforms will be essential for validating the recovery of demand in the white liquor sector [11][17].

Core Viewpoint - The market price of Feitian Moutai has risen for three consecutive days, with the original box price exceeding 1700 yuan per bottle, marking the highest single-day increase of the year at approximately 100 yuan per bottle [2][3]. Market Dynamics - The demand for Moutai has exceeded expectations, with some distributors describing the current purchasing power as "massive" [2]. - As the Spring Festival approaches, many distributors have already fulfilled their quotas for January and February, potentially leading to a situation where demand surpasses supply, driving prices upward [2][7]. - The recent price surge is attributed not only to seasonal demand but also to the introduction of the "i Moutai" platform, which has expanded the consumer base beyond traditional channels [2][6]. Price Trends - The market price for original box Feitian Moutai is currently between 1710 yuan and 1770 yuan per bottle, with single bottle prices ranging from 1650 yuan to 1700 yuan, reflecting daily increases of 100 to 160 yuan for boxes and 80 to 130 yuan for single bottles [6]. - The price fluctuations have been significant, with reports of multiple price increases within a single day as demand spikes ahead of the holiday [2][3]. Consumer Behavior - The "i Moutai" platform has attracted a large number of new consumers, many of whom are not traditional channel customers, indicating a shift in the consumer demographic [6]. - There is a concern that the current surge in demand may be driven by short-term holiday gifting needs, and the long-term purchasing behavior of new consumers remains uncertain [8][9]. Future Outlook - Market sentiment is cautiously optimistic, with many believing that the current price levels may stabilize post-Spring Festival, contingent on supply management by Moutai [7][8]. - Some distributors express concerns about the sustainability of the price increases, noting a decline in group purchase customers and a potential drop in demand after the holiday season [9].

Core Insights - The article highlights the achievements of ten exemplary entrepreneurs who have significantly contributed to China's economic landscape, showcasing their courage, vision, and resilience in various industries [3][4]. Group 1: Industrial Leadership - The emergence of great companies often begins with leaders who possess a profound insight into the "certainty" of their times, as exemplified by Ma Changhai of Weichai Power and Chen Jinghe of Zijin Mining [6]. - Chen Jinghe transformed Zijin Mining from a struggling company into a global mining giant by focusing on independent research and development, overcoming external competition and internal technical challenges [7][9]. - Ma Changhai led Weichai Power through comprehensive reforms and innovations, emphasizing the importance of mastering core technologies to strengthen China's industrial autonomy [11]. Group 2: Commitment to Excellence - Entrepreneurs like Leng Youbin of Feihe Dairy and Wu Xiangdong of Zhenjiu demonstrate the depth and warmth of "Made in China" through their commitment to quality and cultural heritage [13][16]. - Leng Youbin's strategic decisions during a crisis in the dairy industry led to the establishment of a complete supply chain for infant formula, enhancing safety and quality [14]. - Wu Xiangdong's acquisitions in the liquor industry allowed him to transition from brand management to controlling core production capabilities, thus preserving cultural heritage while achieving commercial success [17][19]. Group 3: Innovation and New Frontiers - Entrepreneurs such as Peng Jun of Xiaoma Zhixing and Zhao Deli of XPeng Huitian are pioneering new avenues in transportation, focusing on autonomous driving and flying cars, respectively [25][27]. - Liu Debing of Zhipu and Han Bicheng of Qiangnao Technology are exploring the intersection of artificial intelligence and life sciences, contributing to China's shift from application-driven innovation to foundational research [27][30]. - The article emphasizes the importance of these entrepreneurs in driving technological advancements and establishing China as a leader in global innovation [30].

在"无酒不成席"的传统年俗中，白酒承载着情感交流与社交礼仪的双重功能。名酒专区作为本届四川年 货节的"流量担当"，以"四川名酒市集暨2026四川名酒新春消费月活动"为核心，集结了近百种全国名优 白酒，构建起一个全价格带、全场景覆盖的"美酒矩阵"。 "川酒作为'川字号'的金字招牌，不仅是传统优势产业的重要支柱，更是承载彰显蜀地悠长历史文化魅 力的重要载体。"四川省酒业协会副会长张建平表示，希望年货节为酒企和消费者搭建桥梁，激活当下 的酒类消费市场，并让川酒的好品质、好口碑走进千家万户。 本届四川年货节最显著的变化，在于打破了"卖场"的物理边界，构建了一个集购物、娱乐、社交于一体 的复合型消费场景。展期内，"中国藏绵羊之都·第三届若尔盖美食汇"与"天府旅游美食汇"交相辉映， 将高原风味与街头小吃搬进场馆；川剧变脸、舞龙舞狮与写春联、转糖画混搭，让传统民俗表演与体验 碰撞出火花。这种"展+演+娱"的一体化模式，正是应对当前"体验式经济"的生动实践；对于消费者而 言，逛年货市场不只是"买东西"，也是一场关于"好玩"和"出片"的互动体验。(完) （文章来源：中国新闻网） 中新网成都1月30日电 作为第二届"天府精品"迎 ...

Core Viewpoint - The rise of illegal "外挂" software for purchasing tickets and products like "i茅台" during peak consumption seasons poses significant risks to consumers and market integrity [1][2][10]. Group 1: Illegal Software Sales - Numerous sellers on second-hand platforms are offering "外挂" software claiming to enhance the success rate of purchasing "i茅台" [2][5]. - The software, such as Storm Sniffer, is marketed as capable of automating the purchase process, but sellers do not guarantee successful transactions [5][6]. - "i茅台" has issued a statement condemning the sale of such software, highlighting its negative impact on market order and potential legal violations [2][6]. Group 2: Security Risks - Experts warn that the "外挂" software does not possess genuine automated purchasing capabilities and may compromise user data security [8][12]. - Users of these software face risks of personal information leakage, financial loss, and potential legal consequences due to the use of illegal scripts [12][13]. - The software can capture sensitive data, making users vulnerable to further scams and identity theft [13]. Group 3: Legal Implications - The sale and use of "外挂" software violate multiple laws, including the Anti-Unfair Competition Law and the Consumer Rights Protection Law in China [6][7]. - Serious violations may lead to criminal charges, including penalties for providing tools for illegal access to computer systems [7][6]. - Legal experts suggest that users suffering financial losses from using such software can seek legal recourse through complaints or lawsuits [13].