（原标题：五粮液1月19日大宗交易成交200.22万元） 五粮液1月19日大宗交易平台出现一笔成交，成交量1.90万股，成交金额200.22万元，大宗交易成交价为 105.38元，相对今日收盘价溢价0.79%。该笔交易的买方营业部为光大证券股份有限公司宁波柳汀街证 券营业部，卖方营业部为光大证券股份有限公司宁波柳汀街证券营业部。 进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为2.33亿元。 两融数据显示，该股最新融资余额为59.99亿元，近5日增加1.25亿元，增幅为2.13%。 据天眼查APP显示，宜宾五粮液股份有限公司成立于1998年04月21日，注册资本388160.8005万人民 币。（数据宝） 1月19日五粮液大宗交易一览 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 证券时报•数据宝统计显示，五粮液今日收盘价为104.55元，下跌0.58%，日换手率为0.47%，成交额为 19.08亿元，全天主力资金净流出1.74亿元，近5日该股累计下跌3.68%，近5日资金合计净流出7.42亿 元。 | | 成交金 | | 相对当 日 | | | | --- | --- | -- ...

格隆汇1月19日丨皇台酒业(000995.SZ)公布，2026年1月16日，公司收到甘肃盛达出具的《关于增持公 司股份的告知函》，截止2026年1月16日，甘肃盛达通过深圳证券交易所证券交易系统以集中竞价方式 累计增持公司股份3,255,400股，占公司总股本1.83%。本次增持后，甘肃盛达及其一致行动人持有公司 股份47,636,291股，持股比例由25.02%增至26.85%，变动触及1%的整数倍。本次增持计划尚未实施完 毕，甘肃盛达将继续实施增持计划。 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 ...

对于业绩下降原因，水井坊方面在公告中指出，2025年白酒行业在宏观经济周期、产业调整周期与政策 调整的多重影响下进入深度调整阶段，传统商务宴请等消费场景恢复较缓，行业库存整体处于高位。 北京商报讯（记者 刘一博 冯若男）1月19日，四川水井坊股份有限公司（以下简称"水井坊"）发布 《2025年度业绩预告》显示，预计2025年度公司实现属于母公司所有者的净利润为 3.92亿元，与上年同 期相比，预计减少9.49亿元，同比下降71%；预计2025年度公司实现营业收入30.38亿元，预计减少 21.79亿元，同比下降42%。 ...

Core Insights - The white liquor market is expected to see better sales during the 2026 Spring Festival compared to regular periods, but it will not match previous years' performance [1] - Key issues in the 2025 market include high inventory levels and price inversion, with manufacturers and channels focusing on destocking as the market shows signs of recovery, albeit weakly [1] Group 1: Market Trends - The 2025 Spring Festival sales are anticipated to be influenced by low-alcohol beverages, instant retail, and health wines, although these segments may not dominate due to the unique consumption patterns during the festival [1] - The overall market recovery is characterized by a focus on destocking and price stabilization, which will remain the main theme for the industry in 2026 [1] Group 2: Marketing Strategies - Leading liquor companies are ramping up marketing efforts for the Spring Festival, with significant partnerships established for promotional activities, such as collaborations with major broadcasting networks [3][5] - The effectiveness of traditional marketing strategies, such as sponsoring the Spring Festival Gala, may be diminished this year due to changing consumer engagement patterns [6] Group 3: Sales Performance - Sales conversion rates for liquor brands are expected to be lower than in previous years, with analysts predicting a decline of 50-60% compared to the same period last year [6] - Despite increased marketing efforts, the actual sales performance during the Spring Festival is projected to be weaker than in previous years, with many products experiencing price reductions rather than increases [6] Group 4: Consumer Behavior - The extended holiday and revival of banquet scenarios may provide a short-term boost to liquor consumption, but the overall high inventory levels and sluggish sales raise concerns about sustainable growth [7] - Low-alcohol products are likely to see increased consumption during family gatherings, but instant retail may not significantly contribute to sales due to logistical challenges during the holiday [11] Group 5: Health Wine Segment - Health wines have gained popularity, particularly among younger consumers, but concerns about exaggerated health claims may limit their long-term appeal [13] - The health wine market is seen as one of the few segments benefiting from category expansion, although it may not be the primary choice for gift-giving during the Spring Festival [13]

2025年的中国白酒市场，正在经历一场深刻变革。消费趋势转变、市场竞争加剧让整个行业站在了调整 的十字路口：一方面，传统的白酒销售模式遭遇挑战，渠道变革让存量市场的竞争更加白热化；另一方 面，消费者的需求也在快速迭代，以往由商务宴请主导的市场格局逐渐松动，朋友聚会、文化体验、休 闲独酌等多元化消费场景兴起。 变革之中也有新机遇，光瓶酒和低度酒的崛起开拓了增量空间，数字化技术的应用让白酒营销焕发新 生，区域酒企通过与文旅结合找到了差异化发展的机会，而国际化战略则助力白酒企业打开广阔市场。 在这充满不确定性的时期，老牌酒企该如何应对？国美酒业给出了自己的答案。 在企业管理层面，2026年伊始，国美酒业启动了"9S精益管理"模式，将精细化管理贯穿生产、仓储、物 流、营销等各个环节。这套管理体系不仅能提升运营效率，更能帮助企业实现从"资源驱动"到"能力驱 动"的转变，使企业在市场竞争中更具韧性。 全方位发力抢占白酒消费新战场 国美酒业集团 浓酱双香并进，产区优势铸就品质根基 白酒市场的竞争，归根结底是品质的竞争。中国白酒的三大主流香型——浓香、酱香、清香，各自拥有 庞大的消费群体，而消费者的偏好正持续发生变化。 浓香 ...

2025年白酒行业在宏观经济周期、产业调整周期与政策调整的多重影响下进入深度调整阶段，传统商务 宴请等消费场景恢复较缓，行业库存整体处于高位。 预计2025年度公司实现归属于母公司所有者的扣除非经常性损益的净利润为38,072万元，同比下降 71%。 格隆汇1月19日丨水井坊(600779.SH)公布，经财务部门初步测算，预计2025年度公司实现归属于母公司 所有者的净利润为39,185万元，同比下降71%；预计2025年度公司实现营业收入303,776万元，比下降 42%。 ...

格隆汇1月19日丨水井坊(600779.SH)公布，经财务部门初步测算，预计2025年度公司实现归属于母公司 所有者的净利润为39,185万元，同比下降71%；预计2025年度公司实现营业收入303,776万元，比下降 42%。 2025年白酒行业在宏观经济周期、产业调整周期与政策调整的多重影响下进入深度调整阶段，传统商务 宴请等消费场景恢复较缓，行业库存整体处于高位。 预计2025年度公司实现归属于母公司所有者的扣除非经常性损益的净利润为38,072万元，同比下降 71%。 ...

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 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-19 | 迎驾贡酒 | 603198 | 39.24 | 3924 | 100 | 中信证券股份有限 公司深圳滨海大道 | 瑞银证券有限责任 公司上海花园石桥 | 1月19日，迎驾贡酒大宗交易成交100万股，成交额3924万元，占当日总成交额的17.7%，成交价39.24元，较市场收盘价39.24元持平。 ...

过去一年多来，这家源自中国四川的白酒企业，从长江之头宜宾的古老窖池出发，以行业唯一"米其林 指南全球合作伙伴"身份，点亮了全球超过18个城市的米其林指南系列活动，让"中国生产的烈酒"变 为"能与全球顶级美食对话的高端佐餐佳酿"，更在宜宾、杭州、新加坡等地接连落地"五粮·炙造"潮饮 店和五粮液大酒家，构建起一个从顶级星厨到街头潮饮的完整体验生态，创新开辟了一条兼具高度、深 度与温度的国际化新道路。 当米其林星厨以五粮液为灵感"点燃"法式龙虾的瞬间，一场关于中国白酒以全球美食为舞台的"和美"叙 事，正持续铺展。 从巴黎塞纳河畔到新加坡滨海湾，从东京银座到杭州西湖，中国白酒品牌五粮液正用横跨全球的"顶级 美酒搭配多元顶级美食"之旅，不断融入"世界餐桌"，逐步重塑中国白酒在世界餐桌上的角色，推动中 国白酒全球化的新征程。 高端对话：携手米其林，参与全球餐饮叙事 2024年9月，法国巴黎，五粮液与米其林指南的全球合作签约仪式举行，其成为行业唯一米其林指南全 球合作伙伴，一场全球顶级"美酒+美食"之旅正式启程，开启了中国白酒品牌国际化路径的全新探索。 此后，五粮液的身影陆续出现在东京、新加坡、伦敦、巴黎、纽约、旧金山等超 ...

Investment Rating - The industry investment rating is "Outperform the Market" [1] Core Insights - The report highlights that the liquor industry is entering a phase of rapid performance clearing, with demand expected to show weak recovery as policy pressures ease. The industry is currently at a low valuation, and pessimistic expectations are fully priced in. The leading liquor companies are stabilizing prices and increasing dividends, making them attractive for investment [3] - The report emphasizes the strategic price adjustments by Kweichow Moutai, which aims to stabilize its distribution channels and ensure reasonable profit margins for distributors. This adjustment reflects a market-oriented pricing mechanism and is expected to enhance the stability of the distribution system during the industry adjustment period [4] - The report also notes that Eastroc Beverage's performance for 2025 is in line with expectations, with significant revenue growth projected. The company is transitioning from a regional to a national brand, showcasing its platform capabilities and growth potential [4] Summary by Sections Liquor Industry - The liquor industry is experiencing a phase of performance clearing, with demand expected to recover weakly due to easing policy pressures. The industry is at a low valuation, and leading companies are stabilizing prices and increasing dividends, making them attractive for investment [3] - Kweichow Moutai has adjusted the contract prices for several products to align with market prices, ensuring reasonable profit margins for distributors and stabilizing the distribution system [4] Consumer Goods - The consumer goods sector is focusing on high-growth areas, with some segments still benefiting from new products and channels. Companies like Wancheng Group and Eastroc Beverage are highlighted for their growth potential and market positioning [3]