盘面上，截至午间收盘，贵州茅台涨2.1%，报1457.01元。 2月3日，"今日酒价"数据显示，26、25年飞天茅台价格上涨，2026年飞天茅台原箱报1625元/瓶，较前一日涨35元；2025年飞天茅台原箱报1640 元/瓶，较前一日涨20元。 | 茅台飞天 | | | 2026年2月3日 (公众号: 今日酒价) | | --- | --- | --- | --- | | 品名 | 规格 | 昨日行情 | 今日行情 | | 2 26年飞天(原) | 53度/500ml | 1590 | 1625 t | | ② 26年飞天(散) | 53度/500ml | 1570 | 1570 | | 25年飞天(原) | 53度/500ml | 1620 | 1640 t | | 25年飞天(散) | 53度/500ml | 1590 | 1590 | | 24年飞天(原) | 53度/500ml | 1780 | 1780 | | 24年飞天(散) | 53度/500ml | 1700 | 1700 | | 23年飞天(原) | 53度/500ml | 1820 | 1820 | | 23年飞天(散) | 53度/50 ...

2月3日，A股三大股指早盘高开低走触底反弹，截止午盘，沪指涨0.38%报4031.07点，深成指涨0.93%报13952.38点，创业 板指涨0.76%报3289.03点，科创50指数跌0.27%报1446.93点。沪深两市半日成交额1.6万亿，较上个交易日缩量385亿。全市场 超4400只个股上涨。 盘面热点较为杂乱，商业航天（核心股）概念爆发，十余只成分股涨停，巨力索具、通宇通讯、神剑股份、中超控股涨 停。光伏（核心股）概念持续走强，双良节能、奥特维涨停。化工（核心股）板块拉升，红宝丽3天2板，万丰股份4连板。AI 应用概念反复活跃，下跌方面，有色金属板块再度下挫，贵金属概念领跌，四川黄金、招金黄金等多股跌停。 热门板块 CPO等算力（核心股）硬件股继续走强 CPO等算力（核心股）硬件股继续走强，罗博特科、天孚通信涨超10%，股价均创历史新高，太辰光、炬光科技、光库科 技、天通股份等跟涨。 消息面上，国盛证券表示，算力（核心股）产业链高景气周期背景下，光模块头部厂商在大陆和泰国加速扩产，预计光模 块行业2026年一季度将迎来产能集中释放，驱动业绩进入新一轮爬坡期。 太空光伏（核心股）概念拉升 太空光伏（核 ...

消息面上 国务院国资委：2026年国资国企要深入实施"一企一策"分类考核健全科技创新激励保障机制 近日，国务院国资委召开2026年度中央企业、地方国资委考核分配工作会议，会议强调，2026年，国资 国企要聚焦高质量发展主题，进一步深化改革，深入实施"一企一策"分类考核，切实加强收入分配管 理，健全科技创新激励保障机制，推动三项制度改革走深走实，深化考核分配信息系统建设应用，推动 考核分配体系化制度更加科学，专业化监管更加精准，数智化赋能更加有效，引导支持国有企业和国有 资本做强做优做大，实现"十五五"良好开局。 新华财经北京2月3日电 A股三大指数2月3日早盘高开回落，盘中一度翻绿，后又震荡拉升，至午间收盘 时均小幅收涨，全市场超4400只个股上涨。沪深两市半日成交额1.6万亿，较上个交易日缩量385亿。盘 面上，商业航天概念爆发，十余只成分股涨停，巨力索具、通宇通讯、神剑股份、中超控股涨停；太空 光伏概念集体走强，双良节能、钧达股份等多股涨停；CPO等算力硬件股延续强势，天通股份等涨停， 罗博特科涨超17%创新高。下跌方面，有色金属板块再度下挫，贵金属概念领跌，四川黄金、招金黄金 等多股跌停。 截至午间收盘 ...

Market Overview - The A-share market experienced a mixed performance with the Shanghai Composite Index rising by 0.38% to 4031.07 points, the Shenzhen Component Index increasing by 0.93% to 13952.38 points, and the ChiNext Index up by 0.76% to 3289.03 points, while the Sci-Tech 50 Index fell by 0.27% to 1446.93 points. The total trading volume in the Shanghai and Shenzhen markets reached 1.6 trillion yuan, a decrease of 38.5 billion yuan compared to the previous trading day [1] Sector Highlights - The commercial aerospace sector saw significant gains, with multiple stocks hitting the daily limit, including Jili Suoj, Tongyu Communication, and Shenjian Co. [1] - The photovoltaic sector continued to strengthen, with stocks like Shuangliang Energy and Aotewi reaching the daily limit [1] - The chemical sector also experienced a rally, with Hongbaoli achieving two consecutive limit-ups and Wanfeng Co. hitting four consecutive limit-ups [1] - The AI application sector remained active, with stocks such as Zhejiang Wenlian and Huamei Holdings showing notable increases [1] Key Concepts - The computing power hardware stocks, particularly CPO, continued to perform well, with companies like Robot Co. and Tianfu Communication rising over 10% and reaching historical highs. The report from Guosheng Securities indicates a high prosperity cycle in the computing power industry, predicting a significant capacity release in the optical module industry by Q1 2026 [2] - The space photovoltaic concept saw a surge, with Shuangliang Energy and Aotewi hitting the daily limit. Guosheng Securities' report suggests that the demand for space energy is expected to explode, driven by the restructuring of the supply chain between China and the U.S. [3] - The AI application sector saw renewed activity, with several domestic model manufacturers updating their models, leading to increased visibility and interest in Chinese models on international platforms [4] - The Beijing-Tianjin-Hebei concept stocks collectively opened strong, with companies like Jingtou Development and Chengjian Development hitting the daily limit. The central government's new urban planning aims to build a world-class metropolitan area centered around the capital [5] Institutional Insights - Guotai Junan believes that after a significant market drop, there are opportunities for stabilization and recovery, with a focus on domestic demand driving economic prospects and asset returns [6] - Huatai Securities views the recent market adjustment as primarily technical and emotional, suggesting that once technical indicators stabilize, an upward trend may resume [7] - CITIC Securities indicates that the current adjustment period for the liquor industry may soon reach a turning point, presenting a bottoming opportunity for capital market investments in the liquor sector [7]

记者丨肖夏 编辑丨高梦阳 2月3日，第三方平台"今日酒价"数据显示， 26、25年飞天茅台全线上涨， 2026年飞天茅台原箱报1625元/瓶，较前一日涨35元，2025年飞天茅 台原箱报1640元/瓶，较前一日涨20元。 2日晚i茅台披露上述数据后，市场普遍认为超出预期。 飞天茅台1月成交143万笔，消费者在3天元旦假期每次可申购1—12瓶、此后调整为每次可申购1-6瓶，按此推算，飞天茅台成交量大致在 670多吨至4400多吨之间（根据申购上下限粗略推算，非实际情况），仅仅一个月便可实现几十亿元至一百多亿元的收入。 这一数据远远超过往年同期。可作对比的是，i茅台2025年前三季度的总共收入是接近127亿元。 在前一日上涨后，2月3日上午开盘后贵州茅台股价再次上涨，开盘后一度涨超3%，位居白酒板块前列，随后涨幅收窄至2%左右。 茅台开展市场化改革满月，"先头兵"i茅台率先交卷。 2月2日晚间，i茅台官方披露了一组关键数据：刚过去的1月平台月活用户超过1531万，其中新注册用户628万人，超过145万人购买到了产品， 成交订单超过212万笔，其中飞天53%vol 500ml贵州茅台酒（即大众所说的飞天茅台）成交订 ...

Core Viewpoint - The article emphasizes the cultural significance of wine as a living heritage and its connection to the rich cultural tapestry of Anhui province, highlighting the compatibility of different cultural elements in the production of Kuozi Jiao wine [1] Group 1: Cultural Significance - Wine is described as not just a taste but a dynamic cultural heritage, embodying the essence of civilization [1] - The article references the integration of northern and southern cultural elements in Anhui, showcasing the region's cultural diversity [1] Group 2: Company and Industry Insights - Kuozi Jiao, rooted in the fertile land of Anhui, is positioned as a product that embodies the philosophy of compatibility in its brewing process [1] - The upcoming collaboration between Xinhua News and Kuozi Jiao, titled "Seeing the Path of Compatibility," aims to explore the wisdom of cultural integration through wine [1]

2月3日，第三方平台"今日酒价"数据显示，此外，26、25年飞天茅台全线上涨，2月3日，2026年飞天茅台原箱报1625元/瓶，较前一日涨35元；2025年飞 天茅台原箱报1640元/瓶，较前一日涨20元。 | | 茅台飞天 | | 2026年2月3日 | | --- | --- | --- | --- | | MOUTAI | | | (公众号:今日酒价) | | 品名 | 规格 | 昨日行情 | 今日行情 | | 226年飞天(原) | 53度/500ml | 1590 | 1625 ↑ | | 226年飞天(散) | 53度/500ml | 1570 | 1570 | | 25年飞天(原) | 53度/500ml | 1620 | 1640 ↑ | | 25年飞天(散) | 53度/500ml | 1590 | 1590 | | 24年飞天(原) | 53度/500ml | 1780 | 1780 | | 24年飞天(散) | 53度/500ml | 1700 | 1700 | | 23年飞天(原) | 53度/500ml | 1820 | 1820 | 茅台开展市场化改革满月，"先头兵"i茅台率先交卷 ...

近日，在国台2026年全国经销商大会上，国台销售公司董事长、国台数智酒业营销有限公司副董事长刘 宏伟表示，国台将以"锻造铁军、优化政策、净化市场、规范运营"为根基，筑牢厂商合作的压舱石； 以"深化布局、贯通渠道、创新产品、升维品牌"为引擎，激活全域增长新动能 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 近日，在国台2026年全国经销商大会上，国台销售公司董事长、国台数智酒业营销有限公司副董事长刘 宏伟表示，国台将以"锻造铁军、优化政策、净化市场、规范运营"为根基，筑牢厂商合作的压舱石； 以"深化布局、贯通渠道、创新产品、升维品牌"为引擎，激活全域增长新动能 他提到，2025年，面对行业深度调整与市场竞争加剧，国台始终站在第一线，与广大经销商朋友、终端 伙伴克艰前行，稳住基本盘，拓展新增量，推动营销模式向"动销式"转型，并在品牌建设与C端运营上 扎实迈进。 2026年，国台将以锻造铁军、优化政策、净化市场、规范运营为根基，筑牢厂商合作的压舱石，保障市 场秩序公平公正、公开透明，加强内部管理，以"深化市场、贯通渠道、创新产品、升维品牌"为引擎， 激活权益增长新动能。 "行业目前还在深入调整过程中，困 ...

2月3日(周二)，贵州茅台（600519）早盘一度冲高涨超3%，站上1476元，随后震荡盘整。 消息面上，2月2日晚间，贵州茅台市场化改革满月首秀：自营电商平台"i茅台"1月月活用户超1531万， 超过145万位用户购买，成交订单超212万笔，其中飞天53%vol500ml贵州茅台酒的成交订单超143万 笔。 此前知名茅台投资人段永平也高度评价"i茅台"市场化改革措施，认为"i茅台解决了在哪里能买到真茅台 的问题，也打开了普通老百姓消费的口子"。对于增量空间，他表示："这么多家庭，每年逢年过节来上 一瓶的概率大，蚂蚁雄兵的力量是非常大的。" 此前，"i茅台"上线定价1499元的飞天茅台，数次秒空后告罄。飞天茅台(26年原装，53度/500ml)线下销 售渠道也火爆，批价也涨至1600元上方，甚至一度跃升至1710元。 投资工具方面，头部白酒企业股价单价较高，一手动辄万元，可借道食品饮料ETF(515170.SH)低门槛布 局，一手仅百元左右。食品饮料ETF(515170.SH)被动跟踪中证细分食品主题指数，持仓透明、风格不漂 移，相比纯酒类ETF，剔除尾部出清风险的酒企，更加聚焦一二线白酒龙头如贵州茅台、五粮 ...

Report Industry Investment Rating - The investment rating for stock index futures is "volatile" [1] - The investment rating for treasury bond futures is "relatively strong" [1] Core View - The A-share market is experiencing high valuations in hot sectors, with the dynamic PE of the CSI 500 index exceeding twice the standard deviation of the past 5 years. The "stock-bond seesaw effect" is evident, and regulatory authorities are emphasizing market stability. High-valuation sectors may face capital outflow pressure, and volatility is expected to increase around the Spring Festival [1] - Treasury bond futures show mixed performance, and the bond market lacks strong upward momentum under the backdrop of continuous policy support. Interest rates are expected to remain range-bound [1][2] Summary by Directory Research View - **Stock Index Futures**: The market adjusted with all three major indices down over 2%, and nearly 4,700 stocks falling. High valuations, regulatory emphasis on stability, and measures to cool the market may lead to capital outflows from high-valuation sectors and increased volatility [1] - **Treasury Bond Futures**: The 30-year contract rose 0.18%, while the 10-year and 5-year contracts declined slightly. The central bank conducted 750 billion yuan of 7-day reverse repurchases, resulting in a net withdrawal of 755 billion yuan. The bond market lacks strong upward momentum, and interest rates are range-bound [1][2] Price Changes - **Stock Index Futures**: IH, IF, IC, and IM all declined, with IC dropping 5.49% and IM down 4.71% from January 30 to February 2, 2026 [3] - **Stock Indices**: All major indices, including the Shanghai Composite 50, CSI 300, CSI 500, and CSI 1000, decreased, with the CSI 500 falling 3.98% [3] - **Treasury Bond Futures**: TS remained flat, TF and T declined slightly, and TL rose 0.13% [3] Market News - **Overall Trend**: The market adjusted throughout the day, with all three major indices down over 2%. Nearly 4,700 stocks fell, and trading volume reached 2.61 trillion yuan [1][5] - **Industry Sectors**: Only the power grid equipment and brewing sectors rose, while precious metals, non-ferrous metals, oil and gas, and semiconductor chips led the decline [5] - **Hot Concepts**: Power grid equipment stocks and liquor stocks rose, while precious metals, oil and gas, and semiconductor chip stocks declined significantly [5] Chart Analysis - **Stock Index Futures**: Charts show the historical price trends and basis trends of IH, IF, IC, and IM [7][8][9] - **Treasury Bond Futures**: Charts display the price trends, basis trends, inter - period spreads, and cross - variety spreads of treasury bond futures, as well as the yields of treasury bonds and the capital interest rates [14][15][16] - **Exchange Rates**: Charts present the exchange rate trends between the US dollar, euro, pound, yen, and the RMB, including spot and forward exchange rates [22][23][24] Member Introduction - Zhu Jintao, a master's degree holder from Jilin University, serves as the director of macro - financial research at Everbright Futures Research Institute [29] - Wang Dongying, an index analyst with a master's degree from Columbia University, focuses on stock index futures, including macro fundamentals, key industry sectors, index financial reports, and market capital tracking [29]