这是五粮液产业园区里的生态湿地（资料照片，无人机照片）。新华社发该湿地投资超过7700万元建成，每年可减少约420吨化学需氧量（COD）和约4吨 总磷的排放，同时向毗邻的宋公河提供超过400万立方米的补水量。与此同时，该公司一直在通过减少化石燃料使用，以及"煤改气""气改电"等措施升级技 术和工艺。公司还在推进两套酒糟生物质热电联产项目，旨在解决酒糟废弃物处理问题并降低对化石燃料的依赖。过去几十年来，中国高度重视绿色转型， 正稳步朝着2030年前碳达峰、2060年前碳中和的"双碳"目标迈进。中共二十届四中全会审议通过的"十五五"规划建议也呼吁，要协同推进降碳、减污、扩 绿、增长，筑牢生态安全屏障，增强绿色发展动能。除五粮液外，其他酒企也积极加入国家的绿色行动。例如，另一家位于四川的知名白酒品牌水井坊，今 年早些时候发布了一份报告，概述了其2030年碳减排目标，包括累计减少直接和间接温室气体排放至少6万吨二氧化碳当量。"没有健康的生态系统，我们就 无法酿出好酒。"周永奎说，"对酿酒企业而言，绿色发展不是一种选择，而是唯一的前进道路。" 这是五粮液产业园区里的生态湿地（资料照片，无人机照片）。新华社发新华社成都1 ...

格隆汇12月29日｜国信证券研报指出，五粮液召开第二十九届12·18共识共建共享大会，会议总结2025 年经营成果，针对当前行业及公司面临的问题，部署2026年营销工作思路，传递发展信心。面对行业需 求压力，公司主动应市，切实解决市场关切：1）加大经销商和终端激励政策，降低回款价，呵护渠道 利润和信心；2）2026年春节尊重市场需求，巩固产品和渠道基础。展望2026年经营，产品端坚守千元 价位地位、全价位协同发展，渠道端继续加强激励、多元化开拓补充增量。考虑到短期行业需求仍有压 力，略下调此前收入及盈利预测，200亿元现金分红对应26 年4.7%股息率，红利资产属性突出，支撑估 值，强调"优于大市"评级。 ...

| | | 17月64日至17月20日分同版仔33391 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 收盘价(元) | 评级券商数量 | 行化 | | 002600 | 领益智造 | 15.40 | 4 | 消费电子 | | 601088 | 中国神华 | 40.07 | 4 | 煤炭开采 | | 600694 | 大商股份 | 18.39 | 3 | 一般零售 | | 002050 | 三花智控 | 47.30 | 3 | 家电零部件 | | 000858 | 五粮液 | 109.78 | 3 | 白酒 | | 688041 | 海光信息 | 217.60 | 3 | 半导体 | | 000528 | 柳工 | 12.61 | 2 | 工程机械 | | 603766 | 降露通用 | 15.88 | 2 | 摩托车及其他 | | 603505 | 金石资源 | 19.18 | 2 | 化学制品 | | 601168 | 西部矿业 | 27.47 | 2 | 工业金属 | | | | 日期：12月22日至12月28日，南财投研通×南财快讯制图 | ...

Investment Rating - The report maintains a positive outlook on the food and beverage industry, particularly in the cyclical direction, emphasizing the importance of domestic demand and consumption [1][7]. Core Views - The report highlights the recent emphasis from authoritative media and high-level officials on the importance of domestic demand, which is crucial for the industry [7]. - Despite a recent pullback in the high-end liquor sector, the report anticipates a recovery in sales and pricing balance in the upcoming quarters, with expectations of a double-digit decline in sales year-on-year for Q1 2026, followed by stabilization in Q2 and a potential turning point in Q3 [7][8]. - The report suggests that high-quality liquor companies are currently in a strategic allocation phase, with recommendations for specific brands such as Luzhou Laojiao, Shanxi Fenjiu, Guizhou Moutai, and Wuliangye [7][8]. - For the consumer goods sector, the report identifies systemic opportunities, with a focus on CPI as a core observation indicator, predicting gradual improvement in food CPI throughout the year [7][10]. Summary by Sections Food and Beverage Weekly Insights - The food and beverage sector experienced a decline of 0.56% last week, with the liquor segment down by 0.20%, underperforming the broader market [6]. - The report notes that the top gainers included Anji Food (+29.65%) and Xichuan Food (+9%), while the biggest losers were Huanlejia (-16.35%) and Zhuangyuan Pasture (-13.19%) [6]. Liquor Sector - Moutai's bottle price is reported at 1550 RMB, with a week-on-week increase of 5 RMB, while the box price is 1560 RMB, also up by 5 RMB. Wuliangye's price remains stable at approximately 780 RMB, and Guojiao 1573 has decreased by 10 RMB to around 820 RMB [8][33]. - The Moutai dealer conference emphasized a market-oriented transformation, focusing on consumer-centric strategies and adjusting product offerings to stabilize market dynamics [8]. Consumer Goods Sector - The report recommends focusing on the restaurant supply chain, particularly in condiments and frozen foods, with specific recommendations for companies like Anji Food, Qianhe Flavor, and Tianwei Food [10]. - The dairy sector is expected to see an improved supply-demand balance in 2026, with recommendations for Yili and New Dairy [10]. Valuation Metrics - As of December 26, the food and beverage sector has a dynamic PE of 20.02x, with a premium rate of 21%, while the liquor sector has a dynamic PE of 18.50x, with a premium rate of 12% [34].

【#重庆游客来宜宾忍不住一顿夸#："太暖心了"】#春晚分会场为何选了宜宾#12月28日，中央广播电视 总台《2026年春节联欢晚会》发布四地分会场。黑龙江哈尔滨、浙江义乌、安徽合肥、四川宜宾四个风 格鲜明、各具特色的分会场将携手北京主会场，与全国各族人民共庆佳节。这不是宜宾第一次承接国家 级重磅活动，此前央视中秋晚会、央视七夕晚会等都曾落地这里，一座位于长江上游的川南城市，为啥 能被频频青睐？"来宜宾不仅能看美景、品美酒，还能免费吃燃面、免费充电，这些细节太暖心了，难 怪朋友都推荐我来。"来自重庆的游客李先生的体验感，正是宜宾"近悦远来"的生动写照。城市的出 圈，最终要落到"人"的认可上。2025年春节，宜宾接待游客738.37万人次，旅游收入45.93亿元；"五 一"假期游客超300万，收入19亿元，李庄古镇、五粮液景区、蜀南竹海等景点常年爆满，外地游客占比 超七成。 ...

"让中国白酒香飘世界！""对五粮液（000858）很有信心！"近日，在长江首城宜宾，五粮液第二十九届 12·18共识共建共享大会现场，来自全球的经销商们带着市场的回响"回家"。信心，在握手与寒暄中传 递。 激昂的乐团演奏声中，五粮液集团（股份）公司党委书记、董事长曾从钦带领高管团队立于红毯旁，向 每一位"家人"致意。目光交汇处，是风雨同舟的情谊，更是共赴未来的笃定。 全球经销商们带着市场的回响"回家" "本轮行业调整中蕴藏三大机遇。"曾从钦随后的主旨演讲声音铿锵。他的身后，是700余年不间断酿造 的古窖池，他的眼前，是行业深度调整的激荡波涛。 次日， 2025中国国际名酒博览会（以下简称"名酒博览会"）在宜宾开幕。中国酒业协会理事长宋书玉 表示："酿酒，是人类生生不息传承至今的古老产业，是流动的历史经典。" 舟大者任重。在"十四五"规划即将圆满收官、"十五五"征程即将开启的历史节点，在白酒产业面临经济 周期、消费周期、产业周期"三期叠加"的关口，作为中国白酒的"领航舰"，五粮液在名酒博览会期间展 现的一系列战略布局与实践深耕，恰似一面棱镜，折射出中国酒业破局新生的三个深层走向：重识时间 价值、重构发展空间、重 ...

五 粮 液回复：尊敬的投资者，2025年三季度报告显示，公司货币资金为1300亿余元。感谢关注！ 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，五 粮 液(000858)12月26日在投资者关系平台上答复投资者关心的问题。 投资者提问：公司现金储备充足吗？ ...

风雨如晦，鸡鸣不已。 12月18日，以"新形势 新机遇 新征程"为主题的五粮液第二十九届12·18共识共建共享大会在四川宜宾举行。 雄关漫道真如铁，而今迈步从头越。在承前启后的关键节点，行业亟需龙头企业挺身而出，以清晰的战略指引破解发展困惑、稳定市场预期。引领行业坚 定信心、鼓足干劲，确保"十五五"开好局起好步。 越是危局混沌，越渴望听见坚定而清晰的声音；越是前路莫测，越需要看见一座指引航程的灯塔。对于进入全面深度调整"深水区"的白酒行业来说，五粮 液12·18大会的意义正在于此。 正如中国酒业协会理事长宋书玉所言，站在特殊的历史节点，面对复杂的产业变革和日益多元的消费变迁，2025年的五粮液12·18大会，承载着比以往更 加艰巨、也更为深远的意义。 稳步迈向"十五五"，大国浓香的时代担当 2025年，中国经济站在"十四五"规划圆满收官与"十五五"规划谋篇布局的历史交汇点。 对于中国白酒来说，2025年则是其发展史上极不平凡、极不容易、极其艰辛的一年。 这一年，在政策调整、消费转型、存量竞争三期叠加的深度调整中，整个产业都在经历一场涉及产品结构、市场结构、消费结构的全方位、颠覆性深刻变 革。 消费升级与分级并 ...

Group 1 - The company, Qunxing Toys, confirmed that its online platform sells alcoholic beverages, specifically brands such as Wuliangye, Moutai, and Jiu Gui Jiu [1] - Investors inquired about the specific name of the company's online store for selling liquor [1] - The company responded to investor questions on an interactive platform regarding its liquor sales [1]

Group 1: siRNA Drug Development - The core viewpoint is that siRNA drugs are transitioning from rare diseases to common diseases, driven by technological upgrades and product approvals, marking a new era in targeted therapy [3][4] - siRNA drugs are characterized by strong target expansion capabilities, robust research extensibility, long-lasting effects, and low likelihood of developing resistance, making them a focus for domestic pharmaceutical companies [3][4] - Since 2016, with advancements in the GalNac delivery system and fully modified applications, siRNA drugs have entered a rapid development phase, validating their value in rare diseases and gradually moving towards common disease research [3][4] Group 2: Market Dynamics and Opportunities - The market for small nucleic acid drugs is heating up, with multinational corporations (MNCs) actively engaging in business development (BD) transactions, indicating a sustained interest in this field [4] - Chinese companies are expected to shine in this area due to their engineering advantages, particularly in chemical synthesis, allowing for rapid iteration on leading technologies [4] - The commercialization process of siRNA drugs is focused on common diseases with clear biological mechanisms, where early movers are likely to gain significant commercial benefits [5] Group 3: Industry Trends and Future Outlook - The efficiency and specificity of the GalNac delivery system present opportunities for breakthroughs in liver-targeted therapies and the exploration of previously challenging drug targets [5] - The industry is witnessing a shift towards addressing common diseases, with a focus on new disease areas and advancements in extrahaptic delivery systems [5] - The overall sentiment in the pharmaceutical sector is optimistic, with expectations of significant developments in the siRNA drug space, particularly in large indications such as cardiovascular diseases and chronic hepatitis B [3][4][5]