洋河"四个聚焦"破局 在白酒行业景气度持续承压的背景下，今年以来，洋河股份正以"四个聚焦"战略为引擎，即"聚焦洋河主导品牌、聚焦中端和次高端主价格带，聚焦省内市 场和省外高地市场、聚焦主营业务"，在调整周期中开辟出逆势突围的路径。 作为洋河股份的主导品牌，海天梦一直以来都是公司的战略核心。海之蓝作为"国民经典"，是大众消费市场的绝对主力。今年3月，海之蓝第七代产品重磅 焕新登场，将基酒年限由三年延伸至三年以上，还特别加入五年以上的陈酿调味酒勾调，在品质升级的同时，海之蓝第七代在产品包装设计上也更为年轻、 时尚。今年上半年，该新品已率先在江苏省内市场投放，其凭借"品质进阶+颜值焕新"的双重优势，迅速点燃消费热情，未来有望助力洋河股份进一步夯实 江苏大本营市场优势，强化"国民经典"的品牌认知。 2025年上半年，白酒行业仍处于深度调整周期，头部酒企普遍承压。在此背景下，洋河股份（002304）在今年上半年交出营业收入147.96亿元、归母净利润 43.44亿元的成绩单，这份业绩背后，是一家老牌酒企以战略定力穿越周期的深层逻辑。 作为绵柔型白酒的开创者，洋河正通过主动调整积蓄势能：市场端，江苏大本营以71.2亿元营 ...

Investment Rating - The report maintains an "Increase" rating for the food and beverage industry, indicating a positive outlook for the sector [4]. Core Insights - The report highlights a gradual recovery in banquet consumption and a slight improvement in business consumption, suggesting that the industry is showing signs of bottoming out and potential improvement in the near future [2]. - It emphasizes three main investment themes in the liquor sector: leading brands with increasing market share, high-certainty regional brands, and resilient stocks with strong recovery potential [1][2]. - The beverage sector is expected to benefit from the recovery of dining scenarios and stable performance from major companies like Nongfu Spring, which reported steady revenue growth [3][6]. Summary by Sections Liquor Sector - The liquor industry is experiencing a recovery in banquet consumption, with business consumption still needing improvement. Major liquor companies are reforming their brands and optimizing their product offerings to adapt to market changes [2]. - Companies like Moutai and Wuliangye are focusing on high-end products, while others are launching new products at various price points to capture different market segments [2]. - The report anticipates that the demand for liquor will stabilize and improve in the second half of 2025, driven by a recovery in domestic consumption [2]. Beer and Beverage Sector - The beer segment is showing signs of recovery, with companies like Zhujiang Beer reporting a revenue increase of 6.6% year-on-year and a net profit increase of 30% [3]. - The beverage sector, particularly Nongfu Spring, is expected to maintain stable performance, with a projected revenue of 429 billion yuan in 2024, reflecting a 0.5% year-on-year growth [3][6]. - The report suggests that the beverage sector may continue to experience high growth in 2025, supported by improved consumer scenarios and effective channel management [6][7].