证券之星食品饮料行业周报：2025年7月7日-2025年7月11日，沪深300指数上涨0.82%，申万食品饮料指 数上涨0.93%。前五大上涨个股分别为：国投中鲁、良品铺子、皇台酒业、海融科技、交大昂立。 机构观点 国元证券本周观点(含个股)： 白酒方面，当前白酒需求暂时承压，建议关注护城河宽阔，品牌、渠道力领先，韧性强的高端酒企，如 贵州茅台、五粮液、泸州老窖，以及竞争格局较好、势能向上的区域领先酒企。大众品方面，黄酒消费 热度渐起；啤酒消费逐渐进入旺季；休闲零食、能量饮料等细分赛道景气度高；餐饮供应链逐渐修复； 乳业上游供给端原奶价格底部企稳，龙头乳企韧性较强；健康趋势下，代糖概念迎来新机遇。建议关注 会稽山、古越龙山、青岛啤酒、重庆啤酒、东鹏饮料、三只松鼠、海天味业、伊利股份、新乳业、百龙 创园等。 东海证券本周建议(含个股)： 据南都•湾财社，泸州老窖年度股东大会上，董事长刘淼宣布已研发28度国窖1573，将适时投放市场， 公司还在研发更低度数白酒。此前五粮液也表示将推29度酒以抓住年轻群体。新修订的"禁酒令"下，政 白酒板块建议关注高端酒和区域龙头，个股建议关注贵州茅台、五粮液、泸州老窖、山西汾酒、 ...

白酒行业进入深度调整期的当下，酒企与"流量渠道商"的战略合作正掀起新一轮浪潮。7月10日，北京商报记者从胖东来创始人于东来社交平台账号处获 悉，胖东来与宝丰酒业合作推出的"自由爱"单品预计年内实现营收约10亿元。 8 搜同款 > 百有(本地 1987 071 酒鬼自由爱馥郁香型白酒 酒精度:52%vol ○ 净含量:550mL 酒鬼酒股份有限公司 @胖东来于东来 思想 · 文化·品位·品质 …… 湘西的精神、 湘西的传奇和胖东来的作品·让生活像艺 155 术一样浪漫和唯美! ... 展开 2025-6-29 19:33 IP属地:河南 图片来源 近年来，酒企与流量渠道商合作推出新品的案例并非个例。从胖东来与宝丰酒业推出"自由爱"，到京东与洋河股份推出"洋河大曲"，再到胖东来联手酒鬼酒 推出"酒鬼酒·自由爱"，近年来，酒企与流量渠道商频频通过推出联名定制产品上演跨界合作的戏码，早已成为行业引爆资本市场与终端市场的"流量密 码"。如今，当"自由爱"有望突破10亿元营收、洋河大曲48小时销量破万瓶时，"酒企+流量渠道商"模式能否复制以解决行业动销及压货难题？ 联手推新 知名酒企纷纷与流量渠道商展开深度合作推出联名定 ...

近日，胖东来创始人于东来在社交平台账号上透露："自由·爱单品今年可能十亿左右，努力把胖东来和 合作企业成就为国际品质标准企业。" 资料显示，"宝丰·自由爱"由胖东来与宝丰酒厂于2022年底联合推出。就在不久前，胖东来与酒鬼酒合 作打造的"酒鬼·自由爱"新品包装也已发布。 点评：胖东来通过与白酒企业合作开发自有品牌，不仅丰富了其产品线，还提升了其品牌价值和市场竞 争力。这种合作模式对于零售企业来说是一种创新，尤其是在白酒行业，这种跨界合作可能为传统白酒 企业带来新的销售渠道和消费群体。 NO.3茅台、习酒驰援黔东南州灾后重建 NO.2于东来：自由·爱单品今年收入或达10亿元 公开资料显示，谌超生于1989年6月，四川西昌人，中共党员，重庆邮电大学项目管理专业毕业，研究 生学历。谌超自2012年大学毕业后进入泸州老窖集团，曾先后在泸州老窖集团的多个公司担任"一把 手"，拥有丰富的互联网、酒类供应链、金融、投资、管理等综合能力。 点评：丰谷酒业在完成破产重整后，迎来了一位具有丰富酒类行业经验的年轻董事长。丰谷酒业的重组 和新管理层的加入，可能被视为行业积极变化的信号。如果丰谷酒业能够成功复苏，这可能会增强市场 对酒 ...

又一款白酒将迈入10亿级大单品行列。 于东来在自己个人社交媒体上表示，"自由爱"单品今年营收可能达10亿元左右。 公开资料显示，"宝丰·自由爱"系胖东来常年销售排名Top 3产品，其以75元/瓶的售价受到消费者追捧， 根据部分不完全统计数据，"自由爱"系列产品单日销售量在3000箱至4000箱，而在节假日甚至可能高达 约7000箱，庞大的销售量让合作方宝丰酒业从濒临倒闭变为跻身清香型酒企的"第二梯队"，根据行业披 露，宝丰酒业通过代工生产"自由爱"在2024年获得约5亿元销售额。 7月9日，南都湾财社-酒水新消费指数课题组记者注意到，胖东来创始人于东来在其个人社交媒体上近 期发文，表示胖东来自有白酒品牌"自由爱"单品今年营收可能达10亿元左右。于东来还表示："努力把 胖东来和合作企业成就为国际品质标准企业"。 据南都湾财社记者了解，"自由爱"是胖东来自有白酒品牌名称，而营收有望达10亿元的产品，主要系指 胖东来与宝丰酒业于2022年底联合推出的清香型白酒"宝丰·自由爱"（或称自由爱1995）。另据南都湾 财社记者此前报道，胖东来与酒鬼酒合作打造的"酒鬼·自由爱"新品包装也已发布。 值得注意的是，今年开始胖东来 ...

Investment Rating - The report maintains a recommendation for the food and beverage industry, indicating a positive outlook for structural growth opportunities [20][21]. Core Insights - The report highlights a stabilization in the price of Moutai, suggesting a potential improvement in sentiment within the liquor sector. It notes that while short-term demand fluctuations may lead to a slowdown in the liquor sector in Q2 2025, leading companies are working to maintain price stability, and smaller companies are adapting to consumer trends [20][21]. - The snack segment is experiencing stable performance in traditional channels, with rapid growth in membership supermarket channels. New products are expected to be launched in the second half of 2025, and the pet food sector is also showing good growth [20][21]. - The report emphasizes the importance of product quality enhancement, channel expansion, and innovative marketing strategies as key methods for companies to navigate current market challenges [20][21]. Summary by Sections Core Company Tracking - Luzhou Laojiao is improving market inventory and plans to expand its distribution network to four million terminals over the next five years. The company is also developing lower-alcohol products [11][12]. - Yanghe Co. has appointed new leadership, which is expected to drive organizational adjustments and enhance operational dynamics. The company continues to innovate its product line [12]. - Jiugui Liquor is focusing on channel adjustments and has partnered with a retail chain to explore new growth avenues [13]. - New Dairy is benefiting from cost advantages, leading to stronger profit release capabilities, with a focus on low-temperature milk products [14]. - Jinzai Food is in a cautious operational phase, with stable performance in traditional and snack channels [15][16]. - Zhongchong Co. is seeing continued growth in its self-owned brands, despite some export challenges [17]. - Petty Co. is expanding its product offerings in both snacks and staple foods, with a focus on New Zealand's production capacity [18]. - Anji Food has successfully listed its H shares, raising approximately 2.302 billion HKD [19]. Investment Recommendations - The report suggests focusing on growth sectors influenced by changing consumer trends, with specific recommendations for companies like Zhongchong Co., Guobao Pet Food, and Nongfu Spring [21]. - It also highlights structural growth opportunities in the restaurant chain recovery, recommending companies such as Zhujiang Beer and Yanjing Beer [21]. - For traditional consumer goods, it advises investing in leading liquor companies and dairy products, with a focus on companies like Yili and New Dairy [21]. Industry Overview - The food and beverage industry is characterized by a total of 143 listed companies with a total market capitalization of 478.1 billion RMB [4]. - The industry has shown a mixed performance, with a 1-month absolute performance of -4.7% and a 12-month performance of 28.2% [6].

Core Viewpoint - The article discusses the contrasting performance of cyclical sectors and technology stocks, highlighting a rebound in cyclical sectors such as banking, non-ferrous metals, liquor, and new energy, while technology stocks, particularly in the semiconductor and AI hardware sectors, experienced a pullback [1][4]. Group 1: Banking Sector - The banking sector saw significant gains, with stocks like China Construction Bank and Shanghai Pudong Development Bank reaching new historical highs [2]. - The stock of Changxin Bochuang (300548), a leader in AI hardware, initially dropped over 4% but later rebounded to close up 2.28%, also hitting a historical high during the session [2]. Group 2: Marine Economy - The marine economy sector showed strong performance, with sub-sectors such as marine engineering equipment, oil and gas extraction, aquaculture, and wind power experiencing notable increases [6]. - A surge in marine engineering equipment stocks was observed, with companies like Deepwater Haina and Daye Intelligent hitting the 20% daily limit up [6][8]. - Recent government meetings and policy announcements indicate a push towards developing a modern marine industry system, with a focus on various marine-related sectors [8][9]. Group 3: Consumer Sector - The consumer sector rebounded, particularly in the sugar substitute concept, with stocks like Sanyuan Biological and Bolingbao seeing significant gains [11]. - The liquor sector also performed well, with major brands like Moutai, Wuliangye, and Luzhou Laojiao all experiencing increases, and the stock of Jiu Gui Jiu rising over 7% [11][15]. - Analysts suggest that the liquor sector is currently at a historically low valuation, presenting potential bottom-fishing opportunities, especially for high-end brands and resilient regional leaders [15].

上市进行时 镁信健康 36氪获悉，港交所文件显示，上海镁信健康科技集团股份有限公司向港交所递交上市申请，联席保荐人 为高盛、中金公司、汇丰。 极智嘉 36氪获悉，港交所文件显示，极智嘉将在香港首次公开募股（IPO）中发行约1.4亿股股票，每股发行价 16.8港元。该公司寻求通过此次发行筹资至多23.6亿港元（3.01亿美元），仍须视发行规模是否调整和 超额配售选择权而定。预计将于7月9日挂牌上市。摩根士丹利和中金公司为联席保荐人。 亿纬锂能 36氪获悉，据港交所，惠州亿纬锂能股份有限公司向港交所提交上市申请，独家保荐人为中信证券。 镁佳 6月29日深夜，有网民爆料称，《桂林市2025年度事业单位公开考试招聘工作人员进入考察人选名单》 中，考生苏某某与曾因虐猫被华中农业大学给予严重警告处分的苏某某同名同姓，疑似为同一人。6月 30日，记者从招聘单位桂林市同安镇获悉，二者确实为同一人。"已经关注到此事，目前处于政审考察 阶段，考察结果需持续关注桂林市人社局官网。" 据了解，2024年12月7日，华中农业大学曾发布情况通报称，在校生苏某某于10月至11月，共将5片人用 某类药物碾成粉末，分次兑水投喂了校内流浪猫。学 ...

招聘单位回应考生确系虐猫当事人，目前处于政审考察阶段，考察结果需持续关注桂林市人社局官网。 整理 ｜孙安雅 点击上方【36氪随声听】，一键收听大公司热门新闻。听完音频记得添加进入 【我的小程序】 中哟！ 镁信健康 36氪获悉，港交所文件显示，上海镁信健康科技集团股份有限公司向港交所递交上市申请，联席保荐人为高盛、中金公司、汇 丰。 极智嘉 36氪获悉，港交所文件显示，极智嘉将在香港首次公开募股（IPO）中发行约1.4亿股股票，每股发行价16.8港元。该公司寻求 通过此次发行筹资至多23.6亿港元（3.01亿美元），仍须视发行规模是否调整和超额配售选择权而定。预计将于7月9日挂牌上 市。摩根士丹利和中金公司为联席保荐人。 亿纬锂能 36氪获悉，据港交所，惠州亿纬锂能股份有限公司向港交所提交上市申请，独家保荐人为中信证券。 镁佳 36氪获悉，据港交所，镁佳股份有限公司在港交所递交上市申请，联席保荐人为中金公司、花旗、德意志银行。 蓝思科技 36氪获悉，蓝思科技公告，公司已按照有关规定在香港联交所网站刊登并派发本次境外发行上市H股招股说明书。公司本次全 球发售H股基础发行股数为2.62亿股，H股发行价格区间初步确定 ...

6月30日下午1点30分，酒鬼酒股价涨停，当日收盘报43.99元/股，市值一日飙升9.2亿元。 资本市场的强烈反应，源于前一晚胖东来创始人于东来在社交平台发布的一条短视频。视频展示了胖东 来与酒鬼酒联合打造的"酒鬼·自由爱"馥郁香型白酒，于东来配文："湘西的精神，湘西的传奇和胖东来 的作品，让生活像艺术一样浪漫与唯美"。这也标志着双方跨界合作的产品将正式落地。 胖东来仅凭河南15家门店，便创造出近170亿元的年销售额，其极致服务理念和精准选品能力，在零售 界已成模板；随着其对线上业务的加码，将对新零售市场产生更大影响，这也使得酒鬼酒与胖东来的合 作备受白酒行业关注。 酒鬼酒与胖东来的合作是传统白酒企业与零售平台的碰撞，类似的案例还有近期洋河新品洋河大曲高线 光瓶酒与京东的战略合作；另外，今年即时零售巨头也带着巨额补贴"杀"入酒水市场，可以说，新零售 对于酒水的渠道正在重塑，传统经销商渠道加速洗牌，渠道的权力结构也在发生转移。 酒鬼酒借胖东来放大声量 新品能否成为"爆品"？ 今年2月19日，胖东来商贸集团有限公司董事长于东来率队前往酒鬼酒公司考察，与湖南省湘西州委书 记刘涛，中粮酒业党委书记、董事长高峰就合作事 ...

Core Viewpoint - The article highlights the recent surge in the stock price of JiuGuiJiu, driven by the upcoming launch of a new product in collaboration with the founder of Pang Donglai, which is expected to enhance the brand's market presence and sales channels [1][5]. Group 1: Product Launch and Collaboration - JiuGuiJiu is set to launch a new product named "JiuGuiJiu·Freedom Love," with a capacity of 550ml and an alcohol content of 52 degrees, expected to be available in July [2][3]. - The collaboration between JiuGuiJiu and Pang Donglai began earlier this year, focusing on retail channel expansion and product innovation to boost the white liquor market [4]. - Pang Donglai operates 13 stores in Henan, achieving a total sales revenue of 16.964 billion yuan in 2024, which has garnered national attention due to its high standards in service and product selection [4]. Group 2: Market Strategy and Growth - JiuGuiJiu's management emphasized the importance of differentiated products to meet diverse market demands and plans to enhance its channel value chain, including expanding into restaurants, supermarkets, and new retail e-commerce channels [4]. - The company is also preparing to launch lower alcohol content products (33 degrees, 21 degrees, and 18 degrees) and aims to revive the Xiangquan brand, with production capacity expected to gradually increase this year [5]. - As of June 30, JiuGuiJiu's stock price rose nearly 7%, with a market capitalization exceeding 14 billion yuan, indicating positive investor sentiment [5].