广元市市场监督管理局2026年度典型案例（"春雷行动2026"（一）） 一、旺苍县市场监管局查处王某某涉嫌销售假药案 2025年10月30日，旺苍县市场监管局联合县公安局在白水镇检查时，发现当事人正在销售"藏秘肾宝片""虫草伟哥"等产品共28个品规274盒，产品外包装和 说明书标示有"对前列腺炎有良好疗效""彻底治愈早泄、阳痿，对久婚不育者有很好的疗效"等内容，但未标注合法的药品批准文号。经广元市市场监管局抽 样检验认定，涉案产品为假药，当事人销售假药的行为涉嫌违反《中华人民共和国药品管理法》相关规定。2025年10月30日，旺苍县市场监管局将该案件移 送县公安局，县公安局于当日立案，并成立联合专案组开展调查，目前案件正在进一步侦查办理中。 二、利州区市场监管局查处某名酒体验馆销售侵犯注册商标专用权的商品案 2025年11月24日，该局接举报称，当事人销售的贵州茅台酒疑似假酒。执法人员立即对当事人的经营场所进行突击检查，发现涉案产品贵州茅台酒（净含量 500ml/瓶、酒精度53%vol）22瓶，标价1700元/瓶。经贵州茅台酒股份有限公司对涉案产品进行鉴定，其中19瓶与贵州茅台酒股份有限公司出厂外包装特征 不 ...

2月6日，贵州茅台大宗交易成交2500股，成交额378.75万元，占当日总成交额的0.03%，成交价1515.01元，较市场收盘价1515.01元持平。 | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-06 | 贵州茅台 | 600519 | 1515.01 | 378.75 | 0.25 | 中信证券股份有限 公司总部(非营业 | 招商证券股份有限 公司北京景辉街证 | | ...

Group 1: Food and Beverage Industry - The recent strong rally in the liquor sector is driven by a combination of macro policies, valuation adjustments, and fundamental factors, rather than a single catalyst [4][8][9] - Optimized real estate policies and supportive domestic demand measures have effectively boosted market expectations for consumption recovery [8][9] - The valuation of the liquor sector has returned to historical lows, with public fund holdings in the sector dropping to 2.9% in Q4 2025, indicating a clearer and more reasonable chip structure [8][9] - The strong performance of leading companies like Kweichow Moutai in terms of pricing and sales has confirmed the resilience of terminal demand in the liquor market [8][9] Group 2: Retail and Cosmetics Industry - The medical beauty and cosmetics sectors have shown significant growth, with notable stock performances in January, such as Four Seasons Medicine (+28.5%) and 壹网壹创 (+50.8%) [6][26][27] - Medical beauty company Giant Bio received approval for a new product, showcasing its R&D strength and market potential [27] - 美丽田园 has announced positive earnings forecasts, reflecting strong operational resilience and growth potential through strategic acquisitions and store expansions [27][30] Group 3: Semiconductor Materials Industry - The sputtering target market is expected to grow significantly, with projections indicating a global market size of 25.1 billion yuan by 2027 for semiconductor sputtering targets [15] - The supply side is dominated by overseas giants, but domestic manufacturers are transitioning from being mere substitutes to becoming global competitors [17][18] - Price increases in sputtering materials are anticipated due to rising metal costs, with major clients likely to accept these price hikes [16][18] Group 4: Cloud Computing and AI Industry - Google Cloud's revenue for Q4 2025 reached $17.7 billion, a 48% year-on-year increase, exceeding analyst expectations [20][21] - Capital expenditures for Google reached $27.9 billion in Q4 2025, a 95% increase year-on-year, with projections for 2026 capital expenditures between $175 billion and $185 billion [20][21] - Meta and Microsoft also reported strong revenue growth, driven by AI efficiencies, with Meta's Q4 revenue at $59.893 billion, a 24% increase [21][22]

贵州茅台盘中涨近2%，股价重回1500元，为2025年9月15日以来首次。 ...

茅台"少壮派"代表 据茅台融媒体中心消息，2025年6月17日至19日，茅台集团党委副书记、总经理王莉率队赴北京、 浙江拜访京东集团和阿里巴巴集团，并组织召开部分省区贵州茅台酒传统经销商座谈会。在北京召开的 贵州茅台酒传统经销商座谈会上，来自全国部分省区的40位经销商代表与茅台展开深入沟通交流，全面 分析当前茅台酒市场营销现状，系统谋划应对措施。 值得注意的是，茅台酱香酒营销公司在贵州茅台内部地位不一般。茅台酱香酒营销公司主要负责茅 台1935等茅台酱香系列酒的市场运营与销售工作。2024年和2025年前三季度，茅台酱香系列酒销售额分 别超246.8亿元和178.8亿元。 当时茅台集团党委委员张贵超曾现身参加。 至于张贵超未来职位，目前暂不明确。 【中国白酒网】茅台集团最年轻党委委员或再获提拔，"少壮派"代表张贵超拟职务晋升！ 张贵超被视为茅台"少壮派"代表，出生于1982年6月，今年43岁，是茅台集团最年轻的党委委员。 简历显示，从2000年4月起，他在茅台体系内多岗位历练，涉及制酒车间酒库、勾贮、营销、市场管理 等部门，历任车间副主任、主任、销售公司董事长、总经理助理等职，2024年8月他被提拔为贵州茅台 ...

每经AI快讯，1月29日，贵州茅台涨幅扩大至6%，股价重回1400元，成交额超166亿。 （文章来源：每日经济新闻） ...

贵州茅台涨幅扩大至6%，股价重回1400元，成交额超166亿。 ...

1月22日，贵州茅台大宗交易成交1.58万股，成交额2107.68万元，占当日总成交额的0.26%，成交均价 1333.97元，较市场收盘价1340.06元折价0.45%，其中最高成交价1340.06元，最低成交价1300元。 | 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 | | | | 类出管业部 | 是否为专场 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-22 | 责州茅台 | 600519 | 1340.06 1.34 | 1795.68 | | SHERE PART 场用 | 是最重要的 | | 客 | | 2026-01-22 | 费州房台 | 600519 | 1300 | 312 | 0.24 | 委員正是被馬路區 | 我都能 | | Ka | ...

Investment Rating - The industry investment rating is maintained as "Buy" [1] Core Views - The report highlights that the food and beverage industry is currently experiencing a market downturn, with a 2.10% decline from January 12 to January 16, 2026, underperforming the CSI 300 index by 1.53 percentage points [3][7] - Moutai has broken its rigid ex-factory price, transitioning to a market-oriented pricing mechanism, which includes a multi-channel sales strategy and a dynamic pricing adjustment system based on market demand [4] - The report suggests that despite current market data indicating a cold consumer sentiment, the valuation of the food and beverage sector is at historical lows, presenting potential investment opportunities as the market begins to recover [5] Summary by Sections Industry Performance - From January 12 to January 16, 2026, the food and beverage sector fell by 2.10%, ranking 25th out of 31 sectors, with all sub-sectors declining, including other alcoholic beverages down by 0.22%, health products down by 0.72%, and meat products down by 1.35% [3][7] Moutai's Market Strategy - Moutai has approved a market-oriented operational plan that focuses on consumer needs and market demand, restructuring its product system to better meet diverse consumer preferences and transitioning to a multi-channel sales model [4] Investment Recommendations - The report emphasizes that the food and beverage industry's valuation is at a historical low, suggesting that investors should focus on three main lines: stable demand leaders, companies innovating in products and channels, and segments with reasonable valuations post-adjustment [5] - Specific companies to watch include Anjuke Food, Guizhou Moutai, Miaokelando, Andeli, Shanxi Fenjiu, Yanjing Beer, and Salted Fish [5]

Investment Rating - The report assigns an "Overweight" rating for the food and beverage industry, indicating a positive outlook compared to the market benchmark [5][23]. Core Insights - The December CPI growth rate has accelerated, suggesting a potential recovery in consumer spending, particularly in the food and beverage sector. The report emphasizes the importance of supply chain recovery and the valuation flexibility of consumer goods [3][9]. - The report highlights the rapid advancement of the product matrix for Moutai, which is leading market reforms [3][10]. Summary by Sections Investment Recommendations - The report suggests focusing on companies with price elasticity, including Guizhou Moutai, Wuliangye, and Luzhou Laojiao. It also identifies potential recovery stocks such as Yingjia Gongjiu and Gujing Gongjiu [8]. - Beverage companies like Dongpeng Beverage and Nongfu Spring are recommended due to favorable market conditions. Additionally, low-valuation, high-dividend stocks such as China Foods and Master Kong are highlighted [8]. - For snacks and food raw materials, companies like Bailong Chuangyuan and Yanjinpuzi are recommended. Beer stocks such as Yanjing Beer and Qingdao Beer are also suggested [8]. - The report notes that the condiment sector is stable, with a recovery expected in the catering supply chain, recommending companies like Qianhe Flavor Industry and Haidilao [8]. White Spirits - Moutai's market-oriented transformation has been officially implemented, focusing on product system, operational model, channel layout, and pricing mechanism. The company aims to enhance consumer engagement and adjust pricing to market conditions [10][12]. - The report indicates that Moutai's recent market actions are expected to stimulate demand and improve sales performance [10][12]. Consumer Goods - The catering supply chain is expected to recover, with leading companies showing positive signals. The report notes that the competition in the catering industry is stabilizing, which may lead to improved market conditions [13]. - Dongpeng Beverage is projected to achieve significant revenue growth in 2025, driven by category expansion and strategic management [14]. Profit Forecast and Valuation - The report provides a detailed profit forecast and valuation for key companies, indicating a generally positive outlook for the food and beverage sector, with many companies rated as "Overweight" [16][17].