21世纪经济报道记者贺泓源、实习生徐鸿儒 作为春节期间最大流量场，各方对于央视春晚效应寄予厚望。 2026年1月20日，在宜宾两会期间，宜宾市政协委员、市文化广播电视和旅游局副局长刘勇表示，办好 央视春晚分会场，是今年工作的重中之重。 刘勇提到，宜宾将实施"跟着春晚游宜宾"计划。"我们要把春晚的镜头语言，转化为可游、可感、可消 费的旅游线路和场景。"他说。春节期间，6大主题活动、6条精品线路及系列优惠政策将同步推出， 从"三江光影秀"到"长江大庙会"，活动热潮将延续2026年上半年。 刘勇还透露，宜宾计划投入超千万元，设计新一轮文旅消费券等优惠活动，让政策红利精准直达游客， 让"头回客"变成"回头客"。更大的目标在于，借此东风，宜宾正力争在高能级商业演唱会、知名音乐节 引进上实现"零的突破"，并持续办好熊猫音乐嘉年华、长江落日音乐会等本土品牌活动。 2025年末，中央广播电视总台《2026年春节联欢晚会》分会场发布，包括黑龙江哈尔滨、浙江义乌、安 徽合肥、四川宜宾四地。 还需看到，宜宾此前尝到了晚会经济的甜头。 据四川日报，2023年央视中秋晚会让宜宾李庄知名度大幅提升。在2025年上半年，李庄接待游客约33 ...

1月3日，"小茅i茅台"微信公众号发布消息，在官宣超10万名用户买到心仪产品的同时，还宣布自1月4 日至春节前，每人每日可购买的53%vol 500ml贵州茅台（600519）酒（2026）最大数量调整为6瓶。 有行业人士猜测，茅台为了满足春节前旺盛需求，每日投放量不会有太大调整，从每人每日最多可购买 12瓶调整到6瓶，意味着将让更多用户可以买到普茅，此举回应了更多消费者想要购买到茅台酒的诉 求。 编辑|段炼 叶峰 易启江 校对|黄博文 1月2日，53%vol 500mL2026年份飞天茅台延续了前一日的火爆，开售后半小时内再度售罄。 根据官方发布信息，后续2019年至2024年份飞天茅台、精品茅台及马年生肖酒等产品将陆续上架，形成 全品类矩阵。 记者|熊嘉楠 据了解，1月1日53%vol 500mL贵州茅台酒（2026）正式登陆i茅台开售。根据平台规则，本次销售每人 每日限购12瓶，单笔订单每6瓶按整箱发出。 ...

与此同时，i茅台APP完成焕新改版，原"享约·申购"与"畅享·云购"整合为统一"i购"入口，1499元/瓶的53%vol 500ml 2026年份飞天茅台于当日9时正式开 售，每人每日限购12瓶，半小时内即告售罄。后续2019至2024年份飞天茅台、精品茅台及马年生肖酒等产品将陆续上架，形成全品类矩阵。 2026年1月1日，贵州茅台酒股份有限公司100%控股的"贵州爱茅台数字科技有限公司"正式注册成立，新公司注册资本6亿元，法定代表人为茅台集团数字 与信息管理部主任王小鹏，i茅台相关业务将纳入其运营体系。 | 统一社会信用代码 | 91520198MAK60UFG78 | 企业名称 | 贵州爱茅台数字科技有限公司 | | | | --- | --- | --- | --- | --- | --- | | 法定代表人 | 王小鹏 | 登记状态 | 存续(在营、开业、在册) | 成立日期 | 2026-01-01 | | | | 注册资本 | 60000万元 | 其曾资本 | | | 组织机构代码 | MAK60UFG-7 | 工商注册号 | 520198000209112 | 纳税人识别号 | 91520198 ...

Group 1 - The Hong Kong stock market experienced a strong start to 2026, with the Hang Seng Index rising by 2.76% to 26,338.47 points, and the Hang Seng Tech Index increasing by 4% to 5,736.44 points. The market turnover reached 140.86 billion HKD, showing an increase from the previous trading day [1] - Baidu Group's AI chip company Kunlun has submitted a listing application to the Hong Kong Stock Exchange, with its valuation rising from approximately 13 billion RMB in 2021 to 21 billion RMB by July 2025 [3] - The Hong Kong IPO fundraising amount for 2025 reached 285.69 billion HKD, a significant increase of 224% year-on-year, with 117 companies listed, marking a growth of 67.14% [2] Group 2 - The Turkish government announced that from January 2, 2026, Chinese passport holders will enjoy visa-free travel and transit, allowing a maximum stay of 90 days within any 180-day period [2] - Multiple public fund institutions have released optimistic investment strategies for 2026, with technology being a key focus area. They expect market dynamics to shift from valuation-driven to a dual drive of "profit and valuation" [2] - The European manufacturing PMI for December 2025 was reported at 48.8, below expectations and previous values of 49.2 [8]

2026年1月1日，1499元/瓶的53%vol 500mL2026年份飞天茅台于9时正式开售，每人每日限购12瓶，半小时内即告售罄。 1月2日，53%vol 500mL2026年份飞天茅台延续了前一日的火爆，开售后半小时内再度售罄。 每经记者｜熊嘉楠 每经编辑｜何小桃 肖芮冬 《每日经济新闻·将进酒》记者从相关工商查询系统获悉，2026年1月1日，贵州爱茅台数字科技有限公司成立，由上市公司贵州茅台全资控股，注册资本6 亿元，注册地位于贵州省贵阳市，法定代表人、董事长为王小鹏，总经理为王华林。根据公开报道，王小鹏系茅台集团数字与信息管理部主任，王华林是 贵州茅台酒销售公司副总经理。 据了解，"i茅台"App上线于2022年，也是茅台线上营销和数字化转型的主要抓手之一。截至2025年5月，注册用户突破7600万。在此之前，"i茅台"主要抽 签销售生肖茅台等非标产品和系列酒等产品。 近日，"i茅台"App购物页面进行全面焕新，并调整升级部分功能板块。其中，原有的"享约·申购"与"畅享·云购"将整合升级为统一的"i购"入口。新用户需 提前下载并完成"i茅台"App的注册，老用户请确认App为当前最新版本。点击"i茅 ...

根据官方发布信息，后续2019年至2024年份飞天茅台、精品茅台及马年生肖酒等产品将陆续上架，形成 全品类矩阵。 记者从相关工商查询系统获悉，2026年1月1日，由上市公司贵州茅台全资控股，注册资本6亿元，注册 地位于贵州省贵阳市，法定代表人、董事长为王小鹏，总经理为王华林。根据公开报道，王小鹏系茅台 集团数字与信息管理部主任，王华林是贵州茅台酒销售公司副总经理。 据了解，"i茅台"App上线于2022年，也是茅台线上营销和数字化转型的主要抓手之一。截至2025年5 月，注册用户突破7600万。在此之前，"i茅台"主要抽签销售生肖茅台等非标产品和系列酒等产品。 近日，"i茅台"App购物页面进行全面焕新，并调整升级部分功能板块。其中，原有的"享约·申购"与"畅 享·云购"将整合升级为统一的"i购"入口。新用户需提前下载并完成"i茅台"App的注册，老用户请确认 App为当前最新版本。点击"i茅台"App首页商品图片或底部菜单"i购"进入购买页面直接购买。 2026年1月1日，1499元/瓶的53%vol 500mL2026年份飞天茅台于9时正式开售，每人每日限购12瓶，半 小时内即告售罄。1月2日，53%vo ...

Market Overview - On December 31, A-shares opened slightly higher with the Shanghai Composite Index up 0.09% at 3968.73 points, the Shenzhen Component Index up 0.17% at 13627.26 points, and the ChiNext Index up 0.15% at 3247.74 points [1] - Key sectors showing gains included home appliances, real estate, and consumer electronics, while the education sector was notably active with stocks like Kevin Education and Dou Shen Education rising over 5% [1] Company News - Tianpu Co. announced a suspension of trading due to significant stock price fluctuations, with a cumulative increase of 718.39% from August 22 to December 30, indicating a serious deviation from the company's fundamentals [2] - Zhaofeng Co. plans to redirect unused fundraising from a 300,000 sets/year electric vehicle control project to the industrialization of humanoid robots and high-end precision components for smart driving, aiming for substantial production capacity increases [2] - Jiamei Packaging's stock price has significantly diverged from its fundamentals, and the company may apply for a trading suspension if prices continue to rise abnormally [2] Industry Insights - Zijin Mining expects a net profit of approximately 51-52 billion yuan for 2025, representing a year-on-year increase of about 59%-62% [3] - Shengxin Lithium Energy plans to acquire a 30% stake in Sichuan Qicheng Mining for 2.08 billion yuan, which will lead to full ownership of the company [3] - Salt Lake Co. intends to acquire a 51% stake in Wuku Salt Lake Co. for 4.605 billion yuan, which will make it a subsidiary [3] - Zhejiang Rongtai is set to issue H-shares to enhance its international strategy and expand overseas production capacity [3] Emerging Trends - The humanoid robot sector is gaining traction, with reports of supply chain companies visiting North America, anticipating the release of Tesla's Optimus project [6] - The Ministry of Education plans to advance AI in education, with policies expected to be released next year to enhance AI education and applications [7] - The commercial aerospace sector is being promoted by the National Defense Science and Technology Bureau, emphasizing the importance of developing a strong aerospace industry [8] - The sodium battery market is set for large-scale application in various fields by 2026, marking a significant shift in battery technology within the renewable energy sector [12]

Core Viewpoint - The recent price fluctuations of Moutai products, particularly the significant increase in the price of the Snake Year Moutai, have raised concerns about the short-term pricing logic in the market [1][4]. Price Trends - Moutai products began to see price increases starting from the evening of December 23, with the 25-Year Flying Moutai rising by 40 yuan per bottle to reach 1600 yuan per bottle [4]. - The Snake Year Moutai experienced a notable price surge, jumping from 1770 yuan per bottle to 2000 yuan per bottle, marking a daily increase of over 13% [4]. Market Demand and Speculation - Despite the price increases, a senior liquor dealer indicated that market demand has not changed significantly, attributing the price rise to psychological factors and inter-dealer demand rather than actual consumption [5]. - There are rumors regarding the potential discontinuation of the Snake Year Moutai, which could enhance its scarcity and attract investors or collectors [5]. Upcoming Events Impacting Prices - The upcoming Moutai dealer conference on December 28 is anticipated to influence short-term price trends, with speculation that new product strategies may be announced [6]. - The market is particularly focused on the potential reduction of non-standard products, which could tighten supply in certain segments and support prices [6]. Industry Sentiment - Most industry insiders maintain a rational perspective on the recent price movements, suggesting that the psychological-driven price increases lack long-term support [6]. - The future market trajectory will depend on the recovery of demand and the policies released by Moutai during the dealer conference [6].

Core Viewpoint - The management of Shanxi Fenjiu emphasizes "rationality" as a key theme in response to the challenges faced by the liquor industry this year, highlighting the need for a balanced approach to consumption and pricing [1][4]. Financial Performance - In the first three quarters of the year, Shanxi Fenjiu achieved a revenue of 32.924 billion yuan, representing a year-on-year growth of 5%, and a net profit attributable to shareholders of 11.405 billion yuan, with a slight increase of 0.48% [1]. - For the third quarter alone, the company reported total revenue of 8.960 billion yuan, a year-on-year increase of 4.05%, while the net profit attributable to shareholders decreased by 1.38% to 2.899 billion yuan [3]. Market Challenges - The liquor industry is currently facing significant challenges, with many companies experiencing pressure on performance. Among 20 A-share listed companies, only Guizhou Moutai and Shanxi Fenjiu have managed to achieve growth in both revenue and net profit [1]. - The chairman of Shanxi Fenjiu acknowledged the difficulties in the industry, noting that traditional consumption patterns driven by government and business scenarios have largely failed this year [3]. Strategic Focus - For the upcoming year, Shanxi Fenjiu plans to focus on four main areas: national expansion 2.0, youth-oriented strategies 1.0, internationalization 1.0, and precise consumer services [6]. - The company aims to optimize inventory structure, stabilize pricing systems, enhance consumer engagement, and promote the synergy of its three major brands [6].

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry [7][55]. Core Views - The liquor sector is experiencing a significant performance decline, with most companies entering a rapid clearing phase, except for Guizhou Moutai and Shanxi Fenjiu, which still show slight growth. The impact of alcohol prohibition policies has led to a decrease in high-end and sub-high-end consumption, resulting in downward price adjustments and increased promotional activities, compressing profit margins across the industry. Despite these challenges, leading companies demonstrate strong risk resistance, with a consensus on inventory reduction and a focus on long-term value stocks such as Guizhou Moutai, Wuliangye, and Luzhou Laojiao [5][53][55]. Summary by Sections Industry News - Jiangsu Wine Association aims for revenue exceeding 100 billion yuan by 2030. Sales of liquor on e-commerce platforms have increased by over 50% since the start of the Double 11 shopping festival. Hebei province reported a more than 10% decline in liquor production from January to September [4][16]. Company News - Guizhou Moutai opened its first cultural experience center in Anhui. Wuliangye reported revenue of 60.945 billion yuan for the first nine months. Luzhou Laojiao launched a new zodiac wine for the Year of the Horse and achieved revenue of 23.127 billion yuan [4][17]. Liquor Sector Insights - The liquor industry is undergoing a significant adjustment, with a focus on inventory reduction and maintaining profitability. The report suggests monitoring high-dividend leaders and flexible stocks that have undergone prior adjustments [5][53]. Consumer Goods and New Consumption - The seasoning sector is under pressure due to restaurant demand but benefits from improved raw material costs. The frozen food sector is facing challenges due to weak demand in restaurants and baking, while the snack food sector is experiencing slower store opening speeds. The beverage sector remains strong, with new consumption opportunities emerging [6][54][55]. Key Company and Profit Forecasts - The report provides a detailed forecast for various companies, indicating a buy rating for several key players, including Luzhou Laojiao, Wuliangye, and Guizhou Moutai, with projected earnings per share (EPS) and price-to-earnings (PE) ratios for the coming years [9][56].