尊敬的审阅人员和品鉴读者：本文是经过严格查阅相关权威文献和资料。 全文数据有据可依，可供查证。 你有没有发现，茅台突然暂停了1499飞天的出货？这可不是因为价格跌破2000元，也不是为了应对618电商的大放量，真相竟然 是为了引导市场需求，给其他产品腾出空间。你可能会问，茅台这么做到底是明智的选择吗？ 先来看看市场的现状。茅台的1499飞天，早已成为不少消费者手中的香饽饽。它的受欢迎程度可以用疯狂来形容，特别是在一 些电商平台上，茅台每次开售，往往都会在几秒钟内就被抢购一空。这也带来了一些问题，最直接的就是市场对飞天茅台的需 求过于集中，导致其他系列产品的销售受到压制。比如茅台1935、走进五国系列等新品，由于飞天系列的强势占据了市场，许 多消费者根本没有空间去了解并购买这些新推出的产品。 不难发现，茅台此举是为了调控市场结构，打破过度依赖飞天系列的局面。你想想，如果茅台继续大规模放量飞天，市场上突 然出现一大堆的飞天茅台，产品的稀缺感就会消失，消费者的购买欲望自然也就减弱。反之，茅台暂停1499飞天的出货，恰恰 营造了稀缺感，这无形中为其他高端产品腾出了更多的空间。这不仅能提升茅台其他产品的销量，也为茅台创 ...

Core Insights - The 2025 "618" e-commerce event has set a record for its duration, lasting 37 days from May 13 to June 18, but has seen a decline in consumer enthusiasm and merchant participation compared to previous years [2][3] E-commerce Trends - The current "618" event is characterized by a focus on straightforward discount rules, replacing complex "full reduction" strategies with simpler "direct discounts," aiming to stimulate consumption [3] - Major beneficiaries of this year's "618" include home appliances and consumer electronics, while the white wine category has notably lost its previous popularity [3][4] White Wine Market Dynamics - White wine sales have not featured prominently in the initial sales reports, indicating a significant drop in consumer interest [3][4] - The overall transaction volume for white wine on platforms like Meituan has seen a dramatic increase, with a reported 200-fold growth year-on-year, but this is contrasted by a general decline in participation from white wine merchants [4][8] Merchant Sentiment - Many white wine merchants are losing interest in participating in major e-commerce promotions like "618," preferring to focus on regular promotions or traditional holiday sales [8][9] - The sentiment among merchants is that the extended duration of "618" has diluted its promotional impact, leading to a lack of excitement and lower expectations for sales outcomes [8][9] Pricing and Supply Control - The white wine industry is experiencing a trend of supply control, with manufacturers tightening online supply to stabilize prices, following previous price instability during past promotions [9][10] - Prices for major brands have been observed to decrease during the "618" event, with significant discounts being offered across various platforms [10][13] Conclusion - The white wine sector is facing challenges in adapting to the evolving e-commerce landscape, with a shift in focus towards regular sales strategies rather than reliance on large promotional events [8][9]

其中：净买入美团-W 10.74亿港元、中国移动5.97亿港元、中国海洋石油5.64亿港元、地平线机器人-W 1.81亿港元；净卖出小米集团-W 7.09亿港元、恒生中国企业4.29亿港元、快手-W 3.98亿港元、阿里巴 巴-W 3.77亿港元、中芯国际2.79亿港元。 据统计，南下资金已连续7日净卖出阿里巴巴，共计46.8408亿港元；连续9日净买入美团，共计89.4159 亿港元；连续3日净买入地平线机器人，共计19.7006亿港元。 5月28日，南下资金净买入港股35.78亿港元。 北水关注个股 美团：今日凌晨，美团闪购618大促正式拉开帷幕，闪购酒品类公布首轮战报：大促开启12小时内，白 酒整体成交额破三亿，同比去年实现超200倍增长，1499飞天茅台半日内已有超23万人预约。茅台、五 粮液、剑南春等名酒成交额均破千万元。 中国海洋石油：中国海油宣布该公司巴西Mero4项目已于巴西时间5月24日安全投产。Mero油田位于巴 西东南部海域桑托斯盐下盆地，距离里约热内卢约180公里，水深在1800到2100米之间。此次投产的 Mero4项目采用传统深水盐下油田的开发模式，即浮式生产储卸油装置（FPSO） ...