在兼跨南北的皖北大地上，濉溪古镇因濉河与溪河交汇而形成"口子"而得名，这片土地不仅孕育了2700年的酿酒文明，更造就了口子窖独特的兼容智 慧。当我们追寻着一缕独特的酒香而来，试图探寻杯中和谐的奥秘时，发现这杯酒里蕴藏的，正是天地、人文与时间的完美交融。 天地与人文：兼容的根基 "一方水土养一方人，更养一方酒。"新华网主持人刘燕的这句话道出了风土与美酒的血脉联系。濉溪地处中国南北地理过渡带，是南北文化交汇的重要 节点。这种特殊的地理位置造就了当地兼包并蓄的文化特质，也为口子窖的诞生提供了得天独厚的条件。 这片土地土壤肥沃，适宜耕种，充足的粮食产出为酿酒提供了物质基础。更为重要的是，濉溪的酿酒史可追溯至2700年前，有着700年连续不断的生产 历史。从汉代设置酒榷、宋代设立酒税官，到明清时期七十二酒坊的兴盛，酒文化早已深深融入这座城市的血脉。 除了优越的自然条件，深厚的历史文化积淀更是口子窖兼容智慧的源泉。历史上，这片土地吸引了无数文人墨客。竹林七贤中的刘伶、嵇康，唐代诗人 白居易等都曾在此留下足迹。"濉水清怜红鲤肥，相扶醉踏落花归"等脍炙人口的诗句，以及"闻香下马，知味停车"的典故，都是这片土地酒文化繁荣的见 ...

在兼跨南北的皖北大地上，濉溪古镇因濉河与溪河交汇而形成 " 口子 "而 得名 ，这片土地不仅孕育了 2700年的酿酒文明，更造就了口子 窖独特的兼容智慧。当我们追寻着一缕独特的酒香而来，试图 探寻杯中和谐的奥秘时 ，发现这杯酒里蕴藏的，正是天地、人文与时间的完 美交融。 天地与人文：兼容的根基 " 一方水土养一方人，更养一方酒。 " 新华网主持人 刘燕的这句话道出了风土与美酒的血脉联系。濉溪地处中国南北地理过渡带，是南北 文化交汇的重要节点。这种特殊的地理位置造就了当地兼包并蓄的文化特质，也为口子窖的诞生提供了得天独厚的条件。 这片 土地 土壤肥沃，适宜耕种，充足的粮食产出为酿酒提供了物质基础。更为重要的是，濉溪的酿酒史可追溯至 2700年前，有着700年 连续不断的生产历史。从汉代设置酒榷、宋代设立酒税官，到明清时期七十二酒坊的兴盛，酒文化早已深深融入这座城市的血脉。 岁月与杯酒：兼容的沉淀 走进半个多世纪的酒窖，时光仿佛在此凝固。从上世纪二三十年代留存至今的酒坛，表面附着着由空气中的浮尘与酯类物质形成的 " 酒苔 " ，这些看似不起眼的痕迹，正是岁月沉淀的见证。 徐钦祥指着坛中的酒花说： " 酒花绽放时间 ...

Investment Rating - The report assigns an "Accumulate" rating for the liquor industry [5] Core Insights - The liquor industry is currently at the bottom of its cycle, with the "opening red" sales expected to remain under pressure year-on-year, while brand differentiation is evident. Positive feedback from high-end liquor is significantly boosting market confidence, and a shift in style and improved expectations may catalyze liquor stock prices [2][6] Summary by Sections Market Overview - The liquor market is experiencing a deep adjustment, with sales and revenue expected to decline throughout the year. However, there are signs of marginal improvement starting from Q4 2025, with high-end brands like Moutai and Wuliangye leading the market [6] High-End Liquor Performance - High-end liquor brands are showing resilience, with Moutai and Wuliangye implementing strategies to stabilize prices and enhance channel profits. Moutai's sales performance has improved, with significant user engagement and order volume [6][7] Stock Recommendations - The report recommends stocks with price elasticity, including Guizhou Moutai, Wuliangye, and Luzhou Laojiao, as well as other brands like Shanxi Fenjiu and Yingjia Gongjiu, which are expected to clear inventory [6][7] Future Outlook - The liquor industry is believed to be at the bottom of its current cycle, with potential catalysts for stock prices including improvements in sales, price increases, and inventory reduction. Positive signals from policy changes could further enhance market sentiment [6][7]

Core Viewpoint - The article emphasizes the cultural significance of wine as a living heritage and its connection to the rich cultural tapestry of Anhui, highlighting the compatibility of different cultural elements in the production of wine [2]. Group 1 - The event "Seeing the Path of Compatibility" will be launched in collaboration with Xinhua News and Kuozi Jiao, featuring discussions on cultural heritage and wisdom related to wine [2]. - Key figures involved in the event include Shan Qixiang, Director of the Academic Committee of the Palace Museum, Xu Qinxiang, Party Secretary and Deputy General Manager of Anhui Kuozi Wine Industry Co., Ltd., and Yang Qingbing, Vice President of Xinhua News [2].

Core Viewpoint - The article emphasizes the cultural significance of wine as a living heritage and its connection to the rich cultural tapestry of Anhui province, highlighting the compatibility of different cultural elements in the production of Kuozi Jiao wine [1] Group 1: Cultural Significance - Wine is described as not just a taste but a dynamic cultural heritage, embodying the essence of civilization [1] - The article references the integration of northern and southern cultural elements in Anhui, showcasing the region's cultural diversity [1] Group 2: Company and Industry Insights - Kuozi Jiao, rooted in the fertile land of Anhui, is positioned as a product that embodies the philosophy of compatibility in its brewing process [1] - The upcoming collaboration between Xinhua News and Kuozi Jiao, titled "Seeing the Path of Compatibility," aims to explore the wisdom of cultural integration through wine [1]

证券之星消息，2月2日白酒板块较上一交易日上涨1.86%，金徽酒领涨。当日上证指数报收于4015.75， 下跌2.48%。深证成指报收于13824.35，下跌2.69%。白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 616809 | 金徽酒 | 23.98 | 10.00% | 39.46万 | | 9.15 G | | 000995 | 皇台酒业 | 17.52 | 9.98% | 62.80万 | | 10.50亿 | | 600779 | 水井坊 | 44.78 | 7.44% | 27.47万 | | 12.23亿 | | 661009 | 金种子酒 | 10.98 | 5.17% | 85.00万 | | 9.16亿 | | 000799 | 酒鬼殿 | 58.80 | 3.48% | 34.99万 | | 20.49亿 | | 603198 | 迎驾贡酒 | 41.63 | 2.46% | 13.86万 | | 5.80亿 | | 0008 ...

| 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 000995 | 三号温州 | 1 | 9.98 | 31.08亿 | 40.05 | | 600779 | 水井坊 | 1 | 7.32 | 218亿 | 16.30 | | 603919 | 我做 | 4 | 6.51 | 118亿 | 13.71 | | 600199 | 金种子酒 | 1 | 3.83 | 71.31 乙 | 11.98 | | 000799 | 酒鬼酒 | 4 | 3.59 | 191亿 | 7.84 | | 603198 | 迎驾贡酒 | 美 | 3.00 | 335亿 | 5.79 | | 600702 | 舍得酒业 | 中 | 2.82 | 193亿 | 3.23 | | 000858 | 五粮液 | 1 | 2.63 | 4183亿 | 1.72 | | 603589 | 口子窖 | | 2.35 | 180亿 | 0.13 | | 600519 | 贵州茅台 | 1 | 2.25 | 17939亿 | 4.02 | | ...

2月2日，A股市场白酒（核心股）股逆势上涨，其中，皇台酒业涨停，水井坊涨超7%，金徽酒涨超 6%，金种子酒、酒鬼酒、迎驾贡酒涨超3%，舍得酒业、五粮液、口子窖、贵州茅台涨超2%。 股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 招商证券在最新的一份研究报告中也指出，该团队近期调研了河南、安徽、四川等多地白酒（核心股） 渠道，总需求仍在下滑（双位数下滑），但符合此前预期。分场景看，商务宴请以小局为主、中高端餐 饮仍较萧条，送礼需求有部分回补。品牌侧分化明显，茅台动销表现优异，春节备货需求前置，其他品 牌承压。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 000995 | 高导演业 | 1 | 9.98 | 31.08亿 | 40.05 | | 600779 | 水井坊 | 4 | 7.32 | 218亿 | 16.30 | | 603919 | 我做 | 1 | 6.51 | 118亿 | 13.71 | | 600199 | 金种子酒 | 1 | 3.83 | 71.31亿 | 11. ...

Investment Rating - The report rates multiple companies in the consumer staples sector as "Outperform," including Guizhou Moutai, Wuliangye, and Yili [1]. Core Insights - The consumer staples industry in January 2026 shows a recovery in basic demand while hedonic consumption remains under pressure, indicating a divergence in performance across different segments [3][29]. - Among the eight key consumer industries tracked, four are experiencing positive growth (condiments, frozen food, soft drinks, and catering), while four are facing declines (high-end and above Baijiu, mass-market Baijiu, dairy products, and beer) [29]. Summary by Segment Baijiu (High-end and Above) - In January, the revenue for high-end Baijiu reached 47 billion yuan, a year-on-year decline of 14.0%. The price pressure is significant, with expectations of over a 10% price drop throughout the year due to high inventory levels [11]. Baijiu (Mass-market and Below) - The mass-market Baijiu segment generated 22.9 billion yuan in January, down 3.0% year-on-year. Despite the decline, the segment shows resilience due to rigid demand and adaptability to consumption scenarios [13]. Beer - The beer industry reported revenues of 17 billion yuan in January, a decrease of 7.1% year-on-year. The demand was affected by adverse weather and the delayed Spring Festival, leading to a cautious inventory approach by distributors [15]. Condiments - The condiment sector achieved revenues of 46.9 billion yuan in January, reflecting a year-on-year growth of 3.5%. The recovery in the catering channel and increased demand from small and medium-sized businesses are key drivers [17]. Dairy Products - The dairy sector's revenue was 43.5 billion yuan in January, down 3.3% year-on-year. The demand remains under pressure, but a potential recovery is anticipated in the coming months due to low base effects [19]. Frozen Food - The frozen food segment saw revenues of 14.99 billion yuan in January, with a year-on-year increase of 8%. The demand is supported by pre-Spring Festival stocking and favorable weather conditions [21]. Soft Drinks - The soft drink industry generated 96.2 billion yuan in January, with a modest growth of 1.1% year-on-year. Increased promotional activities indicate heightened market competition [24]. Catering - The catering sector reported revenues of 16.2 billion yuan in January, up 2.5% year-on-year. The demand is gradually improving, particularly in small and medium-sized restaurants [26].

天佑德酒去年的业绩同样大幅下滑，公司预计实现归母净利润421.35万元至632.02万元，同比下降85%-90%；扣非净利润同比降幅更是高达92.79%-95.20%。 对此，天佑德酒表示，2025年白酒行业步入深度调整周期，部分消费场景需求不足、恢复不及预期，消费需求承压，导致公司自有品牌中高档产品的占比下 降，营收下降。 水井坊2025年的业绩表现也不尽如人意，公司预计实现营业收入30.38亿元，同比下降42%；归属于母公司所有者的净利润3.92亿元，同比下降71%，其中Q4 净利润同比下降70%，弱于多数券商预估。 对于业绩下滑的核心原因，水井坊坦言，2025年白酒行业受宏观经济周期、产业调整周期与政策调整多重因素叠加影响，进入深度调整阶段，传统商务宴请 等核心消费场景恢复缓慢，行业整体库存高企，终端动销疲软，这一行业共性压力也直接传导至水井坊的经营端。 面对每天上千份上市公司公告该看哪些？重大事项公告动辄几十页几百页重点是啥？公告里一堆专业术语不知道算利好还是利空？请看智通财经 公司新闻部《速读公告》栏目，我们派驻全国的记者们将于公告当晚为您带来准确、快速、专业的解读。 智通财经1月30日讯（记者 朱 ...