2月11日，盐津铺子跌0.12%，截至发稿，报68.08元/股，成交1.09亿元，换手率0.65%，总市值185.66亿 元。盐津铺子股价已经连续4天下跌，区间累计跌幅5.43%。 资料显示，盐津铺子食品股份有限公司位于湖南省长沙市雨花区长沙大道运达中央广场写字楼A座32 楼，成立日期2005年8月4日，上市日期2017年2月8日，公司主营业务涉及休闲食品科研、生产、销售和 农产品精深加工。主营业务收入构成为：辣卤零食44.91%，烘焙薯类15.61%，果干果冻14.56%，深海 零食12.33%，蛋类零食10.52%，其他2.06%。 从基金十大重仓股角度 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 富安达消费主题混合（004549）基金经理为李守峰、申坤。 截至发稿，李守峰累计任职时间10年52天，现任基金资产总规模8.94亿元，任职期间最佳基金回报 68.61%， 任职期间最差基金回报-40.86%。 ...

Investment Rating - The report maintains a "Buy" rating for the food and beverage sector, suggesting investors take advantage of low prices to acquire quality leading companies [6]. Core Insights - The report highlights a positive outlook for the food and beverage sector, driven by seasonal demand and improved sales performance during the Chinese New Year [1]. - It emphasizes the importance of focusing on leading brands with strong fundamentals, particularly in the liquor and dairy segments, as they are expected to outperform their peers [2][4]. Summary by Category Liquor - The liquor industry is experiencing a divergence in performance, with top brands like Kweichow Moutai and Wuliangye showing strong sales, while others face challenges [1]. - Kweichow Moutai benefits from marketing reforms and strong demand, with its product prices stabilizing above 1600 RMB [1]. - Recommendations include Kweichow Moutai, Wuliangye, and other leading brands for investment [1]. Dairy Products - Major dairy companies like Yili and Mengniu are expected to achieve strong sales during the Chinese New Year, with inventory levels remaining healthy [2]. - The report anticipates a turning point in the raw milk cycle, with prices expected to stabilize, benefiting leading dairy firms [2]. - Recommended stocks include Yili and Mengniu, which are expected to gain market share in 2026 [2]. Restaurant Supply Chain and Condiments - The report sees a recovery in the restaurant sector, supported by government policies and improved consumer confidence [3]. - Leading companies are adjusting pricing strategies to enhance profitability, with inventory levels remaining healthy [3]. - Key recommendations include Anjijia and Haitian Flavoring, which are expected to benefit from improved market conditions [3]. Snacks - The snack industry is poised for growth, with increased sales during the Chinese New Year and a shift towards efficient retail channels [4]. - Recommended stocks include Weilian and Qiaqia, which are expected to maintain high profitability levels [4].

Group 1 - In January 2026, the number and scale of share buyback plans from A-share companies decreased, with 26 companies disclosing new buyback plans compared to 35 in December 2025, indicating a decline in both quantity and scale [1] - The total proposed buyback amount from these 26 companies is approximately 5.682 billion yuan, a decrease of 46.13% from December's 10.548 billion yuan, showing a significant drop in both the number of plans and the total amount [1] - Despite the overall decline, large buybacks remain dominant, with 18 companies planning to repurchase over 100 million yuan, accounting for 69.23% of the total, reflecting strong confidence in their own value [1] Group 2 - Leading companies in the buyback amount for January include Midea Group, Kweichow Moutai, SF Express, Century Huatong, and Yanjinpuzi, with buybacks of 488 million yuan, 451 million yuan, 357 million yuan, 301 million yuan, and 218 million yuan respectively [2] - Both Midea Group and SF Express have exceeded their proposed buyback lower limits, although their buyback paces differ significantly [2]

Core Viewpoint - The leisure food sector experienced a 2.4% increase on February 4, with Wancheng Group leading the gains, while the overall market indices also showed positive movement [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4102.2, up 0.85% [1]. - The Shenzhen Component Index closed at 14156.27, up 0.21% [1]. Group 2: Individual Stock Performance - Wancheng Group (300972) closed at 209.30, with a rise of 7.33% and a trading volume of 36,300 lots, amounting to 739 million yuan [1]. - Guangzhou Restaurant (603043) closed at 18.15, up 2.83% with a trading volume of 58,500 lots, totaling 10.5 million yuan [1]. - Yanjin Puhui (002847) closed at 69.95, increasing by 2.70% with a trading volume of 49,400 lots, amounting to 344 million yuan [1]. - Other notable stocks include Ximai Food (002956) at 28.12 (+2.18%), Ligao Food (300973) at 44.20 (+2.10%), and Youyou Food (603697) at 13.78 (+2.07%) [1]. Group 3: Capital Flow Analysis - The leisure food sector saw a net outflow of 46.24 million yuan from institutional investors, while retail investors contributed a net inflow of 29.96 million yuan [2]. - Notable individual stock capital flows include Youyou Food with a net outflow of 36.51 million yuan from institutional investors and a net inflow of 3.84 million yuan from retail investors [3]. - Salted Food (002847) experienced a net inflow of 10.05 million yuan from institutional investors, while retail investors had a slight outflow [3].

Core Insights - The 2025 Hurun China Brand List was released, marking the 20th edition of the list, which now includes non-Chinese brands that serve Chinese consumers for the first time [1][6] - Apple tops the list with a brand value of 1.11 trillion RMB, followed by Kweichow Moutai at 795 billion RMB, and WeChat at 325 billion RMB, which saw the highest growth among Chinese brands [4][5] Brand Rankings - The top five brands are: 1. Apple - 1,110 billion RMB (USA, Consumer Electronics) [4] 2. Kweichow Moutai - 795 billion RMB (China) [4] 3. WeChat - 325 billion RMB (China, +38%) [4] 4. Douyin - 280 billion RMB (China, +14%) [4] 5. Tesla - 270 billion RMB (USA, New Entry) [4] Industry Insights - The consumer electronics sector has surpassed the liquor industry to become the highest-valued industry on the list, while liquor remains the highest-valued industry for domestic brands [5] - A total of 386 brands from China made the list, leading the rankings, followed by 46 from the USA and 19 from France [5] Regional Highlights - Hunan province has six brands on the list, including Furong Wang at 18th, Aier Eye Hospital at 131st, and Mango TV at 214th [5] - Shanghai is the city with the most brands on the list, contributing 136 brands, followed by Beijing with 104 [5] New Entries - 212 new brands were added to the list, primarily from the food and beverage and daily chemical industries, with notable entries like Red Bull and Coca-Cola [5][6] - The automotive sector also saw significant new entries, including Tesla and Toyota [5] Brand Value Growth - The total brand value of the listed brands reached nearly 8.8 trillion RMB, an increase of 47% from the previous year [6] - The thresholds for the top 300, 200, and 100 brands have increased, indicating a rise in brand value requirements [6]

记者2月2日从商务部获悉，商务部等九部门日前印发《2026"乐购新春"春节特别活动方案》(以下简称 《方案》)。据悉，《方案》从"好吃""好住""好行""好游""好购""好玩"等六个方面入手，打造全域联 动、全民乐享的春节消费盛宴。 此次政策的出台，为食品饮料企业带来多重政策红利与广阔发展空间，为其把握旺季、扩大销量、提升 品牌影响力提供了有力支撑。 专项行动赋能 主业是企业发展的立身之本。在此指引之下，深市食品饮料上市公司深耕核心赛道，通过优化产品结 构、完善产业布局、强化成本管控，实现经营业绩稳步增长，持续提升企业内在价值。 例如，北京燕京啤酒（000729）股份有限公司(以下简称"燕京啤酒")通过产品结构优化、全渠道发力与 成本管控，实现营收与盈利双维度提升，经营基本面持续向好；盐津铺子（002847）食品股份有限公司 (以下简称"盐津铺子")以具有地方特色的凉果蜜饯发轫，成长为一家集研发、生产、销售于一体的休闲 食品全产业链的上市公司；三全食品（002216）股份有限公司(以下简称"三全食品")深耕速冻食品赛 道，构建了覆盖全国完善的"全冷链"系统，打造了一条完整的、有足够控制力的从农田到餐桌的新型食 ...

证券之星消息，2月2日休闲食品板块较上一交易日下跌0.52%，立高食品领跌。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%。休闲食品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) | | | --- | --- | --- | --- | --- | --- | --- | | 603697 | 有友食品 | 13.54 | 9.99% | 20.37万 | | 2.64亿 | | 002582 | 好想你 | 13.44 | 5.00% | 60.87万 | | 8.11亿 | | 002557 | 治治食品 | 23.96 | 4.72% | 25.07万 | | 6.05亿 | | 002719 | 麦趣尔 | 9.14 | 4.10% | 19.09万 | | 1.76亿 | | 603777 | 来伊份 | 13.69 | 2.85% | 15.71万 | | 2.16亿 | | 300783 | 三只松鼠 | 24.21 | 1.55% | 13.83万 | | 3.36亿 | | 00299 ...

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].

Group 1 - Since January 2026, the A-share market has seen a wave of shareholder return activities, with 8 listed companies announcing various ways to reward investors, including physical gifts, discount coupons, and service rights [1][2] - This trend reflects the maturation of the Chinese capital market, indicating a diversification in how listed companies reward investors and a shift towards emotional connection and long-term value recognition in investor relations management [1][3] - Companies like Chen Ke Ming Food Co., Ltd. and Zhejiang Shou Xian Gu Pharmaceutical Co., Ltd. have initiated shareholder return activities, offering free products to shareholders based on their holdings [1][2] Group 2 - Other companies such as Quanjude Group, Furui Group, and Panda Dairy have also launched shareholder return activities in January, expressing gratitude to shareholders through various means [2] - The strategy of using products or services to reward shareholders enhances their perception of the company's value and fosters trust and long-term investment willingness, while also serving as a platform for brand promotion [2][3] - Over the past decade, more than 70 listed companies in the A-share market have conducted shareholder return activities, with over 30 companies doing so in 2025 across various sectors including consumer, cultural tourism, medical, and technology [2]

·底部机会与茶饮空间观点：相关研究报告指出价格带茶饮阿尔法成长空间广阔，为相关领域的研究分析提供了重 要参考方向，该研究报告的发布时间为2026年1月21日。 ·蜜雪大跌后核心观点阐述：a. 原材料成本变动对公司综合毛利率影响有限：柠檬、咖啡豆涨价，但其他原材料价 格同比回调，综合下来原材料因素对毛利率无太大影响，后续将做详细拆解；b. 2026年相较于2025年，因原材料 因素导致毛利率波动的概率较低；c. ·底部机会与茶饮空间观点：相关研究报告指出价格带茶饮阿尔法成长空间广阔，为相关领域的研究分析提供了重 要参考方向，该研究报告的发布时间为2026年1月21日。 ·蜜雪大跌后核心观点阐述：a. 原材料成本变动对公司综合毛利率影响有限：柠檬、咖啡豆涨价，但其他原材料价 格同比回调，综合下来原材料因素对毛利率无太大影响，后续将做详细拆解；b. 2026年相较于2025年，因原材料 因素导致毛利率波动的概率较低；c. 重申对蜜雪的长期看多观点。 ·竞争优势、业绩空间与估值分析：某企业在10元以下价格带市占率接近60%，具备极强成本优势、规模效应，供 应链壁垒深厚，竞争格局优势具备持续性。 ·其他原材料变动及综合 ...