【国泰君安:春糖酒店展热度降低 白酒节后动销平稳】 国泰君安证券研报称,春糖酒店展可总结为“降温”“理性”,当前需求环境下品牌方、渠道方信心不足,布展、参展情况均较2024年春糖降温,预计参展人数同比减少。春糖反馈符合预期。据渠道调研,春节后白酒行业动销平稳,截至3月商务场景需求略好于2024年同期,叠加酒企控货举措,茅台、五粮液等品牌价盘表现较好。综合开门红动销反馈,预计核心酒企2025年一季度有望保持稳健较快增长,全年维度行业仍处在去库周期。随着行业迈入需求淡季,边际上3月中下旬起餐饮渠道增速略有放缓,可能对后续价格及动销预期产生扰动,关注酒企战术及战略举措动态。基于横向比较和纵向比较看,白酒板块经过近4年调整后,交易拥挤度仍相对较低、估值回归良性,战略配置价值凸显。

金融界
24 Mar
国泰君安证券研报称,春糖酒店展可总结为“降温”“理性”,当前需求环境下品牌方、渠道方信心不足,布展、参展情况均较2024年春糖降温,预计参展人数同比减少。春糖反馈符合预期。据渠道调研,春节后白酒行业动销平稳,截至3月商务场景需求略好于2024年同期,叠加酒企控货举措,茅台、五粮液等品牌价盘表现较好。综合开门红动销反馈,预计核心酒企2025年一季度有望保持稳健较快增长,全年维度行业仍处在去库周期。随着行业迈入需求淡季,边际上3月中下旬起餐饮渠道增速略有放缓,可能对后续价格及动销预期产生扰动,关注酒企战术及战略举措动态。基于横向比较和纵向比较看,白酒板块经过近4年调整后,交易拥挤度仍相对较低、估值回归良性,战略配置价值凸显。

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10