（来源：北京商报）

　　北京商报讯 （记者 刘一博 冯若男）8月14日尾盘，三大指数震荡下跌，沪指3666.44点下跌0.46%。白酒板块2215.84点收盘下跌0.65%，其中13只白酒股下跌。

　　从个股来看，贵州茅台收盘价达1426.99元/股，上涨0.49%；五粮液收盘价达122.84元/股，下跌0.28%；山西汾酒收盘价达187.34元/股，下跌0.39%；泸州老窖收盘价达124.68元/股，下跌0.86%；洋河股份收盘价达69.69元/股，上涨1.18%。

　　国泰海通证券在其研报中指出，当下白酒面临的需求侧压力边际收窄，目前产业已处于渠道利润底，正加速迈入业绩底，考虑到政策变量，从时间点来看，2025下半年产业或仍处于深度调整，2026年或是产业周期彻底筑底的时间，且类似上轮周期，本轮业绩底和库存底且大概率先于需求底到来。

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