华创证券:重视白酒底部催化 大众品精选产业趋势

智通财经
Oct 22, 2025

智通财经APP获悉,华创证券发布研报称,白酒报表加速出清,头部白酒等传统消费步入底部吸筹期,后续旺季催化有望推动估值回升。大众品精选产业趋势,零食、饮料、黄酒等表现较好,而传统板块啤酒、乳业等传统龙头ROE已实现开始改善,餐饮供应链受需求影响仍在底部。白酒方面,重视三季报前后催化,优先出清绩优者及深度变革者。酒企中报开启加速出清,加快周期筑底,白酒周期筑底的三阶段:供给出清、供需再平衡、需求好转。...

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