金吾财讯 | 中信证券表示，2026年春季糖酒会呈现出较为明确的行业底部特征，本届酒店展规模为近五年最小，市场热度明显回落。头部酒企积极推进精益化运营，以消费者为中心深耕市场建设。当前白酒行业已进入深度调整阶段，市场悲观情绪与悲观预期已得到较大程度消化。该机构认为，随着消费环境改善或迎来拐点，消费根基扎实的高端酒企有望率先引领板块复苏。目前行业处于周期底部，配置性价比逐步凸显，建议逢低增配白酒板块。
金吾财讯 | 中信证券表示，2026年春季糖酒会呈现出较为明确的行业底部特征，本届酒店展规模为近五年最小，市场热度明显回落。头部酒企积极推进精益化运营，以消费者为中心深耕市场建设。当前白酒行业已进入深度调整阶段，市场悲观情绪与悲观预期已得到较大程度消化。该机构认为，随着消费环境改善或迎来拐点，消费根基扎实的高端酒企有望率先引领板块复苏。目前行业处于周期底部，配置性价比逐步凸显，建议逢低增配白酒板块。
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