食品饮料行业研究：子板块景气趋势延续性强，业绩窗口期看好alpha标的兑现

国金证券2025-08-10

（以下内容从国金证券《食品饮料行业研究：子板块景气趋势延续性强，业绩窗口期看好alpha标的兑现》研报附件原文摘录）白酒：淡季白酒行业基本面边际变化有限，白酒板块情绪伴随顺周期热度有所回落。近几周飞天茅台批价窄幅震荡，目前原箱批价1920元左右、环比小幅回升。我们预计飞天茅台批价仍会阶段性平稳，淡季景气度回落对价盘的冲击趋缓，外部风险对白酒消费场景的影响环比有所改善。周内贵州茅台酒（五星商标上市...

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