【券商聚焦】海通国际：中国必选消费行业短期承压长期看好乳业复苏

金吾财讯01-06

（原标题：【券商聚焦】海通国际：中国必选消费行业短期承压长期看好乳业复苏）金吾财讯|海通国际发布研报指，中国必选消费行业12月呈现分化态势，调味品、速冻食品等4个子行业保持正增长，而白酒、乳制品等4个子行业负增长。短期来看，元旦期间市场风险偏好回升带动板块上涨，但整体缺乏基本面催化剂。长期看好乳业有望率先底部回升，迎来业绩和估值"戴维斯双击"。研报显示，12月次高端及以上白酒收入同比下滑17%...

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海通国际认为，2026年上半年多数行业基本面仍将延续调整趋势。建议关注两条主线：一是符合高风险偏好风格的标的，如泸州老窖(000568)、五粮液(000858)、燕京啤酒(000729)、东鹏饮料(605499)；二是符合基本面和股息率改善逻辑的个股，如伊利股份(600887)、蒙牛乳业(02319.HK)、康师傅(00322.HK)、安井食品(603345)、青岛啤酒(00168.HK)。报告给予上述个股\"优于大市\"评级。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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【券商聚焦】海通国际：中国必选消费行业短期承压 长期看好乳业复苏

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【券商聚焦】海通国际：中国必选消费行业短期承压长期看好乳业复苏