舍得酒业(600702)季报点评：保持稳健，蓄力长期

华泰证券04-26

24Q1略有承压，系次高端价位压力+短期库存去化为主，期待环比改善24Q1实现营收/归母净利21.1/5.5亿，同比+4.1%/-3.4%。24年春节，公司增强了渠道反向红包的激励，节前动销数据环比改善，渠道库存维持在可控范围内，公司短期经营重心以库存去化为主。展望来看，公司秉持长远眼光，坚守老酒战略不动摇；同时明确平台化布局，持续培育藏品10年、舍之道、T68等单品，加大消费者培育与宴席市场推广...

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