老白干酒(600559)冀酒龙头改革释能，武陵复兴正当时

华泰证券07-22

冀酒龙头底蕴深厚，内修外延改革释能老白干酒是河北省白酒龙头，素有“河北王”称号，面临12-15年行业调整及全国名酒抢夺省内份额的发展困局，公司通过：1)品牌聚焦以重点突破；2)把握核心终端以深化省内渗透；3)外延并购以加速省外扩张；三架马车齐驱突围成功，实现“河北王”强势回归。当前行业再次步入稳步复苏阶段，公司再迎来主品牌本土市占率提升与武陵名酒省内外加速渗透的关键节点。我们看好主品牌顺利承接...

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