研報掘金丨國信證券:山西汾酒老白汾煥新上市,維持“優於大市”評級
國信證券研報指出,山西汾酒(600809.SH)新版老白汾全面升級,青花20導入五碼系統山西汾酒昆明經銷商大會上,青花20、老白汾酒10全新升級面市,老白汾酒全系列開票價每瓶上升5元,全面導入五碼關聯繫統。隨着青花20 五碼體系在陝西市場的試運營,我們預計公司或在2024Q3 全面上新掃碼系統,實現廠家的“控盤分利”。後續,公司在渠道短板不斷補齊後,預計將圍繞“文化重塑、組織重塑、競爭力重塑”三個層面積極提升市場營銷質量,在青花30·復興版的頂層設計和產品區隔等維度或者新的舉措。考慮到公司經營勢能延續,復興版培育有序推進,維持“優於大市”評級。
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