HK Stock Market Move | ZJLD (06979) fell more than 4% to hit a new low. Overall sales of Mid-Autumn Festival white spirits are weak. Institutions say there is pressure on sales in various regions.

ZJLD (06979) fell more than 4%, hitting a low of 5.68 Hong Kong dollars during trading, setting a new low for the listing. As of the time of writing, it is down 4.01% to 5.75 Hong Kong dollars, with a trading volume of 19.9462 million Hong Kong dollars. On the news front, overall sales of Baijiu during the Mid-Autumn Festival this year have been weak. According to industry norms, sales of Baijiu during the Mid-Autumn and National Day holidays typically account for 20% to 30% of a distillery's annual sales. However, several liquor merchants have recently reported that sales of Baijiu during the Mid-Autumn Festival this year have not met expectations. An official from the Sichuan Liquor Distribution Association revealed that sales during this Mid-Autumn Festival are expected to decrease by 20% to 30% compared to last year. Data from Guotai Junan Securities shows that Baijiu industry sales in August and September have slightly improved compared to the previous month, but overall demand in most regions has still declined year-on-year, with price pressure greater than sales pressure. Guosen also stated that as the Mid-Autumn Festival approaches, channel stocking enthusiasm is low and the consumer atmosphere is weaker than last year, with consumers being more rational. In terms of price range, mid-range Baijiu is selling better than mid to high-end Baijiu. In terms of regions, sales pressure is evident everywhere.