HK Stock Market Move | ZJLD (06979) rose more than 5% in intraday trading, as Maotai's first cancellation-style repurchase boosted the white liquor market sentiment.

ZJLD (06979) rose more than 5% during trading hours, rising 4.17% as of the time of writing, to 6.25 Hong Kong dollars, with a trading volume of 197.37 million Hong Kong dollars. On the news front, recently, Kweichow Moutai released a buyback cancellation plan for the first time, intending to repurchase company shares with 3 to 6 billion yuan of its own funds. Guosheng Securities believes that Moutai's first buyback in history has continued its strategic approach to strengthening market value management, which is conducive to strengthening development confidence, boosting market sentiment, and playing a positive leading and catalytic role in the liquor industry. In terms of fundamentals, overall sales during the Mid-Autumn Festival were weak, with continued price differentiation, focus on leading companies, and focus on major products. The improvement in fundamentals is still in progress, but a trend of leading companies winning has emerged. China Securities Co., Ltd. stated that as market expectations for the Mid-Autumn Festival and National Day further adjust, the stock prices of liquor companies continue to decline. However, in the long term, the operating capabilities of leading liquor companies continue to improve, with room for market share growth, and consumer upgrades are still evident in the mid-range price segment. The dividend yields of some companies have already reached 4% or even higher, showing value for allocation, waiting for the market to warm up.