HK Stock Market Move | ZJLD (06979) fell more than 5% in the afternoon, the company's operations are expected to bottom out and rebound this year, institutions point to liquidity impact on the liquor sector.

ZJLD (06979) fell more than 5% in the afternoon, as of the time of publication, down 5.38% to HKD 7.56, with a turnover of HKD 291.408 million. On the news front, ZJLD's 2025 financial report shows that the company achieved operating income of 3.65 billion yuan for the year, a year-on-year decrease of 48.3%; profit also decreased from 1.324 billion yuan to 538 million yuan, a significant drop of 59.3%. CMSC pointed out that the continuous adjustment of the company's financial statements in 2025 will release pressure, and business operations are expected to bottom out and rebound in 2026. Guotai Haitong stated that the recent adjustment in the liquor sector has been significant, with liquidity impact being an important reason in addition to the industry's weak fundamentals. Similar to the situation in mid to late January 2026, since May, liquor sector stocks have generally fallen back, and some companies that have already entered an improvement channel in terms of performance have also not been able to avoid this round of adjustment, which is expected to be due to the hot industry attracting funds.