HK Stock Market Move | ZJLD (06979) rises over 4%, Zhenjiu's double-festival sales momentum shines, Lidou continues its expansion momentum.

ZJLD (06979) rose over 4%, up 4.11% as of press time, at HK$8.24, with a turnover of HK$21.2378 million. On the news front, according to recent exchanges with CICC, demand in the baijiu industry was generally weak during this year's Mid-Autumn Festival and National Day holiday, while Zhenjiu delivered standout performance against the trend. The bank expects sell-through to have grown over 15% year-on-year, mainly due to the continued realization of the advantages of the Dazhen model and the initial results of the "Yueyuehong" model introduced by Zhenshiwu in the first half of the year; in addition, Zhenjiu's channel inventory has been significantly destocked over the past year, and merchants' enthusiasm for restocking has improved somewhat. The bank expects factory shipments to be better than sell-through. Lidou continued the rapid expansion momentum from the first half of the year, and the bank expects sell-through during the double festival to have grown more than 30% year-on-year, mainly contributed by the sub-high-end priced Lidou Gaoliang 1975 and the RMB 200 price-point mass-series products.