ZJLD (06979) declined nearly 5% in afternoon trading. As of press time, the stock was down 4.65% to HK$8.62, with a trading volume of HK$93.0547 million.

Huachuang Securities noted that baijiu sales showed marginal acceleration around one week before the holidays, then gradually slowed down, with an overall expected decline of approximately 20%, which aligns with pre-holiday expectations. Considering factors such as subsequent task volumes, year-end off-season capital pressures, and Double Eleven e-commerce subsidies, the firm expects price and volume pressures to continue in October and November.

Guotai Haitong indicated that the sector's third-quarter 2025 earnings reports may require further adjustments.

Notably, ZJLD's latest super single product "Da Zhen" was officially launched. During the launch event, ZJLD Group Chairman Wu Xiangdong revealed that Da Zhen has achieved cash receipts of 370 million yuan, with over 2,800 alliance partners signed nationwide.

Huaxin Securities previously pointed out that the company launched its new flagship product "Da Zhen" in the first half of the year, positioned to coordinate with the Zhen 15 and Zhen 30 series. The high quality-to-price ratio is expected to establish ZJLD's third growth curve.