Core Viewpoint - The liquor industry is undergoing a significant adjustment, with rumors suggesting that Kweichow Moutai may lower its annual performance targets, although the company has denied this claim [1] Company Summary - Zhenjiu Lidu's stock fell over 4% in the afternoon, currently trading at HKD 8.83 with a transaction volume of HKD 120 million [1] - The company recently launched its new flagship product "Dazhen," which has already generated a revenue of CNY 370 million and signed over 2,800 alliance merchants nationwide [1] - Pacific Securities reported that the overall terminal sales in the industry have shown some recovery since August, but sales during the Mid-Autumn Festival and National Day are still expected to be under pressure compared to last year [1] Industry Summary - The liquor industry is experiencing a deep adjustment, with Kweichow Moutai's performance targets being a focal point of concern among investors [1] - The market has seen a recovery in terminal sales since August, but challenges remain for the upcoming holiday sales [1] - The introduction of high-quality products like "Dazhen" is seen as a potential driver for growth in the liquor sector, particularly for Zhenjiu Lidu [1]