Core Viewpoint - The stock of Zhenjiu Lidu (06979) has seen a decline of nearly 5%, currently trading at 8.62 HKD, with a trading volume of 93.05 million HKD. The overall market sentiment reflects concerns about the liquor industry's performance during the upcoming holiday season and potential price pressures in the near term [1]. Industry Summary - The liquor sales have shown a marginal acceleration about a week before the holiday, but are expected to decline by approximately 20%, aligning with pre-holiday expectations [1]. - Factors such as upcoming sales tasks, year-end seasonal cash flow pressures, and e-commerce subsidies during the Double Eleven shopping festival are anticipated to exert downward pressure on prices from October to November [1]. - According to Guotai Junan, further adjustments to the sector's financial reports are expected by the third quarter of 2025 [1]. Company Summary - Zhenjiu Lidu has recently launched its new flagship product "Dazhen," which has already generated a revenue of 370 million CNY and has signed over 2,800 alliance merchants nationwide [1]. - Huaxin Securities previously indicated that the introduction of "Dazhen" is positioned to complement the Zhen 15 and Zhen 30 series, with a high quality-to-price ratio expected to create a third growth curve for Zhenjiu [1].