Core Viewpoint - The stock of Zhenjiu Lidu (06979) has experienced a decline of nearly 5%, currently trading at 8.62 HKD, with a transaction volume of 93.05 million HKD, indicating market concerns regarding the liquor industry performance and company-specific developments [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 task volumes, year-end off-season financial pressures, and e-commerce subsidies during the Double Eleven shopping festival are anticipated to exert downward pressure on prices from October to November [1] - Guotai Junan predicts that the sector's financial reports may undergo further adjustments by the third quarter of 2025 [1] Company Summary - Zhenjiu Lidu has launched its new flagship product "Dazhen," which has reportedly achieved a revenue of 370 million CNY, with over 2,800 national alliance merchants signed [1] - Huaxin Securities previously noted 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]