ZJLD (06979) fell more than 6%, extending its decline. At the time of writing, the stock was down 4.62% to HK$8.87, with a trading volume of HK$36.53 million.
Recent reports indicate that the Dazhen project team has announced a temporary suspension of new partnerships in select regions of Henan, Guizhou, Hunan, Shandong, and Yunnan provinces to "ensure healthy market operations."
In response to inquiries, ZJLD stated that the dealer network for its Dazhen·Zhenjiu product has reached saturation in a small number of cities. To prevent intensified local channel competition and protect dealer interests, the company has decided to pause new partnerships in these limited areas while continuing nationwide expansion elsewhere.
According to a report from the China Alcoholic Drinks Association, the baijiu industry is currently undergoing an adjustment period. Facing multiple pressures, including high inventory and price inversions, wholesale prices remained weak in the first half of the year.
Meanwhile, during this year's "Double 11" shopping festival, Feitian Moutai's official price tag of 1,499 yuan gained widespread attention. However, market investigations revealed that actual retail prices remain around 2,000 yuan per bottle, indicating a divergence from the promoted price.
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