ZJLD (06979) fell more than 5% in afternoon trading. As of the time of writing, the stock was down 5.38% to HKD 7.56, with a turnover of HKD 29.14 million. The company's 2025 financial report shows annual operating revenue of RMB 3.65 billion, a decrease of 48.3% year-on-year. Profit also declined significantly by 59.3%, from RMB 1.324 billion to RMB 538 million. Analysis indicates that the company's financial statements for 2025 continued to adjust and release pressure, with business operations expected to bottom out and recover in 2026. Recent adjustments in the baijiu sector have been substantial. Beyond weak industry fundamentals, liquidity shocks are also a significant contributing factor. Similar to the situation in late January 2026, baijiu sector stocks have generally retreated since May. Even companies whose performance had already entered an improvement channel were unable to avoid this round of adjustment, which is likely due to capital being diverted to more popular industry sectors.
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