What festival is on the eighth day of the first lunar month? What activity does “New Year’s Eve” refer to?

What festival is on the eighth day of the first lunar month?

What kind of activities are referred to as “Annual Festival”?

——The New Year’s Festival is a traditional custom on the eighth day of the first lunar month: it is also a way to celebrate the New Year. The so-called New Year’s Festival, which means “tracing back to the past and following the present, with traditions every year”, refers to large-scale group sacrificial activities held regularly every year (mainly during the New Year period).
《2》 Annual rituals and customs are centered on worshipping gods, parading gods, setting up ancestral altars (also known as offering sacrifices), and sacrificial ceremonies, accompanied by various folk cultural performances and banquets for relatives and friends, and are collective sacrificial activities;
The main purpose of "3" is to thank the gods of heaven and earth for their kindness, to drive away evil spirits and epidemics, and to pray for good weather, prosperity of all industries, and peace and prosperity for the country and the people.
——The eighth day of the Lunar New Year: an auspicious day to start work. Distributing red envelopes is the first thing bosses in Guangdong do on the first day back at work after the Chinese New Year.
"Li shi" can also be written as "li shi" or "li shi". Distributing red envelopes means that you will be prosperous and successful throughout the year.
The term "li shi" has existed since ancient times. It was recorded as early as in the "Book of Changes", and it means small investment but great profits.
——The Yuan Dynasty's "Examination of Popular Proverbs" also mentioned the saying "In order to have a good omen, one should ask for a lucky money from the host." This shows that a lucky money also means good luck.