Panda Dairy Corporation stated during the institution's research visit on October 29th that the sales revenue in the first three quarters of this year decreased year-on-year, making it difficult to reverse the decline in the fourth quarter. In the entire economic environment, consumer recovery is slow, but it is believed that next year will be better than this year. Efforts in the dining channel this year are on par with last year; There will be a decrease in the food industry channel this year due to the decrease in volume from large customers, and it is expected to add several new customers next year. With the economic recovery and lower raw material costs, profits this year will decrease compared to last year, but not significantly for the whole year. In the future, the company will bring incremental growth in the new business of cream cheese.