On July 16, 2024, Xiamen Yanziya Bird's Nest Industry Co., Ltd. issued a profit warning, announcing the financial status for the six months ended on June 30, 2024. The company expects revenue for this period to reach approximately RMB 1,045 million to RMB 1,090 million, an increase of about 10% to 15% year-on-year. However, net profit is expected to decrease by about 40% to 50%, or about RMB 50.0 million to RMB 60.0 million. The company stated that the revenue growth was due to the strong growth of online sales, while the decrease in net profit was mainly due to the increase in brand spokesperson promotion expenses in the first half of the year, the increase in production costs due to the relocation and commissioning of the new factory...Show More

On July 16, 2024, Xiamen Yanziya Bird's Nest Industry Co., Ltd. issued a profit warning, announcing the financial status for the six months ended on June 30, 2024. The company expects revenue for this period to reach approximately RMB 1,045 million to RMB 1,090 million, an increase of about 10% to 15% year-on-year. However, net profit is expected to decrease by about 40% to 50%, or about RMB 50.0 million to RMB 60.0 million. The company stated that the revenue growth was due to the strong growth of online sales, while the decrease in net profit was mainly due to the increase in brand spokesperson promotion expenses in the first half of the year, the increase in production costs due to the relocation and commissioning of the new factory, and the conservative consumption trend of offline customers. The company's management expressed confidence in maintaining its market leading position for the whole year and will promote sales and cost control measures. The board of directors reminds shareholders and potential investors that the above financial data is a preliminary evaluation, and the final performance will be disclosed in the mid-term performance announcement in August 2024.