Gelonghui, April 12 | Qingsong Co., Ltd. (300132.SZ) announced that due to macroeconomic and industry environment, orders for the company's cosmetics business have fallen short of expectations since 2021, and additional production capacity has not been released in the short term. As a result, the capacity utilization rate of the company's cosmetics ODM business is low, and demand for large-scale production expansion in the short term has slowed down. The board of directors fully discussed the 148-acre land project and believed that in the context of the cosmetics industry's lack of full recovery, terminating construction of the 148-acre land project and negotiating with government departments to recover land use rights for a fee would help the company reduce production and operation costs, reduce financial pressure, and reduce the company's loan scale and balance ratio, in line with the company's business goals of reducing costs and increasing efficiency and striving to improve production efficiency without significant improvement in the industry environment.