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Financial Association News, October 28th (Reporter Wang Ping'an Zeng Chuchu) Three years after going public, Qianweiyangchufang turned in its first negative growth financial report. The net income in the first three quarters decreased by over 10% year-on-year, with a significant widening of the net income decline in the third quarter. Since the beginning of this year, the company's performance has been continuously declining. To address operational pressures, Qianweiyangchufang had increased the development and promotion efforts of strategic single products in the first half of the year. However, by the third quarter, the company's revenue did not increase but instead decreased, and expenses also increased significantly.

Tonight, Qianweiyangchufang released an announcement. In the first three quarters of this year, the company achieved revenue of 1.364 billion yuan, a year-on-year increase of 2.70%. The net income attributable to shareholders of the listed company was 81.5546 million yuan, a year-on-year decline of 13.49%. In the third quarter, the company achieved revenue of 0.472 billion yuan, down by 1.17% year-on-year, with a net income attributable to the parent company of 22.2266 million yuan, a year-on-year decline of 42.08%.

This is the first financial report showing negative growth in performance for Qianweiyangchufang since its listing in September 2021, and also the first time the company has experienced negative growth in quarterly revenue since going public.

In the first three quarters of this year, while revenue saw a slight decline, expenses increased significantly. Sales expenses, management expenses, and R&D expenses were 72.3612 million yuan, 0.127 billion yuan, and 16.4607 million yuan, respectively, showing increases of 18.83%, 16.50%, and 23.56% compared to the same period last year.

Qianweiyangchufang provided explanations for changes in 34 financial indicators such as financial expenses and monetary funds in the report. However, the company did not offer explanations for changes in key indicators such as revenue, net income, and sales expenses.

It is worth noting that to address rising operational pressures in the first half of the year, Qianweiyangchufang had proposed a 'major single product strategy.' In the interim report, Qianweiyangchufang stated that the company would continue to increase the development and promotion efforts of strategic products. For strategic products confirmed annually, various methods like template market construction, creating a promotional atmosphere, distribution enhancement, key customer development, tasting promotions, and conference marketing would be utilized to boost the promotion and sales of strategic products.