JONJEE(SH:600872) Xin Lang Cai Jing·2025-10-24 21:09Core Viewpoint - The financial report for the third quarter of 2025 from Zhongju Gaoxin indicates a decline in both revenue and net profit compared to the previous year, attributed to intensified competition in the condiment industry since 2024 [1] Financial Performance - For the first three quarters of 2025, the company achieved total operating revenue of 3.156 billion yuan and a net profit attributable to the parent company of 380 million yuan, both showing a decrease from the same period last year [1] - The gross profit margin for the main product "Meiwei Xian" reached 39.70% in the first three quarters of 2025, an increase of 2.26 percentage points year-on-year, with the third quarter gross margin further rising to 40.31% [1] Strategic Adjustments - The company is implementing a strategy of "retreating to advance," focusing on optimizing channel inventory and stabilizing prices while ensuring steady terminal sales [1] - The strategic adjustments have led to positive outcomes, with channel inventory returning to a healthy level and the price inversion situation in major sales areas being largely corrected [1] Market and Product Development - The company is pursuing a national layout through "graded management of distributors" and "county-level channel penetration," aiming for balanced development across regional markets and reducing reliance on any single area [1] - In response to new consumer trends, the company continues to upgrade product quality, launching new products such as a 30% reduced-salt soy sauce and zero-additive first-press oyster sauce, aligning with consumer demand for health and high-quality condiments [1]