自由点舆情未消 百亚股份净利下滑

Core Insights - The negative public sentiment from the "3·15" incident continues to impact Baiya Co., with a reported revenue of 859 million yuan for Q3 2025, reflecting an 8.33% year-on-year increase, while net profit decreased by 3.89% to 56.53 million yuan [1] - Baiya Co. attributes the decline in net profit to public sentiment and adjustments in platform strategies, particularly affecting e-commerce channels [1] - The incident involved allegations of substandard products being sold under Baiya's brand "Ziyoudian," leading to a significant impact on sales and overall performance [1] Financial Performance - For the first half of 2025, Baiya Co. reported a revenue of 1.764 billion yuan, a 15.1% increase year-on-year, with the "Ziyoudian" brand contributing 1.687 billion yuan, marking a 20.5% increase and accounting for 95.7% of total revenue [1] - In contrast, the net profit growth for the first half of 2025 was only 4.64%, significantly lower than the 36.41% growth in the same period of 2024 [1] Market Strategy - Baiya Co. has been expanding its market presence beyond the southwestern region, where it previously generated 67.82% of its sales, and is increasing marketing investments to enhance brand visibility [2] - The company has reported a 15.7% increase in sales expenses for the first three quarters, totaling 1.006 billion yuan, which represents 38.35% of its revenue [2] - Baiya Co. is actively adjusting its strategies to improve e-commerce performance and has appointed a new brand ambassador to bolster its marketing efforts [2] Future Outlook - The company anticipates a return to normal growth rates in Q4 2025, as it is currently in a phase of optimization [3]