Core Viewpoint - ST Jiajia (002650), known as the "first stock of soy sauce," reported continued growth in its performance for Q3 2025, with a revenue of 276 million yuan, marking an 11.43% year-on-year increase, while reducing net losses significantly compared to the previous year [1] Group 1: Financial Performance - In Q3 2025, the company achieved a revenue of 276 million yuan, reflecting an 11.43% increase year-on-year [1] - For the first three quarters, the total revenue reached 1.009 billion yuan, remaining stable compared to the same period last year, with a net loss of 18.0368 million yuan, a significant reduction in losses by nearly 50 million yuan [1] Group 2: Strategic Initiatives - The improvement in ST Jiajia's performance is attributed to its commitment to product health and high-end transformation, aligning with China's "Healthy China 2030" strategy, which emphasizes the reduction of salt, oil, and sugar [1] - The company has been proactive in launching low-salt products, including low-salt soy sauce variants, since 2018, capitalizing on the strategic opportunity presented by the national nutrition plan [1] - ST Jiajia has developed a core technology for physical salt reduction, achieving over 35% salt reduction while maintaining essential nutritional components, supported by four national invention patents [1] Group 3: Market and Product Development - The company continues to innovate around its "low-salt strategy," introducing new products such as "low-salt pure brewed soy sauce" and "low-salt organic soy sauce" [2] - ST Jiajia is enhancing its market presence by promoting low-salt products, adjusting its product structure, and focusing on high-margin products while expanding into e-commerce and industrial catering channels [2] Group 4: Corporate Governance - Recent significant changes in the board of directors were made, with the election of two non-independent directors and one independent director, indicating a strategic shift in governance [3]