Core Viewpoint - The company reported its third-quarter financial results, highlighting significant changes in financial metrics due to increased investments in online sales and advertising, as well as the consolidation of new business operations. Financial Data Summary - The company confirmed that the quarterly report is accurate and complete, with no need for restatement of previous financial data [2] - Cash and cash equivalents decreased due to increased advertising expenses and cash purchases for raw materials [5] - Accounts receivable increased primarily due to the inclusion of new juice beverage business in the consolidated financials [5] - Inventory increased due to seasonal procurement in the malt business and the consolidation of new operations [5][6] - Fixed assets increased due to the consolidation of new entities and the completion of a new production line [6] - Short-term borrowings increased to support daily operational funding needs [8] - Revenue increased by 3,934 million yuan year-on-year, driven by online sales channel expansion and new acquisitions [12] Non-Recurring Items - The company reported no non-recurring gains or losses during the quarter [3][4] Shareholder Information - The company repurchased 3,764,300 shares, representing 2.03% of total shares, as part of a share buyback plan approved by the board [19][21] Other Important Matters - The company established a new subsidiary in Shenzhen and acquired a controlling stake in a juice company, enhancing its operational footprint [22][23]