Core Viewpoint - The negative public sentiment from the "3·15" incident continues to impact Baiya Co., with a decline in net profit despite a slight increase in revenue in Q3 2025 [2] Financial Performance - In Q3 2025, Baiya Co. reported revenue of 859 million yuan, an increase of 8.33% year-on-year, while net profit decreased by 3.89% to 56.53 million yuan [2] - For the first half of 2025, Baiya Co. achieved revenue of 1.764 billion yuan, a year-on-year growth of 15.1%, with the "Ziyoudian" brand contributing 1.687 billion yuan, a 20.5% increase, accounting for 95.7% of total revenue [2] Market Strategy and Brand Development - Baiya Co. has been expanding its market presence beyond the Southwest region, where it previously generated 67.82% of its sales, and has increased marketing investments to promote the "Ziyoudian" brand [3] - The company has actively taken measures to improve e-commerce performance and has increased sales expenses to 1.006 billion yuan in the first three quarters, a 15.7% increase year-on-year [3] Crisis Management - The management acknowledged the impact of negative public sentiment on sales and stated that the company is in a phase of adjustment, expecting to return to normal growth rates in Q4 [4]