Core Viewpoint - The recent financial report of Youkeshu Group reveals a mixed performance, with an 80% decline in revenue but a successful turnaround in net profit, highlighting ongoing challenges in the cross-border e-commerce sector and internal management issues [2][3][6]. Financial Performance - Youkeshu's revenue for the first half of 2025 was 42.57 million yuan, a decrease of 81.33% from 228.08 million yuan in the same period last year, representing a drop of 185.51 million yuan [6]. - The company achieved a net profit of 1.88 million yuan, recovering from a loss of 30.88 million yuan in the previous year, while the net profit excluding non-recurring items improved from a loss of 47.59 million yuan to a loss of 9 million yuan [6]. - Operating cash flow showed a net outflow of 8.33 million yuan, but this was an improvement of 80.7% year-on-year [6]. Company Background - Established in 2010, Youkeshu was a pioneer in China's cross-border e-commerce, focusing on electronics, outdoor gear, and home goods, and experienced explosive growth from 2015 to 2019 [3]. - At its peak, Youkeshu's annual sales exceeded 5 billion yuan, operating in over 200 countries with more than 3,000 employees [3]. Challenges Faced - The company faced significant setbacks in 2021 due to a wave of account suspensions on Amazon, leading to the freezing of hundreds of stores and over 100 million yuan in funds, which severely impacted operations [6]. - The ongoing internal power struggle within the company has raised concerns about its future direction and management effectiveness [8]. Internal Management Issues - The sixth board meeting of Youkeshu in August 2025 was rejected with 4 votes against and 3 in favor, highlighting ongoing disputes over control and governance [8]. - The main shareholder, Wang Wei, and the current board members have been involved in a protracted conflict, with legal actions and regulatory scrutiny complicating the situation [8].