Financial Data and Key Metrics Changes - Total revenue decreased to RMB 158.3 million from RMB 233.8 million year-over-year, reflecting a decline due to softer consumer confidence [13] - Revenue from merchandise sales was RMB 131.7 million, while marketplace business revenue was RMB 24.5 million, impacted by ongoing product selection optimization [14] - Gross margin remained solid at 47.3%, supported by customer loyalty and effective product curation [14] - Operating expenses increased to RMB 179.4 million from RMB 149.1 million year-over-year, with a significant rise in general and administrative expenses due to higher credit loss allowances [16] - Net loss was RMB 100.7 million compared to a net loss of RMB 8 million a year ago, indicating a substantial increase in losses [17] Business Line Data and Key Metrics Changes - The flagship product Youjiang Organic achieved RMB 5 million in sales at launch, contributing to brand awareness in the health sector [5] - Blinds Lemon Coffee sales exceeded RMB 10 million, while Probind Audis bolus reached nearly RMB 7 million [6] - The SUYEA PRO Xilin Firming series generated over RMB 10 million in sales, indicating strong market reception [7] - The Jianxin Tea Therapy business reached a 50% participation rate among frequent users, showcasing customer loyalty [9] Market Data and Key Metrics Changes - The company is expanding public domain channels and enhancing WeChat transaction volumes, which currently exceed 92.5% of peers [8] - Community group leaders are increasingly focusing on private domain e-commerce, indicating a shift in retail dynamics [11] Company Strategy and Development Direction - The company remains committed to its organic health strategy, viewing it as a long-term opportunity despite current market challenges [5] - Plans to expand brand influence through integrated organic health concepts and optimize product mix are in place [6] - Future focus will be on expanding community group leader channels and placing organic foods in their stores to enhance accessibility [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged market uncertainties but emphasized the importance of maintaining financial discipline and optimizing cost structures [13][19] - The company aims to achieve breakeven and strengthen its financial position while preparing for future growth opportunities [19] Other Important Information - The company has a cash position of RMB 217.1 million, providing adequate coverage for obligations [17] - The focus on loss integration and efficient asset utilization is crucial for future improvements [19] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of interaction during the Q&A segment [21]