Core Viewpoint - Jiangshan Oupai has decided to suspend operations at its subsidiaries Henan Oupai and Chongqing Jiangshan Oupai due to insufficient orders and low capacity utilization, while transferring existing business and orders to its Zhejiang Jiangshan production base [1][2][3] Group 1: Company Operations - The decision to suspend operations at Henan Oupai and Chongqing Oupai is influenced by overall industry downturn and intensified market competition, leading to continuous losses [2] - Henan Oupai reported a net loss of 14.08 million yuan and Chongqing Oupai a net loss of 13.52 million yuan in the first three quarters of this year [2] - Jiangshan Oupai's management aims to reduce operational costs and optimize resource allocation through this suspension [2][3] Group 2: Financial Performance - Jiangshan Oupai's revenue for the first three quarters was 1.284 billion yuan, a year-on-year decrease of 43.11%, with a net loss of 41.49 million yuan [4] - The decline in net profit is attributed to overall market downturn, shrinking demand, and increased competition leading to lower gross margins [4] Group 3: Strategic Transition - The company is transitioning from a heavy asset investment model to a light asset operation model, focusing on brand, product, channel, and pricing reforms [5] - Initial results of this transition include a 50% reduction in personnel, decreasing expenses, and growth in franchise services and foreign trade [5] - The company is expanding its product offerings from single wood door products to integrated solutions, and shifting sales channels from domestic to international markets [5]