Core Viewpoint - Zhongshun Jierou, once a leader in the industry, is currently facing dual challenges of declining performance and market position, with a significant drop in revenue and net profit in 2024 compared to previous years [1]. Financial Performance - In 2024, Zhongshun Jierou reported total revenue of 8.151 billion yuan, a year-on-year decrease of 16.84% [1]. - The net profit for the same year was 77.18 million yuan, reflecting a substantial year-on-year decline of 76.8% [1]. - The company's net profit has shown a continuous decline over the past four years, with decreases of 35.85%, 39.77%, and 4.92% from 2021 to 2023 [1]. Market Presence - In major supermarkets in Jinan, such as Yinzuo, Darunfa, and Hualian, Zhongshun Jierou's products have largely disappeared, with competitors like Vinda and Qingfeng taking prominent promotional positions [3]. - Internal sources from a large supermarket indicated that Zhongshun Jierou's products were not selling well, leading to their removal from shelves three years ago [3]. Sales Channels - Currently, Zhongshun Jierou's products are primarily available in small convenience stores and on e-commerce platforms, indicating a shift from larger supermarkets to lower-cost sales channels [6][14]. - This channel shift may reduce brand exposure and market share, further widening the gap with leading brands [14]. Diversification Efforts - The management of Zhongshun Jierou attributed the profit decline to significant fluctuations in raw material prices, which have severely compressed profit margins [14]. - The company has attempted diversification by launching new product lines, including personal care products and laundry capsules, but these efforts have not yielded significant results [14][19]. - The sales of new products like the Dolemi sanitary napkins and Yujirou hand cream have been disappointing, with very low sales figures compared to leading brands [15][19].