Core Viewpoint - The financial performance of Kosi Co., Ltd. (科思股份) has significantly declined in the first three quarters of 2025, with substantial decreases in revenue and net profit compared to the previous year [1][2][3]. Financial Performance Summary - For the first three quarters of 2025, the company reported a revenue of 1.116 billion yuan, a year-on-year decrease of 39.93% [1]. - The net profit attributable to shareholders was 77.93 million yuan, down 84.84% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 63.45 million yuan, reflecting an 86.75% decline [1]. - The net cash flow from operating activities was 165 million yuan, a decrease of 78.58% compared to the previous year [1]. Yearly Comparison - In 2024, the total revenue was 2.276 billion yuan, down 5.16% from 2023 [3]. - The net profit attributable to shareholders for 2024 was 562 million yuan, a decrease of 23.33% year-on-year [3]. - The net profit after deducting non-recurring gains and losses for 2024 was 530 million yuan, down 25.89% from the previous year [3]. - The net cash flow from operating activities for 2024 was 823 million yuan, showing a growth of 3.08% compared to 2023 [3]. Fundraising and Financial Structure - Kosi Co., Ltd. raised a total of 862 million yuan from its initial public offering, with a net amount of 785 million yuan after expenses [4]. - The funds were allocated for various projects, including 430 million yuan for a high-end daily-use fragrance raw materials project and 200 million yuan for repaying bank loans [4]. - The company also issued convertible bonds in 2023, raising approximately 724 million yuan, netting around 719 million yuan after fees [4].