JIANMIN GROUP(SH:600976)2024-12-02 10:17Financial Performance - The company reported a revenue of 2.881 billion CNY for the first three quarters of 2024, a decrease of 7.58% year-on-year [1] - The net profit attributable to shareholders was 322 million CNY, down 22.53% compared to the previous year [1] - The decline in net profit was primarily due to non-recurring gains from the previous year and increased procurement costs from rising prices of traditional Chinese medicine materials [1] Product Inventory and Sales - The inventory of the main product, Longmu Zhuanggu Granules, has reached a reasonable level, with sales declining due to a shift in the marketing assessment model and overall market pressure [2] - The sales of Bian Tong Capsules have remained stable in hospitals, while OTC channel sales are growing, although increased advertising costs have not yet been fully covered by sales profits [2] Advertising and Brand Strategy - The company has focused its advertising on Longmu Zhuanggu Granules and Bian Tong Capsules, utilizing various media platforms to enhance brand visibility [2] - The company aims to strengthen brand leadership and continue investing in brand development to support product sales [2] Market Trends and Strategic Adjustments - Despite a decline in birth rates, the pediatric market is still growing, prompting the company to diversify its product offerings and invest in R&D for elderly and chronic disease medications [3] - The company is also developing a dual-brand strategy to enhance its market presence [3] Supply Chain Management - The company employs various procurement strategies to manage the price volatility of traditional Chinese medicine materials, ensuring stable and high-quality raw material supply [3] New Business Ventures - The company has opened three TCM clinics in Wuhan, indicating a positive development in its new TCM diagnosis and treatment business [4]