Recently, QINQIN FOODS published its semi-annual report for 2025, revealing a decline in both revenue and profit for the first half of this year, failing to sustain the growth momentum seen in the previous year. In contrast, amidst the growth in profits last year, the salary of CFO Huang Weiliang increased. In 2024, Huang's salary was CNY 2.213 million, up from CNY 2.190 million in 2023, marking an increase of CNY 23,000, making him the highest-paid director in the company, even surpassing CEO Wu Wenxu's salary of CNY 947,000, which is CNY 1.266 million lower than Huang's.

Public records indicate that Huang, born in 1978, graduated from the Hong Kong University of Science and Technology in 2000 with a Bachelor's degree in Accounting and Business Administration. He began his career in audit certification at Ernst & Young and joined QINQIN FOODS in 2016, serving as an executive director, CFO, and company secretary, overseeing corporate development, investment, accounting, finance, and corporate governance, while also holding independent non-executive director positions at several companies.

According to QINQIN FOODS' 2025 mid-year performance report, the company's revenue in the first half of this year was CNY 530 million, a year-on-year decline of 6.0%, with profit attributable to shareholders decreasing by 34.31% to CNY 21.55 million, representing a double drop in revenue and profit, failing to maintain last year's growth trend. The company's gross profit also fell by 10.2% to CNY 154 million, resulting in a gross margin of 29.11%, indicating pressure on profitability.

In terms of product lines, only the candy and other products out of the four major product categories reported positive year-on-year growth, while the other three categories declined. Specifically, jelly products achieved sales of CNY 316 million in the first half of the year, down 6.6% year-on-year, accounting for 59.7% of total revenue, while puffed products saw a year-on-year decrease of 2.9% to CNY 149 million, although their revenue share increased to 28.1%. It remains to be seen whether QINQIN FOODS can achieve positive growth in the second half of this year, and we will continue to monitor developments.