Financial OutlookManagement anticipates approximately RMB4bn in intangible asset depreciation expenses over the next five years, potentially affecting financial results.
Financial PerformanceNet profit growth fell short of estimates due to weaker gross profit margins and increased intangible asset depreciation expenses.
Market CompetitionIncreased competition in the Apple supply chain, combined with weak consumer sentiment for Android smartphones and regulatory uncertainty in the e-cigarette market, poses challenges.