# earnings decline

Yingjia Gongjiu Replaces General Manager Amid Sharply Falling Profits — Internal Promotion Signals Focus on Sales and Stability

Yingjia Gongjiu’s general manager Qin Hai resigned early and was replaced by long‑time sales executive Yang Zhaobing. The move comes as the company reports significant year‑on‑year declines in revenue, profit and operating cash flow for the first three quarters of 2025, reflecting softer consumer demand in China’s baijiu market.