In the first quarter, Yihai Kerry Arawana's revenue increased while net profit decreased significantly due to pressure on raw material costs and lower sales volumes in its main business due to scattered outbreaks of COVID-19. In an effort to tap into the mid-to-high-end market and find new areas for growth, the company is attempting to expand its seasoning business.

According to the latest quarterly report, despite a 10.68% year-over-year increase in revenue to CNY 56.536 billion, the company's net profit attributable to shareholders was only CNY 114 million, down 92.71% year-over-year and marking the fourth consecutive quarter of decline. This comes after a 31.2% year-over-year drop in net profit in the company's 2021 annual report. With such results, can the company still live up to its nickname of "Oil Maotai"?