What is the current situation of Hong Yongchang?

Hong Yongchang is currently in a difficult operating state. There are two reasons: First, under the competitive pressure of domestic chemical brands, Hong Yongchang gradually lost market share. Secondly, affected by the epidemic, demand decreased, and buyers' willingness to buy decreased, resulting in a decline in sales revenue and profits of the company. In order to cope with this unprecedented dilemma, Hong Yongchang Company has carried out a series of business adjustments and business optimization to improve the competitiveness of enterprises. For example, Hong Yongchang strengthened the control of product quality and improved the added value and market recognition of products. In addition, Hong Yongchang expanded new business channels from both sales and procurement, and strengthened marketing efforts. These measures will help Hongyongchang achieve business growth in the future. In a word, despite the difficulties, Hong Yongchang is still constantly trying to adjust and optimize his business, striving to break the dilemma and achieve sound development.