1. Fluctuation of interest-bearing liabilities: Yijing Dairy's debt structure contains a large number of loans with variable interest rates, so if the interest rate of interest-bearing liabilities rises, its debt cost will also increase.
2. Operating cash flow: Yijing Dairy may face problems such as insufficient operating cash flow, increased capital expenditure and insufficient debt repayment plan, resulting in its inability to pay high interest expenses.
3. Decline in profit rate: Yijing Dairy may encounter factors such as decline in sales volume or increase in product cost, resulting in a decline in gross profit margin, which in turn affects the net profit and interest guarantee multiple.