[ByteDance Executive Responds to 'Net Profit Declining Over 70%': Operational Performance Not That Bad] According to a report by Jinse Finance, on April 20, Li Liang, Vice President of Douyin Group, responded on Weibo to the circulating news that 'ByteDance's net profit in 2025 will decline by 70%.' He stated that this figure is calculated based on international accounting standards and includes factors such as increased investment in emerging businesses, as well as changes in preferred stock and option costs, which 'do not reflect the essence of operations.' His explanation is as follows: Due to the slowdown in Douyin e-commerce growth and increased investment in new businesses, ByteDance's operating profit margin in the second half of the year has only slightly declined, far less than what media reports suggest. If changes in preferred stock and option costs are excluded, overall revenue and profit are still growing, and the development trends of TikTok's e-commerce business and emerging businesses remain positive.