Zheng Quan Zhi Xing·2025-04-30 00:10Group 1: Dekoli - Dekoli's Q1 2025 operating performance shows structural adjustments, with a slight revenue increase of 6% year-on-year, but a significant decline in profit margins due to high-margin business price adjustments, soaring DCI business costs, and product structure changes [1] - The 800G DCI product has entered the customer customization development stage, expected to be launched within the year, with no current plans to expand to L-band [1] - Capacity bottlenecks are anticipated to gradually ease in Q3-Q4, despite challenges in overseas base construction and domestic new production line certification [1] Group 2: Proya - In 2024, Proya is set to become the first beauty company in China to exceed 10 billion in revenue, aiming to enter the top ten global cosmetics industry within the next decade with its "Double Ten Strategy" [2] - The main brand Proya still has room for market share growth in China, focusing on developing series such as Source Power, Energy, Whitening, and Base Makeup [2] - The company plans to enhance its product matrix through online channels and explore new formats in offline channels, while also targeting the Southeast Asian market for product development and local partnerships [2] Group 3: Xiangpiaopiao - Xiangpiaopiao's milk tea business faces pressure in Q4 2024 and Q1 2025 due to external environment, internal strategy adjustments, and a long-termism approach [3] - The new product "Original Leaf Fresh Brew" has received positive feedback during trial sales, and the brand has gained significant visibility [3] - The company is focusing on optimizing product positioning for its "Lan Fang Yuan" frozen lemon tea and expanding its snack retail channels with customized products [3]