均瑶健康(605388.SH)：上半年净利润746.61万元，同比下降78.52%

Core Viewpoint - Junyao Health (605388.SH) reported a revenue of 766 million yuan for the first half of 2025, reflecting a year-on-year growth of 1.38%, but the net profit attributable to shareholders decreased by 78.52% to 7.47 million yuan, indicating significant challenges in the current market environment [1] Financial Performance - The company's revenue for the reporting period was 766 million yuan, which is a 1.38% increase compared to the previous year [1] - The net profit attributable to shareholders was 7.47 million yuan, showing a substantial decline of 78.52% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 1.66 million yuan, down 94.44% year-on-year [1] - Basic earnings per share were reported at 0.0124 yuan [1] Business Challenges - The decline in net profit is primarily attributed to a decrease in revenue from the traditional ambient yogurt business, which faced pressure from the consumer environment and a reduction in market share for dairy beverages [1] - Increased sales and marketing expenses compared to the previous year have further compressed profit margins, despite the rapid development of new product lines [1] - The company has significantly increased its investment in research and development, expanding its functional strain resource bank from over 6,000 strains to 50,000 strains [1] Future Outlook - The company successfully developed a low-temperature probiotic beverage, marking a breakthrough in its business [1] - Continued investment in research and development is planned to support the creation of new probiotic product lines [1]