Ge Long Hui A P P·2025-09-15 06:52Core Viewpoint - Tianfeng Securities report indicates that Jinshiyuan's H1 2025 achieved revenue and net profit attributable to shareholders of 6.95 billion and 2.23 billion respectively, showing a year-on-year decline of 4.8% and 9.5% [1] - In Q2 2025, the company reported revenue and net profit attributable to shareholders of 1.85 billion and 0.59 billion respectively, reflecting a year-on-year decrease of 29.7% and 37.1% [1] Revenue and Profit Performance - Jinshiyuan's revenue and net profit for H1 2025 were 6.95 billion and 2.23 billion, down 4.8% and 9.5% year-on-year [1] - For Q2 2025, the figures were 1.85 billion and 0.59 billion, representing a significant decline of 29.7% and 37.1% year-on-year [1] Product Strategy and Market Position - The company has established a competitive advantage in products such as Si K4 and D K4, with significant growth potential in most provincial markets [1] - Future focus will be on higher-priced V3 products, with ongoing efforts to expand dealer networks [1] Market Opportunities - The company aims to capture structural opportunities in the 400-500 yuan price range in East and North China, addressing both the upgrade demand from the 300 yuan segment and attracting rational consumption from the 600-700 yuan segment [1] Operational Strategy - In response to a challenging environment, the company has proactively adjusted its pace and is expected to continue this strategy into Q3 [1] - Despite the pressures, the company maintains strong channel and market momentum, indicating a clear buildup for future performance [1]