YYTM(SH:600655) Quan Jing Wang·2025-10-31 15:21Core Viewpoint - The company is currently undergoing a strategic transformation, focusing on asset liquidation in real estate projects while emphasizing a leaner operational model to enhance long-term value in its core consumer segments, particularly in gold and jewelry business [1] Group 1: Strategic Transformation - The company is in a strategic transformation phase, implementing the top strategy of "leaning down and lightening up" while accelerating the liquidation of real estate projects to recover funds [1] - The gold and jewelry segment is actively transforming through new product matrices, refined operations, increased proportion of piece-rate products, and cost reduction in the supply chain [1] Group 2: Financial Performance - The revenue decline in the jewelry business has narrowed year-on-year, with gross margins showing continuous improvement both year-on-year and quarter-on-quarter, reflecting the effectiveness of refined operational management [1] Group 3: Business Philosophy and Global Strategy - The company adheres to the top concept of "Oriental Lifestyle Aesthetics," driving dual engines of industrial operation and investment, with a portfolio of 19 time-honored Chinese brands and several leading global brands [1] - In the context of the new domestic and international dual circulation pattern, the company is accelerating its global layout to promote the aesthetics of Eastern life and aims to become a leading family happiness consumption industry group globally [1]