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Core Viewpoint - Yangyuan Beverage has increased its investment in the private equity fund Wuhu Wenming Qianhong Investment Management Partnership by 1 billion yuan, raising the total fund size from 3 billion yuan to 4 billion yuan, with Yangyuan's contribution increasing to 3.997 billion yuan, accounting for 99.925% of the fund [2][9]. Group 1: Investment Details - The private equity fund, established in May 2021, was co-founded by Yangyuan Beverage and Beijing Wenming Investment Fund Management Co., with an initial fundraising size of 3 billion yuan [8]. - The recent capital injection will be used for investments in other projects, not for additional investments in current projects [10]. - The fund's notable investment case is Longjiang Storage Holdings, where it invested 1.6 billion yuan for a 0.99% stake, with the company's valuation at approximately 161.6 billion yuan at the time [10]. Group 2: Financial Performance - Despite the increase in investment, Yangyuan Beverage's main business is facing growth challenges, with a 16.19% year-on-year decline in revenue to 2.465 billion yuan in the first half of 2025, and a 27.76% drop in net profit to 744 million yuan [16]. - The company's revenue has decreased significantly from a peak of 9.117 billion yuan in 2015, with 2024 revenue reported at 6.058 billion yuan, nearly one-third lower than the peak [16]. - The company heavily relies on its flagship product, walnut milk, which contributed 5.37 billion yuan in revenue, accounting for 89.20% of total revenue in 2024 [17]. Group 3: Cash Flow and Dividends - Despite the pressure on performance, Yangyuan Beverage has a strong cash flow, with net cash flow from operating activities surging 1358.23% to 377 million yuan in the first half of 2025, and cash reserves reaching 1.459 billion yuan, a 58.96% increase from the previous year [18]. - The company plans to distribute a cash dividend of 5.00 yuan per 10 shares, totaling 630 million yuan, which represents 84.7% of the net profit for the period [18].