Core Viewpoint - The company, Haitian Flavor Industry, has set higher growth expectations for the future by revising its employee stock ownership plan's performance assessment indicators, aiming for a compound annual growth rate of no less than 11% from 2024 to 2026 [1] Group 1: Performance and Financials - The company revised its profit target, now expecting a net profit of approximately 7.82 billion yuan by 2026, up from the previous target of a 10.8% increase from 2024 [1] - In the first half of the year, the company achieved revenue of 15.23 billion yuan, a year-on-year increase of 7.6%, and a net profit of 3.91 billion yuan, up 13.3%, both reaching historical highs for the same period [1] - The main product, soy sauce, generated revenue of 7.93 billion yuan, a year-on-year increase of 9.14%, returning to pre-"double standard" incident levels [2] - The gross profit margin improved by nearly 3 percentage points to 40.12%, while the net profit margin rose to 25.75% due to a decline in raw material prices [2] Group 2: Strategic Initiatives - The company is focusing on international expansion, aiming for overseas revenue to account for 15% of total revenue within three years, with plans to invest at least 1.85 billion HKD in Southeast Asia and Europe [3] - The company has announced its first interim dividend since listing, distributing 2.6 yuan per 10 shares, totaling 1.52 billion yuan, to enhance market investment confidence [3] Group 3: Market Conditions - The domestic condiment market faces growth constraints due to the diminishing demographic dividend and ongoing pressures in the restaurant industry [3] - The company continues to optimize and streamline its distribution channels, although the pace of changes has slowed in the second quarter compared to the first [2]