Group 1: Sales and Product Performance - The collaboration with Pang Donglai on the "Jiu Gui · Free Love" product has received widespread consumer recognition, with normal production and supply according to the cooperation plan [2] - The company has experienced a decline in sales for several consecutive years, attributed to a deep adjustment period in the liquor industry, weak consumption, and intensified competition [2] - The company is actively working on improving sales performance in the second half of the year [3] Group 2: Inventory and Market Strategy - The company is focused on inventory reduction as a key task, with ongoing efforts to enhance channel construction and terminal sales, resulting in a continuous decrease in terminal inventory [3] - Plans for the second half of the year include strengthening the "sweep" action to improve terminal activation success rates and expand market coverage [3] - The company aims to enhance its market share in Hunan province by focusing on core store construction and consumer activities [4] Group 3: Product Development and Market Positioning - The company is developing a product matrix of "2+2+2" to stabilize existing consumer groups while accelerating the development of innovative products to meet the needs of younger consumers [4] - The company is addressing the overall consumption downgrade by promoting the development of younger and fashionable products [4] - Future product launches will depend on market demand and the ongoing collaboration with Pang Donglai [4] Group 4: Financial Management and Investor Relations - The company is committed to improving its fundamental performance as a basis for sustainable growth in market value, alongside enhancing communication with the capital market [4] - The management is focused on balancing employee satisfaction and shareholder interests while improving management levels through collaboration with Pang Donglai [4]