Core Viewpoint - The company reported a mixed performance in its semi-annual report, with revenue growth driven by domestic market demand and strategic initiatives, while facing challenges in profitability [1][3]. Group 1: Financial Performance - In Q2 2025, the company achieved revenue of 600 million, a year-on-year increase of 9%, but reported a net loss attributable to shareholders of 40 million [1]. - For the first half of 2025, the company recorded revenue of 1.1 billion, a 5% year-on-year increase, with a net loss attributable to shareholders of 65 million [1]. - Revenue from plastic products in H1 2025 was 820 million, up 4% year-on-year, while the gross margin decreased by 7 percentage points to 14% [1]. Group 2: Market Dynamics - The growth in revenue is primarily driven by three factors: the enforcement of green packaging policies under the domestic "dual carbon" strategy, a strong recovery in the tea and fast-food sectors boosting demand for disposable tableware, and increased orders from partnerships with leading domestic food and beverage companies [1]. - The tightening of domestic environmental policies is accelerating the replacement of traditional plastics with biodegradable products, creating significant market expansion opportunities for the company [1]. Group 3: Strategic Initiatives - The company is increasing its investment in the domestic market, leveraging its strong production and operational capabilities to prioritize large clients and enhance brand recognition [1]. - On the international front, the company is implementing a global capacity network and a multinational layout strategy focused on "Asian R&D, global manufacturing, and localized services" to expand its business segments and extend its industry chain [1][2]. - This strategy aims to enhance the company's ability to respond to macroeconomic fluctuations, policy adjustments, and changes in international trade dynamics, thereby improving its competitiveness and market share [1]. Group 4: Future Outlook - Based on the performance in H1 2025, the company has adjusted its revenue forecasts for 2025-2027 to 2.6 billion, 2.9 billion, and 3.3 billion respectively, with net profits projected at 40 million, 60 million, and 100 million [3]. - The revised earnings forecasts reflect the impact of changing foreign trade environments and the company's ongoing investment projects on profitability [3].