Core Viewpoint - Aoyou Dairy's half-year performance shows steady growth in revenue and profit, driven by strategic control measures and a dual-channel marketing approach [1][2][3] Financial Performance - Aoyou achieved revenue of approximately 3.887 billion yuan, a year-on-year increase of 5.6% - EBITDA reached about 398 million yuan, up 29.7% year-on-year - Net profit attributable to equity holders was approximately 181 million yuan, reflecting a 24.1% increase year-on-year [1] International Market Expansion - Aoyou's international business, particularly the goat milk powder brand Kabrita, saw a revenue increase of 65.7% to about 483 million yuan - The Middle East remains the largest overseas market, with a revenue growth of 54.2% - North America experienced a significant revenue increase of 138.7%, becoming the second-largest revenue source for Aoyou [2] Nutritional Products Growth - The nutritional products segment grew by 7.0% year-on-year, with successful expansion into overseas markets - The subsidiary Jinqi Biotechnology improved its probiotic fermentation process and achieved significant channel breakthroughs [3] Operational Efficiency - Aoyou launched an internal code system to reduce traditional promotional expenses and enhance digital marketing efficiency - The company improved global supply chain efficiency, resulting in a 20-day reduction in inventory turnover days - The self-owned brand milk powder business generated approximately 2.826 billion yuan in revenue, with goat milk powder market share increasing by 2.8 percentage points to 30.4% [4] Strategic Acquisitions - Aoyou plans to complete the acquisition of the remaining 50% stake in the Dutch goat cheese company Amalthea Group B.V. by October 2024, enhancing its supply chain advantage and expanding its product line [5] Future Outlook - Aoyou's strategy aligns with market demands, focusing on dual domestic and international development to achieve stable growth - The company is expected to enhance its sustainable development capabilities through brand effects, scale advantages, and a global supply chain [6]