Core Viewpoint - The company has successfully entered the Sam's Club retail channel with customized products, enhancing brand image and product value, although growth in this new channel will take time to materialize [1] Group 1: New Retail Channel Development - The company has launched customized products in collaboration with Sam's Club, which helps to avoid direct price competition and improve brand image [1] - Future collaborations will focus on developing more customized, high-quality product lines and optimizing the supply chain to meet the efficient turnover demands of major retailers [1] Group 2: Future Development Plans - The company has outlined a core development plan for the next 2-3 years, focusing on four main areas: 1. Strengthening and optimizing the hot pot ingredient product line to enhance operational quality 2. Expanding deep processing of aquatic products to increase raw material value 3. Actively developing the snack food category with an emphasis on R&D and channel development 4. Exploring the baking food sector to identify new growth opportunities [1] - The realization of these development plans depends on positive progress in market and channel factors, which introduces uncertainty [1]

Group 1: New Retail Channel Development - The company has successfully entered the Sam's Club retail channel and launched customized products, enhancing brand image and product value [1] - The collaboration with new retail channels is based on a customized model, which helps avoid direct price competition and improve brand image [1] - Future plans include deepening cooperation with leading retailers and exploring more customized, high-quality product lines [1] Group 2: Market Recovery Expectations - The company observes a clear trend of consumers pursuing cost-effectiveness, with stable demand for low-priced products [2] - Overall market recovery is expected to be gradual, with the company closely monitoring changes in the dining and retail sectors to adapt product and channel strategies [2] Group 3: Core Development Plans for the Next 2-3 Years - The company’s development plans focus on four main areas: optimizing hot pot products, expanding deep processing of aquatic products, developing snack food categories, and exploring baking-related businesses [3] - The realization of these plans depends on positive progress in market and channel factors, which introduces uncertainty [3] Group 4: Cost Control and Financial Management - The increase in sales expense ratio is attributed to a contraction in revenue scale, leading to a higher expense proportion [4] - Future plans include enhancing detailed management and budget control of expenses, ensuring efficient allocation of marketing and channel investments [4] - The company aims to improve expense ratios as new channels and products gradually scale up, making cost control a continuous operational focus [4] Group 5: Product Development Challenges - The company is focusing on new product development in the hot pot category, emphasizing quality and optimizing existing products while developing exclusive new products based on channel needs [5] - Continued investment in research and development is prioritized to achieve breakthroughs in product formulation and technology, enhancing product competitiveness [5]