公司以沱牌特级T68为突破点，全面进攻大众酒市场，上半年，沱牌特级T68的动销、开瓶和上柜数据均获得高速增长，在基地市场、省外重点市场等地位列高线光瓶酒品类前三。半年报显示， 据悉，面对当前低度酒饮市场的高速增长，舍得酒业快速跟进，将于8月30日发布首款低酒度畅饮型老酒"舍得自在"。该款新品为29度舍得老酒，将完善并升级公司的产品结构布局，助力拓宽白 上证报中国证券网讯舍得酒业8月22日晚披露2025年半年度报告，公司上半年实现营业收入27.01亿元，归属于上市公司股东的净利润4.43亿元。其中，第二季度表现抢眼，实现营业收入11. 半年报显示，舍得酒业上半年业绩呈现修复态势。一季度，实现归母净利润3.46亿元，超过去年全年；二季度，实现归母净利润9717万元，同比大幅增长139.5%，净利润率同比提升近五个百 至报告期末，舍得酒业去库存已接近尾声，库存回归至理性水平，公司总资产较上年度末增长5.12%，经营活动产生的现金流量净额同比由负转正，财务状况改善明显。同时，管理费用同比下降 在稳存量的同时，今年上半年，舍得酒业执行"渠道向下，品牌向上，全面向C"策略，在增量市场取得突出成效。舍得酒业发力电商、直播等 ...

Summary of Jianbang Technology Conference Call Company Overview - **Company**: Jianbang Technology - **Period**: First half of 2025 Key Financial Performance - Revenue for H1 2025 reached **375 million** CNY, a year-on-year increase of **20.77%** [3] - Net profit attributable to shareholders was over **49 million** CNY, up **27.18%** year-on-year [3] - Non-automotive parts revenue reached **65 million** CNY, a **183%** increase, accounting for over **17%** of total revenue [2][6] Industry Context - The automotive parts industry is facing a **70%** tariff rate since May 2025, impacting overseas business operations [4] - The company experienced a temporary disruption in overseas business in April but recovered by mid-April [4] Production and Supply Chain Developments - The construction of the Thailand factory is progressing well, having received production licenses and commenced small-scale production [5] - The factory is expected to reach a stable operational state by **2026**, with a projected investment recovery in **3-5 years** [2][5] - Inventory increased to **180 million** CNY to meet e-commerce customer demands and prepare for the Thailand factory [10] Product Performance - Seasonal sales for home garden products are strong, but capacity constraints are causing delivery pressures [12] - The electronic and electrical product segment is growing rapidly, with transmission system revenue exceeding **100 million** CNY, half of which comes from four-wheel drive products [7] Cash Flow and Inventory Management - Cash flow net amount for H1 2025 was approximately **23 million** CNY [9] - The company has established safety stock for e-commerce clients, utilizing systems like SAP and WS for data analysis to manage inventory effectively [11] Market Expansion and Sales Channels - Sales have expanded to over **30 countries**, with significant growth in the European region [7] - E-commerce channel revenue grew **18.6%** to **170 million** CNY, with major clients maintaining a stable purchasing ratio [3][25] Future Outlook - Non-automotive parts sales are expected to reach around **100 million** CNY in 2025, with plans to increase this segment's revenue share to **30%** in the next **3-5 years** [12] - The Thailand factory's order backlog is primarily from the U.S., accounting for about **60-70%** of total orders [14] Challenges and Strategic Responses - The decline in revenue from braking and engine systems is attributed to order transfers to the Thailand subsidiary, which has not yet ramped up production [21] - The company is addressing production capacity issues through collaborative production and flexible work arrangements [12] Competitive Positioning - The smart RV towing robot targets North America and Oceania, with a competitive price point and expected gross margin of **35-40%** [18] - The company plans to increase the self-production ratio of automotive electronic products, currently at **30%**, to enhance overall gross margins [19] Conclusion Jianbang Technology is navigating a complex landscape with significant growth in non-automotive segments and e-commerce channels, while also addressing challenges related to tariffs and production capacity. The strategic focus on expanding international markets and enhancing production capabilities in Thailand positions the company for future growth.