Core Viewpoint - Jiangsu Jinshiyuan achieved resilient business development in a challenging white liquor industry environment, reporting revenue of 6.95 billion and net profit of approximately 2.23 billion in the first half of 2025 [1] Market Strategy - The company adopted a dual-line growth strategy focusing on deepening market penetration in Jiangsu province while expanding into other provinces, utilizing a "six focus" strategy to enhance the market share of the Guoyuan brand [2] - E-commerce channels showed positive growth through youth-oriented operations and scenario-based marketing, while the company established a "four-level market" system to support sustainable growth outside Jiangsu [2] - Brand building efforts included diverse activities to strengthen the high-end image of the Guoyuan series and emotional marketing strategies for the Jinshiyuan brand [2] Operational Improvement - The company emphasized project management, optimizing human efficiency, and enhancing value, transitioning towards a "lean" operational model [3] - Key projects were monitored with clear progress indicators and responsibility lists, ensuring quality management through supplier oversight and benchmark teams [3] - The company received top ESG ratings, including AAA from Zhongzheng ESG and AA from Wind ESG, maintaining a strong position in international ratings [3] Capacity Layout - Jinshiyuan balanced current demand with future planning, focusing on a "quantity and quality" growth path while maintaining stable growth in raw liquor production [4] - The company is set to launch a 20,000-ton clear elegant sauce workshop, increasing raw liquor capacity to 80,000 tons, and is implementing industry-leading smart brewing technologies [4] - The company has established a 200,000-ton ceramic jar storage capacity and is advancing its zero-carbon factory initiatives with operational solar power projects [4]