Core Viewpoint - The company, Two Sides Needle, is utilizing a hybrid sales model that combines both online and offline channels for its product distribution [1] Online Sales Channels - The online sales strategy primarily leverages major e-commerce platforms such as Tmall, JD.com, Douyin, and Pinduoduo, along with live streaming sales [1] Offline Sales Channels - The offline sales approach includes a network of distributors covering small and medium-sized supermarkets, convenience stores, and hotels, as well as direct supply to large supermarkets and chain hotels like RT-Mart, Walmart, and Atour Hotels [1]

Group 1 - The gold market is experiencing a surge in consumer demand ahead of the National Day holiday, with promotional activities such as cashback and gifts being offered by retailers [1] - Analysts note that the period from September to October is a peak season for gold consumption, particularly for wedding and self-gifting jewelry, as related products are being launched [1] - Dongwu Securities has initiated coverage on Zhou Li Fu, giving it an "Accumulate" rating, citing strong online growth and significant expansion potential for offline stores [1] Group 2 - Zhou Li Fu's online business is rapidly expanding and is currently leading the industry, while the company is also focusing on differentiated strategies and multi-channel development [1] - The company is expected to benefit from the expanding gold jewelry market and its potential growth in the North and East China markets, indicating long-term revenue growth prospects [1]