Core Viewpoint - Company is actively expanding its overseas market presence and maintaining strong product quality as its core competitive advantage, while also developing its domestic market for yeast extract products. Group 1: Overseas Operations - The company's overseas operating model is consistent with its domestic market, utilizing a distributor agency system and expanding sales channels to achieve a distributor density close to that of the domestic market [2][7]. - The company confirms its agents through trade shows and direct communication, with agents being either yeast sellers or from related food ingredient industries [3]. - The company has a competitive advantage in overseas markets primarily due to product quality, channel development, and service, rather than low pricing [4][8]. Group 2: Market Potential - Yeast is a global product with established usage habits in overseas markets, and the company is gradually increasing its market share [5]. - The domestic yeast extract market is still in the development stage, with significant growth potential as the usage ratio in the seasoning industry is currently low [6]. - The company believes there is still considerable growth space in overseas markets, as its overall market share remains low [7]. Group 3: Production and Capacity - The company has achieved a balance between production and sales after years of capacity expansion, which is expected to support future market development [9]. - The company is investing in Indonesia due to its advantageous location for market access and raw material sourcing [10]. - The majority of the production from the company's two overseas factories is still exported [11]. Group 4: European Market - The European market is one of the fastest-growing regions for the company, with established sales channels for yeast extracts and plans for localizing production and expanding product categories [13]. Group 5: Financial Performance - For the first half of 2025, the company reported a main revenue of 7.899 billion yuan, a year-on-year increase of 10.1%, and a net profit of 799 million yuan, up 15.66% year-on-year [18]. - The company has received positive ratings from 29 institutions in the last 90 days, with 24 buy ratings and 5 hold ratings, indicating strong market confidence [18].