Group 1: Company Qualifications and Global Presence - Hezhiyoude was established in 2007 with a registered capital of 80 million yuan and is headquartered in Tianjin [2] - The company obtained a direct selling license in March 2016, becoming the 75th licensed direct selling enterprise in China [2] - Hezhiyoude's products hold the national health food "blue hat" mark and production approval numbers, complying with food safety laws [2] - The company operates in over 100 countries and regions across Asia, Europe, Africa, and America, establishing a global support system [2] Group 2: Quality Systems and Certifications - Hezhiyoude implements a three-tier quality control system, including ISO9001 and HACCP certifications [3] - Several products have received Kosher certification, meeting high global health standards [3] - The company was awarded five honors in 2025, including "National Product and Service Quality Integrity Brand" and "National Industry Quality Leading Enterprise," with a 100% product inspection pass rate over the past three years [3] Group 3: Technological Innovation and Capacity Upgrade - Hezhiyoude integrates industry-academia-research collaboration, led by experts in traditional Chinese medicine and biology [6] - The global operations headquarters was established in Tianjin in 2021, optimizing production layout and enhancing capacity with automated equipment [6] - The company promotes smart and low-carbon production, receiving the "2023 New Champions Innovation Award" from the World Economic Forum [6] Group 4: Social Responsibility and Charitable Contributions - Hezhiyoude has invested over 9.11 million yuan in projects such as building hope primary schools and assisting families with serious illnesses [7] - The company donated 3.1 million yuan to support women's and children's welfare projects along the Belt and Road Initiative [7] - During the COVID-19 pandemic, Hezhiyoude donated 3.6 million yuan worth of supplies to support hospitals [7] Group 5: Integrity in Business and Future Vision - Hezhiyoude has established a comprehensive integrity system covering product development, after-sales service, and cultural construction [8] - The company focuses on green health technology products under the framework of "Global Strategy Connecting the World" [8] - Hezhiyoude aims to contribute to the Healthy China strategy by positioning itself as a "four practitioner" in building a global health community [8] Conclusion - With 17 years of steady development, a presence in over 100 countries, national quality certifications, and significant charitable contributions, Hezhiyoude exemplifies a reputable enterprise in the health industry [9] - The company is poised to lead the industry towards high-quality development through its global operations headquarters and digital transformation [9]

Core Insights - The article highlights the successful five-year journey of Atomy (China), showcasing its business growth and commitment to social responsibility [1][14] - Atomy has invested nearly 60 million yuan in public welfare since entering the Chinese market in 2017, demonstrating a strong commitment to social contributions [1][3] Group 1: Social Responsibility Initiatives - Atomy's public welfare efforts are systematic and continuous, with notable support for the "Smile Action" project, which provides free surgeries for children with cleft lips and palates [3][4] - The "Smile Action" project has helped over 200 children receive corrective surgeries, improving their physical and psychological well-being [3] - The "Guarding the Health of Girls" project addresses menstrual poverty for adolescent girls in remote areas, donating sanitary products to thousands [4] Group 2: Unique Business Philosophy - Atomy integrates business operations with social responsibility, guided by a philosophy that values human dignity and unconditional care [6] - The company promotes a flat management structure and emphasizes work-life balance, contributing to its recognition as a top workplace in Asia [6] - Atomy's training platform, Success Academy, has trained 50,000 distributors, enhancing customer loyalty [6] Group 3: Quality Control and Market Trust - Atomy adheres to the principle of "absolute quality and absolute price," which has earned consumer trust through high-quality products at competitive prices [8] - The company has established a rigorous quality control system, exemplified by its collaboration with the Korea Atomic Energy Research Institute for product development [8] Group 4: Innovation-Driven Development - Atomy plans to innovate through live streaming and digital investments, including the introduction of an "AI Community Manager" for personalized member services [10] - The company aims to expand into small appliances and health food sectors, leveraging China's manufacturing advantages [10] Group 5: Future Development Plans - Atomy aims to become one of the top taxpayers in Shandong province and plans to expand its membership and sales over the next three to five years [12] - The company is constructing a 12,000 square meter brand research center to enhance brand experience and product innovation [12] - Atomy will continue to invest in social responsibility initiatives in education, environmental protection, and explore carbon neutrality [12] Group 6: Insights on Localization - Atomy's experience in China illustrates the importance of integrating values and innovation in the localization process for foreign enterprises [14] - The company emphasizes a long-term commitment to social responsibility as part of its core strategy, aiming for sustainable growth in the Chinese market [14][16]

2025年10月21日-23日，2025全域营销产业论坛暨第九届环球直销峰会在广东清远隆重举行。和治友德公司副董事长鲜胜先生作为主题演讲嘉宾受邀出席 本次活动。会上，和治友德公司荣获"GDS年度卓越企业奖"、和治友德气血温通养生仪荣获"GDS年度明星产品奖"。 峰会现场 本次峰会由环球直销研究中心主办，广东省直销企业协会联合主办，道道国际传媒承办。活动以"科技重塑直销生产力"为主题，旨在搭建全球直销行业的 高端交流平台，共同探讨AI技术驱动下的行业变革与未来发展路径，200余位海内外直销企业代表、行业领袖、专家学者、业界菁英共赴盛会。 本次大会还进行了《全球直销舆情报告》的权威发布，将为行业提供数据支撑与趋势研判；"直消保"系统的盛大首发，将助力企业提升消费者权益保护能 力。 鲜胜副董事长出席"直消保"发布仪式 国家市场监督管理总局产品质量安全监督司原巡视员刘敏；青岛市工商局原党委委员、总经济师、二级巡视员王滨；原国家工商行政管理总局竞争执法局 直销处处长张卫明；原广东省打传办专职副主任、广东省直销企业协会首席顾问朱国汉；中国政法大学教授、原中国政法大学商学院创始院长、直销研究 专家孙选中出席大会。 会上，鲜 ...

10月18日，山西云丘山，直销企业"琪尔康"轰轰烈烈地召开了"1018生态全球启航发布会"，这是一个重启直销业务的明确信号。 实际上，琪尔康并不是一个人在战斗。有公开资料统计，今年以来已经有9家企业试图重启直销业务。 行业的另一面，是截至2025年9月，商务部按下直销牌照审批的暂停键已长达六年。在这期间，公开信息显示已有5家持牌企业正式退出直销市场，另有13 家许久未开展相关业务。 今年恰逢《直销管理条例》与《禁止传销条例》颁布20周年。在这两个十年间，直销行业经历过暴富的大喜，也见证了行业被速冻冷却的大悲。除了安利 纽崔莱、无限极之外，中国市场上已经基本没有了知名直销公司的身影。 一边是企业声势浩大重启业务，一边是牌照注册冷却、持牌企业注销。直销这座"危城"中的企业，正在经历着外人难以感悟的挣扎。 剧变 中国直销行业的命运转折点发生在2001年。那一年，中国加入WTO，承诺3年后逐步放开无固定地点批发或者零售服务（包括直销）。 2005年，《直销管理条例》与《禁止传销条例》出台，确立了直销企业的合法地位，也明确了传销的非法地位。从此，直销在法律上与传销正式区分开 来，成为新的企业类型。 从此，直销行业在中国 ...

Financial Data and Key Metrics Changes - In Q2 2026, net revenues decreased to $4.6 million from $6.5 million in Q2 2025, representing a decline of approximately 29.2% [6] - Average active PaperPie brand partners fell to 5,800 from 13,900 year-over-year [6] - Losses before income taxes improved to $1.8 million from a loss of $2.5 million in the prior year [6] - Net loss decreased to $1.3 million compared to a loss of $1.8 million, with loss per share improving to $0.15 from $0.22 [7] - Year-to-date net revenues were $11.7 million, down from $16.5 million, with average active brand partners at 6,800 compared to 13,700 [7] Business Line Data and Key Metrics Changes - The PaperPie division experienced a significant decline in brand partner levels, attributed to a challenging sales environment and lack of new product introductions for 18 months [3][4] - The company is focusing on increasing brand partner counts and improving technology to attract younger demographics, specifically Millennials and Gen Z [4][5] Market Data and Key Metrics Changes - The retail side of the business showed steady performance, particularly in specialty, toy, and gift markets, indicating strong relationships with retail partners [12] Company Strategy and Development Direction - The company is adopting a conservative phased approach to introduce new products, aiming for a post-building sale close in spring 2026 [4] - There is a focus on reducing costs and improving results, with a target to return to revenue growth by adding brand partners [5] - The company is exploring alternative financing options post-building sale, with a conservative approach to new credit lines [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging sales environment and the need to energize the sales force through new titles [4][26] - There is confidence in the upcoming sale of the Hilty Complex to improve financial stability and support future growth [13][20] Other Important Information - Inventory levels decreased from $44.7 million to $40.7 million, generating $4 million in cash flow used to pay down debts [8] - The bank has not renewed loan agreements, leading to a notice of default, but management remains confident in meeting obligations until the building sale is completed [8][13] Q&A Session Summary Question: Is the buyer group related to Tenmark Holdings? - Yes, the buyer group is related to Tenmark Holdings, which has significant real estate holdings in Oklahoma [16] Question: How much earnest money is entitled? - The earnest money is $100,000, which will remain in escrow until closing [17] Question: Expected net from the property sale after costs? - The company expects to net enough from the sale to support its plans, though specific figures are not disclosed [18][19] Question: Confidence in closing the sale at $32.2 million? - There is a very high degree of confidence in closing the sale at the expected price [20] Question: Status of establishing a new credit line? - The company is developing several options for financing, likely starting with a conservative $3 to $5 million [21] Question: Cost-cutting measures and potential for profitability? - Major cost impacts include interest expenses and aggressive discounting; the company is also working on reducing excess inventory [23][24] Question: Impact of new titles on brand partner count? - Introducing new titles is expected to help stem the loss of brand partners, but a comprehensive approach is needed for recovery [26][29] Question: Plans for reinstating dividends post-bank obligations? - The goal is to generate positive cash flow and potentially reinstate dividends, but this is not expected to happen for at least a couple of quarters [30][31] Question: Collateralized items under the bank agreement? - All assets, including the building, accounts receivable, inventory, equipment, and land, are cross-collateralized [35][37] Question: Plans for increasing brand partner count? - A multi-pronged approach is planned, including marketing initiatives and new product introductions targeting younger demographics [39][40]

Financial Data and Key Metrics Changes - In Q2 2026, net revenues decreased to $4.6 million from $6.5 million in Q2 2025, representing a decline of approximately 29.2% [6] - Average active PaperPie brand partners fell to 5,800 from 13,900 year-over-year [6] - Losses before income taxes improved to $1.8 million from a loss of $2.5 million in the prior year [7] - Net loss decreased to $1.3 million compared to a loss of $1.8 million, with loss per share improving to $0.15 from $0.22 [7] - Year-to-date net revenues were $11.7 million, down from $16.5 million, with average active brand partners at 6,800 compared to 13,700 [7][8] Business Line Data and Key Metrics Changes - The PaperPie division experienced a significant decline in brand partner levels, attributed to a challenging sales environment and lack of new product introductions for 18 months [3][4] - The company is focusing on increasing brand partner counts and improving technology to attract younger demographics, specifically Millennials and older Gen Z [4][5] Market Data and Key Metrics Changes - The retail side of the business showed steady performance, particularly in specialty, toy, and gift markets, indicating strong relationships with retail partners [12] Company Strategy and Development Direction - The company is adopting a conservative phased approach to product introductions, aiming for a post-building sale close in spring 2026 [4] - There is a focus on reducing costs and improving results, with a goal to return to revenue growth by adding brand partners [5] - The company is exploring alternative financing options post-building sale to ensure operational stability [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging sales environment and the need to energize the sales force through new titles [4][26] - There is confidence in the upcoming sale of the Hilty Complex to improve financial standing and support future growth [13][20] Other Important Information - Inventory levels decreased from $44.7 million to $40.7 million, generating $4 million in cash flow used to pay down debts [8] - The bank has not renewed loan agreements, leading to a notice of default, but management remains confident in meeting obligations until the building sale is completed [8][13] Q&A Session Summary Question: Is the buyer group related to Tenmark Holdings? - Yes, the buyer group is related to Tenmark Holdings, which has significant real estate holdings in Oklahoma [16] Question: How much earnest money is entitled? - The earnest money is $100,000, which will remain in escrow until closing [17] Question: What is the expected net from the property sale? - The company expects to net enough from the sale to support its plans, though specific figures are not disclosed [18] Question: Confidence in closing the sale at $32.2 million? - There is a very high degree of confidence in closing the sale at the expected price [20] Question: Plans for establishing a new credit line? - The company is developing several options for financing, with a conservative approach expected [21] Question: What costs have been cut and what remains? - Major cost impacts include interest expenses and aggressive discounting; ongoing cost-saving initiatives are in place [22][24] Question: How much of the decline in brand partners is due to lack of new titles? - The inability to introduce new titles has significantly impacted brand partner numbers, and new titles are expected to help stem losses [25][26] Question: Plans for reinstating dividends? - While the goal is to generate positive cash flow and reinstate dividends, it is not expected to happen immediately [30][31] Question: What collateralized items are involved in the bank agreement? - The bank agreement cross-collateralizes all assets, including the building, accounts receivable, inventory, equipment, and land [35][37] Question: Plans for increasing brand partner count? - A multi-pronged approach is planned, including marketing initiatives and new product introductions to attract younger demographics [39][40]

Financial Data and Key Metrics Changes - In Q2 2026, net revenues decreased to $4.6 million from $6.5 million in Q2 2025, representing a decline of approximately 29.2% [6] - Average active PaperPie brand partners fell to 5,800 from 13,900 year-over-year [6] - Losses before income taxes improved to $1.8 million from $2.5 million, while net loss decreased to $1.3 million from $1.8 million [6] - Year-to-date net revenues were $11.7 million compared to $16.5 million, a decline of approximately 29.1% [6] - Year-to-date losses before income taxes totaled $3.2 million, down from $4.2 million [6] Business Line Data and Key Metrics Changes - The PaperPie division experienced a significant decline in brand partner levels, attributed to a challenging sales environment and lack of new product introductions for 18 months [3][4] - The company is focusing on increasing brand partner counts and improving technology to attract younger demographics, specifically Millennials and older Gen Z [4][5] Market Data and Key Metrics Changes - The retail side of the business showed steady performance, particularly in specialty, toy, and gift markets, indicating a strong relationship with retail partners [12] - Despite a challenging broader selling environment, enthusiasm among brand partners remains high, contributing to a diversified revenue base [12] Company Strategy and Development Direction - The company is adopting a conservative phased approach to introduce new products, targeting a new generation of brand partners [4] - Efforts are being made to improve technology for a mobile-first impact and enhance the onboarding process for new brand partners [5] - The company is also focused on reducing costs and improving results, aiming for a return to revenue growth through increased brand partner recruitment [5] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging sales environment and the need for new product introductions to energize the sales force [4][28] - The company expects to complete the sale of its headquarters, which will help pay off bank loans and provide a foundation for future growth [13] - Management expressed confidence in emerging stronger and more resilient post-sale, with plans to explore financing options thereafter [13] Other Important Information - Inventory levels decreased from $44.7 million to $40.7 million, generating $4 million in cash flow used to pay down debts [8] - The bank has not renewed loan agreements, and the company is currently in default status, but continues to make payments [8][13] Q&A Session Summary Question: Is the buyer group related to Tenmark Holdings? - Yes, the buyer group has significant real estate holdings in Oklahoma and understands the area well [17] Question: How much earnest money is entitled? - The earnest money is $100,000, which will likely stay in escrow until closing [18] Question: What is the expected net from the property sale after costs? - The company expects to net enough to initiate their plans post-sale [19] Question: Confidence level in closing the sale at $32.2 million? - There is a very high degree of confidence in closing the sale at that level [21] Question: Status of establishing a new credit line? - The company is developing several options for financing, likely starting with a conservative $3 to $5 million [23] Question: What costs have been cut and what remains? - Major impacts on P&L include interest expenses and aggressive discounting; excess inventory and warehouse costs are also being addressed [25][26] Question: How much of the brand partner decline is due to lack of new titles? - The inability to introduce new titles has significantly impacted brand partner numbers, and new titles are expected to help stem losses [27][28] Question: Plans for reinstating dividends post-sale? - The company aims to generate positive cash flow and potentially reinstate dividends, but this is not expected for at least a couple of quarters [32] Question: What collateralized items are involved in the bank agreement? - The bank agreement cross-collateralizes all assets, including the building, accounts receivable, inventory, equipment, and land [36] Question: Plans for increasing brand partner count? - A multi-pronged approach is being implemented, including providing tools for current brand partners to recruit new ones and introducing new titles [40]

Core Drivers - The core driver of the pyramid scheme is "recruiting new members," where income is primarily derived from the number of recruits rather than actual product sales. The profit model relies on entry fees from new participants, creating a pyramid structure that depends on continuous expansion [4]. - In contrast, Atomy's core driver is "product sales," focusing on providing high-quality products that meet consumer needs. Over 75% of Atomy's revenue comes from repeat purchases, indicating a sustainable business model centered on consumer satisfaction rather than recruitment [4]. Value Basis - Pyramid schemes often rely on false advertising and low-quality products, with participants required to purchase overpriced items that lack real market value. The primary goal is to extract money from participants rather than provide genuine value [7]. - Atomy's value foundation is built on "mass premium" products, selected globally for their quality and cost-effectiveness. The company's strategy ensures that products have independent market value and meet real consumer needs, supporting sustainable business growth [7]. Consumer Role - In pyramid schemes, consumers are exploited and positioned at the bottom of the hierarchy, where they often suffer financial losses while those at the top benefit from their investments. This model is characterized by deception and harm, functioning as a zero-sum game [11]. - Atomy views consumers as valuable partners, promoting a philosophy of "unity between consumers and operators." Consumers are encouraged to share their experiences and earn reasonable profits from product sales, aligning their interests with the company's performance [11]. Conclusion - The fundamental difference between Atomy's model and pyramid schemes lies in Atomy's focus on products and consumer needs, creating a sustainable ecosystem, while pyramid schemes prioritize recruitment and exploitative practices. Atomy's commitment to consumer-centric values fosters a healthy and transparent business environment, clearly distinguishing it from pyramid schemes [11].

Core Perspective - The article highlights the fundamental differences between Atomy and pyramid schemes, emphasizing Atomy's commitment to social responsibility and compliance versus the deceptive practices of pyramid organizations [1][12]. Group 1: Philanthropic Practices - Atomy integrates social responsibility into its corporate DNA, with initiatives like the "Guarding Buds" scholarship fund benefiting rural students, and all donations are audited and publicly disclosed [3][4]. - In contrast, pyramid schemes disguise their fraudulent activities under the guise of charity, often requiring participants to pay substantial fees with false promises of high returns, ultimately leading to financial loss for participants [3][4]. Group 2: Product Logic - Atomy's product philosophy is based on providing high-quality products at reasonable prices, with over 400 products subjected to strict quality control, exemplified by their Manuka honey priced at one-third of similar products and maintaining a repurchase rate of 68% over 18 months [4][6]. - Pyramid schemes, however, promote products based on inflated claims and unrealistic pricing structures, where the majority of profits are siphoned off by upper-level participants, leading to unsustainable business models [6][8]. Group 3: Regulatory Framework - Atomy has established a comprehensive compliance network, including a code of conduct that prohibits false advertising and a self-regulatory committee to address violations, ensuring consumer rights are protected [7][8]. - Pyramid organizations rely on psychological manipulation and control tactics to maintain their operations, often involving extreme measures to isolate and indoctrinate participants [8][9]. Group 4: Value Foundation - Atomy's global strategy reflects a long-term vision, with a production base in Korea and a sales platform connecting to 27 countries, aiming for a global sales target of 2.2 trillion Korean won in 2024 [9][12]. - Conversely, pyramid schemes operate on a short-term profit model, often leading to financial collapse when the funding chain breaks, leaving participants with significant debts [12]. Conclusion - The essential distinction between Atomy and pyramid schemes lies in Atomy's focus on product value, compliance, and social responsibility, creating a sustainable business ecosystem, while pyramid schemes rely on deception and exploitation, ultimately undermining social trust [12].

Financial Data and Key Metrics Changes - Revenues increased approximately 13% year over year to $55.1 million, driven largely by the MindBody GLP-1 System [5] - Adjusted EBITDA of $4.8 million was flat versus last year's fourth quarter, with adjusted non-GAAP net income of $2.3 million, or $0.17 per fully diluted share [17][18] - Gross margin expanded by 40 basis points to 79.9% compared to the prior year period, primarily due to lower shipping costs and a favorable product mix [16] Business Line Data and Key Metrics Changes - Revenue in the Americas region increased 14% to $43.5 million, benefiting from the success of the MindBody GLP-1 System [15] - Active accounts in the Americas were up 6%, with increases in both consultants and customers [6] - Revenue in Asia-Pacific/Europe increased by 7.6% to $11.6 million, reflecting the positive impact of the international MindBody rollout [16] Market Data and Key Metrics Changes - The international business returned to growth for the first time in 12 quarters, with revenues in Asia-Pacific/Europe increasing by 8% [5] - The global gut health supplement market is projected to grow from $14.4 billion in 2025 to $32.4 billion by 2035, with a CAGR of 8.4% [7][8] Company Strategy and Development Direction - The company announced a definitive agreement to acquire LoveBiome, which focuses on microbiome health, enhancing its product portfolio and market presence [6][10] - The partnership with LoveBiome aims to accelerate growth through cross-selling opportunities and operational leverage [9][10] - The company is committed to modernizing its technology and marketing stack through a partnership with Shopify to enhance consumer experience [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver sustainable long-term value, supported by the successful rollout of the MindBody GLP-1 System and the LoveBiome acquisition [15] - The outlook for fiscal 2026 anticipates full-year revenue in the range of $225 million to $240 million, with adjusted non-GAAP EBITDA expected between $23 million and $26 million [20] Other Important Information - The company repurchased approximately 160,000 shares during the fourth quarter at an average price of $12.74 per share [19] - A quarterly cash dividend of $0.04 per share was announced, totaling approximately $600,000 [19] Q&A Session Summary Question: What caused the disconnect in fourth quarter revenue expectations? - Management noted that the U.S. experienced some softness due to seasonality impacts, while international numbers remained strong [22][23] Question: How much of the fiscal 2026 growth will come from LoveBiome versus organic growth? - Management indicated that the integration of LoveBiome is still being assessed, with a modest amount of revenue expected from the acquisition [23] Question: Can you provide details on LoveBiome's sales and consultant numbers? - Management refrained from disclosing specific revenue metrics or consultant numbers for LoveBiome at this time [24] Question: What is the market position of LoveBiome? - LoveBiome is a relatively young company, established in 2022, with a focus on gut microbiome health [26][29] Question: How does P84 compare to existing products? - P84 is marketed as a comprehensive product focused on the microbiome, complementing existing prebiotic and probiotic offerings [34]