Group 1 - The company reported a revenue of 1.94 billion yuan for the first half of 2025, representing a year-on-year increase of 8.21%, primarily due to the expansion of new business channels and increased revenue from new model businesses [1] - The company experienced a net loss of 51 million yuan, a shift from profit to loss compared to the previous year, mainly due to a decline in gross profit [1] - As of June 30, 2025, the total number of stores was 2,979, a decrease of 14.2% year-on-year, with 1,395 direct-operated stores (47%) and 1,584 franchised stores (53%), indicating a gradual transition from a traditional retail model to a chain management service and supply chain platform model [1] Group 2 - The company continued to implement an omnichannel expansion strategy, adding 44 new distributors during the reporting period [2] - The focus of the special distribution business was on transportation hubs and educational settings, successfully expanding into diverse service models such as push carts and VIP waiting rooms [2] - The company actively explored the campus nutrition meal sector, successfully launching a meal distribution project in schools in Suzhou, and strengthened regional招商 through platforms like the Shenzhen gift exhibition [2]