Core Viewpoint - Juyuan Co., Ltd. (002242.SZ) reported a decline in both revenue and net profit for the first half of 2025, indicating ongoing challenges in the market [1]. Financial Performance - The total revenue for the first half of 2025 was 3.99 billion CNY, a decrease of 9.11% compared to the same period last year [2][6]. - The net profit attributable to shareholders was 123 million CNY, down 30.02% year-on-year [1]. Revenue Breakdown - The appliance industry accounted for 99.24% of total revenue, with a revenue of approximately 3.96 billion CNY, reflecting an 8.05% decline [2][6]. - The food processing machine series generated 1.46 billion CNY, representing 36.67% of total revenue, showing a slight increase of 2.58% [3][6]. - The nutrition pot series contributed 1.58 billion CNY, which is 39.65% of total revenue, but saw a significant decline of 14.20% [3][6]. - The western-style appliance series generated 728 million CNY, accounting for 18.27% of total revenue, down 13.98% [3][6]. - Other businesses saw a drastic decline of 63.72%, with revenue of 30 million CNY [2][6]. Historical Context - Juyuan Co., Ltd. has experienced a continuous decline in both revenue and net profit for three consecutive years from 2021 to 2024, with 2024 marking the largest drop in nearly four years [4]. - In 2020, the company achieved its highest net profit of 940 million CNY [4]. Management Changes - The company saw changes in its board, with the resignation of independent directors and the general manager during the reporting period [7]. - The general manager, Guo Lang, received a pre-tax compensation of 2.8 million CNY in 2024, a decrease of 43% from 2023 [7].