Core Viewpoint - Juewei Foods (603517.SH) is struggling to achieve its ambitious revenue target of 10 billion yuan by 2025, as the company reported a significant decline in both revenue and net profit in the first half of 2025 [1][4]. Financial Performance - In the first half of 2025, Juewei Foods achieved revenue of 2.82 billion yuan, a year-on-year decrease of 15.57%, and a net profit of 175 million yuan, down 40.71% year-on-year [1][4]. - The company aims to reach a total revenue of 10.94 billion yuan by 2025, requiring a revenue of 8.12 billion yuan in the second half of 2025, which is deemed highly unlikely given current performance [1][5]. Production and Expansion - As of the end of 2024, Juewei Foods had established 21 production bases nationwide, including three under construction, down from 22 bases the previous year [1][10]. - Two of the three under-construction bases in Guangdong and Guangxi have been delayed by two years, impacting the company's production capacity [1][12]. Market Presence - Juewei Foods has seen a reduction in its store count, with a net closure of nearly 1,000 stores in the first half of 2024, bringing the total to 14,969 stores [8][9]. - The company had previously experienced rapid growth in store numbers, reaching 15,950 stores by the end of 2023, but the recent trend indicates a slowdown [7][8]. Stock Performance - Juewei Foods' stock price has significantly declined from a peak of 105.2 yuan per share in February 2021 to 16.21 yuan per share as of August 29, 2025, representing a drop of approximately 85% [6].