Core Viewpoint - Guo Hai Securities report indicates that Ru Yuchen achieved a net profit attributable to shareholders of 72 million yuan in the first half of the year, representing a year-on-year increase of 85.60% [1] Financial Performance - In Q2 2025, the net profit attributable to shareholders reached 45 million yuan, with a year-on-year growth of 71.72% [1] Business Growth - The company's proprietary brand revenue is experiencing rapid growth, while brand management business is steadily increasing [1] Marketing Strategy - The marketing approach involves leveraging celebrity endorsements to accurately reach target demographics [1] Channel Development - Zhenjia continues to enhance its omnichannel capabilities, with significant growth on platforms such as Tmall, Douyin, Xiaohongshu, and JD.com [1] - During the 618 shopping festival, the overall GMV across channels increased by over 160% year-on-year [1] Product Popularity - According to data from Xingtu, Douyin's top 10 best-selling brands for clothing disinfectants, laundry liquids, and underwear detergents in June 2025 were highlighted [1] Strategic Partnerships - The company is deepening its strategic cooperation with Sam's Club and entering high-quality channels such as Yonghui Bravo [1] Future Outlook - As a leading operator, the company has validated its ability to incubate proprietary brands and is optimistic about the further development of its proprietary brands [1] - The report maintains a "Buy" rating for the company [1]