Core Insights - In the first half of 2025, the company reported a revenue of 1.035 billion yuan, a year-on-year decrease of 12.21%, and a net loss of 97 million yuan [1] - The company’s brewing business generated a revenue of 423 million yuan, while the ready-to-drink business achieved a revenue of 591 million yuan, reflecting a year-on-year growth of 8.03% [1] - The company is committed to a "dual-drive" strategy focusing on "stability, progress, and transformation" to navigate the changing external consumption environment [1] Financial Performance - Revenue for the first half of 2025 was 1.035 billion yuan, down 12.21% year-on-year [1] - Net loss for the same period was 97 million yuan [1] - The brewing business revenue was 423 million yuan, while the ready-to-drink segment saw an increase to 591 million yuan, up 8.03% year-on-year [1] Strategic Initiatives - The company plans to continue its "dual-drive" strategy in the second half of the year, focusing on "stabilizing brewing and strengthening ready-to-drink" operations [1] - In Q3, the company will enter the peak season for brewing business, emphasizing channel stocking and inventory management [1] - The company aims to enhance the gift market by developing upgraded gift packaging products to meet consumer demand [1] Product Development - The company will increase the launch of new products in the second half of the year to build momentum for market expansion [2] - The brewing business will introduce new flavors and "functional" health products for trial sales [2] - The ready-to-drink segment plans to continue launching more cup-based products and explore new market segments to enhance growth potential [2]