Core Viewpoint - Ping An Securities report indicates that Yifeng Pharmacy achieved a net profit attributable to shareholders of 880 million yuan in the first half of the year, representing a year-on-year growth of 10.32% [1] - The company continues to develop a new retail ecosystem in pharmaceuticals, focusing on chronic disease management and integrated online and offline health services [1] Financial Performance - The net profit for Q2 was 431 million yuan, with a year-on-year increase of 10.13% [1] - The total number of stores reached 14,701 by the end of the reporting period, including 4,020 franchise stores [1] Store Development - During the reporting period, the company opened 81 self-operated stores and closed 272 stores, while adding 208 franchise stores [1] - By June 30, 2025, the company plans to have 10,681 self-operated stores, including 23 flagship stores, 75 regional center stores, 866 medium-sized community stores, and 9,717 small community stores [1] Strategic Initiatives - The company is advancing its pharmaceutical new retail system based on membership, big data, internet healthcare, and health management [1] - There is a strong emphasis on chronic disease management, online consultations, and a combination of online and offline health management services [1] Future Outlook - The company is expected to see continuous improvement in profit margins as the economy recovers and product structure optimizes [1] - The report maintains a "recommended" rating for the company [1]