Core Viewpoint - The company is undergoing a strategic transformation focusing on offline expansion, product innovation, supply chain upgrades, and brand rejuvenation to meet evolving consumer demands and establish itself as a new benchmark in the retail industry [1][2][4] Group 1: Strategic Transformation - The company has initiated a strategic upgrade over the past two years, emphasizing a "big product, milestone, sustainability" development strategy while optimizing its business structure and introducing self-operated sales formats [2] - The company has shifted from an open authorization model to an invitation-based franchise model, enhancing control over distributors and the supply chain [2] Group 2: Offline Expansion - The company has accelerated its offline channel development, opening its first brand pop-up store in Shanghai in December 2024, focusing on its light luxury product line [3] - The company plans to establish flagship stores, themed experience stores, and community center stores as part of its core direction for strategic transformation in 2025 [3] Group 3: Financial Performance - In 2024, the company achieved a revenue of 3.358 billion yuan, representing a year-on-year growth of 24.75%, and continued this positive trend with a revenue of 729 million yuan in the first quarter of 2025 [3] Group 4: Brand Value Creation - The chairman emphasized that the essence of retail is to continuously create value, aiming for each store and product to become a "trust pivot" for brand value, encouraging repeat purchases from consumers [4]