Group 1: Investment and Production Strategy - The company plans to replace outdated production capacity and increase overall production levels through the completion of fundraising projects, enhancing flexible and intelligent production capabilities [1] - The capacity of raw material storage will significantly increase, supporting the company in managing raw material price fluctuations and improving risk management [1] Group 2: Business Performance and Strategy - The company adheres to a dual strategy of "expanding product categories and channels," with a slight decline in performance last year, but stable results maintained through Q3 of this year [2] - The company is accelerating the pace of exploring related enterprises and launching new products to seek growth opportunities [2] Group 3: Cost Structure - For pickled vegetable products, the cost breakdown is as follows: raw materials 40%-45%, packaging 20%, auxiliary materials 10%, labor 10%, and manufacturing expenses 10% [3] Group 4: Sales and Marketing Expenses - Increased sales expenses are attributed to the promotion of new products and targeted investments in competitive regions, including vehicle advertising and in-store displays [4] Group 5: Product Optimization - In response to growing health demands, the company has reduced salt content in pickled vegetables by 30% while maintaining taste, and has introduced diverse flavors to meet consumer preferences [5] Group 6: Management Changes - Two management personnel retired this year, with new appointments including a general manager and two vice general managers [6] Group 7: Raw Material Procurement - The company has an average annual procurement of approximately 400,000 tons of raw materials, with local yields of 2-3 tons per mu [7] Group 8: Sales Organization Structure - The company has established four major divisions: household, catering, international, and e-commerce, with adjustments made to optimize distributors and reduce offices due to market disruptions [8] Group 9: Catering Channel Partnerships - The catering channel currently includes various clients such as schools, prisons, airlines, hotels, and large chain restaurants, with ongoing efforts to expand product and channel reach [9]

Group 1: Investment and Production Strategy - The company plans to replace outdated production capacity and increase overall production levels through the completion of fundraising projects, enhancing flexible and intelligent production upgrades [1] - The capacity of raw material storage will significantly increase, supporting the company in managing raw material price fluctuations and enhancing risk management capabilities [1] Group 2: Business Performance and Strategy - The company adheres to a dual strategy of "expanding product categories and channels," with a slight decline in performance last year, but stable performance maintained through Q3 of this year [2] - The company has accelerated the pace of launching new products and exploring potential acquisition targets to seek growth in new categories [2] Group 3: Cost Structure - For pickled vegetable products, the cost breakdown is as follows: raw materials 40%-45%, packaging 20%, auxiliary materials 10%, labor 10%, and manufacturing expenses 10% [3] Group 4: Sales and Marketing Expenses - Increased sales expenses are attributed to the promotion of new products and targeted investments in competitive regions, including vehicle advertising and in-store displays [4] Group 5: Product Optimization - In response to growing health demands, the company has reduced salt content in pickled vegetables by 30% while maintaining taste, and has introduced diverse flavors to meet consumer preferences [5] Group 6: Management Changes - Two management personnel retired this year, with a new appointment process completed, and a senior manager is expected to retire in 2026 [6] Group 7: Raw Material Procurement - The company has an average annual procurement of approximately 400,000 tons of raw materials, with local yields of 20,000 to 30,000 tons per acre [7] Group 8: Organizational Changes - Recent changes in the sales offices and distributors have occurred due to the implementation of a channel penetration strategy, optimizing underperforming distributors [8]

Core Viewpoint - The company is diversifying its product offerings beyond traditional categories, focusing on the development of snack foods and innovative products to drive growth [2]. Group 1: Company Strategy - The company acknowledges the differing strategies among competitors and emphasizes its commitment to diversification in product development [2]. - The company has launched new snack products, including "Xiao Cui Kou" and "Only Wujiang," which are designed for various consumption scenarios [2]. - A joint innovation center was established in May to collaborate with universities and research institutions, aiming to enhance product innovation and technological advancements [2]. Group 2: Market Position - The company is exploring opportunities in the snack food segment, which is perceived as a "blue ocean" market compared to the competitive "red ocean" of hot pot base ingredients [2].