Core Insights - In the first half of 2025, the company reported a revenue of 766 million yuan, representing a year-on-year increase of 1.38% [1] - The net profit attributable to the company was 7.47 million yuan, showing a significant decline of 78.52% compared to the previous year [1] - The decline in profit is attributed to reduced revenue from the traditional ambient yogurt business, a decrease in market share in the dairy beverage sector, and weak downstream customer demand [1] Revenue and Profit Analysis - The company's revenue for the first half of 2025 was 7.66 billion yuan, which is a slight increase from the previous year [1] - The net profit of 746.61 million yuan indicates a substantial drop, primarily due to increased sales and marketing expenses, which have risen significantly compared to the previous year [1] Business Development and Strategy - The company is optimizing its revenue structure, with new product lines experiencing rapid growth [1] - There has been a notable increase in research and development expenses, with the functional strain resource library expanding from over 6,000 strains at the end of last year to over 50,000 strains [1] - The successful development of low-temperature probiotic beverages marks a significant business breakthrough, and the company plans to continue investing in R&D to enhance its probiotic product matrix [1]