Financial Performance - The company reported a significant decline in net profit, down 76.19% year-on-year, with a total revenue of 367 million yuan, a decrease of 13.72% compared to the previous year [1] - The gross margin fell to 15.81%, a decrease of 40.14%, while the net margin dropped to 2.33%, down 80.6% year-on-year [1] - In the second quarter, total revenue was 196 million yuan, down 14.38%, and net profit was 16.86 million yuan, a decline of 29.16% [1] Key Financial Metrics - The company's operating expenses, including sales, management, and financial costs, totaled 42.14 million yuan, accounting for 11.47% of revenue, an increase of 1.25% year-on-year [1] - Earnings per share decreased to 0.04 yuan, down 75.74% year-on-year, while operating cash flow per share increased by 62.58% to 0.17 yuan [1] - The company’s return on invested capital (ROIC) was reported at 2.86%, indicating weak capital returns over recent years [3] Business Strategy and Outlook - The company plans to maintain its position as a traditional taurine supplier while also focusing on developing its own brand products in the health and consumer goods market [4] - The management expressed confidence in the taurine market, citing a strong foundation built over 20 years and readiness to capitalize on macroeconomic policies aimed at expanding domestic demand [3][4] - The company emphasizes the importance of its marketing-driven business model and the need to monitor accounts receivable, which currently stands at 182.19% of profits [3]