Core Insights - The company reported a net profit of approximately -253 million yuan for the first half of 2025, indicating an increase in losses compared to the previous year [1] - The company's revenue for the first half of 2025 was approximately 1.896 billion yuan, representing a year-on-year decline of 36.32% [1] - The decline in revenue is attributed to increased competition from market competitors and the closure of unprofitable IPs and offline stores [1] Financial Performance - The net profit for the first half of 2025 was -253 million yuan, which shows a worsening financial position compared to the same period last year [1] - The total revenue for the first half of 2025 was approximately 1.896 billion yuan, down from the previous year, reflecting a significant decrease in business activity [1] Business Operations - The company primarily engages in digital marketing, with business segments including social e-commerce, new media advertising, self-owned brands, distribution, and apparel and footwear [1]