Core Insights - The company reported a revenue of 61.777 billion yuan for the first half of the year, representing a year-on-year growth of 3.49%, while net profit decreased by 4.39% to 7.2 billion yuan [1] - The cash flow from operating activities saw a significant decline of 44.34%, primarily due to a larger decrease in pre-received payments from distributors compared to the previous year [1] Liquid Milk Segment - The liquid milk segment generated a revenue of 36.126 billion yuan, with a market share increase of 4.3 percentage points in the ambient liquid milk sector, driven by product innovations like "Anmuxi" and "Yogurt with Oat Pearls" [2] - The low-temperature liquid milk segment experienced double-digit revenue growth, with new product launches contributing to a revenue increase of over 20% [2] Milk Powder and Dairy Products - The milk powder and dairy products segment achieved a revenue of 16.578 billion yuan, marking a year-on-year growth of 14.26%, maintaining the industry's leading market share [3] - The company launched new organic infant formula products, enhancing its competitive edge in the infant nutrition market, with a retail market share of 18.1% for infant milk powder [3] Ice Cream and Beverage Business - The ice cream business reported a revenue of 8.229 billion yuan, reflecting a growth of 12.39%, with successful product launches contributing to its market leadership [4] - The water beverage segment also saw double-digit growth, with new product introductions significantly impacting revenue [4]