Core Viewpoint - Jiangshan Oupai (603208.SH) reported a significant decline in revenue and net profit for the first half of 2025, primarily due to shrinking industry demand, intensified product price competition, and delayed adjustments in fixed costs [1] Financial Performance - Revenue for the first half of the year was 868 million yuan, a year-on-year decrease of 39.82% [1] - Net profit fell to 10.08 million yuan, a dramatic drop of 90.39% [1] - Operating cash flow showed improvement with a net amount of -98.56 million yuan [1] Strategic Developments - The company is focusing on a product strategy centered around wooden doors, expanding into whole-house decoration, and launching new product lines including metal doors and windows, as well as cabinet products [1] - New scene-based solutions for hotels and wellness sectors have been introduced [1] Market Expansion - The overseas market is identified as a new growth point, with the establishment of a subsidiary in Saudi Arabia and accelerated expansion into the Middle East and Southeast Asia [1] Management Changes - Management changes occurred in July and August, with the resignation of Vice Chairman and General Manager Wang Zhong, and Vice General Managers Liu Jiji and Lu Jianhui [1] - Founder Wu Shuigen has resumed the role of General Manager, while his son Wu Ziyang has been appointed as a new director [1] - The CFO Wu Shuiyan reduced her holdings by 4.394 million shares, amounting to approximately 65.9 million yuan [1]