从2020年出售百草味，到近期投资零食渠道，好想你虽然在产业布局上动作不断，但石训始终强调"坚 守主业初心"。"我们要围绕'红枣+健康锁鲜食品'的主业做精做强，实现基业长青的奋斗目标。"石训日 前在接受上海证券报记者采访时表示，好想你正以红枣为基石，以创新为引擎，向全球讲述一个属于中 国的健康养生故事。 做自媒体、骑行健身、方言调侃……和父亲石聚彬相比，好想你总经理石训身上多了一种青年企业家特 有的"松弛感"。2024年末，35岁的石训从父亲石聚彬手里接棒总经理一职，正式开启"红枣2.0时代"。 面对新的挑战，石训已然心中有数。 石训坦言，出售百草味的决定带来战略收益，但也有业绩阵痛。"出售百草味的决策为我们换来了三样 宝贵的东西：资金实力、时间窗口和创新空间。预想中的是，我们获得了转型升级的资本，得以大力投 入研发，推出'红小派''黑金枣''清菲菲'等科技含量更高的深加工红枣产品，品牌定位也更加清晰。未预 想到的挑战是传统红枣消费场景收缩带来的主业压力，以及渠道优化过程中的业绩阵痛。"石训说。 传承信念：把握与老辈创业者间的变与不变 在石训的微信视频号中，镜头前的他幽默风趣，侃侃而谈。利用新媒体平台记录工作 ...

◎记者 伊妹儿 做自媒体、骑行健身、方言调侃……和父亲石聚彬相比，好想你总经理石训身上多了一种青年企业家特 有的"松弛感"。2024年末，35岁的石训从父亲石聚彬手里接棒总经理一职，正式开启"红枣2.0时代"。 面对新的挑战，石训已然心中有数。 从2020年出售百草味，到近期投资零食渠道，好想你虽然在产业布局上动作不断，但石训始终强调"坚 守主业初心"。"我们要围绕'红枣+健康锁鲜食品'的主业做精做强，实现基业长青的奋斗目标。"石训日 前在接受上海证券报记者采访时表示，好想你正以红枣为基石，以创新为引擎，向全球讲述一个属于中 国的健康养生故事。 传承信念：把握与老辈创业者间的变与不变 0 p 石训 面对这一趋势，好想你以"红枣+"为核心策略，不做盲目扩张，聚焦功能升级与人群细分，把一颗红枣 做到了极致。石训表示："我们围绕控糖、养气、暖身等需求推出红枣黄芪水、低GI黑金枣、红枣芝麻 丸等产品，并针对女性、职场人群及中老年人提供定制化解决方案。我们希望通过科技与品类创新，将 红枣深度融入现代健康生活，与消费者建立更稳固、更有温度的情感联结。" 坚守初心：围绕"红枣+"实现基业长青 近年来，好想你在产业投资上的动 ...

Core Viewpoint - The influx of star funds into the company appears to be more based on short-term arbitrage expectations rather than a long-term positive outlook on the company's fundamentals [5][2]. Financial Performance - In the first half of 2025, the company reported a revenue decline of 15.64% year-on-year to 689 million yuan, with a net profit loss of 20 million yuan, although the loss amount has narrowed compared to the same period last year [2]. - The company has experienced three consecutive years of mid-year losses, with revenue figures of 3 billion yuan, 1.28 billion yuan, and 1.4 billion yuan from 2020 to 2022, and net profits of 2.155 billion yuan, 62 million yuan, and a loss of 189 million yuan respectively [10]. Shareholder Dynamics - The second quarter saw the entry of five new public funds among the top ten shareholders, with three products from Xingquan Fund collectively holding 9.56% of the shares, approaching the threshold for a stake increase [4]. - The core driver for this interest is the company's 6.29% stake in the snack company "Mingming Hen Mang," which has filed for a listing on the Hong Kong Stock Exchange, potentially increasing the stake's value to between 2.5 billion and 3.5 billion yuan [4]. Business Challenges - The company's core business is facing significant challenges, with sales from "Mingming Hen Mang" dropping over 40% year-on-year to approximately 19.17 million yuan, and a decline in the number of distributors both within and outside Henan province [4][11]. - The company's red date products and health-preserving foods generated revenues of 500 million yuan and 2.6 million yuan respectively in the first half of the year, reflecting declines of 16.38% and 26.13% year-on-year [11]. Strategic Initiatives - In response to its challenges, the company is seeking transformation through investments and internal product innovation, establishing a growth committee to support strategic products like "Hong Xiaopai" and "Dou Fei Fei" [13][14]. - The company is also exploring cross-industry opportunities, having invested in "Mingming Hen Mang" and recently launched a series of craft beers with flavors like red dates and green tea [15][16]. Market Outlook - The company's ability to establish a sustainable second growth curve remains uncertain, as its core business faces pressure and new growth points are not yet clearly defined [17].

Group 1: Market Position and Strategy - The company holds a leading position in the high-end jujube market and aims to expand its product coverage through innovation and channel development [2] - The company targets a long-term strategic goal of achieving a market capitalization and revenue of 10 billion yuan, focusing on enhancing market share and optimizing supply chain efficiency [5][6] Group 2: Technological Innovation - The company prioritizes technological innovation as a core driver for high-quality development, focusing on three main areas: collaboration with academic institutions, building a digital platform for supply chain management, and upgrading production lines [3] - Recent innovations include the development of new products such as "Red Small Pie" and "Black Gold Jujube," which have gained consumer popularity [9][15] Group 3: Cost Reduction and Efficiency - In 2024, the company implemented cost reduction and efficiency measures, including digital collaboration for supply chain management and data-driven marketing strategies [3][4] - The company has established a standardized process that enhances resource utilization efficiency, contributing to sustainable business growth [4] Group 4: Financial Performance and Future Outlook - As of the first quarter of 2025, the company reported a significant increase in net profit, attributed to new product launches and expanded distribution channels [9] - The company is committed to providing stable returns to shareholders based on annual performance and strategic planning [4] Group 5: Industry Challenges and Opportunities - The health food industry is experiencing rapid growth, with opportunities arising from increased consumer demand for functional foods and new retail channels [8] - Challenges include competition from cross-industry entrants, fluctuations in raw material prices, and the need for continuous product innovation [8]