Core Viewpoint - Company is experiencing a turning point in its main business operations, with management raising the annual guidance due to significant improvements in Q2 performance, both domestically and internationally [2] Financial Performance - In Q2, the company achieved revenue of 4.966 billion, a year-on-year increase of 23.1%, exceeding the previous guidance of 18%-21% [2] - Operating profit reached 836 million, up 11.3% year-on-year, while adjusted net profit was 692 million, reflecting a 10.6% increase, with an adjusted net profit margin of 13.9% [2] - Management has raised the full-year revenue growth forecast from 22.8% to 25% [2] Domestic Market Strategy - Domestic revenue for the brand in Q2 was 2.62 billion, a year-on-year increase of 13.6%, with same-store sales turning positive [3] - The company opened 30 new stores in Q2, reversing the previous trend of net store closures [3] - Same-store growth is driven by an increase in average transaction value, despite a slight decline in customer traffic [3] Growth Drivers - Key factors driving same-store growth include organizational improvements, product supply enhancements, and optimized holiday operations [4] - A "Chief Growth Officer" team has been established to streamline operations across various departments [4] International Expansion - Overseas revenue reached 1.94 billion, a year-on-year increase of 28.6%, with significant growth in North America and Europe [5] - The company plans to open over 500 new stores internationally this year, with a net increase of 189 stores in the first half [5] North America Market Strategy - The company focuses on large store formats in North America, with new stores expected to achieve 1.5 times the sales efficiency of older stores [6] - A cluster opening strategy is employed to enhance brand presence and marketing efficiency [6][7] TOPTOY Brand Performance - TOPTOY achieved revenue of 400 million in Q2, a year-on-year increase of 87%, with a net increase of 13 stores [8] - The brand aims to enhance sales contributions from proprietary brands and IPs, focusing on markets with high potential [8] Store Format and IP Strategy - The company continues to implement a large store strategy, with significant investments in MINISOLAND and flagship stores [9] - The IP strategy has evolved to include both proprietary and licensed IPs, with plans to launch self-owned IP products in overseas markets [10]