Core Viewpoint - The company is facing challenges in adapting to a market shift from growth to saturation, impacting its revenue and competitive strategy [3][8]. Financial Performance - For the first half of the year, the company reported total revenue of 4.61 billion yuan, a year-on-year decline of 2.58% [3]. - Despite the revenue drop, the company achieved a profit of 710 million yuan during the same period [5]. - The company has authorized management to utilize up to 6.5 billion yuan of idle funds for investment in financial products, with a total of 4.32 billion yuan invested over the past 24 months [5]. Market Strategy - The company is shifting its focus from high-end kitchen appliances to a multi-brand strategy to cover various market segments, including lower-tier markets [8][10]. - The new brand, "Mingqi," has generated revenue of 240 million yuan in the first half of the year, contributing a net profit of 4.21 million yuan [10]. - The company is also exploring overseas markets through a combination of self-built and acquisition strategies, although international revenue currently accounts for less than 1% of total income [10]. Operational Changes - The management team is adapting its channel operations in response to changes in the real estate market, moving away from reliance on real estate-driven sales [12][13]. - The company is expanding its workforce in marketing and e-commerce roles to enhance user engagement and product storytelling [14][16]. Research and Development - The company is increasing its investment in research and development, with R&D spending reaching 160 million yuan in the first half of the year, representing 3.4% of total revenue [22]. - A new AI research institute has been established, focusing on machine vision, voice interaction, and IoT technologies [23]. - The company aims to leverage AI technology to improve production efficiency, reduce costs, and enhance product quality [24].