新京报贝壳财经讯（记者阎侠）9月28日，记者注意到，在最近的一次投资者交流活动中，良品铺子回 应了公司上半年业绩亏损的原因。 良品铺子表示，2025年上半年，公司净利润表现下滑，主要系公司主动采取降价让利、淘汰低效门店、 投入线上流量、政府补助及理财收益同比下降等多重因素叠加影响。 良品铺子进一步解释称，报告期内，公司持续对产品进行优化和调整，部分产品的售价下调及产品结构 的调整影响了公司的毛利率。公司经营活动产生的现金流量净额增加，主要系销售规模下降及利润总额 下降，公司支付的各项税费同比减少，同时公司加强费用管控并对组织人员进行优化调整，支付的职工 薪酬及其他与营业活动有关的现金减少。 编辑 杨娟娟 校对 张彦君 ...

Core Viewpoint - The company, Liangpinpuzi, is facing significant operational challenges in the first half of the year, resulting in a substantial decline in revenue and a shift to net losses due to various factors including price reductions and a decrease in store count [1][2]. Financial Performance - For the first half of 2025, Liangpinpuzi reported revenue of 2.829 billion yuan, a year-on-year decrease of 27.21% [1]. - The net profit attributable to shareholders was -93.55 million yuan, marking a shift from profit to loss compared to the previous year [1]. - The adjusted net profit after excluding non-recurring items was -119 million yuan, down from 7.4633 million yuan in the same period last year [1]. Operational Challenges - The company has been optimizing and adjusting its product offerings, which included price reductions and changes in product structure, negatively impacting gross margins [1]. - The number of stores decreased to 2,445 by the end of the first half, a net reduction of 259 stores since the beginning of the year, with 123 closures in Q1 and 136 in Q2 [1]. Strategic Initiatives - In response to the challenging environment, the company is exploring optimization of its single-store model, controlling rental costs, and strategically optimizing underperforming stores [2]. - The company is also enhancing its product structure and variety while implementing a "one product, one chain" strategy to reduce overall costs [2]. Shareholder Dispute - A notable shareholder dispute between the controlling shareholder, Ningbo Hanyi, and Guangzhou Light Industry Group has drawn market attention, with the company indicating efforts to resolve the issue amicably [2].

Core Viewpoint - The company reported a significant decline in revenue and incurred a net loss in the first half of 2025, attributed to product optimization, price adjustments, and a reduction in store numbers [1] Financial Performance - The company achieved an operating revenue of 2.829 billion yuan, representing a year-on-year decrease of 27.21% [1] - The net profit attributable to the parent company was a loss of 93.5531 million yuan [1] Operational Changes - The decline in revenue was primarily due to ongoing product optimization and adjustments, including price reductions for certain products [1] - The company continued to optimize its store structure by actively eliminating inefficient stores, resulting in a decrease in the number of stores [1] - The company faced challenges with online revenue, which was impacted by a decline in platform traffic [1]