Financial Performance - Revenue decreased by 5.8% YoY to RMB 12.30 billion[16, 20] - Gross profit margin slightly decreased by 0.1 percentage points YoY to 41.0%[16] - Profit attributable to equity holders decreased by 9.7% YoY, with profit margin declining by 0.3 percentage points to 6.4%[16] - Total SG&A expense ratio slightly increased by 0.1 percentage points YoY, while total SG&A expense decreased by 5.5% YoY[16, 29] - Interim dividend payout ratio was 102.2%, with cumulative dividends distribution of RMB 14.64 billion since listed in 2019, and an aggregate payout ratio of 107.3%[16] Operational Efficiency - Offline same-store traffic decreased by double-digit YoY, while online retail sales registered double-digit growth YoY[16] - Number of employees decreased by 16.1% YoY to 24,273[29] - Total rental expense decreased by 12.1% YoY, with rental expense ratio decreased by 0.8 percentage points[29] - Capital expenditure decreased by 36.0% YoY[50] Cash Flow and Capital - Net cash generated from operating activities was RMB 1.35 billion, 1.7 times of net profit[16] - Cash and cash equivalents of RMB 2.54 billion and net cash position of RMB 1.27 billion[16] - Free cash flow was RMB 1.22 billion, representing 34% of beginning cash balance[38] Retail Network - Number of directly-operated retail stores decreased by 19.4% YoY to 4,688 stores[50]