Core Viewpoint - The company reported a significant reduction in net loss for the first half of 2025, demonstrating resilience and potential for growth despite industry challenges [1] Group 1: Financial Performance - The company achieved operating revenue of 420 million yuan in the first half of 2025, with a net loss attributable to shareholders of 27.67 million yuan, marking a 68.5% reduction in loss compared to the same period last year [1] - The overall gross profit margin improved significantly compared to the previous year, supporting the company's efforts to reduce losses [1] Group 2: Operational Strategy - The company employs a full industry chain model, integrating self-owned pastures, research and development, and market marketing to enhance control over various segments [1] - The company has implemented "scale cost reduction + refined efficiency improvement" strategies to enhance profitability, including centralized procurement to lower feed costs and automation to improve production efficiency [1] Group 3: Production and Quality - Despite a slight decrease in herd size, the company achieved a fresh milk output of approximately 55,600 tons, reflecting a 2.3% year-on-year increase due to improved breeding efficiency [2] - Several of the company's pastures received certifications such as "National Quality Milk Project Demonstration Pasture," reinforcing its leading position in quality milk source construction [2] Group 4: Innovation and Branding - The company invested 7.06 million yuan in research and development, focusing on health-oriented, functional, and specialty products, which cater to consumer demands for "additive-free" and "functional" offerings [2] - The company has enhanced brand recognition through innovative marketing strategies, including collaborations with cultural institutions and participation in events [2] Group 5: Market Expansion - The company has established a comprehensive online and offline channel network, improving product delivery efficiency and customer loyalty [3] - The company has made significant strides in international markets, successfully entering Hong Kong and Southeast Asia, with the first batch of 100 tons of pure milk shipped to Southeast Asia in May [3]