Recent Events - The company will increase the basic delivery fee for its "Whale Selection Home Delivery" service by 1 yuan, charging 6 yuan per order from February 14 to February 21, 2026, with additional charges for overweight items. This operational strategy adjustment may impact the cost structure and customer experience of its online business [2] Company Structure and Governance - In 2025, the company revised its articles of association to abolish the supervisory board. Such governance structure adjustments typically indicate an optimization of the decision-making process, necessitating attention to changes in governance efficiency [3] Company Project Advancement - The company plans to renovate 40-60 stores annually and open 20-40 new stores over the next three years. Additionally, it closed 175 stores in the first three quarters of 2025, indicating an active phase of business adjustment and network optimization [4] Industry Resource Advantages - In December 2025, the company signed a strategic supply chain agreement with Changchun Ruixian Food Technology Co., Ltd., and held related specialty product exhibitions. This new supply chain collaboration may enhance its product strength [5] Brand Marketing Activities - The company recently launched activities such as the "Inviting Eating Festival" aimed at promoting the everyday sale of high-end ingredients. This aligns with the company's brand positioning of "Connecting You and Me," reflecting its ongoing efforts to return to retail fundamentals and enhance customer experience [6]