Core Viewpoint - The company is actively addressing investor concerns regarding potential conflicts of interest and brand confusion with its major shareholder, Meifeng Group, while emphasizing its independent operational capabilities and brand management strategies. Group 1: Stock Performance - As of January 9, 2026, Sichuan Meifeng (000731) closed at 6.71 yuan, up 0.45%, with a turnover rate of 1.2%, trading volume of 66,000 hands, and a transaction amount of 44.3258 million yuan [1]. Group 2: Corporate Governance and Brand Management - The company has established a comprehensive brand management system to prevent market confusion and ensure distinct brand recognition, including legally protected trademarks and logos for its main products [2]. - The company is committed to optimizing its brand management strategy over the long term to provide clear value to customers in various market segments [2]. - The company maintains an independent procurement, production, and sales system, ensuring that related party transactions adhere to market fairness principles, thus protecting shareholder interests [2]. Group 3: Business Operations and Future Plans - The company anticipates a significant increase in its LNG/CNG processing business, projecting approximately 120 million yuan in revenue for 2026, which represents a notable growth compared to 2025 [3][4]. - The expected increase in procurement from related parties, specifically Sinopec, is attributed to new business needs rather than shareholder interests, with an estimated procurement amount of 340 million yuan for 2026 compared to 30 million yuan in 2025 [4]. - The company is focused on enhancing its market value management and will announce any relevant plans in due course [4]. Group 4: Investor Engagement - The company values investor feedback and actively considers suggestions that can enhance its operations and strategies [5]. - The company has no current plans for mergers or acquisitions involving Meifeng Group, but will disclose any future developments as required [5].

Financial Performance - The total operating revenue for the first half of 2025 was CNY 889,562,105.55, an increase from CNY 851,310,393.35 in the same period of 2024, reflecting a growth of approximately 4.5% [4] - The total operating costs rose to CNY 854,042,747.91 from CNY 807,609,281.18, indicating an increase of about 5.7% [4] - The net profit for the first half of 2025 was CNY 25,309,202.01, down from CNY 33,409,091.02 in the previous year, representing a decline of approximately 24.2% [4] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,923,975,305.64, a decrease from CNY 1,957,448,719.76 at the beginning of the period [2][3] - Current assets totaled CNY 505,164,172.16, down from CNY 519,008,826.63, showing a reduction of about 2.7% [2] - Total liabilities decreased to CNY 964,112,629.89 from CNY 1,023,791,469.87, a decline of approximately 5.8% [2] Cash Flow - The net cash flow from operating activities was CNY 38,078,904.35, down from CNY 62,337,775.10 in the first half of 2024, indicating a decrease of about 39% [5] - Cash flow from investing activities showed a net outflow of CNY 24,787,217.62, compared to a net outflow of CNY 26,217,996.20 in the previous year [6] - Cash flow from financing activities resulted in a net outflow of CNY 29,908,209.81, down from CNY 67,853,665.79 in the same period of 2024 [6] Equity - Total equity increased to CNY 959,862,675.75 from CNY 933,657,249.89, reflecting a growth of approximately 2.8% [2][3] - The company's retained earnings showed a slight improvement, with an unallocated profit of CNY -142,591,173.39 compared to CNY -167,298,554.14 in the previous year [2][3]