Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 1.353 billion CNY, a decrease of 1.95% compared to the same period last year [2] - Revenue from headphone products was 0.93 billion CNY, down 10.85% year-on-year [2] - Revenue from speaker products reached 0.508 billion CNY, an increase of 17.40% year-on-year [2] - Gross profit margin was 40.36%, remaining stable year-on-year [2] - Domestic sales revenue decreased by 10.43% to 0.593 billion CNY, while export revenue increased by 14.30% to 0.310 billion CNY [2] Group 2: Product Development and Innovation - The company launched several notable new products in the first half of 2025, including: - TWS X1 Evo headphones weighing only 3.8g [3] - Lolli ANC semi-in-ear active noise-canceling headphones with upgraded algorithms [3] - Lolli Pro 5 headphones featuring a coaxial dual dynamic driver with -48dB noise cancellation [3] - LolliClip AI open-type active noise-canceling ear clips with advanced AI integration [4] - The company is focusing on the rapidly growing open-ear headphone market, with over ten models launched and plans for continued investment in various product forms and price ranges [5] Group 3: Market Strategy and Global Expansion - The company is enhancing its overseas operations and expanding international e-commerce channels, resulting in rapid growth in export business [3] - A dual-line endorsement strategy was implemented in 2025, partnering with popular local celebrities in Thailand and Japan to effectively reach core Asian markets [5] - The company is committed to maintaining compliance with regulations during investor communications, ensuring no undisclosed significant information was leaked [5]