NOPOSION(SZ:002215)2025-11-26 09:56Group 1: Company Financing and Management - The company initiated a private placement to support the long-term development of the blueberry industry, with 85% of the funds allocated for the construction of blueberry bases and research centers, demonstrating a commitment to its core business [1] - The actual controller's share reduction was aimed at clearing historical stock pledge loans, allowing for a more focused management approach [2] Group 2: Operational Performance and Market Trends - The new production season started smoothly, with shipment progress meeting or slightly exceeding expectations, and overall average prices remaining stable [3] - The initial price fluctuations in November were influenced by a peak in imported blueberries and climate conditions affecting fruit taste, but these factors are diminishing, leading to improved quality and flavor [3] Group 3: Branding and Channel Development - The current production season is designated as the "Brand Year," focusing on the "Love Berry" main brand, ensuring high-quality output from production sources [4] - Collaborations with key customers like Hema have resulted in a significant year-on-year increase in supply volume [4] Group 4: Future Growth Drivers and Cost Control - Future growth will be driven by three factors: land expansion for capacity growth, efficiency improvements through aging trees and technology optimization, and continuous variety optimization [5] - Cost control measures include organizational adjustments and optimizing personnel efficiency, particularly targeting post-harvest costs and backend expenses [5] Group 5: Land Acquisition and R&D Center - The company faces increasing challenges in acquiring high-quality contiguous land in Yunnan but remains confident due to its long-standing industry practices and strong government-business relationships [5] - The "Small Berry International Research Center" will focus on breakthrough breeding research and improving production efficiency across the entire supply chain [5]