NHD(002946)2025-04-25 10:12Group 1: Company Strategy and Performance - The company continues to deepen its "Fresh Cube Strategy," focusing on core product categories to enhance enterprise value and steadily implement its five-year strategic plan [1] - In 2024, the main business revenue is expected to remain stable, with a significant increase in net profit and a notable decrease in the asset-liability ratio [1] - Low-temperature fresh milk and low-temperature yogurt achieved mid-to-high single-digit growth in 2024, with low-temperature categories continuing to increase their market share [2] Group 2: Regional Growth and Market Opportunities - The East China region shows strong growth potential due to a higher proportion of low-temperature products and a favorable consumer mindset [3] - The company is actively expanding in the South and North China regions, focusing on product innovation and channel strategies to enhance market share [3] Group 3: Sales and Marketing Strategies - The company emphasizes the importance of new product development and promotion, particularly for core categories, to meet consumer demands for functionality and emotional value [4] - Direct-to-Consumer (DTC) channels are a core strategic focus, with efforts to enhance channel capabilities and user experience [4] Group 4: Financial Management and Future Plans - Sales expense rates are currently at a normal level, with plans for brand-building initiatives that balance profitability [4] - The company has a stable capital expenditure plan focused on technology improvements and equipment updates, with a strategy of "internal growth as primary, acquisitions as secondary" [4]