Michelle Group's net profit for the first half of the year was RMB 2.3 billion, -15%; revenue for the first half of the year was RMB 15.22 billion, +2.3%; number of branches was 63987, +21%; gross margin of product sales was 30.4%; sales and distribution expenses were RMB 1.12 billion, +23% year over year; R&D expenditure was RMB 40.4 million, -1.6% year over year.

Michelle Group's net profit for the first half of the year was RMB 2.3 billion, -15%; revenue for the first half of the year was RMB 15.22 billion, +2.3%; number of branches was 63987, +21%; gross margin of product sales was 30.4%; sales and distribution expenses were RMB 1.12 billion, +23% year over year; R&D expenditure was RMB 40.4 million, -1.6% year over year.