证券代码：603630 证券简称：拉芳家化 公告编号：2025 - 047 拉芳家化股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 二、说明会召开的时间、地点 会议召开时间：2025 年 11 月 17 日(星期一)下午 16:00-17:00 会议召开时间：2025年11月17日(星期一)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com） 会议召开方式：上证路演中心网络互动 投资者可于2025年11月6日（星期四）至2025年11月12日（星期三）下午16:00前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱：laf@vip.126.com 进行提问。公司将在2025年第三季度业绩说明会（以下简称"业绩说明会"）上对 投资者普遍关注的问题进行回答。 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com） 会议召开方式：上证路演中心网络互动 三、参加人员 本公司董事会及董事会全体成员保证公告内容不存在任何虚假记载、误导性陈述或重大 遗漏，并对其 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥216,922,250.73, a decrease of 10.08% compared to the same period last year[5] - The total profit for the quarter was ¥7,108,429.72, down 63.26% year-on-year[5] - The net profit attributable to shareholders was ¥6,196,916.89, reflecting a decline of 64.50% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥1,988,106.30, a significant drop of 87.09% year-on-year[5] - The basic earnings per share for the quarter was ¥0.03, a decrease of 57.14% compared to the same period last year[6] - The diluted earnings per share also stood at ¥0.03, reflecting a 57.14% decline year-on-year[6] - Total operating revenue for the first three quarters of 2025 was CNY 626,966,606.51, a decrease of 6.35% compared to CNY 669,588,336.38 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was CNY 12,707,008.18, a significant decline of 76.6% from CNY 54,342,183.87 in 2024[22] - Earnings per share for the first three quarters of 2025 were CNY 0.06, compared to CNY 0.24 in the same period of 2024, indicating a 75% decrease[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,173,928,735.90, an increase of 1.28% from the end of the previous year[6] - As of September 30, 2025, the company's total current assets amounted to approximately CNY 1.27 billion, a decrease from CNY 1.39 billion at the end of 2024, representing a decline of about 9%[16] - The company's cash and cash equivalents were reported at CNY 1.01 billion, down from CNY 1.15 billion, indicating a decrease of approximately 12.4%[16] - The total inventory decreased to CNY 101 million from CNY 109.9 million, reflecting a reduction of about 8%[17] - Long-term equity investments increased to CNY 266.3 million from CNY 202 million, showing a growth of approximately 31.9%[17] - Total assets as of the end of the reporting period were CNY 2,173,928,735.90, slightly up from CNY 2,146,427,354.64 in the previous year[19] - Total liabilities increased to CNY 247,435,127.81, compared to CNY 211,973,811.75 in 2024, marking a rise of 16.73%[19] - The company's total equity decreased to CNY 1,926,493,608.09 from CNY 1,934,453,542.89 in the previous year[19] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥80,797,964.74, down 56.76% compared to the previous year[6] - Operating cash inflow for the first three quarters of 2025 was CNY 747,194,927.16, a decrease of 10.7% compared to CNY 837,082,189.04 in the same period of 2024[24] - Net cash flow from operating activities was CNY 80,797,964.74, down 56.7% from CNY 186,874,047.72 year-over-year[25] - Cash outflow from investment activities totaled CNY 250,611,065.00, slightly down from CNY 252,220,682.85 in the previous year[25] - Net cash flow from investment activities was -CNY 201,626,952.70, compared to -CNY 179,186,857.37 in the same period last year[25] - Cash outflow from financing activities was CNY 23,414,820.02, significantly reduced from CNY 79,029,208.65 in the previous year[25] - The ending cash and cash equivalents balance for the first three quarters of 2025 was CNY 1,010,382,308.93, down from CNY 1,167,109,447.30 in 2024[25] - Total cash inflow from operating activities was impacted by a decrease in cash received from sales, which fell to CNY 736,693,268.13 from CNY 813,451,850.72[24] - The company reported a cash outflow of CNY 200,447,180.65 related to other operating activities, an increase from CNY 185,689,078.99 in the previous year[25] - The company did not report any cash inflow from financing activities, maintaining a consistent trend from the previous year[25] Shareholder Information - The company completed a share repurchase plan, acquiring a total of 2,401,300 shares, which represents about 1.07% of the total shares outstanding[13] - The number of shares held by the top 10 shareholders includes significant stakes from Wu Guoqian (30.86%) and Australia Wanda International Co., Ltd. (18.79%) among others[12] - The company has not reported any changes in the shareholding structure due to securities lending activities during the reporting period[14] - The company is currently in the process of adjusting its stock option incentive plan, with announcements regarding changes expected in August 2025[14] Operational Insights - The company attributed the decline in profits to increased investments in brand building and e-commerce marketing expenses[9] - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[14] - Research and development expenses for the first three quarters of 2025 were CNY 22,834,347.93, down 21.66% from CNY 29,120,118.31 in 2024[22] - Sales expenses increased to CNY 225,600,798.35 in 2025, up 13.87% from CNY 198,129,940.84 in 2024[22] Accounting Standards - The company is not applying new accounting standards for the current reporting period[26]

Market Overview - The cosmetics sector increased by 0.77% on October 29, with Marubi Biological leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Individual Stock Performance - Marubi Biological (603983) closed at 36.66, up 3.74% with a trading volume of 41,500 shares and a turnover of 150 million yuan [1] - Babi Co. (920123) closed at 18.06, up 3.56% with a trading volume of 23,700 shares and a turnover of 41.72 million yuan [1] - Shanghai Jahwa (600315) closed at 25.46, up 2.74% with a trading volume of 154,500 shares and a turnover of 392 million yuan [1] - Betaini (300957) closed at 45.83, up 0.57% with a trading volume of 33,400 shares and a turnover of 152 million yuan [1] - Other notable performances include Proya (603605) at 76.87, up 0.18%, and Water Sheep Co. (300740) at 22.14, up 0.09% [1] Fund Flow Analysis - The cosmetics sector experienced a net outflow of 89.37 million yuan from institutional investors and 51.47 million yuan from retail investors, while individual investors saw a net inflow of 141 million yuan [2] - The detailed fund flow for individual stocks shows that Shanghai Jahwa had a net outflow of 32.36 million yuan from institutional investors [3] - Marubi Biological had a net inflow of 4.95 million yuan from institutional investors, but a net outflow of 8.77 million yuan from retail investors [3]

Core Viewpoint - The launch of Lafang's new product, the Perfumed Hair Oil, represents a significant innovation in the hair care market, addressing common issues with traditional oils and enhancing consumer experience through advanced technology and fragrance [1][3][11] Product Innovation - Lafang's Perfumed Hair Oil utilizes proprietary "Intelligent Peptide Hair Core Repair Technology" and features a micron-level atomization pump, allowing for quick absorption and even coverage, thus overcoming the heaviness and stickiness of traditional oils [3][4] - The product claims to improve hair glossiness by 161% and smoothness by 220% after just one use, showcasing its effective repair capabilities [3][11] Market Trends - The hair care market is experiencing unprecedented opportunities driven by heightened health awareness and the "beauty economy," with hair oils becoming popular for their nourishing and repairing properties [3][4] - Consumer preferences are shifting towards products that offer emotional and sensory experiences, with fragrance becoming a key differentiator in the market [4][6] Brand Positioning - Lafang aims to establish itself as the "first brand for resilient hair" by building a product matrix focused on strong repair capabilities, reinforcing its brand image as a leader in the domestic hair care sector [7][11] - The brand's commitment to research and development over nearly 30 years has positioned it to redefine the standards of domestic hair care products, moving beyond basic functionality to high-end, effective, and sensory-rich offerings [11] Future Outlook - The introduction of the Perfumed Hair Oil marks a milestone in Lafang's journey towards high-end, functional, and sensory-focused hair care products, setting a benchmark for domestic brands and paving the way for future innovations [11]

Core Insights - The cosmetics sector experienced a slight decline of 0.14% on October 23, with Qingdao Jinhao leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Market Performance - Notable gainers in the cosmetics sector included: - Jiahen Jiahuan (Code: 300955) with a closing price of 32.01, up 4.47% and a trading volume of 43,000 shares, totaling 135 million yuan [1] - Lafang Jiahuan (Code: 603630) closed at 22.89, up 1.51% with a trading volume of 42,000 shares, totaling approximately 96.11 million yuan [1] - Qingdao Jinhao (Code: 002094) was the biggest loser, closing at 7.72, down 2.03% with a trading volume of 311,400 shares, totaling 240 million yuan [2] Capital Flow - The cosmetics sector saw a net outflow of 101 million yuan from institutional investors, while retail investors contributed a net inflow of 126 million yuan [2] - Specific stock capital flows included: - Lafang Jiahuan had a net inflow of 13.29 million yuan from institutional investors, while retail investors had a net outflow of 9.22 million yuan [3] - Jiahen Jiahuan experienced a net inflow of 4.58 million yuan from institutional investors, with a net outflow of 9.08 million yuan from retail investors [3]

Core Insights - The cosmetics sector experienced a decline of 0.72% on October 22, with LaFang JiaHua leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Market Performance - Qingdao Jinwang (002094) saw a closing price of 7.88, with an increase of 2.74% and a trading volume of 561,300 shares, amounting to 450 million yuan [1] - Other notable performers included Kesheng Co. (300856) with a closing price of 13.88, up 1.46%, and Yusong Co. (300132) at 6.52, up 1.40% [1] - LaFang JiaHua (603630) closed at 22.55, down 1.83%, with a trading volume of 39,800 shares and a turnover of 90.79 million yuan [2] Capital Flow - The cosmetics sector experienced a net outflow of 12.29 million yuan from institutional investors and 12.90 million yuan from retail investors, while there was a net inflow of 25.19 million yuan from individual investors [2] - The capital flow for individual stocks showed that Qingdao Jinwang had a net inflow of 30.74 million yuan from institutional investors, while LaFang JiaHua had a net outflow of 7.07 million yuan [3] - Other stocks like Kesheng Co. and Yusong Co. also experienced varying degrees of net inflow and outflow from different investor categories [3]

Core Insights - The cosmetics sector experienced a slight decline of 0.03% on October 21, with Lafang Jiahua leading the drop [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Group 1: Stock Performance - Jinsheng New Material (300849) saw a significant increase of 7.74%, closing at 14.76 with a trading volume of 103,000 shares and a turnover of 148 million yuan [1] - Jiaheng Jiahua (300955) rose by 4.90%, closing at 30.62 with a trading volume of 45,700 shares and a turnover of 137 million yuan [1] - Qing Song Co. (300132) increased by 3.71%, closing at 6.43 with a trading volume of 266,600 shares and a turnover of 170 million yuan [1] - Lafang Jiahua (603630) declined by 2.67%, closing at 22.97 with a trading volume of 61,500 shares and a turnover of 141 million yuan [2] - Shanghai Jahwa (600315) fell by 1.85%, closing at 27.09 with a trading volume of 96,400 shares and a turnover of 262 million yuan [2] Group 2: Capital Flow - The cosmetics sector experienced a net outflow of 11.49 million yuan from institutional investors, while retail investors saw a net inflow of 19.36 million yuan [2] - The main capital inflow was observed in brands like Banlaya (603605) with a net inflow of 10.38 million yuan, while Jinsheng New Material (300849) had a net outflow of 11.78 million yuan [3] - Retail investors showed a significant net inflow in Furuida (600223) with 7.23 million yuan, while the outflow from institutional investors was 3.19 million yuan [3]

Core Points - The cosmetics sector experienced a decline of 2.36% on October 17, with Lafang Home leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Jinsheng New Material (300849) closed at 13.88, up 3.89% with a trading volume of 64,700 shares and a transaction value of 89.115 million yuan [1] - Furuida (600223) remained unchanged at 7.83, with a trading volume of 112,800 shares [1] - Marubi Biological (603983) closed at 37.81, down 0.13% with a trading volume of 11,900 shares [1] - Qingsong Co. (300132) closed at 6.14, down 1.44% with a trading volume of 145,600 shares [1] - XD+R Caiya (603605) closed at 78.02, down 1.50% with a trading volume of 48,900 shares and a transaction value of 383 million yuan [1] - Other notable declines include: - Buxiaoxing (300886) down 1.60% to 28.22 [1] - Fulejia (301371) down 1.74% to 24.30 [1] - Qingdao Kingway (002094) down 2.19% to 7.61 with a transaction value of 133 million yuan [1] - Zhiwei Co. (920123) down 2.55% to 17.59 [1] - Kesi Co. (300856) down 2.58% to 65 [1] Fund Flow - The cosmetics sector saw a net outflow of 188 million yuan from main funds, while retail investors contributed a net inflow of 215 million yuan [3] - Speculative funds experienced a net outflow of 27.0841 million yuan [3]

Group 1 - The cosmetics sector experienced a significant increase of 3.35% on October 15, with Shuiyang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] - Major stocks in the cosmetics sector showed notable price increases, with Shuiyang Co., Ltd. rising by 8.45% to a closing price of 25.03 [1] Group 2 - The net inflow of main funds in the cosmetics sector was 219 million yuan, while retail investors saw a net outflow of 222 million yuan [1] - Shanghai Jahwa's main fund net inflow was 85.02 million yuan, with a retail net outflow of 66.90 million yuan [2] - Shuiyang Co., Ltd. had a main fund net inflow of 46.76 million yuan, but a retail net outflow of 69.20 million yuan [2]

Core Viewpoint - Lafang Home Products Co., Ltd. experienced a 5.4% increase in stock price, reaching 25.98 CNY per share, with a trading volume of 186 million CNY and a turnover rate of 3.30%, resulting in a total market capitalization of 5.851 billion CNY [1] Company Overview - Lafang Home Products was established on December 14, 2001, and went public on March 13, 2017. The company is located in the Longhu District of Shantou City, Guangdong Province [1] - The main business activities include the research, production, and sales of personal care products, which are categorized into three segments: hair care (87.57%), other products (9.52%), and soap (2.84%) [1] Fund Holdings - Southern Fund's Southern Yihe Flexible Allocation Mixed Fund (002293) holds a significant position in Lafang Home Products, with 69,800 shares, accounting for 3.13% of the fund's net value, making it the third-largest holding [2] - The fund has generated an estimated floating profit of approximately 92,800 CNY from this investment [2] Fund Performance - The Southern Yihe Flexible Allocation Mixed Fund was established on January 11, 2016, with a current asset size of 49.963 million CNY. Year-to-date returns stand at 18.83%, ranking 4,297 out of 8,161 in its category, while the one-year return is 24.3%, ranking 3,202 out of 8,015 [2] - Since its inception, the fund has achieved a total return of 84.73% [2]