Group 1 - The company,汤臣倍健, emphasizes its commitment to a differentiated strategy in the global market [1] - The company focuses on scientifically selecting high-quality raw materials and developing innovative products with proprietary intellectual property [1] - The company aims to continuously enhance its product technology and maintain a competitive advantage through differentiation [1]

Core Viewpoint - The company reported that its online sales channels are significantly diversified, with Douyin accounting for approximately 20% and Tmall and JD.com together making up about 60% of total online sales [1] Group 1: Revenue Breakdown - The main brand contributes over 50% to the company's total revenue [1] - The revenue from Jianlidu and Lifespace each exceeds 10% [1]

证券日报网12月9日讯汤臣倍健（300146）在12月9日回答调研者提问时表示，公司SKU较多，各产品间 复购率存在差异。今年主品牌线上推出的几大新品在拉动高消费人群增量方面表现较为亮眼。 ...

证券日报网12月9日讯汤臣倍健（300146）在12月9日回答调研者提问时表示，公司经销商数量近年来减 少的原因：主要是因为业务调整、经销商整合优化所致。鉴于公司持续探索新渠道、新品牌和新平台， 未来经销商的持续优化还是会存在。 ...

证券日报网12月9日讯汤臣倍健（300146）在12月9日回答调研者提问时表示，药店渠道的专业服务能力 是其他渠道不可替代的，公司将持续夯实产品力，通过加快药店全链路DDI数字化基建建设、推行新商 业配送模式等持续强化精细化运营能力和服务能力，夯实线下发展优势。 ...

证券日报网12月9日讯汤臣倍健（300146）在12月9日回答调研者提问时表示，山姆近年来增长较好，后 续公司会积极加强与相关高潜力商超连锁的合作，共同拓展线下的增长机会。 ...

（编辑 任世碧） 证券日报网12月9日讯 汤臣倍健在12月9日回答调研者提问时表示，今年，公司持续推动数字化战略项 目落地，强化数字化基建，提升销售管理、数据分析等系统能力；成立30周年专项工作小组，常态化推 动重要经营和管理质量强相关问题的解决及机制落实；持续优化组织架构，提升各业务线条精细化管理 能力，支持公司长期健康发展。 ...

Core Viewpoint - Douyin has become the largest online sales platform in the VDS industry and continues to maintain rapid growth, while Tmall and JD still hold significant market shares [1] Group 1: Company Strategy - The company will continue to optimize its operational strategies and enhance social media penetration [1] - It aims to drive iteration and upgrade of major product categories based on consumer demands and preferences across different channels [1] - The company plans to optimize target demographics and brand assets to continuously improve online operational efficiency [1] Group 2: Market Trends - Cross-border e-commerce is experiencing good growth [1] - The company seeks to find incremental growth opportunities on Douyin and in cross-border markets [1]

（编辑 任世碧） 证券日报网12月9日讯 汤臣倍健在12月9日回答调研者提问时表示，当前消费需求呈现日益多元化和个 性化的趋势，对产品的迭代需求也在增加，未来公司将围绕主要核心品类、结合不同渠道的需求特性进 行产品研发创新，为消费者提供更加多样化的产品选择。 ...

Group 1: Product Development and Market Strategy - The company plans to innovate product development based on diverse consumer demands and channel characteristics, focusing on core categories [2] - The pharmacy channel's professional service capabilities are irreplaceable, and the company aims to enhance operational capabilities through digital infrastructure and new delivery models [2] - The company will strengthen partnerships with high-potential supermarket chains to explore offline growth opportunities [2] Group 2: Online Sales and Revenue Distribution - Douyin accounts for approximately 20% of online sales, while Tmall and JD.com together account for about 60% [3] - The main brand contributes over 50% of total revenue, with Jianliduo and Lifespace each accounting for over 10% [3] - The company has seen significant repurchase rates for new SKUs launched online, particularly among high-consumption demographics [3] Group 3: Distributor Management and Market Position - The reduction in the number of distributors is attributed to business adjustments and optimization efforts [3] - The company is focused on long-term quality development and enhancing investor returns through stable dividend policies and share buybacks, with cumulative cash dividends exceeding 70% of net profit since listing [3] Group 4: Financial Performance Insights - The company's net profit in the fourth quarter is typically lower due to sales expense timing, bonus accruals, and expense settlements [3] - Ongoing digital strategy projects are aimed at improving sales management and data analysis capabilities, alongside organizational structure optimization for better management quality [3]