Core Viewpoint - Harbin Fulejia Technology Co., Ltd. (301371.SZ) has delivered a stable and impressive 2024 annual report amidst a challenging consumer environment in the cosmetics industry, showcasing systematic optimization in product strategy, R&D layout, and sales structure [1] Group 1: Business Performance - In 2024, the company achieved operating revenue of 2.017 billion yuan, a year-on-year increase of 4.32%, with medical device revenue at 853 million yuan, accounting for 42.28%, and cosmetic revenue at 1.164 billion yuan, growing by 7.49% and making up 57.72% [1] - The dual-driven strategy of "medical devices + functional skincare" is highlighted, with a balanced development pattern between the two sectors [1] Group 2: Product Development - The company launched over ten new functional skincare products, including "lactic acid oil-control mask" and "blue copper peptide soothing series," addressing various skincare needs such as whitening and anti-wrinkle [2] - The average price of self-developed skincare products in 2024 is approximately 34.82 yuan, aligning with the trend of consumer upgrading while emphasizing scientific ingredients and efficacy [2] Group 3: R&D and Innovation - R&D investment reached 34.82 million yuan in 2024, a year-on-year increase of 6.04%, with the Shanghai R&D center officially operational, enhancing the company's R&D capabilities [2] - The company has obtained 29 patent authorizations, including 7 invention patents, and is advancing clinical trials for III-class medical devices, indicating a strategic focus on the medical aesthetics sector [3] Group 4: Market Strategy - The company employs a "hit products + long-term iteration" strategy, with several products achieving over 100 million yuan in sales, such as "medical sodium hyaluronate repair patch" and "niacinamide whitening mask," maintaining stable growth [4] - The establishment of a sensory evaluation laboratory and collaboration with third-party research institutions for efficacy validation enhances brand credibility and consumer experience [4] Group 5: Long-term Vision - The company emphasizes a long-term development path centered on products and supported by technology, avoiding short-term explosive growth in favor of sustainable value creation [5] - As the demand for effective skincare becomes more scientific, segmented, and personalized, the company is evolving from a "hit product" model to a "brand cluster + technology platform" approach, indicating potential for greater growth [6]
敷尔佳年报：研发创新助推产品升级，深化护肤布局