Lafang(SH:603630) Hua Xia Shi Bao·2025-05-21 22:13Core Viewpoint - The beauty and personal care sector is experiencing significant stock price increases, with companies like Lafang Jiahua reaching new highs, reflecting strong investor sentiment and competitive dynamics within the industry [2][3]. Company Overview - Lafang Jiahua primarily engages in the research, production, and sales of hair care, skin care, and makeup products, with key brands including "Lafang," "Yujie," and "Meiduosi" [4]. - In 2024, Lafang Jiahua reported total revenue of 88,871.66 million yuan, a year-on-year increase of 3.36%, while net profit decreased by 36.84% to 4,136.66 million yuan [4][5]. - The company's revenue from its main brands, "Lafang" and "Yujie," accounted for 88.57% of total revenue, with "Lafang" achieving a sales revenue of 64,161.92 million yuan, up 9.11% year-on-year [4]. Sales Channels - Lafang Jiahua's primary sales channel is still through distributors, generating 62,312.30 million yuan, which is 70.11% of total revenue, while e-commerce and other channels contributed 26,487.69 million yuan, or 29.80% [4]. - The company has implemented an omnichannel strategy, enhancing both online and offline sales efforts to boost brand visibility and market share [6]. Market Dynamics - The beauty and personal care industry is facing increased competition, with companies adapting to changing consumer preferences and market conditions [8]. - Lafang Jiahua noted that the industry is transitioning towards a consumer-centric model, emphasizing brand quality and consumer insights [8]. Recent Developments - Lafang Jiahua has partnered with the national diving team to enhance brand presence and product sales through live streaming events, resulting in significant sales growth [7]. - The company is focusing on upgrading its "Lafang" brand and launching new products that incorporate innovative technologies and local ingredients [7]. Competitor Insights - Other companies in the beauty and personal care sector, such as Jiega and Kelaibao, are also experiencing stock price increases and adapting their strategies to capture market share [2][10]. - Jiega's wet wipes segment accounted for approximately 90% of its revenue, while Kelaibao's adult incontinence products represented 51.72% of its total revenue [9][10].