林清轩的精油护肤故事，需要继续向上走

Core Viewpoint - Lin Qingxuan has submitted an IPO application to the Hong Kong Stock Exchange, positioning itself in the high-end skincare market with a focus on facial essence oils and other skincare products. The company has achieved significant revenue growth and sales volume, but faces challenges in marketing and distribution strategies [1][2]. Group 1: Financial Performance - Lin Qingxuan's revenue has surpassed 1 billion yuan, with projections for 2024 reaching 1.21 billion yuan and a net profit of 187 million yuan, representing year-on-year growth of 50.27% and 121.06% respectively [1]. - The sales of the Camellia oil essence have exceeded 30 million bottles since its launch in 2014, contributing significantly to the company's revenue [5]. - The facial essence oil market has grown from 900 million yuan in 2019 to 5.3 billion yuan in 2024, with a compound annual growth rate of 42.8% [6]. Group 2: Marketing and Sales Strategy - Lin Qingxuan's marketing strategy has involved high promotional costs, with a sales expense ratio of 56.86% in 2024, which is nearly 10 percentage points higher than the industry median [9][10]. - The company has faced challenges in educating consumers about the benefits of oil-based skincare, leading to high initial marketing costs [9]. - Despite facing regulatory challenges, Lin Qingxuan continues to adopt bold marketing tactics, including controversial claims about product efficacy [12][14]. Group 3: Market Positioning - Lin Qingxuan is positioned as a high-end brand, ranking first among domestic high-end skincare brands in China for 2024 revenue, and is the only domestic brand among the top 15 high-end skincare brands [22]. - The pricing of Lin Qingxuan's products, such as the gold essence oil priced at 1,214 yuan for 50ml, is competitive with international brands like Chanel [22]. - The company has a significant presence in lower-tier cities, with 506 offline stores, which account for about 40% of its revenue [24]. Group 4: Future Growth and Challenges - Lin Qingxuan is expanding its presence in lower-tier cities, where consumer interest in high-end skincare products is growing [25]. - The company is actively recruiting agents to enhance its distribution in cosmetic stores, particularly in lower-tier cities [27]. - While online channels contributed nearly 60% of revenue in 2024, the company is increasingly focusing on offline channels to enhance consumer experience and reach [29].