Shanghai Jahwa(SH:600315) 2 1 Shi Ji Jing Ji Bao Dao·2025-06-29 14:47Core Viewpoint - Shanghai Jahwa's performance in 2024 is disappointing, with revenue of 5.679 billion yuan, a year-on-year decline of 13.93%, and a net loss of 833 million yuan [2] Group 1: Financial Performance - In 2024, Shanghai Jahwa reported a revenue of 5.679 billion yuan, down 13.93% year-on-year, and a net profit of -833 million yuan [2] - The beauty business generated revenue of 1.05 billion yuan, down 29.81% year-on-year, while the innovation business reported 830 million yuan, down 19.38% [4] - The overseas business, represented by汤美星, achieved revenue of 1.415 billion yuan, down 11.43% year-on-year, and the personal care business reported 2.379 billion yuan, a slight decline of 3.42% [4] Group 2: Strategic Focus - The company is implementing a "four focuses" strategy: focusing on core brands, brand building, online presence, and efficiency [2] - Core brands are categorized into three tiers, with significant resource allocation to the first tier brands, such as Six God and Yuze [2] - The company plans to launch new product lines for the second-tier brands, Baicaoji and Meijiajing, in August-September [3][6] Group 3: Product Development - New products were introduced at the shareholder meeting, including an upgraded mosquito repellent and a refreshing scented shower gel under the Six God brand [5] - Yuze brand also launched a second-generation barrier repair cream and a large molecule sunscreen product [6] Group 4: Online Strategy - The company is enhancing its online strategy by focusing on self-operated live streaming and transitioning from an online distributor model to a self-operated model [3][8] - During the 618 shopping festival, major brands achieved double-digit growth in online sales, with Six God and Baicaoji seeing GMV growth of approximately 30% and 50%, respectively [7] Group 5: Operational Efficiency - The company has reduced its SKU count from over 10,000 to around 3,000, aiming for a 40% improvement in product efficiency [6] - Approximately 500 positions were eliminated, primarily in offline channels and back-office departments, with an additional 10%-15% reduction planned for middle and back-office roles [6] Group 6: Future Goals - Shanghai Jahwa aims for a double-digit revenue growth in 2025, with a focus on core brand investment and enhancing online operational capabilities [10]