植物医生主板IPO获受理，剑指“A股美妆单品牌店第一股”

Core Viewpoint - The company, Plant Doctor, has officially received approval for its IPO application on the Shenzhen Stock Exchange, aiming to raise 998 million yuan, marking a significant step in its development and potentially revitalizing the beauty industry [1][8]. Group 1: Company Overview - Founded in 1994, Plant Doctor has over 30 years of experience in the Chinese cosmetics market, focusing on high-altitude plant skincare with a brand positioning of "High-altitude plants, pure beauty" [3]. - The company has established a strong differentiation in the competitive beauty market through deep exploration and innovative application of local plant resources, promoting "Chinese brand, Chinese ingredients" [3]. Group 2: Research and Development - Plant Doctor has built a robust R&D system, featuring an innovation structure of "one center, five bases," including a research center in collaboration with the Kunming Institute of Botany [3]. - As of May 31, 2025, the company holds 212 patents, with 59 being invention patents, showcasing its strong technical innovation capabilities [3]. - R&D investments from 2022 to 2024 are projected at 73.77 million yuan, 75.88 million yuan, and 66.33 million yuan, consistently representing over 3% of revenue, reflecting a commitment to technological innovation [3]. Group 3: Product Portfolio - Leveraging its strong R&D capabilities, Plant Doctor has developed a diverse product matrix that includes lotions, creams, serums, and masks, with notable products like "Dendrobium Tightening Anti-Wrinkle" and "Centella Asiatica Soothing Care" [5]. Group 4: Financial Performance - The company's financial data shows a steady increase in revenue from 2.12 billion yuan in 2022 to 2.16 billion yuan in 2024, with net profits rising from 158 million yuan to 243 million yuan during the same period, indicating a compound annual growth rate of 24% [6][7]. - Key financial metrics for 2024 include total assets of 1.82 billion yuan, equity attributable to shareholders of 1 billion yuan, and a net profit margin of 11.27% [7]. - The company has maintained a healthy cash flow, with net cash flow from operating activities reaching 381 million yuan in 2024 [7].