IMEIK(SZ:300896) Mei Ri Jing Ji Xin Wen·2025-08-19 05:07Core Viewpoint - The company Aimeike reported a decline in revenue and net profit for the first half of the year, attributed primarily to a significant acquisition of the Korean company REGEN, which is expected to impact short-term performance but aims for long-term growth in international markets [1][4][9]. Financial Performance - In the first half of the year, Aimeike achieved revenue of 1.299 billion yuan and a net profit of 791 million yuan, representing year-on-year declines of 21.59% and nearly 30% respectively [1]. - The acquisition of REGEN for approximately 1.386 billion yuan has led to a substantial cash outflow of 9.861 billion yuan in investment activities, nearly doubling year-on-year [4]. Product Performance - Despite the overall decline, the company’s high-margin products, such as the "Haitai" and "Ruhbai Tianzi," continue to support its performance, with gross margins for solution and gel injection products remaining high at 93.15% and 97.75% respectively [4][5]. - The "Haitai" series remains a leading product in the neck wrinkle repair market, maintaining a strong market presence despite competition [5]. Market Strategy - Aimeike is focusing on international expansion to avoid domestic market saturation and profit erosion, as indicated by its acquisition of REGEN [3][9]. - The company has established a robust B2B network with over 7,000 beauty institutions, enhancing its market penetration and customer loyalty [6][7]. Future Outlook - Aimeike's product pipeline is promising, with three major products currently in the review stage for market approval, including a high-end botulinum toxin product expected to capture a significant share of the domestic market [8]. - The domestic botulinum toxin market is projected to grow at a compound annual growth rate of over 15% from 2025 to 2030, indicating strong future demand [8].