林小海挂帅周年之际，上海家化重回增长

Core Viewpoint - Shanghai Jahwa has returned to a growth trajectory after three consecutive years of declining performance, with revenue and net profit showing positive year-on-year growth in the first half of 2025 [1] Group 1: Financial Performance - In the first half of 2025, Shanghai Jahwa reported revenue of 3.478 billion yuan and a net profit attributable to shareholders of 266 million yuan, representing year-on-year growth of 4.75% and 11.66% respectively [1] - The second quarter saw significant growth, with revenue reaching 1.775 billion yuan, a year-on-year increase of over 25% [2] Group 2: Strategic Changes - Following years of declining revenue, Shanghai Jahwa appointed Lin Xiaohai, a former executive from Alibaba and Hema, as chairman in June of the previous year to implement reforms across channels, business, and organizational structure [2] - The company has focused on developing its online sales channels, particularly through Douyin, resulting in a year-on-year growth of over 30% in domestic online sales channels in the second quarter [2] Group 3: Market Dynamics - The importance of offline markets remains significant for Shanghai Jahwa, especially with the rise of instant retail competition from platforms like Meituan, Alibaba, and JD [3] - The company is enhancing its offline team's online operational capabilities and is exploring new retail formats such as flash sales and fresh e-commerce [3] - Shanghai Jahwa plans to develop customized products for instant retail platforms, including smaller packaging suitable for these sales channels [3] Group 4: Product Performance - The demand for products like mosquito repellent has surged due to factors such as the outbreak of the Zika virus and increased outdoor activities in summer, leading to a rise in sales of the portable Six God mosquito repellent egg [3] - Despite being launched only about six months ago, the mosquito repellent egg is expected to achieve sales close to 100 million yuan within the year, potentially becoming the first major product from Shanghai Jahwa to break the 100 million yuan mark in its launch year [4] Group 5: Future Outlook - The ability of Shanghai Jahwa to maintain its growth momentum in the second half of the year is under close observation [5]