Group 1 - The core viewpoint of the news is that 成泉资本 has conducted a research on the listed company 敷尔佳, highlighting its sales performance and strategic developments [1] - 敷尔佳's sales channel optimization and product pricing adjustments have shown significant progress, with a 86.68% quarter-on-quarter revenue growth in Q2 2025 [1] - Sales on platforms like Douyin and Tmall during the 6.18 shopping festival were optimistic and met expectations, while 京东 also experienced impressive growth through deeper collaborations and a wider product range [1] Group 2 - The overall trend of online advertising spending remains stable, with no significant changes observed [1] - The proportion of revenue from non-adhesive products is steadily increasing, indicating a richer product line [1] - The R&D team is in a growth phase, with plans for further improvement and expansion [1] Group 3 - The 重组三型人源化胶原蛋白冻干纤维 project has completed three rounds of injections and is currently in the data cleaning and report preparation stage [1] - The specific dividend arrangements will need to be monitored through the company's temporary announcements [1]
【私募调研记录】成泉资本调研敷尔佳