Core Viewpoint - The article highlights the strong performance and growth potential of the beauty company, Shiseido Holdings (上美股份), driven by a multi-brand strategy, innovative product development, and a comprehensive sales channel approach, amidst a rising trend of young consumers prioritizing experience and value in their purchasing decisions [1][2][11]. Financial Performance - In the first half of 2025, Shiseido Holdings reported total revenue of approximately 4.108 billion RMB, a year-on-year increase of 17.3% [2] - The net profit reached about 555.6 million RMB, reflecting a 34.7% increase compared to the previous year [2] - Gross profit was approximately 3.102 billion RMB, with a year-on-year growth of 15.8%, resulting in a gross margin of 75.5%, up 1.7 percentage points from the previous period [2] - Basic earnings per share for the first half of 2025 were 1.32 RMB, a 30.7% increase year-on-year [2] Multi-Brand Strategy - The company's strong performance is attributed to its deepening multi-brand strategy, with its main brand, Han Shu (韩束), achieving revenue of approximately 3.344 billion RMB, a 14.3% increase year-on-year [3] - Han Shu's star product, the Red Waist series, sold over 15 million units, establishing itself as a national skincare staple [3] - The new brand, Newpage (一页), showed remarkable growth with revenue of 397 million RMB, a 146.5% increase year-on-year, indicating its successful entry into the baby care market [5] Sales Channel Development - Shiseido Holdings has effectively implemented a comprehensive sales channel strategy, with Han Shu ranking first in monthly GMV on Douyin in the first half of 2025 [10] - The brand has also seen significant growth across various e-commerce platforms, including Tmall, Vipshop, Pinduoduo, and Kuaishou, creating a robust sales ecosystem [10] Research and Development - The company invested over 103 million RMB in R&D in the first half of 2025, a 31.7% increase year-on-year, resulting in nearly 200 patents and several publications in global core journals [11] - The establishment of the "Han Shu Translational Medicine Fund" signifies the company's commitment to integrating academic and medical resources to enhance product innovation [12] International Expansion - Shiseido Holdings is actively pursuing international growth, particularly in Southeast Asia, aiming to elevate its brand from a "Chinese brand" to a "global brand" [13] - The company's international strategy is expected to open new growth avenues and enhance its global market presence [13]
上半年净利润同比增34.7%验证盈利成长含金量，上美股份按下成长“加速键”