润熙泉关停，华熙生物化妆品业务突围记

Core Viewpoint - The closure of the Runxiquan brand by Huaxi Biological is part of a strategic transformation aimed at refocusing on core brands and addressing declining performance in the functional skincare sector [1][4][5] Brand Adjustment - Huaxi Biological has confirmed the shutdown of the Runxiquan brand, stating it contributed insignificantly to revenue and profit [4][5] - The brand was launched in 2019, focusing on collagen-based skincare products, but has since become marginalized [5][6] - Runxiquan's revenue was not disclosed, but it is inferred to have a small share in the overall revenue of Huaxi Biological, which reported total functional skincare revenue of 2.569 billion yuan in 2024 [4][6] Financial Performance - The functional skincare business of Huaxi Biological has seen a significant decline, with a revenue drop of 31.62% in 2024 [6][7] - Major brands under Huaxi Biological, including Runbaiyan and Kuaidi, also experienced revenue declines ranging from 22.63% to 52.06% [6][7] - Overall revenue and net profit for Huaxi Biological fell by 19.57% and 35.38% respectively in the first half of 2025 [6][7] Market Challenges - The functional skincare sector is facing a bottleneck, with increased competition and a saturated market limiting growth opportunities for smaller brands [5][10] - Huaxi Biological's past success was heavily reliant on traffic-driven sales, which has become unsustainable due to rising costs and diminishing returns [7][10] Strategic Transformation - Huaxi Biological is undergoing a significant internal transformation, focusing on five key areas: operations, products, channels, organization, and branding [9] - The company aims to shift from a traffic-driven sales model to a science-based brand communication strategy [9] - Recent adjustments have led to improved team efficiency and inventory turnover for brands like BM Jihuo and Mibeier [9]