Shanghai Lily&Beauty (SH:605136) Nan Fang Du Shi Bao·2025-09-30 17:22Core Viewpoint - The ongoing divorce property dispute involving Huang Tao, the actual controller of Liren Lizhuang, has resurfaced, with his ex-wife requesting the transfer of shares worth approximately 170 million yuan to their child, which could lead to a potential loss exceeding 300 million yuan for Huang Tao if the court supports her claim [1][3][5]. Company Overview - Liren Lizhuang, established in May 2010, specializes in online retail services for cosmetics, primarily operating through Tmall and collaborating with brands like Maybelline and Schwarzkopf [5]. - The company completed its shareholding reform in March 2016 and began its A-share listing process in August of the same year, eventually listing on the Shanghai Stock Exchange in September 2020 [5][6]. Recent Developments - On September 30, 2023, Liren Lizhuang announced that Huang Tao received a court notice regarding the property dispute, with his ex-wife requesting the transfer of 16,747,538 shares to their child [3][5]. - Following a previous court ruling in November 2023, Huang Tao's shareholding was reduced from 32.46% to 28.28%, while his ex-wife became a significant shareholder with a 4.18% stake [6][8]. Financial Performance - For the first half of 2025, Liren Lizhuang reported a revenue of 831 million yuan, a decrease of 13.98% year-on-year, and a net loss attributable to shareholders of approximately 32.76 million yuan, a decline of 1315.98% [8][10]. - The company's cash flow from operating activities also saw a significant drop of 54.27%, amounting to 63.34 million yuan [10]. - The decline in revenue was attributed to unmet expectations from cooperative brands and the termination of partnerships with certain Korean brands [11].