上海家化前三季度实现营收双位数增长 净利润翻倍

Core Insights - Shanghai Jahwa reported a revenue of 4.961 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 10.8% [1] - The net profit reached 405 million yuan, showing a significant increase of 149.1% year-on-year [1] - The company’s non-recurring net profit was 231 million yuan, up by 92.4% compared to the previous year [1] Financial Performance - As of the end of Q3 2025, accounts receivable decreased by 21.4% year-on-year, and inventory dropped by 18.2% [1] - Operating cash flow saw a substantial increase of 172.8% year-on-year [1] Strategic Focus - The company has concentrated on its core brands and achieved significant milestones this year [1] - Shanghai Jahwa is implementing a brand tiering and core product strategy, focusing on "category breakthroughs, strategic flagship products, and marketing innovation" [1] - The company launched three major products with over 100 million yuan in revenue: Six God Mosquito Repellent Egg, Yuze Second Generation Barrier Repair Cream, and Baicaoji New Seven White Mud [1] Market Performance - Revenue growth for the company reached 28.3% year-on-year by Q3 [1] - The beauty segment's all-channel revenue increased by 2.7 times year-on-year [1] - Online channel revenue for domestic business grew by 1.7 times year-on-year, indicating a shift towards brand-driven performance growth [1] R&D and Marketing - Shanghai Jahwa is one of the earliest daily cosmetics companies in China to establish a research and development center, with 35 years of R&D experience [2] - The company has built a robust R&D innovation system, which supports the rapid launch of new products and product iterations [2] - In Q3, the company announced four brand ambassadors to enhance brand image and increase market presence [2]