上海家化(600315.SH)：双十一全周期，公司线上GMV同比保持两位数增长

Core Insights - The company anticipates a double-digit year-on-year growth in online GMV for the entire 2025 Double Eleven shopping period [1] - The Douyin channel is expected to see over 50% growth, while the Tmall channel's growth rate is projected to outperform the market average [1] Company Performance - Online GMV growth is projected to be in double digits for 2025 [1] - Douyin channel growth is forecasted to exceed 50% [1] - Tmall channel growth is expected to be better than the overall market growth [1]