林清轩通过港交所聆讯：“国货高端护肤第一股”上市在即 上半年营收大涨98.3%

Core Insights - Lin Qingxuan has successfully passed the Hong Kong Stock Exchange hearing and is set to become the first high-end domestic skincare stock listed on the main board [1] - The company has shown strong revenue growth, with total revenue projected to increase from 691 million yuan in 2022 to 1.21 billion yuan in 2024, representing a compound annual growth rate of 32.3% [1] - In the first half of this year, Lin Qingxuan achieved a revenue of 1.052 billion yuan, marking a year-on-year increase of 98.3% [1] Group 1: Market Position and Product Offerings - Lin Qingxuan has been the top-selling essence oil brand in China for 11 consecutive years, focusing on anti-wrinkle and firming skincare products [2] - The company pioneered the "oil-based skincare" concept in 2014 and has launched several successful products, including the Camellia Oil Essence, which has sold over 45 million bottles [2] - The product lineup includes various recognized items that cater to diverse consumer skincare needs, such as brightening creams and anti-wrinkle serums [2] Group 2: Sales Channels and Customer Engagement - Lin Qingxuan has effectively integrated online and offline sales channels, with a total of 554 stores nationwide, over 95% of which are located in shopping malls [2] - The company has achieved significant online sales success, ranking first in multiple categories on platforms like Tmall during major shopping events [3] - Lin Qingxuan has over 5.6 million active customers, with an average annual repurchase rate of approximately 33.5%, outperforming the industry average [3] Group 3: Research and Development - The company holds 87 patents, including 46 invention patents, covering key areas such as formula development and extraction technology [4] - Lin Qingxuan has established a complete value chain for its core ingredients, ensuring quality and uniqueness in its products [4] - The company has secured long-term supply agreements with nine high-quality camellia flower planting bases, ensuring a stable supply of raw materials [5] Group 4: Industry Trends and Future Outlook - The demand for high-end skincare products in China is steadily increasing, with a notable surge in demand for quality and effective products [6] - Lin Qingxuan is positioned to redefine high-end domestic skincare through its innovative approaches and comprehensive sales strategies [6] - The upcoming listing on the capital market is expected to enhance the brand's influence and drive further innovation in the domestic skincare sector [6]