卖了4500万瓶精华油，林清轩要上市了

Core Insights - The company, Lin Qingxuan, is preparing for its IPO and has reported total revenue exceeding 1 billion RMB in the first half of 2025, indicating strong growth potential in the high-end skincare market [1][3]. Revenue and Growth - Lin Qingxuan's total revenue for the years 2022, 2023, and 2024 was 691.15 million, 805.00 million, and 1.21 billion RMB respectively, with a compound annual growth rate (CAGR) of 32.3% [3][4]. - In the first half of 2025, the company achieved a total revenue of 1.05 billion RMB, representing a year-on-year growth of approximately 98.5% [3][4]. Product Performance - The core product, Camellia Oil, has sold over 45 million bottles since its launch in 2014 and has ranked first in total retail sales among facial oils in China for 11 consecutive years [2][3]. - The contribution of the Camellia Oil to total revenue has increased from 31.5% in 2022 to 45.5% in the first half of 2025, highlighting its growing market competitiveness [4]. Market Position and Expansion - As of June 30, 2025, Lin Qingxuan operates 554 stores nationwide, with over 95% located in shopping malls, making it the leading domestic and international high-end skincare brand by store count in China [2][3]. - The company has diversified its product offerings to include 230 SKUs across various categories such as creams, toners, and sunscreens, aiming to mitigate risks associated with reliance on a single product [5]. Investment and Ownership - The founder, Sun Laichun, holds a 38.21% stake, while other notable investors include Yangtze River Fashion and Wu Xiaobo's fund, indicating strong backing from established investors [5].