植物医生IPO进入“已问询”阶段，品牌战略彰显超强定力

Core Viewpoint - The IPO application status of the domestic high-altitude plant skincare brand, Plant Doctor, has been updated to "inquired," marking a significant progress since the submission of its prospectus. The company's strategy of focusing on a single brand and high-altitude plants, while deepening its offline specialty store presence, is at a critical validation moment [1]. Group 1: Brand Strategy - Plant Doctor has maintained a clear focus on a single brand, emphasizing "high-altitude plants, pure beauty," which has created a differentiated advantage in a competitive market [3]. - The brand has become a leader in China's single-brand cosmetics stores, according to the China Fragrance and Cosmetic Industry Association, based on projected retail sales for 2024 [3]. Group 2: Research and Innovation - In 2014, Plant Doctor established the "Chinese Academy of Sciences Kunming Plant Research Institute R&D Center," marking a significant step in technological innovation [4]. - The collaboration has led to substantial achievements, including the transformation of large-molecule Dendrobium polysaccharides into more effective Dendrobium oligosaccharides, which won a national award for commercial technological progress [4]. - As of October 31, 2025, the company has accumulated 223 patents, supporting its product innovation through a robust R&D system [4]. Group 3: Offline Store Model - Plant Doctor operates over 4,200 offline specialty stores, which serve not only as sales points but also as brand experience centers [5]. - The stores provide product trials and skincare services, enhancing user experience and customer loyalty, effectively creating a private traffic pool for the brand [6]. - The company has been recognized for three consecutive years by Euromonitor as a "global leading single-brand skincare specialty store," validating its business model [6]. Group 4: International Expansion and Future Outlook - Plant Doctor has expanded its business to multiple countries and regions, including Japan, Indonesia, Thailand, and Hong Kong, gradually building a global brand influence [6]. - The company is on the verge of a key IPO stage, and if successful, it will continue to innovate in ingredient development, product experience, and brand building, contributing to high-quality industry development [6].