敷尔佳分析师会议-2025-03-14

Investment Rating - The report does not explicitly state an investment rating for the industry or the specific company being analyzed [1]. Core Insights - The company focuses on the research, production, and sales of professional skin care products, which are categorized into medical device products and functional cosmetics [18][19]. - The company has established a collaborative R&D model, enhancing its research capabilities through partnerships with various academic institutions [19]. - The company has received multiple market certifications, indicating strong market performance in various product categories, including the highest repurchase rates for certain cosmetic products [22]. Summary by Sections 1. Basic Research Information - The research was conducted on March 13, 2025, with key personnel from the company present, including the board members and investor relations representatives [13]. 2. Detailed Research Institutions - The research involved institutions such as Xizang Boren Asset Management Company, represented by Liu Yinbo [16]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [17]. 4. Main Content Information - The company’s main products include medical-grade hyaluronic acid repair patches and functional skincare products targeting various skin concerns [18]. - The company employs a production model that primarily focuses on self-manufacturing, supplemented by contract manufacturing [20]. - The sales strategy includes both online and offline channels, with significant emphasis on platforms like Douyin and Tmall for brand marketing and product sales [21].