Group 1 - The company has been deeply engaged in the plant-based skincare market for 30 years, focusing on the "Plant Doctor" brand, and is one of the largest single-brand beauty store chains in China [4][10] - The company achieved revenue of 2.12 billion, 2.15 billion, and 2.16 billion yuan from 2022 to 2024, with a compound annual growth rate (CAGR) of 24% for net profit, indicating strong profitability [4][21] - The company has a well-established sales model that includes a mix of distribution and direct sales, with a comprehensive online and offline presence [4][25] Group 2 - The cosmetics market is steadily growing, transitioning from quantity to quality, with domestic brands, online sales, and niche segments driving growth [4][32] - The skincare segment remains dominant, accounting for 50.5% of the overall cosmetics market in China, with a market size of 271.2 billion yuan in 2024 [36][39] - E-commerce has rapidly risen, with its share of cosmetics sales increasing from 22% in 2016 to 47% in 2024, showcasing the efficiency and flexibility of online platforms [42][43] Group 3 - The company has a strong brand presence, ranking 13th in market share, and has received recognition as a leading plant-based skincare brand [47][50] - The company operates over 4,300 offline stores, providing extensive market coverage, while also achieving significant growth in online sales through platforms like Douyin and Taobao [51][55] - The company has established partnerships with research institutions to develop innovative plant-based ingredients, enhancing its product offerings [60]
从植物医生看化妆品行业发展趋势:植物护肤心智深入人心,线下门店有量有质
Shenwan Hongyuan Securities·2025-07-12 14:28