加华出手3亿，自然堂要IPO了

Core Viewpoint - The article highlights the successful financing round of the Chinese beauty brand, Chando, which has become a unicorn with a valuation exceeding 70 billion RMB, marking a significant milestone in the domestic beauty industry [3][4][5]. Financing and Valuation - Chando Group recently completed a financing round with a total amount exceeding 700 million RMB, with investment from China Huaxin Capital and global beauty giant L'Oréal [3][4]. - The post-investment valuation of Chando is approximately 71.4 billion RMB, establishing it as a new domestic beauty unicorn [5]. Company Growth and Performance - Chando has emerged as the third-largest domestic cosmetics group in China, with annual revenues exceeding 4.5 billion RMB [3][11]. - The company has shown consistent revenue growth from 4.29 billion RMB in 2022 to 4.60 billion RMB in 2024, with net profits of 1.39 billion RMB, 3.02 billion RMB, and 1.90 billion RMB during the same period [11]. Investment Strategy and Support - China Huaxin Capital has been deeply involved with Chando since 2021, conducting extensive research and providing strategic support, including the establishment of a comprehensive budget management system focused on ROE [6][7]. - The capital firm has positioned itself as a "co-creator" with Chando, helping the company enhance its digital decision-making capabilities and improve advertising efficiency [7]. Market Context and Future Outlook - The domestic beauty market is experiencing a shift towards brand concentration, with local brands capturing approximately 55.2% market share as of 2024, indicating a transition from "group rise" to "leading concentration" [14]. - Despite macroeconomic pressures, the demand for quality and reasonably priced beauty products remains strong, suggesting a robust future for domestic beauty brands [14][15]. - The article notes a resurgence in consumer investment, particularly in the Hong Kong stock market, with several domestic beauty brands preparing for IPOs [14][15].