赖世贤：「坚韧和专注」铸就林清轩的今天，愿携手更多中国品牌一起崛起

Core Viewpoint - Lin Qingxuan has officially listed on the Hong Kong Stock Exchange as the "first high-end domestic skincare stock," with a market capitalization exceeding HKD 11.6 billion, positioning it among the top 10 domestic listed cosmetics companies [2][3]. Group 1: Investment Highlights - Lin Qingxuan has established a closed-loop and traceable value chain from research and development to retail, which serves as its core technological barrier [4]. - The brand has demonstrated strong product efficacy and user loyalty, resulting in a dedicated customer base [4]. - The founder, Sun Laichun, embodies a long-term commitment to excellence in the camellia oil sector, reflecting a long-termism spirit [4]. - As a high-end domestic skincare brand, Lin Qingxuan exhibits healthy profit margins and growth potential, showcasing resilience across market cycles [4]. Group 2: Competitive Advantages - Lin Qingxuan possesses genuine "source authority" over raw materials, controlling the entire process from plant resources to extraction technology, unlike many domestic brands that rely on external suppliers [4]. - The company has built a "technical moat" through continuous investment in data, patents, clinical trials, and processes, which is rare in the Chinese skincare industry [5]. - Lin Qingxuan has developed a unique Eastern aesthetic and brand narrative, using the red camellia flower to create a comprehensive brand identity that resonates culturally with consumers [5]. Group 3: Future Expectations - The focus for Lin Qingxuan is to "stay true to its original intention and amplify its advantages," with hopes to deepen its commitment to the red camellia as a core ingredient and increase R&D investment [5]. - The company aims to leverage its listing to expand both domestic and international markets, showcasing the appeal of Chinese plant-based skincare to global consumers [5]. - There is an ongoing discussion about potential collaboration to promote the internationalization of domestic brands and contribute to the overall upgrade of Chinese consumer brands [5].