【上美股份（2145.HK）】2025年业绩表现亮眼，多品牌、多品类持续发力——2025年业绩预告点评（姜浩/朱洁宇/孙未未）

Group 1 - The core viewpoint of the article is that the company, Up Beauty Co., is expected to achieve impressive financial performance in 2025, with significant revenue and profit growth driven by its multi-brand and multi-category strategy [4][5] Group 2 - In 2025, the company anticipates revenue between 9.1 billion to 9.2 billion yuan, representing a year-on-year increase of 34.0% to 35.4%, and a net profit of 1.14 billion to 1.16 billion yuan, reflecting a year-on-year increase of 41.9% to 44.4% [4] - For the first half of 2025, the company expects to achieve revenue of 4.11 billion yuan, a year-on-year increase of 17.3%, and a net profit of 560 million yuan, a year-on-year increase of 34.7% [4] - In the second half of 2025, the company projects revenue of 5.04 billion yuan, a year-on-year increase of 53.2%, and a net profit of 590 million yuan, a year-on-year increase of 52.1% [4] Group 3 - The company's strong performance is attributed to the successful layout of multiple brands and categories, with notable growth in the scientific anti-aging skincare brand Han Shu and the infant and child skincare brand Newpage [5] - According to third-party platform data, Han Shu's sales on Taobao and Douyin increased by 26% and 13% respectively, while Newpage's sales grew by 82% and 166% [5] - The company is optimizing its channel structure and enriching its product offerings, with Han Shu's channel structure becoming healthier and its product mix becoming more balanced [5]