Group 1 - The company is addressing high operational costs in the industry through internal growth and external acquisitions, solidifying its leading position with advantages in brand strength, channel network, and customer base [1][2] - The major shareholder CPE has successfully exited, leading to an optimized shareholder structure [1] - The company plans to increase its stake in Guangzhou Nairui'er, which, along with the improved liquidity from the optimized shareholder structure, is expected to enhance valuation [1] Group 2 - The company aims to enhance its capital market value with a plan launched in March 2025, focusing on three strategic initiatives: increasing the dividend payout ratio, optimizing the shareholder structure, and implementing a long-term incentive mechanism for management [2] - The company announced plans to further acquire a 20% stake in Guangzhou Nairui'er, increasing its ownership to 90%, which is expected to significantly boost net profit and earnings per share [2] - The company is leveraging its strong brand, channel network, and customer base in the beauty and health management sectors to overcome high operational costs, aiming for further expansion and consolidation of its leading position [2]

Core Viewpoint - The company has proposed a capital market value enhancement plan for 2025-2027, focusing on increasing dividend payouts, optimizing shareholder structure, and implementing long-term incentive mechanisms for management [1] Group 1: Capital Market Value Enhancement Plan - The company aims to use no less than 50% of its annual net profit attributable to shareholders for dividends from 2025 to 2027, barring special circumstances [1] - The company plans to attract high-quality long-term institutional investors to improve market liquidity and trading activity [1] - A core management equity incentive plan will be implemented, with performance indicators covering both revenue and profit growth for 2025-2027 [1] Group 2: Shareholder Structure Optimization - As of June 25, 2025, CPE has reached agreements to sell approximately 51 million shares (about 21.77% of total shares), with investors including foreign long-term healthcare funds and leading international hedge funds [1] - The exit of CPE is expected to alleviate upward pressure on the company's stock price and enhance market liquidity through the entry of long-term funds [1] Group 3: Business Growth and M&A Opportunities - The company has shown stable internal growth, with a 14.5% year-on-year increase in rights fees to 510 million yuan and a 9.7% increase in sales to 550 million yuan during the Goddess Festival promotion [1] - The company plans to increase its stake in Nairui by investing 100 million yuan to acquire 20% of its shares, raising its ownership to 90% [1] - The company is positioned to potentially acquire other leading beauty brands to further increase market share and performance [1] Group 4: Profit Forecast - The company has adjusted its profit forecast, expecting net profits attributable to shareholders to be 290 million, 340 million, and 380 million yuan for 2025-2027, representing year-on-year growth of 25%, 17%, and 14% respectively [2] - The corresponding price-to-earnings ratios based on the closing price on July 3 are projected to be 22, 19, and 16 times for the respective years [2]