Core Viewpoint - The company is optimizing its investment structure by divesting non-core assets to enhance financial efficiency and focus on its main cosmetics business [1][2]. Group 1: Investment and Strategic Decisions - The company announced the transfer of a 45% stake in Jiaxing Woyong Investment Partnership for a price of 99.99 million yuan, indicating a strategic decision to improve capital utilization [1]. - This transaction aligns with the company's long-term development strategy and reflects a prudent approach to investment [1]. Group 2: Financial Performance - In 2024, the company achieved a revenue of 10.778 billion yuan, representing a year-on-year growth of 21.04%, with a net profit of 1.552 billion yuan, up 30% [2]. - For the first quarter of 2025, the company reported a revenue of 2.359 billion yuan, an increase of 8.13%, and a net profit of 390 million yuan, growing by 28.87% [2]. Group 3: Research and Development - The company increased its R&D investment to 210 million yuan in 2024, a growth of 21.21%, and established three R&D centers in cities like Hangzhou and Shanghai [2]. - Future R&D efforts will focus on key areas such as anti-aging, scalp micro-ecology, and sustainable materials to build technological barriers [2]. Group 4: Brand and Market Strategy - The company is implementing a multi-brand and multi-category strategy, with brands like "Proya," "Caitang," and "Off&Relax," covering various segments such as skincare and makeup [2]. - This strategy aims to create a clear and complementary brand matrix within the domestic cosmetics industry [2]. Group 5: Channel and Digital Strategy - The company is enhancing its online and offline channel development, focusing on e-commerce and new marketing methods like live streaming to increase brand penetration and customer loyalty [3]. - A unified data foundation has been established to drive decision-making efficiency through digitalization and AI technologies, creating an "AI beauty ecosystem" for improved operations and personalized consumer experiences [3].