New Consumption Highlights - WonderLab launched a new probiotic chewing gum product, combining probiotics and postbiotics with mint and green coffee complex [2][3] - MANNER collaborated with Shanghai Pudong Art Museum to introduce a new iced Americano inspired by Van Gogh's artwork [5] - Mengniu introduced a new live bacteria yogurt ice cream, made with at least 65% fresh milk and 100% live bacteria fermentation, recently awarded a silver prize for health innovation [3][5] - PepsiCo announced a new prebiotic soda, marking the first new flavor addition in 20 years, available in original and cherry vanilla [3] - Sun Valley launched a new fried product series, including flavors like crayfish and honey onion chicken sticks [3] - Asahi Group began trial sales of a yeast-based non-dairy milk product, LIKE MILK, which is free from 28 common allergens [7] - Xueji Chaohuo partnered with Yili to launch a new yogurt product made with fresh milk from Yili's farms [7] - Fi xXBody introduced a new air-puffed rice snack available in sea salt and barbecue beef flavors, containing a mix of ten grains and seeds [7] - Lee Kum Kee launched a low-sodium soy sauce with 25% less salt content, suitable for dipping and cooking [7] Industry Events - GODIVA announced a collaboration with LABUBU to launch a new ice cream series featuring various chocolate flavors [10] - Northeast retail giant Biyoute partnered with RELEX Solutions for supply chain planning [10] - Nike announced Karina from Aespa as a new brand ambassador, emphasizing diversity and female representation [10] - Keen launched its first trail running shoe, Seek, after two years of development [10] - Italian sportswear brand Hydrogen is entering the Chinese market, set to launch in Spring/Summer 2026 [10][13] - Taiwanese matcha brand "Yuqian Shangcha" opened its first store in Shanghai, focusing on high-end matcha products [10] - PAGEONE bookstore opened its first store in Jiangsu, continuing its expansion in China [10] - Popeyes announced the opening of five new stores in Shanghai [10] - Baosheng became the general agent for DYNAFIT in China, enhancing its outdoor brand portfolio [10] Investment and Financing Trends - Yangtuo Technology Inc., a maternal and infant e-commerce platform, applied for an IPO on the Hong Kong Stock Exchange [16] - Little Sesame, a US hummus brand, completed an $8.5 million Series A financing round [16] - Theo Health, a Scottish smart sportswear company, raised £1.2 million in funding [16] - Tianwei Food's major shareholder transferred 21.2 million shares, representing 1.99% of the company's total shares [18] - XPeng Huitian completed a $250 million Series B financing round to accelerate the development of its flying car [20] - Korean makeup brand Jungsaemmool received investment from CLSA Capital Partners, amounting to 500 million KRW (approximately 26 million RMB) [20] - Ulta Beauty is set to acquire UK beauty retailer Space NK, with the deal exceeding £300 million (approximately 2.9 billion RMB) [20] - Chanel acquired a 20% stake in Italian leather manufacturer Nuova Impala, strengthening its investment in the Italian supply chain [22] Food Industry Developments - Nongfu Spring's parent company launched "Birch Tree Juice," a 100% natural juice product sourced from high-quality birch trees [23] - Emerging health brand Ozzi introduced a natural drink aimed at controlling evening appetite [23] - if launched a limited edition jasmine rice-flavored coconut water to celebrate the 50th anniversary of China-Thailand diplomatic relations [24] - Qiaqia partnered with Taier to launch a new flavor of sunflower seeds inspired by sour fish soup [24] - UK candy brand Ruly introduced a caffeine-infused candy series [24] - Shiyan Studio launched new spicy flavors of crispy corn chips [24] - Yili's subsidiary Xu Jinhui collaborated with Haier Brothers to launch a new ice cream product [25] - Ganyuan introduced a Sam's Club exclusive freeze-dried hazelnut product [25] - Asahi launched Japan's first yeast-based milk product, LIKE MILK, with a 38% reduction in fat content [25] - Buzhu launched a new mint-flavored electrolyte water [25] Beauty Industry Updates - Chinese makeup brand Ju Duo plans to launch its first nourishing foundation line [28] - Tatcha is entering the Spanish market through Sephora [28] - Amorepacific's Ryo brand released a new scalp essence product [28] - Louis Vuitton introduced a new signature handbag, Express, in its Fall/Winter 2025 collection [28] - Aveda opened its first concept flagship store in China, located in Shanghai [32] - JD Health launched its first offline medical beauty clinic in Beijing [32] - Jaeger-LeCoultre released a new dating series watch featuring intricate floral designs [32] - Tiffany & Co. opened its largest flagship store in Asia in Tokyo [32] - Zhenyan launched a multi-dimensional protein repair system for skincare [32] - Onitsuka Tiger announced the launch of a new perfume series, marking its entry into the beauty sector [32]

Core Viewpoint - The article highlights the impressive performance of THE WHOO, a high-end skincare brand, during the 2025 618 sales event, showcasing its market leadership and strategic initiatives that contribute to its growth in the competitive beauty industry [2][36]. Sales Performance - The total online sales for skincare reached 43.2 billion yuan during the 618 event, a year-on-year increase of 65.52% from 26.1 billion yuan in 2024. The fragrance and makeup category generated 14.3 billion yuan, up 57.14% from 9.1 billion yuan, leading to a combined growth of 63.35% [2][3]. - THE WHOO achieved a GMV of 3.94 billion yuan, ranking 9th among beauty brands on Douyin during the 618 period [4][10]. - On Kuaishou, THE WHOO ranked 3rd in skincare sales during the same period, maintaining its position among the top high-end skincare brands [6][10]. Brand Strategy - THE WHOO's success is attributed to its four strategic pillars: cultural marketing, technological empowerment, celebrity endorsements, and immersive offline experiences [12][36]. - Cultural marketing efforts include collaborations with traditional Chinese art forms, such as Dunhuang murals and Peking opera, enhancing the brand's cultural resonance and emotional connection with consumers [12][14][16]. - Technological advancements are evident in the launch of the weather-dan PRO series, which incorporates innovative ingredients aimed at addressing modern skincare concerns [17][19]. - The brand has optimized its celebrity endorsement strategy, featuring well-known figures like Li Xian and Kim Ji-won to broaden its appeal across different demographics [20][23]. Market Trends - The high-end beauty market in China has experienced a compound annual growth rate decline of 3% from 2021 to 2024, with a market size reduction from 257.8 billion yuan to 236.4 billion yuan [27][30]. - THE WHOO's approach to maintaining its market position involves a focus on scientific research and understanding consumer needs, particularly in the context of anti-aging trends [35][36]. Conclusion - THE WHOO's strong performance during the 618 sales event and its strategic initiatives reflect its commitment to leading the high-end skincare market in China. The brand's ability to adapt to market changes and consumer preferences positions it as a benchmark for international beauty brands [36].

New Product Launches - Bright Dairy launched the new organic milk ice cream "Guangming Youbei," containing 55% organic milk, with protein content not less than 4.5g/100g [4] - Xueji Snacks and Yili Group introduced a new yogurt product featuring a "milk skin" layer, made from fresh milk sourced from Yili's professional farms [4] - Joyoung released a new red date soy milk powder, made from non-GMO soybeans and red dates, containing 28g of protein per 100g [6] - Yi Bao launched a new 5L packaging of its bottled drinking water, designed for multiple consumption scenarios [6] - Luckin Coffee and Duolingo collaborated to launch a new product, "Green Sand Latte," made with high-quality green beans and IAC award-winning coffee beans [22] Industry Events - Anta opened a new brand experience space called "Anta Home" in Jinjiang, featuring appearances by Olympic champions [9] - Mengniu's high-end ice cream brand Tilan Shengxue officially entered the Hong Kong and Macau markets, becoming the first high-end ice cream brand approved by local authorities [10] - Yuanji Cloud Dumplings announced its first store in Thailand, maintaining its original recipe without local adaptations [12] - Grandpa's Tea appointed actress Shu Qi as its brand ambassador, marking a significant step in brand influence [12] Investment and Financing - The smart beverage retail brand "Pengbei Station" completed a financing round of 50 million yuan, focusing on AIOT solutions for unmanned retail [16] - Qunxing Toys secured 159.47 million yuan in financing, representing 26.25% of the day's buying amount [17] - Jujitang completed a 10 million yuan angel round financing, focusing on health food supply chains [18] - Three Squirrels announced an investment of up to 200 million yuan to upgrade its snack supply chain [19] Food Industry Developments - The new "Shang Jian Wang" tea beverage series from Shan Zha Shu Xia Group features oolong and jasmine tea, with zero sugar, fat, and calories [6] - Farmer Spring launched a new birch tree juice product, currently available only through Sam's Club [24] - DolCas Biotech introduced a chocolate bar containing fish collagen peptides, targeting joint and skin health [26]

Core Viewpoint - Lehua Entertainment has quietly exited its partnership with Huaxi Biological, with the latter announcing the withdrawal of Tianjin Yihua Management Consulting Co., Ltd. from the shareholder list of the children's skincare brand Runxihe, effective July 10, 2025. The collaboration was initially based on the founders' insights into their daughters' skincare needs, but the operational model did not meet expectations, prompting the decision to part ways [1][13]. Company Summary - Huaxi Biological's announcement highlighted that the original intention behind the Runxihe brand was to leverage the strengths of both companies in skincare active ingredients and cultural entertainment to create a children's skincare brand. However, the operational model failed to reflect the founders' original vision, leading to the decision to adjust the partnership [1][13]. - Lehua Entertainment confirmed its focus on core business development and IP expansion following the amicable agreement with Huaxi Biological. The company previously held a 50% stake in Runxihe [4][13]. - The Runxihe brand, launched in 2019, was part of a joint venture established in 2023, coinciding with Lehua Entertainment's IPO in Hong Kong. The brand aimed to tap into the beauty market, which was seen as a potential growth area for Lehua [16][17]. Industry Summary - The children's skincare segment has emerged as a lucrative area for domestic beauty brands, with several companies entering the market, including Betaini with "Winona Baby" and Shanghai Jahwa with "Qichu." The market has seen rapid growth, with brands like "Turtle Dad" and "Kangaroo Mom" gaining significant traction [18]. - Despite the initial promise, Runxihe's performance has not met expectations, as indicated by Huaxi Biological's recent quarterly reports, which did not mention the brand's performance or product lines. The company has been undergoing significant organizational changes since late 2022, which may have influenced the decision to exit the partnership [17][18].

Group 1 - Fonterra's Greater China region is undergoing a restructuring, merging its consumer brand team with its food service team to optimize operations and enhance synergies [1] - In the Chinese market, Fonterra's food service business significantly outperforms its consumer brand business, with food service revenue of NZD 2.377 billion (approximately RMB 10.133 billion) in FY2024, compared to consumer products revenue of NZD 394 million (approximately RMB 1.68 billion) [1] - The food service business is considered Fonterra's profit driver, generating a tax profit of NZD 299 million (approximately RMB 1.275 billion) in FY2024, while the consumer products segment reported a tax loss of NZD 15 million (approximately RMB 63.945 million) [1] Group 2 - Fonterra is facing intense competitive pressure, particularly from domestic brands like Miaokelando, which reported a 14% year-on-year revenue growth in its food service series, reaching RMB 1.31 billion in 2024 [2][3] - The ongoing price war in the food service sector is exerting downward pressure on prices, affecting Fonterra's profit margins in its food service business, which has already seen a decline in gross margin [4] - The adjustments being made by Fonterra may be just the beginning in response to market changes and competitive dynamics [5]

Group 1: Company Overview - Stock Code: 300242, Company Name: Jia Yun Technology [1] - Date of Investor Relations Activity: July 17, 2025 [2] Group 2: Investor Relations Activity - Type of Activity: Specific Object Research [2] - Participants: Representatives from various investment firms including Shenzhen Gudong Guanjia Technology Co., Ltd. and Shenzhen Rongxintai Private Securities Fund Management Co., Ltd. [2] Group 3: Key Questions and Answers - **Future Plans of Major Shareholder**: The major shareholder, Hainan Xinyu Hang Investment Co., Ltd., has no plans to change the main business or conduct significant asset transactions within the next 12 months [3] - **R&D Personnel Reduction**: The reduction of R&D personnel to zero in 2024 is due to the termination of diversified gaming business, which will not impact the main business in the short term [3] - **Beauty and Skincare Business Performance**: In 2024, the beauty and skincare business generated revenue of 98.93 million yuan, a year-on-year increase of 35.70% [3] - **Product Categories and Sales Channels**: The "Qiran" brand offers 94 product SKUs across eight major series, with sales conducted through both online platforms (e.g., Tmall, Douyin) and offline stores [4][5]

Group 1 - The core viewpoint of the article highlights the recognition of Beitaini Group as a leading brand in the international market, particularly through its inclusion in the "Top 100 Chinese Brands for Internationalization" list, showcasing its global influence and innovative capabilities [1][2] - The conference aimed to decode the successful path of Chinese brand internationalization, focusing on innovation, leadership, and brand value, thereby establishing a new image for Chinese brands on the global stage [1] - Beitaini Group has established research and development centers in Shanghai and Kunming, as well as advanced laboratories in Paris and Tokyo, to enhance international R&D collaboration [1] Group 2 - The company is set to launch its Southeast Asia headquarters in Bangkok in early 2024, further solidifying its global operational footprint [1] - Beitaini Group leverages its strong R&D capabilities and unique plant resources from Yunnan to market advanced skincare technologies, including sensitive skin and anti-aging products [1] - The core brand Winona has been recognized in the first batch of China's consumer brand list published by the Ministry of Industry and Information Technology, reflecting its brand value and market position [2]

Core Viewpoint - Huaxi Biological's financial performance has significantly declined, with a notable drop in revenue and net profit for 2024, primarily due to poor sales in its skin science innovation transformation business [1][5][21] Financial Performance - In 2024, Huaxi Biological achieved operating revenue of 5.371 billion yuan, a year-on-year decrease of 11.61%, and a net profit attributable to shareholders of 174 million yuan, down 70.59% year-on-year [1][3] - Revenue from the skin science innovation transformation business fell by 31.62% in 2024, contributing to 47.92% of the company's main business revenue [5] Brand Performance - The sales of four core skincare brands have continuously declined over the past two years, with significant drops in revenue: - Runbaiyan: 2023 down 13.86%, 2024 down 22.63% - Kuaidi: 2023 down 18.64%, 2024 down 41.69% - Mibeier: 2023 down 29.75%, 2024 down 31.76% - BM Ji Huo: 2023 down 35.19%, 2024 down 52.06% [1][8][5] Operational Efficiency - The company's operational capabilities are concerning, with multiple operational efficiency indicators, such as total asset turnover and inventory turnover, declining in 2024 [2][10] - Total asset turnover rates from 2022 to 2024 were 0.79, 0.71, and 0.63, indicating a decrease in asset utilization efficiency [10][12] - Inventory turnover days increased from 196.69 days in 2021 to 307.93 days in 2024, reflecting a weakening inventory turnover capability [12] Inventory Management - As of the end of 2024, the inventory balance for functional skincare products was 479 million yuan, with an average inventory age of 465.6 days, indicating potential issues with product turnover [14][17] - The company has made provisions for inventory depreciation, with a total of 77 million yuan, of which 43 million yuan is for functional skincare products, the highest proportion [17][18] Future Outlook - In the first quarter of 2025, Huaxi Biological's performance continued to decline, with operating revenue of 1.078 billion yuan, down 20.77% year-on-year, and a net profit of 102 million yuan, down 58.13% year-on-year, primarily due to the ongoing decline in the skin science innovation transformation business [21]

Core Viewpoint - The article discusses Lin Qingxuan's upcoming IPO in Hong Kong, highlighting its ambition to become the "first high-end domestic skincare stock" while revealing underlying issues such as product dependency, high marketing costs, and weak R&D capabilities [1][2][6]. Capitalization and Market Dynamics - Lin Qingxuan's valuation has surged due to significant capital influx, with notable investments from various funds and companies, including a recent acquisition by a firm linked to JD.com [1][2]. - The market for facial essence oils is rapidly growing, with a projected increase from 900 million yuan in 2019 to 5.3 billion yuan in 2024, reflecting a compound annual growth rate of 42.8% [2]. Product Dependency and Market Limitations - Lin Qingxuan's revenue heavily relies on its camellia oil product, which accounted for 37% of total revenue by 2024, raising concerns about market saturation as the total market size is only 5.3 billion yuan [3][4]. - The company has attempted to diversify its product line with creams and sunscreens, but these efforts have not significantly impacted overall sales, with sunscreen contributing only 364 million yuan in 2024 [3][4]. Financial Performance and Marketing Strategy - The company boasts a high gross margin of 82.5% in 2024, approaching that of premium brands like Moutai, but its net profit margin has shown volatility, rising from -0.9% to 15.4% [4][5]. - Marketing expenses have been substantial, with over 50% of revenue allocated to sales and distribution costs, leading to concerns about the sustainability of this "burning money" marketing model [4][5]. Brand Trust and Market Perception - The founder's controversial marketing tactics have raised questions about the brand's credibility, with consumers increasingly associating the brand with hype rather than expertise [5][6]. - A McKinsey survey indicates that Chinese consumers have significantly lower trust in domestic high-end beauty brands compared to international counterparts, particularly in key areas like anti-aging and repair [5][6]. Path Forward for Lin Qingxuan - To succeed in the Hong Kong market, Lin Qingxuan must focus on product diversification, increase R&D investment to build technological barriers, and shift marketing strategies from a focus on traffic to brand-driven approaches [6]. - The company's journey reflects broader trends in the domestic beauty industry, where many brands struggle with a "heavy marketing, light R&D" approach, emphasizing the need for sustainable growth through innovation and product quality [6].

Core Viewpoint - The Ordinary is positioning itself as a scientific skincare brand in the Chinese market, emphasizing transparency, effective ingredients, and consumer education to counteract the prevalent marketing hype in the skincare industry [2][3][15]. Brand Launch and Market Strategy - The Ordinary held its first brand launch event in China on June 24, 2025, and is set to open its Tmall flagship store on July 11, 2025, marking a significant step in its market entry strategy [2][3]. - The brand aims to shift the focus of the skincare market from marketing competition back to scientific efficacy, establishing new value benchmarks in the industry [3][25]. Brand Philosophy and Development - Founded in 2016, The Ordinary emerged as a response to exaggerated marketing claims in the skincare industry, advocating for transparency in product formulation and pricing [9][7]. - The brand's products are named after their key active ingredients and concentrations, with a commitment to affordable pricing, exemplified by its best-selling Niacinamide 10% + Zinc 1% serum priced at 59 yuan for 30ml, significantly lower than competitors [9][10]. Scientific Approach and Consumer Engagement - The Ordinary emphasizes a science-driven approach, maintaining a dedicated research team of 160 experts and a commitment to clinical testing to ensure product safety and efficacy [11][18]. - The brand has built a strong community with over 5 million followers online and actively engages in consumer education to foster trust and loyalty [11][13]. Market Adaptation and Product Localization - The Ordinary is adapting its product offerings to meet the specific needs of Chinese consumers, including collaborations with local testing organizations to ensure compliance and safety [18][19]. - The brand has developed localized formulations, such as a modified glycolic acid toner, to cater to the preferences of Chinese consumers [19]. AI Integration and Retail Innovation - The launch of The Ordinary's Tmall flagship store incorporates AI technology to provide personalized shopping experiences, including tailored product recommendations based on individual skin concerns [21][22]. - This initiative reflects the brand's commitment to leveraging technology to enhance consumer engagement and education in the skincare space [21][22]. Industry Insights and Future Directions - The Ordinary's entry into the Chinese market is seen as timely, addressing the growing demand for effective skincare solutions amidst a backdrop of marketing saturation and consumer skepticism [35]. - The brand's focus on scientific communication and transparency is expected to resonate with increasingly discerning consumers, potentially reshaping the skincare industry's landscape in China [25][35].