Group 1 - The core viewpoint of the article highlights that Yunnan Betaini Biotechnology Group Co., Ltd. reported a revenue of 5.736 billion yuan for 2024, marking a year-on-year increase of 3.87%, while net profit decreased by 33.53% to 503 million yuan due to various factors including increased marketing expenses and rising operational costs [1][2] - The revenue growth is attributed to the company's continuous investment in brand expansion, product innovation, and channel development, alongside effective product strategies [1] - The company plans to distribute a cash dividend of 6 yuan per 10 shares, totaling 253 million yuan for its shareholders [1] Group 2 - In 2024, the company's R&D investment reached 337 million yuan, maintaining over 5% of revenue dedicated to R&D for three consecutive years, emphasizing its strategy of building value through technological barriers [1] - The company is focusing on a dual strategy of "multi-brand synergy + product matrix expansion" to enhance market vitality, particularly targeting sensitive skin consumers with core brand Winona consistently ranking in the top ten on Tmall for eight years [1] - The high-end anti-aging sub-brand AOXMED saw a revenue increase of 65.59% year-on-year in 2024, showcasing the effectiveness of the brand's collaborative efforts in niche markets [1][2] Group 3 - The Chinese dermatological skincare market is expanding, with a market size of approximately 33.96 billion yuan, growing by about 3.30% year-on-year despite a slowdown in overall cosmetics retail [2] - Analysts predict that domestic brands will continue to rise as international beauty brands retreat from the market, reinforcing confidence in domestic consumption and the growth of local brands [2] - The company is establishing a framework for sustainable growth amidst industry challenges, focusing on its mission to create a "Chinese skin health ecosystem" and enhancing its brand foundation and ecological layout [2]

作者 罗文利 继2023年营收超过上海家化、三年内完成"冲二摘一"登顶国货美妆企业营收第一的宝座后，珀莱雅股份（603605.SH，下称"珀莱雅"）宣布其2024全年营收 破百亿元。它也是国内第一家营收破百亿的美妆企业。 2025年4月14，珀莱雅宣布设立首席数字官一职，并聘任胡宁波为首任首席数字官。珀莱雅官方介绍，胡宁波拥有超20年的数字化和信息化建设经验，曾任 奢侈品集团LVMH时装部北亚区首席信息官等职位。珀莱雅方面称，数字化将成为企业发展的关键战略。 新履职的首席数字官上任即确定了珀莱雅以ROI（投资回报率）为导向的数字化价值评估体系，以"确保技术投入能够精准转化为可量化的业务增长"。 珀莱雅首席数字官胡宁波告诉经济观察报，该评估体系目前已取得实质性突破：2024年，已应用该模型分析跨渠道营销投放ROI，实现营销资源边际收益的 可视化测算；数据决策平台完成数据基建——单品级盈利追踪、实时数据复盘系统，提升了成本利润透明度。 胡宁波称，这种数字化能力升级不仅让流量分配从经验驱动转向数据驱动，更重要的是将原本离散的营销行为转化为可量化、可追溯的决策依据，为提升流 量利用率提供系统化解决方案。 新设的首席数 ...

Core Insights - L'Oréal reported Q1 2025 sales of €11.73 billion, a 4.4% year-on-year increase, marking the lowest growth rate in five years [1][2] - The "Dermatological Beauty" segment, which had previously shown strong performance, experienced a significant slowdown in growth during this quarter [1][4] Sales Performance - The sales figures for the past five years indicate a consistent increase in Q1 sales, but the growth rate has been declining, with 2025 showing the lowest increase of 4.4% compared to previous years [2] - The breakdown of sales by segment shows: - Mass Cosmetics: €4.279 billion, up 2.5% [3] - Premium Cosmetics: €4.093 billion, up 7.3% [3] - Professional Hair Products: €1.277 billion, up 2.7% [3] - Dermatological Beauty: €2.086 billion, up 3.5% [3] Regional Performance - The European market was a highlight for L'Oréal, with sales reaching €3.915 billion, a 4.9% increase [6] - North America faced a decline, with sales of €2.973 billion, down 1.4% [6] - North Asia showed recovery with sales of €2.953 billion, up 8.4%, despite previous declines [7] Market Challenges - The Chinese market has been a focal point, with L'Oréal experiencing its first negative growth in a decade in 2024, impacting overall performance [2][7] - The rise of domestic brands among Gen Z consumers poses a challenge to L'Oréal's market share, as evidenced by the strong performance of local brand Pechoin [8] - Recent reports indicate significant layoffs in the travel retail department, with claims of up to 50% workforce reduction, reflecting the need for strategic adjustments in response to market changes [9]

4月24日晚，美妆企业珀莱雅发布2024年全年业绩，收入达107.78亿元；净利润达15.52亿元，同比增长 30%。珀莱雅成为美妆行业第一个营收破百亿元的企业。 财报显示，珀莱雅的销售费用依然在增长，甚至达到其上市以来的新高。值得关注的是，在发布全年业 绩前，珀莱雅公布了多项研发动作，或为补齐研发短板。 转自：中国商报 研发投入费用较低 根据财报，珀莱雅的销售费用达到51.61亿元，同比增长29.93%，占营业收入的比例为47.88%。珀莱雅 表示，销售费用增加的主要原因是形象宣传推广费同比增加。 与几乎占据营收"半壁江山"的销售费用相比，研发投入费用较低。自2017年珀莱雅上市至2024年，珀莱 雅的研发费用分别为0.41亿元、0.51亿元、0.75亿元、0.72亿元、0.77亿元、1.28亿元、1.74亿元、2.1亿 元。可以看出，珀莱雅的研发投入虽然有所增加，但是整体仍较低。 在发布2024年年度业绩报告前，珀莱雅宣布组建由四位行业专家领衔的全球研发团队，该团队将统筹杭 州、上海及欧洲三大研发中心，重点布局抗衰老、皮肤健康等领域的核心技术研发。在该消息宣布当 日，珀莱雅股价波动区间为78.01元至79 ...

绿色美妆：构建低碳闭环，引领行业转型 2024年，珀莱雅从可持续产品与消费、循环经济、降低运营环境影响三方面发力，打造从生产端到消费 端的低碳闭环，将绿色转型推向新高度。 在产品可持续升级上，公司对珀莱雅双抗焕亮精华液（双抗精华3.0）的评估显示，其综合可持续等级 达到"四星"。该产品淘汰了对环境有负面影响的成分，采用合欢树皮提取物替代，不仅增强了抗糖、抗 氧功效，还采用替换装设计，外瓶分离便于PP塑料内瓶回收，报告期内减少塑料使用70.64吨。未来， 公司还计划对更多产品进行可持续等级评估。 在绿色包装革新方面，公司通过简化生产工艺、优化结构与装配、提升材料使用等方式，增强包装的可 持续属性。2024年，包装材料中可持续包装比例较2021年提升33.72%，明星单品赋能鲜颜淡纹紧致霜 （3.0版）等5款产品推出环保替换装，全年累计减少塑料使用300吨、金属铝157千克，相当于减少 938.23吨二氧化碳当量排放。 近日，美妆行业龙头企业珀莱雅（603605.SH）正式发布《2024年度可持续发展报告》，这已是其连续 第五年发布此类报告。围绕"美美相生，共向未来"的可持续发展理念，珀莱雅以详实数据与丰富案例， ...

智通财经4月24日电，功效护肤第一股贝泰妮(300957.SZ)持续韧性增长，2024年营业收入57.4亿元，子 品牌薇诺娜宝贝延续高增态势、高端线新秀瑷科缦逆势突围录得65.59%大增。稳核心、强新秀策略与 稳居国货美妆研发投入之最的产品壁垒加注，持续筑强长期价值链向上。 贝泰妮：2024营收韧性增长至57.4亿元 子品牌高增对冲周期压力 ...

Core Viewpoint - The 2023 Shanghai "May 5 Shopping Festival" is the largest in terms of consumer subsidy policies in six years, with extensive coverage across various sectors, aimed at stimulating consumption and supporting economic growth [1][8]. Group 1: Event Overview - The sixth edition of the "May 5 Shopping Festival" runs from late April to the end of June, emphasizing a dual approach of "policy + activities" to drive quality consumption and create demand [4]. - The festival aims to be a significant event for promoting consumption, stabilizing growth, and enhancing confidence, contributing to Shanghai's goal of becoming an international consumption center [4]. Group 2: Key Features - The festival features three main characteristics: extensive market mobilization, integrated discounts, and a fusion of consumption scenarios [5]. - Over a thousand enterprises and thousands of brands will participate, with more than 1,000 unique activities planned to create a vibrant consumption atmosphere [5]. - Multiple subsidies and discounts will be offered across products and services, both online and offline, leveraging existing policies for various sectors [5]. Group 3: Activity Framework - The festival will focus on four major consumption areas: service consumption, bulk consumption, inbound consumption, and new consumption, structured around the "1+15+16+X" activity framework [6]. - Key activities include the "Business Circle Boutique Promotion Festival" and 15 major IP events, with participation from 16 districts, featuring both online and offline activities [6]. Group 4: Subsidy Details - This year's festival has the most extensive subsidy policies, covering a wide range of products, including 12 categories of energy-efficient appliances and various digital products [8]. - For automotive trade-ins, the subsidy for eligible vehicles has increased, with a focus on supporting the replacement of older vehicles [8]. - Discounts on premium categories will be available through consumption vouchers, with potential savings of up to 45% [8]. Group 5: Consumer Engagement - The "Le Shanghai" service consumption vouchers will continue to be issued, focusing on sectors like dining, tourism, and entertainment to enhance service consumption [9]. - Efforts to improve the shopping experience for inbound tourists include optimizing the tax refund process and expanding the range of eligible products [9].

Core Insights - The recent successful launch of Fulejia's new products, including the Brightening Mask and Sodium Hyaluronate Repair Liquid, highlights the brand's strong capabilities in scientific research and innovation [1] - The collaboration between Fulejia's two R&D centers in Harbin and Shanghai is crucial for product iteration speed and market competitiveness, creating a comprehensive innovation system that covers raw material development, formula design, and efficacy verification [1][2] Group 1: R&D Centers - The Harbin R&D center focuses on medical device technology and has established a leadership position in the medical dressing market through advanced research such as supramolecular co-crystal technology and recombinant collagen [1][2] - The Shanghai R&D center, set to be operational in 2024, aims to meet the efficacy upgrade demands in the cosmetics market and integrates global resources with an international perspective [1][2] Group 2: Innovation and Collaboration - The synergy between the two centers is enhanced through the integration of supramolecular technology and academic-industry networks, leading to innovative solutions for industry challenges such as the stability of natural ingredients and low transdermal absorption rates [2] - The collaboration has resulted in the development of patented raw materials like supramolecular white peony seed oil and supramolecular grape seed oil, addressing consumer needs for safe and effective skincare solutions [2] Group 3: Production and Market Impact - The intelligent upgrade of production facilities amplifies the collaborative effects of the R&D centers, with automated production lines and smart traceability systems ensuring product traceability from raw material origin to experimental data [2] - This integrated "research-production-sales" model significantly enhances the efficiency of new product development, with over ten new products launched in August of the previous year, receiving positive market feedback [2] Group 4: Industry Implications - Fulejia's dual R&D center model is reshaping the innovation logic in the Chinese beauty industry, establishing a competitive barrier that is difficult to replicate and providing a transformative example driven by research value [3] - The combination of solid research from Harbin and cutting-edge insights from Shanghai demonstrates that breaking regional boundaries and activating innovation resonance is essential for sustaining China's beauty narrative in the global technology competition [3]

Core Viewpoint - The company Fulejia continues to experience a decline in net profit for the second consecutive year, with a reported decrease of 11.77% in 2024, attributed primarily to increased marketing expenses and a competitive business environment [1][3][4]. Financial Performance - In 2024, Fulejia achieved operating revenue of 2.017 billion yuan, a year-on-year increase of 4.32%, while the net profit attributable to shareholders was 661 million yuan, reflecting a decrease of 11.77% [3]. - The company reported a net profit decline of 11.56% in 2023, despite a revenue growth of 9.29% during the same period [3]. - Marketing expenses have significantly increased, with 2024 sales expenses reaching 748 million yuan, up 40.53% from 2023, which had sales expenses of 532 million yuan, an increase of 36.44% [3]. Market Environment - The competitive landscape is characterized by reliance on traffic operations and price competition, leading to increased costs and reduced profit margins [4]. - Fulejia's financial report indicates a significant dependence on promotional events and influencer marketing, which, while effective for short-term sales, contribute to rising operational costs over time [4]. Historical Context - Founded in 2015, Fulejia quickly rose to prominence in the beauty industry, particularly in the medical dressing sector, with a substantial portion of its revenue derived from medical products [5][6]. - The company experienced rapid revenue growth from 374 million yuan in 2018 to 1.342 billion yuan in 2019, and further to 1.585 billion yuan in 2020 [6]. Research and Development - Fulejia's R&D expenses have seen significant growth, with 2023 expenditures reaching 32.84 million yuan, but the growth rate slowed to 6.04% in 2024 [9]. - The proportion of R&D expenses relative to total revenue remains low, at less than 2% in 2024, compared to over 5% for competitors like Huaxi Biology [9]. Future Outlook - The company plans to continue its dual-line R&D strategy focusing on both medical devices and cosmetics, aiming to enhance brand image and market share through refined operations and product quality [9]. - Industry experts suggest that Fulejia needs to differentiate itself and explore new avenues, such as beauty devices, to maintain its competitive edge as its initial advantages diminish [10].

慢（slow）、小（small）、软（soft）、社交（sociable）、可持续的（sustainable）。 首先是， 慢(Slow) 。 现在这个社会是快节奏的，工作是快节奏的、时尚是快时尚的、餐是快餐，所以有人提倡慢 餐。 什么是慢餐？我们要吃当地产的，并且自己去烹饪、去吃。 其次，是 小（small） 。 第五消费时代正在加速到来，这是因为科技的变化，比如说AI的盛行。 这是 被誉为 "日本消费社会研究第一人"的三浦展 ，在《孤独社会》一书中提到的。 那么，什么是第五消费时代？ 第五消费时代的关键词，可以用"5个S"来表述： 过去30年，全球建了很多大型购物中心、商超，通过大的硬件设施在其中进行消费，这样的模 式盛行于全球。 但是未来会怎样？未来人们越来越不喜欢大盒子式的消费场所，而是街边各种有特色的小店， 慢悠悠地去逛、去吃，这样的方式可能更加适合未来人的价值观。 如今因为AI技术，无人化逐渐盛行，特别是在疫情当中，大家一星期可能和别人说不上一句 话。所以，新冠也使很多人认识到了和别人交流有多么重要，和别人的沟通和交流是另外一个 "S"(Sociable) 就是社交。 还有一个就是全球注重 可持续 ...