证券代码：300146 证券简称：汤臣倍健 汤臣倍健股份有限公司 | | 运营和投放策略，通过产品创新打造高价格带产品，搭建自主可控直播间对 | | --- | --- | | | 品牌心智进行沉淀，增加商品卡的销售和合理比例的达播合作提升公司在 | | | 抖音平台的销售规模。货架电商则会通过运营提效、增加专供品加大产品区 | | | 隔等方面助力销售。 | | | Q：2025 年全年费用指引，费用投放是否集中在下半年 | | | 公司遵循全费用/全费比动态管控原则，注重费用投产比，确保预算与 | | | 收入动态匹配。在今年既定预算目标相对谨慎稳定的整体基调下，公司将进 | | | 一步提升精细化管理能力，通过月度预算管控和销售复盘，根据实际情况动 | | | 态优化资源分配，确保费用投放的合理性。 | | | Q：蛋白粉、健力多迭代情况 | | | 两个大单品的迭代工作在去年年底基本结束，但消费环境和行业处于 | | | 持续变化中，新产品的销售暂时未达到公司预期，还需要继续关注。 | | | Q：药店渠道医保政策实施力度及持续影响 | | | 目前来看医保管理趋严已成常态化。行业层面，从人均消费额、 ...

Core Viewpoint - The company is experiencing growth in the health supplement market, driven by increasing health awareness and consumer demand for preventive healthcare products, leading to a strategic focus on product innovation and market expansion [3][5][19]. Company Overview - The company operates in the pharmaceutical manufacturing industry, specifically in the OTC (over-the-counter) drug and health supplement sectors, with its main product being the 21 Jinweita Multivitamin [3][4]. - The health supplement market in China is expanding, with significant growth potential compared to developed countries, as consumer awareness and demand for dietary supplements increase [4][7]. Industry Trends - The non-prescription drug market is benefiting from a shift towards preventive healthcare, supported by national policies promoting health awareness and consumer education [5][6]. - The aging population in China is driving demand for health management products, with a notable increase in the elderly demographic, which is expected to further boost the health supplement market [8][9]. Business Performance - The company reported a revenue of 641 million yuan, a year-on-year increase of 10.23%, and a net profit of 91.83 million yuan, up 7.24% from the previous year [19]. - The company is focusing on expanding its product matrix in the health supplement sector, enhancing its brand presence, and optimizing its sales channels to improve market competitiveness [10][14]. Product and Brand Strategy - The company has a diverse product range, primarily focusing on vitamins and minerals, and is committed to continuous research and development to meet varying consumer needs [11][12]. - The brand "21 Jinweita" has established itself as a leading name in the vitamin and mineral sector, with recognition in various industry awards and rankings [13]. Marketing and Sales Network - The company has developed a comprehensive marketing network, utilizing both online and offline channels to reach consumers effectively, including major e-commerce platforms [14]. - The company is adapting its sales strategies to align with changing consumer behaviors and preferences, ensuring broad market coverage [14]. Management and Innovation - The company boasts a professional management team with extensive experience in the health product sector, focusing on innovation and compliance with industry standards [15]. - The company has established a robust core technology system for product formulation and quality control, continuously improving its capabilities [16].