Group 1 - The core point of the article is that Atnini Group has signed a strategic cooperation agreement with Guangzhou Baiyunshan Weiyi Industrial Co., Ltd. to jointly develop products in the health sector and expand market reach, with a cooperation period of one year [1][2] - The strategic cooperation will focus on joint product development in areas such as natural plant extracts, functional health products, and personal care products [1] - Baiyunshan Weiyi will provide brand marketing support, including brand strategy, trademark licensing, and technical consulting for sales and market promotion related to health products [1] Group 2 - The cooperation aligns with Atnini Group's business development strategy and long-term layout in the health industry, aiming to leverage the strengths of both companies for synergistic effects [2] - This partnership is expected to enrich Atnini Group's product portfolio and enhance its core competitiveness in the health sector, potentially opening new revenue streams [2] - The board of directors believes that the agreement with Baiyunshan Weiyi is in the overall interest of the company and its shareholders [2]

Group 1 - The core point of the article is the strategic cooperation agreement signed between Yatani Group and Guangzhou Baiyunshan Weiyi Industrial Co., Ltd. to jointly develop products in the health sector and expand market reach [1][2] Group 2 - The strategic cooperation agreement is set for a duration of one year and focuses on joint product development in areas such as natural plant extracts, functional health products, and personal care products [1] - The collaboration aims to leverage Baiyunshan Weiyi's brand marketing support, including brand strategy, trademark licensing, and technical consulting for sales and market promotion [1] - This partnership aligns with the company's strategy to expand its beauty and health product sales, enhancing its core competitiveness in the health sector and opening new revenue streams [2]

Core Viewpoint - The strategic cooperation agreement between Yatani Group and Guangzhou Baiyunshan Weiyi Industrial Co., Ltd. aims to jointly develop products in the health sector and expand market reach, with a focus on innovation and international marketing support [1][2]. Group 1: Strategic Cooperation Details - The cooperation agreement is set for one year, focusing on joint research and development of products in the health sector, including natural plant extracts, functional health products, and personal care items [1]. - Baiyunshan Weiyi will provide brand marketing support, including brand strategy, trademark licensing, and technical consulting for sales and market promotion related to health products [1]. Group 2: Business Development Strategy - The partnership aligns with the company's strategy to expand its beauty and health product sales, enhancing its long-term positioning in the health industry [2]. - The board believes that this collaboration will leverage the company's international market advantages and Baiyunshan Weiyi's technical and brand strengths, creating synergies that could enrich the product portfolio and open new revenue streams [2].

本 公 告 乃 由 雅 天 妮 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）自 願 向 本 公 司 股 東（「股 東」）及 本 公 司 潛 在 投 資 者 作 出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Artini Holdings Limited 雅天妮集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：789） 自願公告 關於與白雲山維一簽訂戰略合作協議 本 公 司 董 事（「董 事」）會（「董事會」）欣 然 公 告，於 二 零 二 五 年 九 月 十 九 日，本 公 司 與 廣 州 白 雲 山 維 一 實 業 股 份 有 限 公 司（「白雲山維一」）簽 署 了 一 份 戰 略 合 作 協 議 （「合作協議」），旨 在 共 同 研 發 大 健 康 領 域 產 品 及 拓 展 市 場（「戰略合作」）。合 作 期 限 為 一 年。 白 雲 ...

Group 1 - The core viewpoint of the news is that Jeya Co., Ltd. has shown significant trading activity and financial performance, with a notable increase in stock price and financing activities [1][2] - On September 15, Jeya Co., Ltd. experienced a stock price increase of 3.95%, with a trading volume of 134 million yuan [1] - The financing buy-in amount on the same day was 17.33 million yuan, while the financing repayment was 17.05 million yuan, resulting in a net financing buy of 283,100 yuan [1] Group 2 - As of September 15, the total financing and securities balance for Jeya Co., Ltd. was 45.90 million yuan, accounting for 1.16% of the circulating market value, indicating a high level compared to the past year [1] - The company’s main business revenue composition includes wet wipes at 84.62%, facial masks at 11.95%, and personal care products at 1.86% [1] - For the first half of 2025, Jeya Co., Ltd. achieved an operating income of 310 million yuan, representing a year-on-year growth of 8.79%, and a net profit attributable to shareholders of 32.58 million yuan, up 22.55% year-on-year [2]

在这个言必谈功效的时代，身体护理、洗护等众多品类正在被"护肤"深度改造，各大美妆品类 的"护肤化"，背后的本质是品类科学化、精准化的进阶迭代。 然而，护发品类的功效成分利用率较低，是一个巨大问题，潘婷科研人员发现受损头发的营养 吸 收 率 仅 为 健 康 头 发 的 5 0% ， 撇 开 渗 透 谈 功 效 ， 无 异 于 " 隔 靴 搔 痒 " 。 但 消 费 者 对 更 深 度 、 高 效、彻底的发质护理的需求仍未得到有效满足。 9月1 2日，中国市场No . 1护发品牌——潘婷在上海文化地标上生·新所举办潘婷奇迹「新」生 之夜，并发布了全新潘婷胜肽泡弹系列，让高活胜肽成分在护发品类中的渗透和精准修护成为 可能。 潘婷此举也标志着，护发品类迈入了「胜肽」新周期。 在护肤领域，成分的深度内卷以及成分、功效、场景的深度结合，正在为消费者带来更极致的 产品体验，且在这个过程中，诞生了许多明星成分和超级单品。与之相应的是，成分与功效的 进阶，也能不断拓宽品类的上限。 因此，"护肤化"正在吸引身体护理、头皮护理等品类的跟进。 然而，在这一轮全美妆品类的功效进阶中，护发品类囿于功效瓶颈，被锁在了旧时代。具体表 现为， ...

Core Insights - The article emphasizes the importance of profit in business, highlighting that many companies are now realizing that profitability is crucial for attracting investors and sustaining growth [1] - It introduces L'Occitane as a case study of a brand that successfully transformed from a fast-moving consumer goods (FMCG) company to a luxury brand in China, achieving a consistent gross margin above 80% since its entry in 2005 [1][5] Group 1: Brand Strategy - L'Occitane's entry into the Chinese market was marked by a strategic positioning in high-end shopping districts, adjacent to luxury brands like LV and Gucci, which helped establish its premium image [6] - The brand utilized a narrative around Provence culture and natural ingredients, particularly shea butter, to create a compelling story that resonated with Chinese consumers [3][6] - L'Occitane's pricing strategy included high price points for its products, with hand creams starting at 200 RMB, reinforcing its luxury positioning [6] Group 2: Unique Sales Channels - The brand's success is attributed to its innovative use of "high-end special channels," which include partnerships with private banks, luxury hotels, and high-end gift markets, allowing it to reach affluent consumers without direct competition in traditional retail [22][24] - L'Occitane's products are integrated into various high-end settings, such as luxury hotels and banks, enhancing brand visibility and consumer perception of quality [22][23] - The brand has also ventured into unique markets, such as medical supplies, where its products are used in high-end medical equipment, showcasing its versatility and broad appeal [28] Group 3: Lessons for Other Brands - The article suggests that other brands can learn from L'Occitane's approach to building a high-end brand image through strategic channel selection and storytelling [29] - It highlights the importance of timing in entering high-end channels, advocating for early engagement to establish strong partnerships [30] - The concept of creating a "closed loop" between brand image and sales channels is emphasized, where every channel serves both branding and sales purposes [32]

Group 1 - A consumer complaint arose regarding the translation of "virgin hair" on a Schwarzkopf product, which was inaccurately translated as "处女发质" instead of the more appropriate "原生发质" [2] - Schwarzkopf's official customer service acknowledged the translation issue and expressed regret for the discomfort caused to consumers, stating that a comprehensive update of product descriptions is underway [5] - The company emphasized the importance of accurate communication and has initiated a review process to prevent similar issues in the future [5] Group 2 - Henkel Group, which owns Schwarzkopf, has been in operation since 1876 and is divided into two main business segments: Adhesive Technologies and Consumer Brands [7] - The Consumer Brands segment includes well-known brands such as Persil, Bref, and Schwarzkopf [7] - In February 2024, Henkel announced the acquisition of the Sassoon brand and its hair care business in Greater China from Procter & Gamble [7] Group 3 - According to the latest financial report, Henkel's sales for the first half of 2025 decreased by 3.8% to €10.402 billion, with organic sales slightly down by 0.1% [8] - The Consumer Products segment accounted for approximately 47% of total sales, with a year-on-year decline of 6.8% to €4.907 billion and organic sales down by 1.6% [8] - Despite the overall decline, the hair care segment experienced organic sales growth, while other consumer product areas saw declines [8]

今天分享的是：2025头皮护理行业消费趋势报告 报告共计：30页 2025年头皮护理行业消费趋势报告总结 随着国民健康意识提升，头皮护理市场高速增长，2023-2024年市场规模从176亿元增至210亿元，社媒热度同比激增158%，防脱、控油、舒缓瘙痒成核心需 求，成分安全与天然植萃偏好显著，行业细分趋势与差异化竞争格局渐显。 消费者层面，年轻群体是核心驱动力，18-24岁消费者占比52.4%，超6成国民自发关注头皮健康，8成会专门养护。头皮问题集中在脱发（65.6%）、头屑 （52.3%）、油头（45.9%），选购时优先关注功效（73.3%）、成分（66.8%）与使用体验（42.8%）。防脱固发、减轻瘙痒是明星卖点，氨基酸、米诺地尔 为热门成分，近9成消费者期待青蒿、侧柏叶等天然植物成分。使用场景以日常（74.1%）和工作（67.6%）为主，控油止痒、清爽蓬松的体验最受关注，同 时80.5%消费者希望护理过程缓解疲劳，追求情绪价值。 市场发展呈现三大趋势：一是"头脸一张皮"概念深化，头皮抗衰社媒种草作品量增长105%，华熙生物、Off&Relax等品牌纷纷布局；二是细分人群需求凸 显，青少年头皮护理相关作品 ...

Core Viewpoint - The company reported a stable performance in the first half of 2025, with significant growth in the baby care segment and effective product expansion strategies [1][2][3]. Financial Performance - In H1 2025, the company achieved revenue of 895 million yuan, net profit attributable to shareholders of 188 million yuan, and net profit excluding non-recurring items of 177 million yuan, representing year-on-year growth of 20.31%, 4.16%, and 0.86% respectively [1]. - In Q2 2025, the company recorded revenue of 655 million yuan, net profit attributable to shareholders of 143 million yuan, and net profit excluding non-recurring items of 138 million yuan, with year-on-year changes of +13.46%, -0.85%, and -3.94% respectively [1]. Product Performance - The company’s product categories showed varied performance: mosquito repellent products generated 375 million yuan in revenue (+13.4% YoY), baby care products reached 405 million yuan (+38.7% YoY), while essential oils saw a decline to 92 million yuan (-14.6% YoY) [2]. - The company maintained a strong market share across major e-commerce platforms and expanded offline channels, including a new partnership with Sam's Club, leading to rapid growth in non-platform distribution [2]. Profitability and Cost Structure - The company’s gross margin stood at 58.0%, a decrease of 0.6 percentage points year-on-year. The sales, management, R&D, and financial expense ratios were 30.3%, 1.81%, 1.83%, and -0.4% respectively, with year-on-year changes of +1.5, -0.1, -0.2, and +2.4 percentage points [2]. - The decline in net profit margin to 20.9% represented a year-on-year decrease of 3.2 percentage points, attributed to increased marketing expenditures and changes in channel structure [2]. Strategic Initiatives - The company continues to enhance its product matrix, launching over 40 new or upgraded products in H1 2025, while focusing on core categories like baby care and mosquito repellent, and entering new segments such as children's sunscreen and youth skincare [3]. - Significant capital investments are being made in the "Runben Biotechnology R&D Production Base Project" and the "Runben Intelligent Manufacturing Future Factory Project," strengthening the integrated R&D and production capabilities for long-term growth [3]. Investment Outlook - As a leading player in the domestic mosquito repellent and baby care sectors, the company is expected to benefit from its strong brand recognition and integrated model, which creates a competitive edge [3]. - Despite short-term pressure on profit margins due to increased marketing investments, the company’s multi-category and all-channel strategy is anticipated to enhance market share and provide clear growth pathways [3]. - The profit forecast for 2025-2027 has been slightly adjusted to 330 million yuan, 420 million yuan, and 530 million yuan respectively, with corresponding PE ratios of 37, 28, and 23 times [3].