Core Insights - The company reported a revenue of 1.46 billion RMB for the first half of 2025, representing a year-on-year growth of 28.2% [1][2] - The growth is attributed to structural changes in the Chinese consumer healthcare market, with emotional value becoming a key factor in consumer decision-making [1][6] - The company's "Double Beauty + Double Health" business model has shown strong adaptability, with a significant increase in demand for health services among female consumers [1][4] Financial Performance - The net profit for the first half of 2025 reached 170 million RMB, up 35.5% year-on-year, with an adjusted net profit margin of 13.1%, a historical high [2][4] - Cash and cash-equivalent assets amounted to 2 billion RMB, reflecting a 27.5% increase, while operating cash flow surged by 84.4% to 410 million RMB [2][4] - The gross profit for the period was 720 million RMB, a 34.7% increase, with a gross margin of 49.3%, up 2.3 percentage points [4][5] Business Segments - The beauty and health services segment generated 810 million RMB in revenue, a 29.6% increase, with a gross margin of 42.1% [4][5] - Medical beauty services revenue rose to 500 million RMB, a 13.0% increase, with a gross margin of 56.9% [5] - The sub-health medical services brand, Yan Yuan Medical, saw revenue soar by 107.8% to 150 million RMB, marking its first time exceeding 10% of total revenue [5][7] Consumer Trends - Emotional value is increasingly influencing the consumption decisions of younger generations, with the emotional economy projected to reach 2.3 trillion RMB by 2025 [1][6] - The target demographic includes women in high-tier cities, who are increasingly focused on self-care and emotional well-being [6][7] - The average spending per visit for members was 1,086 RMB, with high-end beauty services averaging 1,166 RMB per visit, indicating strong consumer willingness to invest in self-care [6][7]