Core Viewpoint - The article discusses the concept of "oil-based skincare" and its effectiveness, emphasizing that while certain oils can be beneficial, they should not be relied upon solely for hydration and must be used in conjunction with other moisturizing ingredients [1][12]. Group 1: Understanding "Oil" in Skincare - The term "oil" in skincare refers to specific types of oils, primarily plant oils (like coconut oil and jojoba oil) and mineral oils (like dimethicone), which can help moisturize and protect the skin [3][5]. - Some oils, such as olive oil, may actually harm the skin barrier due to their fatty acid structure [3]. Group 2: Mechanism of "Oil-Based Skincare" - The skin naturally contains lipid substances that help maintain its barrier; using additional oils can help restore this lipid layer, preventing moisture loss and dryness [7]. - However, oils alone do not provide hydration as they do not contain water, and relying solely on them can lead to continued dryness, especially in arid conditions [9]. Group 3: Limitations of Using Oils - Excessive use of oils can exacerbate acne and other skin issues, as they may promote the growth of acne-causing bacteria [10]. - Some oils may not be easily absorbed by the skin, leading to a greasy feeling without providing adequate moisture [11]. - Oils primarily create a barrier to prevent moisture loss but do not offer additional benefits like hydration or repair [11]. Group 4: Selecting Moisturizing Products - Effective moisturizing products should focus on providing sufficient hydration and preventing moisture loss, rather than just containing oils [14]. - Key ingredients to look for in moisturizers include hyaluronic acid, glycerin, ceramides, and plant oils, which can enhance hydration and skin barrier function [18][20][21][22]. Group 5: Tailoring Moisturizers to Skin Type - Different skin types require specific formulations: dry skin benefits from rich, hydrating products; oily skin should opt for lighter formulations; and sensitive skin needs gentle, low-irritant products [14][15][16]. - Seasonal and climatic conditions should also influence product choice, with heavier creams preferred in dry seasons and lighter lotions in humid conditions [24]. Group 6: Importance of Brand and User Experience - Choosing reputable brands with clinical validation can provide assurance of product efficacy [26]. - Personal experience and feedback from similar skin types are crucial in determining the effectiveness of a moisturizer [27].

需要注意的是，养乐多海外旗舰店并不是销售消费者所熟知的养乐多饮料而是化妆品，目前仅剩卸妆乳、化妆水、乳液这三种类型的产品在售。 此外Yakult（养乐多/益力多）化妆品小红书账号也发布了闭店通知，即将在12月24日正式关闭跨境EC店铺。 据公开信息显示，养乐多/益力多化妆品诞生于1954年，专研益生菌护肤。不过直至闭店，仍有很多消费者不知道养乐多竟然还有护肤品业务，并且经营了 近70年之久。 近日，Yakult海外旗舰店发布了闭店通知，因店铺调整运营等原因，将于2025年12月24日正式暂停营业。 2020年7月，养乐多化妆品以"Yakult海外旗舰店"正式入驻天猫国际，进军中国市场。彼时养乐多上架了14个品牌、43个SKU，涵盖乐珂多（LACTDEW）、 帕瑞奥（PAEABIO AC）、晶瓷婷（CRYSTANCE）等多个子品牌，产品覆盖水乳、精华、面膜等全品类护肤线及牙膏品类，价格跨度从178元到2380元。 不过养乐多在饮料上的优势并未转化为护肤品认知。目前Yakult海外旗舰店粉丝数为28796个，Yakult（养乐多/益力多）化妆品小红书账号粉丝数为1.6万。 ...

Company Overview - Lin Qingxuan has submitted an application to list on the main board of the Hong Kong Stock Exchange, with CITIC Securities and Huatai International as joint sponsors [1] - The company is a high-end domestic skincare brand in China, focusing on the anti-wrinkle and firming skincare market, characterized by its use of natural camellia flower ingredients and the innovative "oil-based skincare" concept [1] Product Performance - Lin Qingxuan launched its camellia facial essence oil in 2014, with cumulative sales exceeding 45 million bottles, maintaining the top position in the national facial essence oil product rankings for 11 consecutive years [1] - It is the only facial essence oil that has achieved over 100 million RMB in retail sales for 8 consecutive years [1] Product Range and Market Position - As of June 30, 2025, Lin Qingxuan will offer 230 SKUs, covering a full range of high-end skincare solutions including essence oils, creams, toners, emulsions, serums, masks, and sunscreens [1] - According to data from Zhi Zhi Consulting, Lin Qingxuan ranks first among all high-end domestic skincare brands in China by retail sales in 2024, with a market share of 1.4% [1] - The company is also the only domestic brand to enter the top 15 high-end skincare brands in China (including both domestic and international brands), ranking 13th [1] Market Growth Potential - The market size for high-end skincare products in China is expected to grow from 114.4 billion RMB in 2024 to 218.5 billion RMB by 2029, with significant growth potential in the high-end anti-wrinkle and firming products market and the facial essence oil market, projected to reach 155.5 billion RMB and 13.9 billion RMB respectively by 2029 [1] Sales Strategy - The company has established an OMO (Online-Merge-Offline) integrated sales network, combining online direct sales, online retailers, and offline stores, including direct stores, partner stores, retailers, corporate clients, and distributors [1]

Core Viewpoint - The company, Fulejia, announced on September 23 that its products are primarily divided into two categories: medical devices and functional skincare products, featuring a diverse range of formulations including masks, waters, serums, lotions, sprays, single-use products, and eye masks [2] Group 1 - The company offers a wide variety of product forms, which enhances its market coverage [2] - The product categories include both medical devices and functional skincare, indicating a diversified product portfolio [2]

Core Viewpoint - The company, Fulejia, is experiencing a decline in revenue and net profit for the first half of 2025, but there are signs of recovery in the second quarter due to sales channel optimization and product price adjustments [1][2]. Group 1: Financial Performance - For the first half of 2025, the company reported a revenue of 863 million yuan, a year-on-year decrease of 8.15% [1] - The net profit attributable to shareholders was 230 million yuan, down 32.54% year-on-year [1] - The net profit after excluding non-recurring gains and losses was 166 million yuan, a decrease of 48.66% year-on-year [1] - Basic earnings per share were 0.44 yuan [1] Group 2: Sales Channels and Strategies - The company has implemented a multi-channel sales strategy, integrating online and offline sales, covering major e-commerce platforms like Tmall, Douyin, JD.com, and Pinduoduo, as well as offline medical institutions and retail stores [1] - In the second quarter of 2025, the company saw a significant revenue increase of 86.68% compared to the first quarter, indicating a recovery in performance [2] - The company is focusing on optimizing offline distribution channels, with over 99% of revenue coming from the distribution model, which incurs minimal sales expenses [2] Group 3: Product Development - The company is enhancing its product line, particularly in non-patch products, with a steady increase in their revenue share [3] - The establishment of a research and development center in Shanghai is expected to accelerate product innovation and expansion [3] - The company has completed the third round of injections for a project involving humanized collagen freeze-dried fibers, which is currently in the data cleaning and report preparation stage [3]

Core Viewpoint - The performance of Fulejia, known as the "first stock in medical beauty masks," has significantly declined, with a notable drop in revenue and profit in the first half of 2025 [2][7]. Financial Performance Summary - Fulejia reported a revenue of 863.11 million yuan, a year-on-year decrease of 8.15% [3]. - The net profit attributable to shareholders was 229.66 million yuan, down 32.54% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 166.17 million yuan, a substantial decline of 48.66% [3]. - The net cash flow from operating activities was 161.63 million yuan, down 54.69% [3]. - Basic and diluted earnings per share were both 0.44 yuan, a decrease of 32.31% [3]. - Total assets decreased by 6.33% to 5.70 billion yuan, while net assets attributable to shareholders fell by 3.01% to 5.49 billion yuan [3]. Reasons for Revenue Decline - The company attributed the revenue decline to the optimization of offline channels and increased promotional expenses, which surged by 39.56% to 420 million yuan, accounting for 48.67% of revenue [4][16]. - R&D investment was only 23.33 million yuan, representing a mere 2.7% of revenue, indicating a heavy reliance on promotional spending rather than innovation [4][21]. Market Competition and Product Performance - Fulejia's medical device segment generated 238.29 million yuan, a significant drop of 48.07%, while the cosmetics segment saw a revenue increase of 29.95% to 624.82 million yuan [8][9]. - The competition in the cosmetics industry is intensifying, with major companies entering the medical beauty sector, leading to price wars [9][11]. Sales Channel Shift - The company is shifting its sales strategy from offline to online channels, with online sales contributing 80.50% of total revenue, a 47.11% increase year-on-year [14][15]. - Offline sales dropped significantly by 63.99%, now accounting for only 19.50% of total revenue [14]. Future Strategies - Fulejia plans to focus on expanding its product line in the medical device sector and enhancing brand development through sub-brand incubation and flexible marketing strategies [11][12]. - The company aims to increase its online presence and sales, although it has been criticized for its late transition to online channels [18][19]. R&D and Regulatory Challenges - Fulejia's R&D investment remains low compared to peers, with only 31 patents approved and limited medical device registrations [22]. - Recent regulatory changes may impact the classification of medical dressings, potentially affecting the company's product offerings [22].

Core Viewpoint - The article provides a skincare guide for hot and humid weather, emphasizing the importance of adjusting skincare routines and product choices to alleviate skin issues caused by high temperatures and humidity [1]. Skincare Recommendations - Choosing the right sunscreen is crucial, with recommendations for SPF30+ and PA++ for daily use, and SPF50+ and PA++++ for prolonged sun exposure activities [5]. - Daily skin cleansing is essential due to increased oil secretion in hot weather, with advice to wash the face twice daily and use appropriate cleansing products based on skin type [7]. - It is advised to avoid thick application of skincare products in summer to prevent pore blockage and acne [9]. Mask Usage Guidelines - For regular skin, masks should be used 2 to 3 times a week, while sensitive or problematic skin should limit usage to 1 to 2 times a week, with consultation from a dermatologist if necessary [10]. - Masks should be applied for 15 to 20 minutes, with special materials allowed to extend up to 30 minutes, and sensitive skin should limit application to 10 to 15 minutes [10]. Common Skincare Misconceptions - Overuse of oil-absorbing sheets can stimulate more oil production; it is recommended to limit use to no more than three times a day and to hydrate afterward [12]. - Washing the face with ice-cold water can cause capillary expansion, leading to redness; using lukewarm water is advised [12]. - Skincare products should be chosen based on skin type, and sensitive skin should avoid high concentrations of acids or alcohol [13].

Group 1 - Jiangning District has completed 36 projects and introduced new projects with a total investment exceeding 56 billion yuan in the first half of the year [1][2] - The Tianyin Health Innovation Park has been fully constructed, attracting nearly 10 companies in the biopharmaceutical sector, with a total building area of 395,000 square meters [1] - The high-end cosmetics production base and Huakang Zhenyan headquarters project, with a total investment of 1 billion yuan, will produce 25 million sets of cosmetics annually upon completion [2] Group 2 - Jiangning High-tech Zone successfully introduced 33 quality projects with a total investment of 10 billion yuan in the first half of the year, maintaining a leading position among high-tech zones in the city [2][3] - The Binjiang Economic Development Zone has signed 24 projects with investments over 1 billion yuan, totaling 4.02 billion yuan, and all major projects have resumed construction [3] - Jiangning District is focusing on a detailed monthly schedule to accelerate the development of major enterprises and improve project approval efficiency by 38% [4]

Core Viewpoint - Lin Qingxuan Biotechnology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, focusing on the anti-wrinkle and firming skincare market with a strong emphasis on high-end skincare solutions based on natural camellia ingredients [1][2]. Financial Performance - From 2022 to 2024, Lin Qingxuan's revenue grew from 691 million RMB to 1.21 billion RMB, while the net profit attributable to the parent company improved from a loss of 5.87 million RMB to a profit of 187 million RMB [7][9]. - The gross profit margin increased from 78% to 82.5% during the same period [8]. Sales and Distribution - Sales and distribution expenses reached 688 million RMB in 2024, exceeding 50% of the total revenue [1][9]. - The revenue from offline channels decreased from 54.7% in 2022 to 40.8% in 2024, while online channel revenue increased from 45.2% to 59.1% [4][6]. Product Portfolio - As of December 31, 2024, Lin Qingxuan offered 188 SKUs, with significant revenue contributions from essence oils, creams, lotions, and masks, each accounting for over 10% of total revenue [3][4]. Market Position - In 2024, Lin Qingxuan ranked first among all high-end domestic skincare brands in China by retail sales and was the only domestic brand among the top 15 high-end skincare brands, which included both domestic and international brands [2][3]. Use of Proceeds - The funds raised from the listing will be used for brand value enhancement, deepening the multi-channel sales network, and strengthening production and supply chain capabilities [10].

Group 1: Company Updates - Zhongxi Culture (INHI) has completed overseas listing filing, planning to issue 1.25 million shares at a price range of $4 to $5 per share, aiming to raise between $5 million and $6.25 million [1] - Meihua Chuangfu (MGRT) plans to issue 3.75 million shares at a price range of $4 to $5 per share, with a fundraising target of $15 million to $18.75 million [2] - Pitanium (PTNM) intends to issue 1.75 million shares at a price range of $4 to $5 per share, seeking to raise between $7 million and $8.75 million [4] Group 2: Financial Performance - Zhongxi Culture reported revenue of $20.63 million for 2024, a slight decrease from $21.03 million in the previous year, with net profits of $4.19 million compared to $3.28 million [2] - Meihua Chuangfu generated revenue of $3.33 million for the fiscal year ending September 30, with a net profit of $0.4 million [4] - Pitanium achieved revenue of $9.59 million for the fiscal year ending September 30, with a net profit of $1.14 million [5]