Core Viewpoint - Yunnan Betaini Biotech Group Co., Ltd. reported a resilient performance in the first half of 2025 despite challenges in the cosmetics industry, focusing on long-term value and quality improvement rather than short-term growth [1][2] Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.372 billion yuan and a net profit attributable to shareholders of 247 million yuan [1] - The operating cash flow reached 347 million yuan, representing a year-on-year increase of 145.70%, indicating significant improvement in cash return capabilities [2] - The gross profit margin remained stable, and inventory structure continued to improve, reflecting effective management of operational efficiency [1][2] Group 2: Strategic Transformation - The cosmetics industry is undergoing a shift from marketing-driven growth to product-driven and value-driven competition, prompting the company to adjust its strategy for quality enhancement and structural optimization [2] - The company is focusing on long-term value by restructuring product barriers through R&D and enhancing operational efficiency via refined channel management [1][2] Group 3: R&D and Innovation - The company increased its R&D investment, with a research expense ratio of 4.91%, up by 0.83 percentage points year-on-year, positioning it as a leader in the industry [3] - Betaini is deepening its "industry-university-research-medical" collaborative innovation mechanism, establishing a comprehensive R&D chain covering basic research, raw material development, formulation innovation, and clinical evaluation [3] - The company has registered 4 new raw materials in the first half of 2025, bringing the total to 16, which is expected to create a technological moat [3][4]

证券日报网讯贝泰妮（300957）8月20日在互动平台回答投资者提问时表示，公司始终专注于云南特色 植物资源的研发与产业化应用，核心深耕人类功效性护肤品领域。通过融合植物学、生物学及皮肤学前 沿科技，持续强化"产学研医"体系在化妆品新原料转化中的领先优势。目前研发资源聚焦于人类皮肤健 康需求，暂未布局其他生物形态的皮肤研究领域。 ...

Core Insights - The 51st CCBE Chengdu Beauty Expo has commenced with a focus on "New Beauty Industry, Creating Business Opportunities," featuring 752 companies and over 4500 domestic and international brands [1] - The "National Brand Accompanying Plan" aims to provide a comprehensive growth platform for national brands through an innovative exhibition-media integration model [1] Group 1: Empowerment and Brand Development - The "National Brand Accompanying Plan" employs a rigorous four-level screening mechanism to evaluate brands based on enterprise qualifications, product strength, and social responsibility, offering tailored empowerment plans over 3-5 years [3] - The plan integrates resources from national media such as CCTV and Xinhua News Agency, creating a full-service system from content production to effect conversion, enhancing brand value in the beauty industry [3][5] - The plan addresses the pain point of beauty brands focusing more on products than branding, providing professional solutions to convert technological advantages into brand value [3] Group 2: Strategic Partnerships and Media Exposure - A strategic agreement was signed between the Sichuan Beauty and Hairdressing Industry Association and the "National Brand Accompanying Plan" to provide rare resources such as special reports and documentary filming for participating brands [5] - The expo featured a "Brand Service Consultation" area, where over 100 companies booked one-on-one brand diagnostics, highlighting the importance of media endorsement in enhancing brand trust [5] Group 3: Case Study of Empowerment - Shengzhuang brand, a leader in technology-enabled health management in the beauty industry, has over 20 years of experience in cosmetic and pharmaceutical R&D, with annual revenue exceeding 2 billion [8] - The company collaborates with Sichuan Agricultural University on customized services and products, achieving a 40% increase in average transaction value and over 65% customer repurchase rate [9] - Shengzhuang has been recognized as one of the "Top Ten Brands in Beauty Health Management" in China for three consecutive years, with a 45% year-on-year revenue growth in 2024 [9] Group 4: Industry Transformation and Expo Evolution - The CCBE has evolved from a product trading platform to an industry ecological hub, marking a critical shift from price competition to value competition in the beauty industry [11] - The integration with the "National Brand Accompanying Plan" signifies a new path for national brands to expand nationwide and move towards high-end markets through exhibition-media collaboration and professional empowerment [11]