11月26日，由《经济观察报》主办的"2024—2025年度受尊敬企业年会"在北京隆重举行，登康口腔凭借 在运营管理、创新驱动、社会责任等维度的卓越表现，荣获"2024—2025年度最受尊敬企业——消费领 航企业"称号。这一荣誉不仅是对公司综合实力的高度认可，更彰显了公司在口腔大健康消费领域的标 杆地位。 此次荣誉的获得，是对登康口腔在口腔大健康消费领域影响力的充分肯定。未来，公司将继续坚持"合 规经营为基、创新变革为先、精益管理为要、高质量发展为本"的经营理念，致力于为消费者提供更优 质的口腔健康护理产品和整体解决方案，助力全民口腔健康水平进一步提升，为机电集团高质量发展贡 献登康力量。 作为中国抗敏感牙膏市场的领军企业，登康口腔近年来延续高质量发展态势，经营业绩持续保持快速增 长。2025年三季度财报显示，公司营收同比增长16.66%，净利润同比增长15.21%，展现出强劲的市场 竞争力和盈利能力。 校对 穆祥桐 公司始终坚持创新驱动，打造了行业领先的抗敏感技术优势，核心品牌"冷酸灵"在抗敏感牙膏线下市场 占据60%以上份额，稳居行业领导地位。近年来，登康口腔加快高端高质产品布局，推出医研抗敏专效 修护牙 ...

Core Insights - The company reported a revenue of 390 million yuan in Q3 2025, representing a year-on-year increase of 10.5%, with a net profit attributable to shareholders of 50 million yuan, up 11.4% year-on-year [1] - The company is focusing on optimizing online operations and marketing strategies, which has led to a slowdown in growth rates despite steady revenue and profit increases [1][4] Financial Performance - In Q3 2025, the company's gross margin was 45.9%, down 8 percentage points year-on-year, while the net profit margin was 13.1%, an increase of 0.1 percentage points year-on-year [2] - The sales expense ratio decreased significantly to 25.5%, down 8 percentage points year-on-year, while the management expense ratio increased slightly to 4.8%, up 0.4 percentage points year-on-year [2] Product Development and Strategy - The company is advancing its product matrix towards high-end upgrades and expanding offline channels, focusing on a dual-driven development model of "marketing + R&D" [3] - Continuous investment in R&D has supported the launch of popular new products, such as specialized toothpaste, and the company plans to enhance its children's product line and electric toothbrush offerings [3] Earnings Forecast Adjustment - Based on the performance in Q1-Q3 2025, the company has adjusted its profit forecast, expecting net profits attributable to shareholders to be 190 million, 240 million, and 290 million yuan for 2025-2027, respectively [4]

Group 1: Market Performance and Strategies - The company implemented a multi-dimensional growth model to adapt to structural changes in the consumer market, maintaining good revenue growth through differentiated promotional strategies across various channels and regions [2][3] - Adult toothpaste revenue increased by 23%, accounting for 80% of total revenue, while children's toothbrush revenue declined by 4.59% [3][4] - The company aims to enhance the market competitiveness of its "Medical Research" series products through continuous optimization of product combinations and marketing strategies in response to market competition [3][4] Group 2: Research and Development - The company maintains a dual-driven approach of "R&D + Marketing," focusing on technological investment and professional endorsement in high-end toothpaste and electric toothbrush sectors [3][4] - R&D investments have shown consistent growth, supporting the launch of popular products like the "Medical Research" series toothpaste [4] - The company plans to introduce more refined children's oral care products and leverage successful experiences from the "Medical Research" series to enhance competitiveness in the children's category [3][4] Group 3: Competitive Landscape - The oral care industry is highly competitive, with rivals intensifying efforts in high-end toothpaste and electric toothbrush markets [3] - The company is committed to strengthening its technological advantages and clinical endorsements to differentiate its products from competitors [3]