Core Insights - Shanghai Jahwa reported a significant increase in net profit for the third quarter, with a year-on-year growth of 149.1%, reaching 405 million yuan, while total revenue for the first three quarters was 4.961 billion yuan, up 10.8% year-on-year [1][2] Financial Performance - The company faced a revenue decline from 2020 to 2023, with revenues of 7.032 billion yuan, 7.646 billion yuan, 7.106 billion yuan, and 6.598 billion yuan, reflecting year-on-year changes of -7.43%, 8.73%, -7.06%, and -7.16% respectively [2] - In 2024, the company reported its first annual loss in 24 years, with total revenue of 5.679 billion yuan, down 13.93% year-on-year, and a net loss of 833 million yuan, a decline of 266.6% [3][4] Strategic Adjustments - The company attributed its performance issues to goodwill impairment, with a provision of approximately 613 million yuan for overseas business goodwill impairment due to low birth rates and increased competition [4] - Following the appointment of Lin Xiaohai as chairman in June 2024, the company initiated a "focus on efficiency" strategy, leading to a significant restructuring of its sales department and a planned 15% workforce reduction [6][9] Revenue Breakdown - In the third quarter, revenue from personal care products was 606 million yuan, beauty products 354 million yuan, innovative products 158 million yuan, and overseas sales 365 million yuan [8] - Online sales accounted for over half of the domestic business revenue, with a 1.7 times increase in online channel revenue in the third quarter of 2025 [8] Future Outlook - The company plans to increase investment in brand development and R&D, aiming for profitability in the second half of the year [9]

Core Viewpoint - The company, Shanghai Jahwa United Co., Ltd., has released its third-quarter report for 2025, ensuring the accuracy and completeness of the information provided [8][17]. Financial Data - The financial statements for the third quarter of 2025 are unaudited, covering the period from January to September 2025 [5][6]. - The report indicates that there were no significant changes in net profit from merged entities, with both current and previous periods showing a net profit of 0.00 yuan [6]. Key Operational Data - The company disclosed its main operational data for the third quarter, including production, sales, and revenue figures for its key products, which include personal care and beauty products [8]. - The average selling price of beauty products increased year-on-year, attributed to strategic adjustments made in the previous year and improved business health [9]. Price Changes - The prices of key raw materials experienced notable fluctuations: - Prices for soap and oil raw materials increased by 26%-38% compared to the same period last year, primarily due to a significant rise in palm kernel oil prices [11]. - Prices for surfactants and emulsifiers rose by 18%, also influenced by palm kernel oil price increases [12]. - The price of solvents, such as ethanol, decreased by approximately 6% due to insufficient demand [12]. - Nutritional drug additives saw a slight decline of about 1% in prices [13]. - Packaging materials experienced price reductions, with glass bottles down 0.4%, plastics down 1%, and cartons down 4% compared to the previous year [14]. Investor Communication - The company will hold an investor briefing on November 14, 2025, to discuss the third-quarter results and address investor inquiries [18][20]. - The briefing will be conducted online, allowing investors to participate and submit questions in advance [21].

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第十三号——化工》的要 求、现将公司 2025 年第三季度主要经营数据披露如下： 关于 2025 年第三季度主要经营数据的公告 一、主要产品的产量、销量及收入实现情况 | 主要产品 | 产量(支) | 销量(支) | 营业收入（元） | | --- | --- | --- | --- | | 个护 | 49,611,974 | 63,915,054 | 605,859,654.10 | | 美妆 | 14,338,725 | 8,700,175 | 353,885,916.16 | | 创新 | 19,886,469 | 15,560,797 | 158,248,088.59 | | 海外 | 29,273,055 | 21,821,670 | 364,586,808.67 | 注：个护（含六神、美加净品牌）、美妆（含玉泽、佰草集、双妹、典萃品牌）、 创新（含启初、家安、高夫等品牌）、海外（汤美星等品牌）。 二、主要产品和原材料的 ...

Core Insights - The article highlights the globalization of Chinese brands during the "Double 11" shopping festival, showcasing their competitive strength and market presence on a global scale [1][2]. Group 1: Global Expansion of Chinese Brands - Taobao has launched a comprehensive overseas initiative with a marketing subsidy of 1 billion yuan, targeting 20 countries and regions to help 100,000 merchants double their overseas sales [2]. - JD.com has expanded its global offerings to cover millions of self-operated products, providing free shipping across 12 countries [2]. - Temu, a subsidiary of Pinduoduo, is directly competing with "Black Friday" by offering significant discounts [2]. Group 2: Performance of Domestic Brands - Several domestic brands showcased significant sales growth during "Double 11," with brands like Aikeman and Shuangmei seeing over 100% year-on-year sales increases, while brands like Han Shu and Perfect Diary experienced 50% growth [2]. - The synergy between variety shows and live-streaming sales has proven effective, with cultural elements from traditional Chinese arts generating consumer interest and driving sales [4]. Group 3: Role of Live Streaming in Brand Development - The live-streaming industry has become a catalyst for the growth of domestic brands, transforming from a sales channel to a platform for brand co-creation [6]. - Brands are leveraging live-streaming to educate consumers about product features and development stories, enhancing consumer understanding and trust [6][7]. - The collaboration between brands and live-streaming platforms is fostering innovation and pushing brands to invest more in research and development [6][7]. Group 4: Cultural Empowerment and International Recognition - Chinese beauty products are becoming vehicles for international cultural exchange, with live-streaming making this interaction more tangible for overseas consumers [8]. - The shift in perception from international brands towards Chinese brands reflects a growing respect for their product quality and innovation, indicating a transition from competition to collaboration [8][9]. - The essence of product globalization is intertwined with cultural globalization, as brands aim to share their cultural narratives alongside their products [9].

Core Points - The company Shanghai Jahwa announced its 2025 semi-annual profit distribution plan, proposing a cash dividend of 0.039 yuan per share (including tax) to all shareholders based on the total share capital registered on the dividend distribution date [4][28][27] - The total amount of cash dividends to be distributed is approximately 25.97 million yuan, which represents 9.77% of the net profit attributable to ordinary shareholders for the first half of 2025 [25][28][27] - The company will hold a performance briefing on August 29, 2025, to discuss the semi-annual results and address investor inquiries [7][8][10] Company Overview - Shanghai Jahwa is engaged in the production and sale of personal care and beauty products, with brands including Six God, Meijiajing, and others [12] - The company reported significant price increases in key raw materials, with soap and oil prices rising by 48% and surfactants and emulsifiers by 28% compared to the same period last year [14][15] - The company’s board of directors confirmed the authenticity and completeness of the semi-annual report and the profit distribution plan [1][6][21]

Core Insights - Shanghai Jahwa's revenue for the first half of 2025 reached 3.48 billion yuan, a year-on-year increase of 4.8%, while net profit was 270 million yuan, up 11.7% [1] - The second quarter showed significant growth, with revenue increasing by 25.4% year-on-year, and beauty product sales across all channels rising by 55.7% [1] - The company improved operational efficiency, with accounts receivable down 25.7% and inventory down 20.6% year-on-year, while operating cash flow increased by 39.7% [1] Strategic Focus - Shanghai Jahwa is focusing on four key areas: core brands, brand building, online presence, and efficiency [1] - The first-tier brands, such as Six God and Yuze, led the growth, while the second-tier brand Baicaoji experienced a strong recovery [1] - New products from brands like Gao Fu, Qi Chu, and Shuang Mei successfully entered niche markets [1] Online and Offline Performance - The company enhanced its online capabilities, achieving significant sales during the 618 shopping festival, with top influencer Liu Yuanyuan's Baicaoji event generating over 30 million yuan in sales [2] - Offline, Shanghai Jahwa optimized operations by adding 40 new channel distributors and expanding coverage to 92% in cities above the county level [2] - The company plans to deepen strategic reforms and strengthen organizational capabilities to enhance core competitiveness and profitability [2]

证券代码：600315 证券简称：上海家化 公告编号：临 2025-045 上海家化联合股份有限公司 关于 2025 年第二季度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第十三号——化工》的要 求、现将公司 2025 年第二季度主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 | 主要产品 | 产量(支) | 销量(支) | 营业收入（元） | | --- | --- | --- | --- | | 个护 | 64,731,435 | 77,825,289 | 798,261,406.94 | | 美妆 | 16,168,415 | 9,675,676 | 418,410,317.70 | | 创新 | 14,648,314 | 11,797,432 | 203,368,323.56 | | 海外 | 26,399,888 | 21,892,513 | 355,321,873.99 | 注：个护（含六神、美加净品牌）、美妆（含玉泽、佰草集 ...