Core Insights - The company reported a revenue of 1.769 billion yuan for the first half of 2025, representing a year-on-year growth of 30.83% [1] - The net profit attributable to shareholders was 186 million yuan, with a year-on-year increase of 5.21% [1] - The company plans to distribute a cash dividend of 2.50 yuan for every 10 shares to all shareholders [1] Financial Performance - The company's cash flow from operating activities increased by 97.41% year-on-year [1] - Online channels accounted for 88.87% of total revenue, driving the overall performance [1] - The overall gross margin remained stable at 74.60% [1] Brand Performance - The "Marubi" brand generated revenue of 1.250 billion yuan, up 34.36% year-on-year [1] - The "Lianhuo" brand achieved revenue of 516 million yuan, reflecting a year-on-year growth of 23.87% [1] Research and Development - R&D expenses reached 40.6958 million yuan, an increase of 13.53% year-on-year [1] - The company developed multiple innovative recombinant functional proteins and launched new products like the "Super Mask" [1] - A total of 25 new patent applications were filed, bringing the total authorized patents to 365, including 255 invention patents [1] Strategic Initiatives - The company adopted a "multi-platform collaboration and refined operation" strategy, achieving user growth and sales efficiency [2] - The flagship store on Tmall saw core product sales account for 73%, with member transaction amounts increasing by 28% [2] - The brand's search index on Douyin increased by 72.07% due to the "planting and harvesting" strategy [2] - Digital transformation efforts included the launch of a product operation system and MES system, creating a closed-loop system for business data and intelligence [2] Future Outlook - The company aims to continue focusing on the beauty and health sectors, strengthening R&D barriers and promoting multi-brand and multi-channel collaborative development for sustainable growth [2]

Core Insights - The company reported a revenue of 1.769 billion yuan for the first half of 2025, representing a year-on-year growth of 30.83% [1] - The net profit attributable to shareholders was 186 million yuan, with a year-on-year increase of 5.21% [1] - The net cash flow from operating activities saw a significant increase of 97.41% year-on-year [1] - A cash dividend of 2.50 yuan per 10 shares is proposed for all shareholders [1] Revenue Growth Drivers - The online channel accounted for 88.87% of total revenue, serving as the main driver for growth [2] - The "Marubi" brand generated 1.250 billion yuan in revenue, up 34.36% year-on-year, while the "Lianhuo" brand achieved 516 million yuan, growing by 23.87% [2] - The overall gross margin remained stable at 74.60% [2] R&D and Innovation - R&D expenses reached 40.6958 million yuan, reflecting a year-on-year increase of 13.53% [2] - The company successfully established a yeast expression platform and developed several innovative recombinant functional proteins, including the launch of the "Super Mask" [2] - A total of 25 new patent applications were filed, bringing the cumulative authorized patents to 365, including 255 invention patents [2] - The establishment of the Zhuhai Hengqin laboratory supports cutting-edge life science research [2] Digital Transformation and Multi-Platform Strategy - The company adopted a "multi-platform collaboration and refined operation" strategy, achieving user growth and sales efficiency on platforms like Tmall and Douyin [3] - The Tmall flagship store's top 5 core products accounted for 73% of sales, with member transaction amounts increasing by 28% year-on-year [3] - Douyin's brand search index improved by 72.07% due to a "seed and harvest" strategy [3] - Digital initiatives included the launch of a product operation system and MES system, creating a closed-loop system for "business dataization - data intelligence" [3] - The company aims to continue focusing on beauty and health, strengthening R&D barriers and promoting multi-brand and multi-channel collaborative development for sustainable growth [3]

Core Viewpoint - The domestic beauty brand market in China is experiencing strong growth, driven by increasing consumer recognition and confidence in local brands, as stated by the CEO of Marubi Biotechnology during the 2024 annual and Q1 2025 earnings presentation [1] Financial Performance - Marubi Biotechnology achieved a net profit attributable to shareholders of 342 million yuan for the fiscal year 2024, representing a year-on-year increase of 31.69%, while the net profit after deducting non-recurring gains and losses was 327 million yuan, up 73.86% year-on-year [1] - In Q1 2025, the company reported a net profit attributable to shareholders of 135 million yuan, a year-on-year increase of 22.07%, with the net profit after deducting non-recurring gains and losses at 134 million yuan, up 28.57% year-on-year [1] - The stock price of Marubi Biotechnology has increased by over 150% since September 2024, with a closing limit up on May 15 [1] Strategic Transformation - The company has undergone a strategic transformation from a traditional beauty enterprise to a biotechnology beauty company, as indicated by the renaming of its stock from "Marubi Co., Ltd." to "Marubi Biotechnology" in 2024 [2] - Marubi Biotechnology emphasizes the importance of biotechnology in its current and future operations, particularly in the development and industrial application of key technologies such as recombinant collagen protein [2] Research and Development - In 2024, Marubi Biotechnology was recognized as a "National Research Center for Recombinant Functional Protein Technology," conducting 20 specialized studies on recombinant functional proteins throughout the year [2] - The company has made significant advancements in the development of various types of recombinant collagen proteins and has filed for 10 invention patents related to key technologies [2] Industry Trends - The beauty industry is witnessing accelerated penetration of advanced technologies such as artificial intelligence, synthetic biology, and smart manufacturing, which are driving industry upgrades [3] - Consumer demand is becoming more diverse and personalized, leading to higher expectations for quality, efficacy, and added value in beauty products and services [3] Sales and Distribution Strategy - Marubi Biotechnology is pursuing a multi-channel collaborative development strategy, with its brands already present in duty-free stores and actively exploring other channel opportunities [3]