Core Viewpoint - Marubi Biotech's subsidiary brand Chunji has recently closed its Tmall flagship store, which the company states is a planned operational adjustment based on the brand's business development needs, reflecting a strategic contraction rather than a hasty decision [1] Group 1 - The closure of the Tmall flagship store is described as a normal operational adjustment that has been planned in advance [1] - Marubi Biotech emphasizes that this decision is part of a strategy to optimize its brand portfolio and allocate resources efficiently [1] - The company intends to focus its advantageous resources on core businesses and future growth areas [1]

Core Viewpoint - The beauty brand Chunji under Marubi Biotech is quietly withdrawing from the market, with its flagship store on major e-commerce platforms already closed and no new products launched in over a year [1][2]. Company Overview - Marubi Biotech launched Chunji in 2007, focusing on natural skincare for young women and was once a significant brand within its portfolio [2]. - Chunji's revenue peaked between 2014 and 2016, reaching 170 million yuan, but declined to 142 million yuan by 2018, with its revenue share dropping from 14.11% to 9.06% [2]. - After Marubi Biotech went public in 2019, Chunji's specific revenue data was no longer reported, although it was noted that the brand faced challenges due to increased competition and traditional marketing limitations [2]. Market Dynamics - In contrast to Chunji's decline, Marubi Biotech's makeup brand, Lianhuo, has seen rapid growth since its launch in 2017, with revenues increasing significantly from 66.17 million yuan in 2021 to an expected 1 billion yuan in 2025 [2][3]. - The rise of domestic makeup brands in the context of the "Guochao" trend has contributed to Lianhuo's success, while Chunji struggled to maintain its market position [3]. Strategic Insights - The withdrawal of Chunji is attributed to unclear brand positioning and fluctuating business strategies, leading to a loss of both existing and potential customers [3]. - Experts suggest that for Chunji to succeed, it needs a clearer and more unique positioning and channel strategy, indicating that the brand's traditional operational model may no longer be viable [3].

Core Viewpoint - The beauty brand Chunji under Marubi Bio is quietly exiting the market, with its flagship store on major e-commerce platforms closed and no new products launched since July 2024 [1][2][3]. Group 1: Brand Performance and Market Presence - Chunji's flagship store on Tmall announced its intention to cease operations by October 26, 2025, and has already removed all product links since August 2023 [1]. - The brand has closed its stores on multiple e-commerce platforms, including JD, Chuchujie, Mogujie, Pinduoduo, and Juanpi, and has not updated its WeChat account since early 2023 [1][2]. - Chunji's last registered product was recorded in July 2024, indicating over a year without new product launches [1]. Group 2: Historical Financial Performance - Chunji was launched in 2007 with a focus on natural skincare for young women, and at its peak, it contributed significantly to Marubi Bio's revenue, with sales rising from 144 million yuan in 2014 to 170 million yuan in 2016, accounting for 14.11% of total revenue [2]. - However, after 2016, Chunji's revenue declined to 142 million yuan by 2018, reducing its market share to 9.06% [2]. - Since Marubi Bio's IPO in 2019, Chunji's specific revenue figures have not been disclosed, but the company acknowledged a decline due to intensified market competition and limitations of traditional marketing [2]. Group 3: Strategic Shift and Market Trends - Marubi Bio's strategic shift from Chunji to its rapidly growing color cosmetics brand, Lianhuo, is evident, with Lianhuo's revenue skyrocketing from 66.17 million yuan in 2021 to an expected 1 billion yuan in 2025 [3]. - The rise of domestic color cosmetics brands, fueled by the "Guochao" trend, has contributed to Lianhuo's success, while Chunji's unclear brand positioning and fluctuating strategies led to a loss of both existing and potential customers [3]. - Industry experts suggest that Chunji's exit may be part of Marubi Bio's plan to explore a new business model, emphasizing the need for clearer brand positioning and channel strategies for future success [3].

Core Viewpoint - The beauty brand Chunji under Marubi Biotechnology is quietly withdrawing from the market, with its flagship store on major e-commerce platforms already closed and no new products launched in over a year [2][3][4]. Group 1: Brand Status - Chunji's flagship store on Tmall announced its intention to cease operations by October 26, 2025, and has removed all product links since August 2023 [2]. - The brand has also closed its stores on other major platforms such as JD, Chuchujie, and Pinduoduo, and has not updated its WeChat or Weibo accounts since early 2023 and May 2022, respectively [2][3]. - The last product registered for Chunji was in July 2024, indicating no new product launches in over a year [2]. Group 2: Financial Performance - Chunji was launched in 2007 with a focus on natural skincare for young women, and at one point contributed significantly to Marubi's revenue, with sales rising from 144 million yuan in 2014 to 170 million yuan in 2016, accounting for 14.11% of Marubi's revenue [3][4]. - However, after 2016, Chunji's revenue declined to 142 million yuan by 2018, with its revenue share dropping to 9.06% [4]. - Following Marubi's IPO in 2019, Chunji's specific revenue figures were no longer disclosed, although it was noted that the brand faced challenges due to increased competition and limitations of traditional marketing [4]. Group 3: Strategic Shift - In contrast to Chunji's decline, Marubi's color cosmetics brand, Lianhuo, has seen rapid growth, with revenues increasing from 66.17 million yuan in 2021 to an expected 1 billion yuan in 2025 [4]. - The strategic shift from Chunji to Lianhuo aligns with the rise of domestic color cosmetics brands and changing consumer preferences [4]. Group 4: Expert Opinion - Industry experts suggest that Chunji's withdrawal is primarily due to unclear brand positioning and fluctuating business strategies, leading to a loss of both existing and potential customers [5]. - There is speculation that Marubi may be planning a new model for Chunji, but without a clear departure from traditional operations, the brand's challenges are likely to persist [5].

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]