2025年金秋，漳州片仔癀药业股份有限公司作为中国中医药"出海"代表企业，以合作品牌身份携全品类产品矩阵重磅登场。继登陆纽约时代广场后，片仔癀再度闪耀埃菲尔铁塔，以东方韵味对 作为片仔癀大健康产业的重要板块之一，片仔癀化妆品此次以两款匠心产品，向世界诠释了东方美学的当代价值，传递出匠心精神与创新力量。 此次巴黎之行，不仅是产品的展示，更是一次文化自信的彰显。在全球化进程中，中国品牌正逐步从"制造出海"迈向"文化出海"，从"价格竞争"转向"价值输出"。片仔癀化妆品作为这一进程的 片仔癀化妆品在2025中法品牌周的亮相，展现出中国品牌在全球价值链中的持续攀升。片仔癀化妆品此次参展的两大产品，分别代表了双重维度：经典传承与当代创新。 45年时光流转，那标志性的"小瓷瓶"早已超越护肤品本身，成为一代代中国人的共同记忆。40多年来，珍珠霜累计销量早已突破1亿瓶，其背后不仅是消费者对产品功效与品质的认可，更是对东 皇后宣娇锦绣礼盒：美学的当代表达 皇后宣娇锦绣礼盒则以现代语言重新诠释美学。景泰蓝背景上的锦绣华服图案，不仅是视觉的盛宴，更是中华服饰文化的凝练表达。礼盒中融汇冬虫夏草提取物、雪莲花提取物、紫芝提取物等中 珍珠 ...

Core Insights - Traditional Chinese brands are successfully attracting younger consumers by modernizing their products and marketing strategies, leading to a resurgence in "Guochao" (national trend) consumption [1][2][6] Group 1: Consumer Trends - The 90s generation is the largest group purchasing traditional brands, while the 00s generation shows the fastest growth in orders, with a year-on-year increase of 95% [1] - High cost-performance ratio is a significant factor for young consumers, with many finding traditional products surprisingly effective and affordable [3] - Emotional connection to traditional culture drives younger consumers to purchase, as they seek to express their aspirations for a better life [3][5] Group 2: Brand Innovation - Many traditional brands are innovating by incorporating modern elements into their products, appealing to the younger demographic [6][8] - Collaborations between established brands, such as the partnership between Guangming Dairy and Guanshengyuan to create the White Rabbit ice cream, have successfully attracted young consumers [8] - Brands are focusing on unique consumer experiences, such as themed stores and interactive activities, to engage younger audiences [7][10] Group 3: Marketing Strategies - Traditional brands are leveraging digital platforms and live streaming to reach younger consumers, with significant growth in online sales and engagement [10][11] - The use of short videos and engaging storytelling has become a popular method for brands to connect with the youth market [12][13] - There is a growing emphasis on cultural heritage and storytelling in marketing, which resonates well with younger consumers seeking authenticity [5][9]

Core Viewpoint - The article highlights the strategic initiatives of the company in promoting traditional Chinese medicine and health products, focusing on product development, international expansion, and investment in the health industry [4][5][6]. Group 1: Product Development and Market Strategy - The company is committed to enhancing its flagship product, Pianzaihuang, and expanding its product line with significant items such as the compound Pianzaihuang lozenge and Yindan Pinggan capsules, continuously enriching its "big product" matrix [5]. - The cosmetics subsidiary has implemented a long-term incentive mechanism based on excess profit sharing, successfully launching several products that have achieved over 100 million in sales [5]. Group 2: International Expansion - The company actively participates in national-level events to promote the internationalization of traditional Chinese medicine, including the "Belt and Road" conference and various international trade expos scheduled for 2025 [5]. - The company is involved in multiple international trade fairs, enhancing its global presence and market reach [5]. Group 3: Investment in Health Industry - Since 2024, the company has established three funds, each with a scale of 1 billion, focusing on investments in traditional Chinese medicine, biomedicine, medical devices, and health-related industries [5]. - The company's equity stake in these funds ranges from 20% to 30%, indicating a strong commitment to the health sector [5]. Group 4: Research and Development - In 2024, the company is advancing clinical research on 11 projects related to Pianzaihuang and other traditional Chinese medicine products, laying the groundwork for expanding clinical applications [6]. - The company has a robust pipeline with 14 ongoing new drug projects, including two new traditional Chinese medicine drugs entering clinical trials [6]. - Recent advancements include the completion of Phase I clinical research for a chemical drug and the initiation of Phase II trials for another, showcasing the company's commitment to innovation [6].

Core Viewpoint - Pianzaihuang (600436.SH) has topped the "Hurun Brand List" for five consecutive years but is facing significant challenges, including a slowdown in revenue and profit growth in 2024, attributed to rising raw material costs and a failed pricing strategy [1][2]. Financial Performance - In 2024, Pianzaihuang achieved revenue of approximately 10.788 billion yuan, a year-on-year increase of 7.25%, and a net profit of 2.977 billion yuan, up 6.42% [2]. - The revenue growth rate for 2024 is the lowest since 2016, with a notable decline in Q4, where both revenue and net profit decreased [2][3]. - Q4 revenue was 2.338 billion yuan, marking a year-on-year decline of 4.92%, while net profit fell by 26.07% [2][3]. Cost Pressures - Rising prices of key raw materials have significantly impacted profit margins, with the price of natural cow bile increasing from 650,000 yuan/kg in January 2023 to 1.65 million yuan/kg by January 2025 [4][5]. - Pianzaihuang's inventory increased by 47.01% year-on-year to approximately 4.987 billion yuan, with raw material inventory growing by about 60% [5]. Pricing Strategy - In May 2023, Pianzaihuang raised the price of its main product, Pianzaihuang pills, by 28.8%, but this led to a decline in sales volume in 2024 [6][7]. - The revenue from the pharmaceutical manufacturing segment was approximately 5.663 billion yuan in 2024, a growth rate lower than the previous year [6][7]. Business Segments - The liver disease medication segment generated about 5.31 billion yuan in revenue, growing 18.98%, while the cardiovascular medication segment saw a revenue increase of only 7.03% [7]. - The cosmetics business, viewed as a secondary growth driver, accounted for less than 10% of total revenue and has shown stagnant growth over the past four years [9]. Regional Performance - Revenue growth varied by region, with the Northeast and North China regions experiencing declines in revenue and gross margin [8]. - The East China region, a key market for Pianzaihuang, saw only a 0.79% increase in revenue, the slowest growth among domestic regions [8].

Core Insights - The resurgence of traditional Chinese brands, known as "old national goods," is gaining popularity among younger consumers, driven by a blend of nostalgia and modern innovation [11][12][19] - The 2024 Douyin report indicates that the post-90s generation is the largest group purchasing old national goods, with the post-00s showing a 95% year-on-year increase in orders [11][12] Group 1: Consumer Trends - Young consumers are increasingly drawn to old national goods due to their high cost-performance ratio and emotional connection to traditional culture [13][15] - The integration of modern design elements with traditional craftsmanship is appealing to younger demographics, as seen in brands like Ruifuxiang, which offers customized traditional clothing [14][15] - The rise of "new national tide" reflects a cultural identity that resonates with younger generations, who are willing to pay for products that embody this sentiment [15][19] Group 2: Brand Innovation - Many traditional brands are innovating their product lines to attract younger consumers, incorporating trendy elements and modern marketing strategies [16][20] - Collaborations between established brands, such as the partnership between Guangming Dairy and Guanshengyuan to create the White Rabbit ice cream, have successfully captured the interest of younger audiences [19][20] - The use of digital marketing, including live streaming and short videos, is becoming a key strategy for these brands to engage with younger consumers [21][22] Group 3: Market Expansion - Traditional brands are expanding their market presence by creating unique consumer experiences, such as themed stores and interactive events [17][18] - The integration of cultural elements into marketing strategies is helping brands like Tongqinglou to connect with younger audiences through storytelling and engaging content [22][23] - Government support for intellectual property protection and innovation in traditional brands is expected to enhance their market competitiveness [24]