Core Insights - The company has shown steady growth in its cosmetics business, with specific brands like Yilian and Kemi demonstrating varying performance levels, while Aier Bozhi has seen a reduction in revenue decline [1][2] Group 1: Revenue Performance - For the first three quarters of 2025, the company's total revenue from cosmetics reached 1.569 billion yuan, a decrease of 8.17%, with Q3 revenue at 475 million yuan, down 9.1% [1] - Yilian's revenue for the first three quarters was 786 million yuan, an increase of 19.5%, with Q3 revenue at 232 million yuan, up 10% [1] - Aier Bozhi's revenue for the first three quarters was 646 million yuan, down 29%, with Q3 revenue at 195 million yuan, down 26%, although the decline has narrowed [1] - Kemi's revenue for the first three quarters was 77.19 million yuan, with a significant Q3 growth rate of 138% [1] Group 2: Profitability and Margins - In Q3 2025, the company reported revenue of 807 million yuan, a decrease of 7.97%, and a net profit attributable to shareholders of 34 million yuan, down 23.07% [2] - The gross profit margin for Q3 was 49.5%, a decline of 2.3 percentage points, primarily due to the drop in cosmetics business margins [2] - The net profit margin attributable to shareholders for Q3 was 4.18%, down 0.83 percentage points, while the adjusted net profit margin was 3.17%, down 1.31 percentage points [2] Group 3: Strategic Focus and Future Outlook - The company is undergoing a business adjustment that is expected to impact short-term profitability, with a focus on the recovery of Yilian and the promising growth of Kemi driven by new technology [2] - Aier Bozhi's revenue decline is expected to stabilize with the introduction of new products, and the management's return to frontline operations is anticipated to enhance the adjustment and recovery of the cosmetics business [2]