Core Viewpoint - DR PLANT, a prominent player in the Chinese cosmetics market, has made significant progress in its IPO journey, with its application for listing on the Shenzhen Stock Exchange accepted, moving closer to becoming the first single-brand cosmetics store listed on A-shares [1] Group 1: Company Background and Growth - The foundation of DR PLANT's IPO is rooted in the founder's strategic transformation and over 30 years of experience in the cosmetics industry [3] - The founder, Xie Yong, transitioned from engineering to sales in a French cosmetics company, leading to the establishment of DR PLANT after the brand's withdrawal from the Chinese market due to compliance issues [3] - The company evolved from a brand agent to a retailer, opening its first independent skincare store in 2004, pioneering a multi-brand sales model [3][4] Group 2: Competitive Advantages - DR PLANT's core competitiveness lies in its differentiated positioning focused on high-altitude plant skincare, creating a diverse product matrix that meets various consumer needs [5] - The company ranks first among single-brand cosmetics stores in China by projected retail sales for 2024 and has received international recognition as a leading plant-based skincare brand [5] Group 3: Revenue and Marketing Strategy - The company has adopted a unique channel strategy, with offline stores contributing 75.94% of total revenue, achieving sales exceeding 2.1 billion yuan in 2024 [6] - DR PLANT effectively engages consumers through youthful and scenario-based marketing, collaborating with popular celebrities to enhance brand visibility and drive sales growth [6] Group 4: Research and Development - R&D is a critical driver of DR PLANT's sustainable development, with significant investments in innovation, maintaining over 3% of revenue dedicated to R&D [7] - The company has established a comprehensive R&D framework, including partnerships with research institutions, resulting in 212 patents, enhancing its technological foundation for the IPO [7][8] Group 5: IPO Details - DR PLANT aims to raise approximately 998 million yuan through its IPO, with CITIC Securities as the sponsor, marking a significant milestone in its growth trajectory [8]

自1994年品牌公司设立，植物医生已在中国化妆品行业耕耘30余载，而植物医生IPO正是对这30余载积 累的肯定。公司专注于"植物医生"品牌，致力于高山植物护肤产品的研发、生产和销售，以"高山植 物，纯净美肌"为定位，打造出"中国品牌、中国成分"的独特优势，这一优势成为植物医生IPO的重要支 撑。 产品方面，植物医生构建起全方位的产品矩阵，旗下有"石斛兰紧致淡纹""积雪草舒缓特护""紫灵芝多 效驻颜"等多个高山植物系列，涵盖水乳膏霜、精华及精华油、面膜等品类，丰富的产品为植物医生 IPO提供了产品基础。 当下，国货美妆品牌在市场中表现亮眼，不断崛起并扩大影响力，植物医生IPO的推进更是为这一浪潮 增添了强劲动力。6月27日，深圳证券交易所披露，植物医生主板IPO申请获受理，中信证券股份有限 公司担任保荐机构，该公司拟募资9.98亿元，冲击"A股美妆单品牌店第一股"，植物医生IPO由此成为行 业关注的焦点。 业绩上，2022年至2024年，公司营业收入分别为211,719.18万元、215,108.84万元和215,571.71万元，归 属于母公司所有者净利润分别为15,803.93万元、22,970.73万元和 ...

Core Viewpoint - The beauty industry is experiencing a surge in IPOs, with companies like Plant Doctor gaining attention for its unique positioning and product offerings in the market [1][16]. Company Overview - Plant Doctor has submitted its IPO application to the Shenzhen Stock Exchange, with CITIC Securities as its sponsor, highlighting its status as a distinctive national beauty brand [1]. - The company has developed a comprehensive product matrix featuring high-altitude plant series, catering to diverse consumer skincare needs and showcasing strong product innovation and market insight [1]. Financial Performance - Plant Doctor's revenue for 2022, 2023, and 2024 is projected to be 2.117 billion, 2.151 billion, and 2.156 billion yuan respectively, with net profits of 158 million, 230 million, and 243 million yuan, indicating stable growth and solid operational capabilities [3]. - The total assets for 2024 are estimated at 1.824 billion yuan, with equity attributable to the parent company at 1.000 billion yuan, and a debt-to-asset ratio of 31% [4]. Market Position - As of the end of 2024, Plant Doctor operates 4,328 stores, ranking first among single-brand cosmetics stores in China based on all-channel retail sales [6]. - The company ranks seventh among domestic brands in the Chinese skincare market in terms of product retail sales for 2024, affirming the success of its single-brand strategy [6]. Business Strategy - Plant Doctor has adopted a single-brand strategy, differentiating itself from mainstream beauty brands that compete heavily in online traffic [6][16]. - The company has established a comprehensive sales model that includes both direct and indirect sales channels, with a focus on offline retail and a growing online presence through platforms like JD, Tmall, Douyin, and Kuaishou [12][16]. Research and Development - The company emphasizes R&D, with a dual approach of independent and collaborative research, and has established a robust R&D framework with multiple bases [13]. - As of May 31, 2025, Plant Doctor holds 212 patents, including 59 invention patents, reflecting its commitment to innovation [13]. Future Outlook - The acceptance of its IPO marks a new beginning for Plant Doctor, which aims to leverage capital market opportunities to enhance its core competitiveness and continue leading in the beauty industry [16].