Workflow
薇诺娜银核霜
icon
Search documents
静水流深 生态为翼:贝泰妮谱写化妆品行业高质量转型样本
Mei Ri Jing Ji Xin Wen· 2025-09-02 09:13
Core Viewpoint - The Chinese cosmetics industry is shifting from a traffic-driven model to a value-driven approach, influenced by regulatory improvements, increased consumer rationality, and the diminishing channel dividends [2][4][6]. Industry Overview - The retail sales of cosmetics in China grew only 2.9% year-on-year in the first half of 2025, with a rare decline in June [5][6]. - The industry is experiencing a transition from "bubble growth" to "rational prosperity," changing the criteria for evaluating competitiveness [6][7]. Company Performance - Yunnan Betaini Biotechnology Group Co., Ltd. (贝泰妮) reported a revenue of 2.372 billion yuan and a net profit of 247 million yuan for the first half of 2025 [2][5]. - The company's gross profit margin improved to 76.01%, and its operating cash flow increased by 145.7% year-on-year to 347 million yuan [5][6]. Strategic Adjustments - Betaini is focusing on high-margin products and core categories while reducing ineffective marketing and clearing long-tail inventory [5][9]. - The company is investing in R&D, with a research expense ratio of 4.91%, which is above the industry average [8][9]. R&D and Innovation - Betaini has established an integrated R&D system covering basic research, raw material development, formula innovation, and clinical evaluation [8]. - The company has completed 16 self-registered raw materials, leveraging unique plant resources from Yunnan [8][9]. Brand and Market Strategy - Betaini's multi-brand strategy includes the main brand Winona, which focuses on sensitive skin, and other brands targeting various market segments [10]. - The company is transitioning from "scale expansion" to "efficient operation" in its channel strategy, enhancing online and offline integration [11][12]. Global Expansion and ESG Commitment - Betaini is advancing its international strategy, entering markets in Southeast Asia and utilizing local social media for brand promotion [13]. - The company integrates ESG principles into its core operations, achieving high ratings in ESG assessments [14]. Conclusion - Betaini's strategic transformation emphasizes R&D, brand diversification, and global market penetration, positioning it as a leader in the evolving cosmetics industry [14].
静水流深,生态为翼:贝泰妮谱写化妆品行业高质量转型样本
Mei Ri Jing Ji Xin Wen· 2025-09-02 09:03
Core Insights - The Chinese cosmetics industry is shifting from a traffic-driven model to a value-driven approach, influenced by regulatory improvements, increased consumer rationality, and diminishing channel benefits [1][3][4] - Yunnan Betaini Biotechnology Group Co., Ltd. (Beitaini) reported a revenue of 2.372 billion yuan and a net profit of 247 million yuan for the first half of 2025, showcasing its strategic adjustments during industry transformation [1][3] Industry Trends - The cosmetics industry is facing a slowdown, with retail sales growth of only 2.9% in the first half of 2025, and a rare decline in June [3][4] - The focus has shifted from GMV and market share to profitability, cash flow stability, R&D sustainability, and long-term brand value [4] Company Performance - Beitaini has avoided price wars and instead focused on high-margin products, resulting in an overall gross margin increase to 76.01% [3] - The company's operating cash flow increased significantly by 145.7% year-on-year to 347 million yuan, indicating effective working capital management [3] R&D and Innovation - Beitaini is committed to R&D, with a research expense ratio of 4.91%, which is above the industry average, and has established a comprehensive R&D system [4][7] - The company has extended its R&D efforts into upstream core raw materials, completing 16 self-registered raw materials, and has built a collaborative R&D network in China, France, and Japan [7] Brand and Market Strategy - Beitaini's multi-brand strategy allows it to cover various consumer demographics and market segments, with significant revenue growth in its core brands [9] - The company is transitioning from a "product company" to a "technology solution company," enhancing its competitive edge through R&D and participation in industry standards [7][9] Channel Strategy - Beitaini is shifting from scale expansion to operational efficiency, optimizing online and offline channels to improve conversion rates and user engagement [14] - The company is implementing a "BA contentization" strategy to transform beauty consultants into content creators, enhancing brand-user relationships [14] Global Expansion and ESG - Beitaini is advancing its international strategy, entering markets in Southeast Asia and leveraging local social media for brand promotion [15] - The company integrates ESG principles into its operations, achieving high ESG ratings and focusing on sustainable practices across environmental, social, and governance dimensions [17]
贝泰妮新获两项生物技术专利授权
Zheng Quan Ri Bao Wang· 2025-08-28 11:15
Group 1 - The core viewpoint of the article highlights that Yunnan Betaini Biotechnology Group Co., Ltd. has successfully obtained authorization for two biotechnology patents related to the fermentation applications of a specific yeast strain and a Bacillus subtilis strain [1] - The Bacillus subtilis strain is derived from the Qingci fruit found in the Haba Snow Mountain of Yunnan, which is a key ingredient in the company's skincare brand "Winona" [1] - The company has achieved industrial application upgrades for three significant raw materials derived from Qingci fruit: Qingci fruit oil, polysaccharides, and flavonoids, which are now utilized in various Winona product lines [1] Group 2 - Qingci fruit oil is applied across the entire Winona product range, while Qingci fruit polysaccharides are used in the second generation of the star product, the special care cream [1] - Qingci fruit flavonoids are incorporated into Winona's anti-aging product line, specifically in the Silver Core Cream, thereby redefining the anti-aging standards for sensitive skin [1]
五年蝉联敏感肌护肤NO.1,薇诺娜登顶屈臣氏健康美丽大赏双榜
Jiang Nan Shi Bao· 2025-07-31 07:24
Core Insights - The Watsons Health and Beauty Awards (HWB) 2025 announced that Winona won the Best Brand Award and its Clear Sunscreen won the Best Product Award, marking a significant achievement for the brand in the sensitive skin care market [1][3] Group 1: Brand Performance - Winona has maintained its position as the number one brand in sensitive skin care sales in China from 2020 to 2024, as certified by international agency, Sullivan [2][3] - The brand's success is attributed to its unique approach of developing skin care products based on clinical research and consumer needs, establishing a strong reputation and trust among consumers [2][4] Group 2: Product Innovation - Winona's new generation of star product, the second-generation Winona Special Care Cream, represents a significant iteration after 13 years, utilizing breakthrough technology for effective skin repair [3][4] - The Clear Sunscreen, which has been on the market for ten years, is recognized for its gentle formulation and effectiveness, having been rigorously tested for safety and efficacy [4][5] Group 3: Market Strategy - Winona's "Sensitive Skin PLUS" strategy focuses on addressing specific needs within the sensitive skin demographic, creating a diverse product line that includes specialized creams and sunscreens [4][5] - The brand has achieved significant recognition in the market, ranking in the top 10 sales at Watsons and demonstrating strong consumer approval [3][5] Group 4: Future Outlook - Winona aims to lead the sensitive skin care sector with medical-grade standards, continuously enhancing consumer trust and satisfaction while striving for health and beauty goals [7]
“一瓶多效”通吃美妆圈,真正的「精简护肤」来了?
3 6 Ke· 2025-06-10 03:39
Core Viewpoint - The beauty industry is experiencing a cyclical trend, shifting from "all-in-one" products to specialized efficacy and back to multi-functional products, indicating a potential evolution in consumer behavior towards more rational and simplified choices [1][3][28]. Group 1: Trends in Skincare - The skincare market is witnessing a significant trend towards "multi-functional" products, particularly in serums and sunscreens, with brands increasingly promoting the concept of "one bottle for multiple effects" [3][10]. - Serums are evolving from targeting single skin issues to offering combined benefits such as anti-aging, whitening, and repair, with products like Proya's dual anti-aging serum exemplifying this trend [4][6]. - The traditional boundaries between sensitive skin care and advanced efficacy are being blurred, with brands launching multi-functional products specifically designed for sensitive skin, such as Winona's silver core cream [8][16]. Group 2: Innovations in Sunscreen - Sunscreen products are transitioning from basic UV protection to "skincare-grade" experiences, incorporating multiple skincare benefits while maintaining high SPF [10][12]. - The combination of "sunscreen + whitening" is a prominent trend, with brands like Mentholatum and Lancaster launching products that emphasize dual certification for efficacy [12][14]. Group 3: Developments in Makeup - The makeup sector is embracing the "N-in-one" concept, focusing on simplifying application processes and meeting diverse consumer needs through innovative product forms and functional integration [17][27]. - Brands are launching multi-use products that combine various makeup functions, such as the "气色多用膏" from 彩棠, which serves as a blush, eyeshadow, and lip color [19][23]. - The trend of integrating skincare benefits into makeup products is evident, with Perfect Diary's bionic film foundation offering moisturizing and anti-aging properties alongside coverage [25][27]. Group 4: Consumer Behavior and Market Dynamics - Consumers are increasingly knowledgeable about skincare science, leading to a demand for products that address multiple concerns efficiently, reflecting a shift towards rational consumption [14][28]. - The competitive landscape in skincare and sunscreen is characterized by high levels of homogeneity, prompting brands to differentiate through multi-functional claims and innovative formulations [15][29]. - The beauty market in China is evolving towards a more mature stage, with consumers seeking precise solutions and simplified routines, aligning with global trends of rational consumption [29][30].
“一瓶多效”通吃美妆圈,真正的「精简护肤」来了?
FBeauty未来迹· 2025-06-09 10:55
风 潮 如 螺 旋 般 上 升 , 不 断 循 环 同 时 也 不 断 进 步 。 这 似 乎 是 美 妆 行 业 永 恒 的 规 律 。 早 在 1 9 8 0 年,Sisl e y推出的经典全能乳液,凭借"一瓶全效,终极保养"的功效承诺风靡全球;1 8年前, OLAY 多 效 修 护 面 霜 成 为 当 年 的 大 爆 品 。 后 来 伴 随 成 分 党 崛 起 , 品 牌 们 用 消 费 者 对 玻 色 因 、 3 7 7等高效成分的崇拜统领市场,靶向精准、专一强效成为了研发"圣经"。 到今天,风向似乎又回潮到"多而全":精华开始抗氧/美白/修护三效a ll i n,防晒霜不仅防晒 还得防黑防老,彩妆更是要化身"全能战士",恨不能一盒解决全脸妆容。 从全能风靡到专效 神坛、再回归如今的多效狂欢,美妆赛道似乎又画出了一个轮回。这究竟是消费理性的终极进 化,还是新一轮营销内卷的开端?能否推动市场走向更理性、更精简的未来? 放眼当下的美妆市场,一股"一瓶多效"的风潮正以前所未有的力度席卷核心品类。 《FBe a u t y 未来迹》发现,2 0 2 5年以来,品牌们在升级经典单品或推出新品时,都不约而同地将" ...
从青刺果和薇诺娜的千年奇缘看“中国成分”的三重跨越
FBeauty未来迹· 2025-05-30 11:13
Core Viewpoint - The article highlights the journey of the "Qing Ciguo" (青刺果) from a little-known plant in the mountains of Southwest China to a significant ingredient in skincare products, particularly through the efforts of the brand Winona (薇诺娜) [2][19]. Group 1: Qing Ciguo's Historical and Cultural Significance - Qing Ciguo has a history of over a thousand years in medicinal and culinary use among ethnic minorities in Yunnan, with documented medicinal use dating back approximately 500 years [2][6]. - The plant is known for its resilience, blooming in harsh winter conditions, symbolizing strength and beauty [2]. Group 2: Winona's Research and Development Efforts - Winona has been researching Qing Ciguo since its inception, selecting it as a core ingredient from over 6,500 medicinal plants in Yunnan [8][10]. - The brand has published 17 academic papers related to Qing Ciguo, with 13 being published and 4 presented at conferences, showcasing its commitment to scientific validation [10]. - Winona's research has transitioned Qing Ciguo from a traditional medicinal plant to a scientifically validated ingredient, establishing its efficacy in skin barrier repair [11][19]. Group 3: Product Development and Innovation - Winona has developed multiple iterations of its flagship product, the "Special Care Cream," utilizing advanced extraction and refinement techniques to enhance the stability and efficacy of Qing Ciguo oil [11][14]. - The introduction of new components like Qing Ciguo polysaccharides and flavonoids represents a shift from single-component to multi-component applications in skincare [14][16]. Group 4: Economic and Ecological Impact - The expansion of Qing Ciguo cultivation has positively impacted local economies, improving infrastructure and creating job opportunities in the region [20][21]. - Winona has implemented sustainable practices, including carbon footprint management and ecological restoration projects, contributing to environmental conservation [23][28]. Group 5: Industry Recognition and Future Prospects - Winona has received international awards for innovation in raw materials and research excellence, positioning itself as a leader in the Chinese cosmetics industry [17][19]. - The company plans to replicate its success with Qing Ciguo by exploring other local plants, further driving innovation and economic growth in the region [30][31].
十亿分红秀肌肉,多维拆解贝泰妮经营背后的商业逻辑
Jing Ji Guan Cha Wang· 2025-05-07 08:06
Financial Performance - In 2024, Betaini achieved operating revenue of 5.736 billion yuan, a year-on-year increase of 3.87% [1] - The company's operating cash flow has maintained positive growth for three consecutive years, with a year-on-year increase of 13.83% in 2024, indicating strong self-sustaining capabilities of its core business [1] - Betaini's cumulative cash dividends from 2021 to 2024 reached 1.098 billion yuan, accounting for 34.6% of net profit attributable to shareholders, with a proposed cash dividend of 253 million yuan in 2024, increasing the dividend payout ratio to 50.3% [1] Operational Management - Betaini has achieved significant results through continuous inventory optimization, leading to a sustained decline in inventory levels from 2023 to Q1 2025, which directly contributed to an increase in gross margin to 77.47% in Q1 2025 [1] Brand Development - Betaini is expanding its growth space by deepening its focus on sensitive skin, transitioning from a single product line to multi-functional and multi-scenario solutions [2] - The core brand Winona has launched new products targeting sensitive skin, including the Winona Silver Core Cream, which has entered the anti-aging segment for sensitive skin [3][5] - The sensitive skin market is large, with 42% of the Asian population reporting sensitive skin, and 54% globally, indicating a broad market for skincare needs [8] Research and Development - In 2024, Betaini's R&D expenditure reached 337 million yuan, accounting for 5.87% of total revenue, significantly higher than the average R&D ratio in the A-share beauty sector [13] - Betaini has established a comprehensive R&D system from plant selection to efficacy verification, successfully filing for 13 new cosmetic raw materials, leading in the domestic beauty industry [11] ESG Strategy - Betaini has integrated ESG strategies into its operations, establishing a green management system across the entire supply chain, leveraging the ecological advantages of Yunnan's "Plant Kingdom" [15] - The company has implemented various measures for energy conservation and emission reduction, including reducing plastic usage in packaging by 22 tons compared to 2023 [17] - Betaini has committed over 21.32 million yuan to social responsibility initiatives, including scholarships and support for vulnerable groups [17]
第六届敏感性皮肤高峰论坛举行 薇诺娜助力功效护肤品行业高质量发展
Ren Min Wang· 2025-05-06 09:12
近日,由中国皮肤性病学杂志联合皮肤学界四大专业委员会主办,薇诺娜研究院承办的"第六届敏 感性皮肤高峰论坛"在上海举行。在峰会上,来自全国的皮肤科权威专家们对功效护肤品发展、敏感肌 抗老研究等议题展开探讨。 据介绍,本届峰会的亮点之一是"NUTE科学原则"的发布。对此,昆明医科大学第一附属医院、国 家教育部创新团队带头人、亚太皮肤屏障研究会副主席何黎进行了解读。 上海市皮肤病医院皮肤与化妆品研究室执行主任谈益妹表示,连续8周使用薇诺娜银核精华和银核 霜组合后,不同年龄层均获显著改善:初老人群肤色提亮、泛红缓解,皮肤屏障功能增强;轻中重度老 化人群的鱼尾纹、泛红面积缩小,皮肤含水量提升,经皮失水率下降,皱纹、毛孔、肤色均有改善。 "'NUTE'原则包括临床需求(Need)、独特机制(Unique)、科技赋能(Technology)和证据可信 (Evidence)四个方面,是一个环环相扣、相辅相成的严谨科学体系——以临床需求挖掘独特机制,借 独特机制指引科技研发方向,凭科技赋能获取可信证据,最终以可信证据验证临床需求的解决,形成完 整闭环。"何黎说。 此外,本次峰会还特别邀请相关专家进行敏肌抗老圆桌答疑,针对人群关 ...
贝泰妮(300957):业绩短暂承压,彩妆业务增速亮眼
Tianfeng Securities· 2025-04-28 05:43
Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5] Core Views - The company experienced a temporary pressure on performance, but the makeup business showed remarkable growth [1] - The skincare segment's revenue decreased by 1.41% year-on-year, while the makeup segment's revenue surged by 226.48% [3] - The company is focusing on multi-brand development with Winona as the core brand, aiming to enhance customer value through a combination strategy of single products and sets [4] Financial Performance Summary - For 2024, the company reported a revenue of 5.736 billion yuan, a year-on-year increase of 3.87%, and a net profit attributable to the parent company of 503 million yuan, a decrease of 33.53% [1] - The gross profit margin for 2024 was 73.74%, a slight decrease of 0.16 percentage points year-on-year [2] - The company’s revenue for Q1 2025 was 949 million yuan, down 13.51% year-on-year, with a net profit of 28 million yuan, down 83.97% [1] Segment Performance Summary - The skincare segment accounted for 83.70% of total revenue in 2024, while the makeup segment contributed 9.60% [3] - Online sales increased by 10.13% year-on-year, representing 68.21% of total revenue, while offline sales decreased by 10.72% [3] Future Projections - Revenue projections for 2025-2027 are 6.335 billion, 7.260 billion, and 8.491 billion yuan respectively, with net profits of 760 million, 923 million, and 1.057 billion yuan [4] - The company is expected to maintain a stable position in the market while exploring overseas expansion [4]