Core Viewpoint - Lin Qingxuan is launching a new high-end skincare sub-brand "Hua Yao Zhuang" targeting affluent consumers, with a focus on red ginseng as a key ingredient for anti-aging and firming effects [1][7][11]. Brand Development - The new brand "Hua Yao Zhuang" has already undergone trademark registration, indicating progress towards its market introduction [1][6]. - In addition to "Hua Yao Zhuang," two other sub-brands, "Xiao Xin Xuan" and "Bing Xue Liu Li," are also in the trademark registration process, although they cover fewer categories than "Hua Yao Zhuang" [8]. Market Strategy - "Hua Yao Zhuang" aims to align with Lin Qingxuan's existing plant-based skincare philosophy, emphasizing natural ingredients [7]. - The brand is expected to include offline community skincare services, potentially offering products in spa settings [9]. Financial Performance - Lin Qingxuan's flagship product, "Camellia Oil," generated approximately 448 million yuan in sales, accounting for 37% of total revenue in 2024 [11][12]. - The company is actively expanding its product lines, with the recent launch of "Black Gold Cream 2.0," which aims to build on the success of its predecessor [9][10]. Strategic Necessity - The company is seeking to reduce its reliance on a single product category by diversifying its brand portfolio, as indicated in its IPO prospectus [10][11]. - The need for a multi-brand strategy is underscored by the observation that many domestic beauty brands struggle to achieve significant growth beyond their flagship products [13].

主打山茶花高端护肤的林清轩在2024年实现营收约12.10亿元人民币，同期毛利率高达82.5%，超越珀莱雅、 上美、巨子生物等一众头部企业。 又一国货品牌要冲击港交所了。 《美浪》获悉，上海林清轩生物科技股份有限公司（以下简称"林清轩"）已于近期向港交所递交招股书。 自2012年正式进军山茶花护肤领域算起，到2025年，林清轩的"中国高奢品牌梦"已走过13载风雨——如今， 距离敲钟仅一步之遥。 值得注意的是，创始人孙来春在本月也通过股权转让套现数千万元。招股书显示，张家港星翰啓承投资合伙 企业、凯辉创美未来（上海）私募投资基金合伙企业和厦门沃美达投资有限公司分别从孙来春及其他股东手 中收购了部分股份，总价超过2亿元。 林清轩孙来春 目前，孙来春仍直接持有38.21%的股份，为公司第一大股东。其余核心股东还包括上海房角石（持股 28.56%）、雅戈尔时尚以及吴晓波旗下的头头是道基金等投资方。 灼识咨询表示2024年林清轩在中国所有高端国货护肤品牌中排名第一，跻身中国前十五大高端护肤品牌之 列。作为又一支冲击港交所的国货新势力，林清轩凭借"山茶花+高端护肤"双重标签，究竟能给市场多大的 想象空间？ 「中国高奢品牌 ...