Core Viewpoint - Consumption is viewed as a stabilizer and ballast for the Chinese economy, with the beauty brand "Naturally Beautiful" (自然堂) taking significant steps towards its IPO after a successful financing round of 742 million yuan [2][19]. Group 1: Company Overview - Naturally Beautiful has submitted its IPO application to the Hong Kong Stock Exchange and has completed a crucial financing round totaling 742 million yuan, with a valuation exceeding 7 billion yuan [2][4]. - The brand has developed a diverse product matrix with 522 SKUs across five main brands, ranking as the third-largest domestic cosmetics brand in China by retail sales in 2024 [4][6]. Group 2: Investment and Support - The investment from Guohua Capital includes 300 million yuan from leading consumer institutions and 442 million yuan from global beauty giant L'Oréal, indicating a strategic partnership beyond mere financial support [2][5]. - Guohua Capital has been involved with Naturally Beautiful since 2021, providing systematic support in strategic planning, budget management, and organizational development [5][8]. Group 3: Digital Transformation - Naturally Beautiful has positioned digitalization as a core engine for future growth, with online channels accounting for nearly 70% of revenue by 2025 [10][11]. - The company has developed a "One Inventory System" to enhance supply chain agility, reducing inventory turnover days from 146.6 in 2022 to 103.1 by mid-2025 [7][11]. Group 4: Financial Performance - Revenue for Naturally Beautiful has shown consistent growth, with figures of 42.92 billion yuan, 44.42 billion yuan, and 46.01 billion yuan from 2022 to 2024, alongside a net profit increase from 1.39 billion yuan to 3.02 billion yuan [14][17]. - The gross margin has improved from 66.5% in 2022 to 70.1% in the first half of 2025, reflecting the effectiveness of digital transformation and operational efficiency initiatives [14][17]. Group 5: Future Outlook - Guohua Capital plans to continue supporting Naturally Beautiful's growth and IPO process, leveraging its established post-investment empowerment system in the consumer sector [18][19]. - The partnership emphasizes a long-term growth strategy focused on building sustainable value creation capabilities, aligning with the brand's commitment to consumer lifetime value and technological innovation [16][19].