XCC(SH:603667)2025-11-16 15:36Summary of Key Points from the Conference Call Company Overview - The conference call focuses on the performance and strategies of 毛戈平, a leading domestic high-end beauty brand in China. Sales Performance - Online sales are expected to exceed 2 billion yuan by the end of the year, with an annual growth rate of 30%-40% [1][2] - Offline sales have grown approximately 25%, maintaining strong momentum in the second half of the year [1][2] - During the Double Eleven shopping festival, online sales on the Douyin platform achieved over 50% growth [2] Same-Store Sales Growth - The company has a mature membership system that significantly contributes to same-store sales growth, which was about 18% in the first half of the year [3] - The expectation for the second half of the year is to maintain double-digit growth, driven by online traffic and upgraded membership services [3] Product Development and Category Expansion - In 2025, 毛戈平 launched fragrance products and is steadily advancing its skincare line [4] - The luxury caviar mask and new products like the black cream are showing sales potential, indicating future growth opportunities [4][6] User Acquisition and Conversion Strategy - The company effectively attracts new users through online channels, particularly on Douyin, where approximately 75% of new users have made purchases, and 20%-30% convert to offline consumers [5] - This strategy enhances brand youthfulness and increases foot traffic and conversion rates in physical stores [5] Future Product Strategy - 毛戈平 will focus on increasing repurchase rates of classic products like the luxury caviar mask and the invisible foundation [6] - The company will continue to monitor the development of new products, such as the fragrance series and black cream, which are crucial for sustained growth in the coming years [7]