CHICMAX(02145) Profit of Yingen: The revenue and profit in 2025 exceeded expectations and the significant effects of multi-brand and full-category layout.

On March 6, 2026, CHICMAX (02145) released a positive profit forecast. The forecast shows that as of December 31, 2025, CHICMAX's full-year revenue for 2025 is estimated to be between approximately 9.1 billion yuan and 9.2 billion yuan, representing a year-on-year increase of about 34%-35.4% compared to 2024. Along with the significant increase in revenue, the company's profit performance is also strong. During the same period, CHICMAX's net profit is approximately 1.14 billion to 1.16 billion yuan, an increase of about 41.9%-44.4% compared to the same period in 2024, demonstrating a clearly high growth attitude throughout the year. The announcement also shows that the growth in revenue and profit is mainly due to the successful layout of the group's multi-brand and multi-category positioning, the continuous growth in revenue from the scientifically anti-aging skincare brand Han Shu, and the significant year-on-year increase in revenue from China's baby and child efficacious skincare brand Newpage. According to the latest closing price, the company's PE ratio for 2025 is only about 19 times, with the consensus expectation from Wind Information showing that the company's corresponding PE multiple for 2026 is only 15 times. With the rapid growth in performance in 2025, the company's valuation demonstrates cost performance. High-quality development: laying out makeup products in all categories with multiple brands In 2025, CHICMAX continued to deepen its presence in the field of cosmetics by leveraging the multi-brand proliferation model to achieve a comprehensive layout across all applications of makeup, resulting in strong growth potential. In the skincare field, Han Shu continued to dominate, ranking first in Douyin's beauty makeup segment and maintaining strong growth with series products such as Hong Man Yao Waist, thanks to stable product quality and strong user word-of-mouth. Hong Man Yao Waist has accumulated sales of over 18.1 million sets. At the same time, the brand actively launched a breakthrough innovative series with X peptides and boswellic acids as core elements, deeply expanding into the skincare track and steadily advancing towards a "multi-category beauty brand" covering skincare, makeup, men's, and hair care, driving brand growth across multiple categories. In the field of baby and child skincare, Newpage, Hongse Xiaoxiang, and Bread Superman brands worked together to cover diverse usage scenarios, establishing a comprehensive lineup of skincare products for mothers and children. As the second growth curve of the group, Newpage continued its strong development momentum in 2025 by deeply understanding the skincare needs of all age groups from 0-6, 6-12, to 12-18 years old, fully expanding into the skincare market for children of all ages, filling the gap in the industry for skincare in the later stages of children's growth. It also solidified the core barrier of "medical research co-creation" - combining years of clinical experience to achieve independent innovation from raw material development to product R&D and implement the complete chain of "clinical to scientific research" in practice to truly benefit users. Its core products such as Anxin Frost, shower gel, and moisturizing oil achieved rapid growth with outstanding product strength. At the same time, the maternal and child race continues to stabilize with both new and old brands such as Hongse Xiaoxiang and Bread Superman, collectively forming a robust multi-level brand matrix and steadily improving brand benefits. In addition, the group's brand Anminyou has precisely entered the field of sensitive skin functional skincare, relying on the core ingredient "artemisinin oil AN+" to demonstrate the potential of high-quality development and steady growth. In the hair care field, leveraging the strong momentum of the group, CHICMAX launched multiple hair care brands to expand the market boundaries. For example, Ji Fang precisely targeted the mid-to-high-end hair care market, opening up a differentiated track with "follicle anti-hair loss" and achieving precise targeting with unique brand positioning and strong product strength, maintaining a steady brand development trend. In the field of makeup, Han Shu's makeup line continued to grow steadily. The new brand NAN beauty, with its precise market positioning and differentiated product matrix, developed steadily, accumulating valuable experience for the group to explore new blue oceans in the beauty and makeup industry. Research builds a foundation, and intelligent manufacturing amplifies it to support all-channel growth with high-quality products Behind the continuous high growth in performance is CHICMAX's ultimate pursuit of scientific research and innovation, intelligent quality manufacturing, and profound insight into all-channel operations. At the end of 2025, CHICMAX's new research center officially commenced operation, marking a new era in the group's research strength. In the same year, Dr. Karl Lintner, a pioneer in global peptide beauty, was appointed as CHICMAX's chief scientific advisor. By creating an open innovation platform with the "1+N" model, CHICMAX continues to drive the efficient conversion of "production, academia, research, and medicine," linking global cutting-edge research tracks and adhering to the concept of "integrating global research to serve Chinese brands," establishing a solid technical barrier for its products. Solid production capacity is the cornerstone of efficient development. In 2025, Han Shu's intelligent factory officially started production. The intelligent factory covers an area of 20,000 square meters, with a daily production capacity of up to 2 million bottles, with an investment of up to 400 million yuan in just one intelligent equipment upgrade. The Phase I and Phase II projects of the 12 billion yuan CHICMAX Technology Park have a total daily production capacity of 3.5 million bottles, ensuring high-quality product delivery with world-class "intelligent manufacturing" capabilities. On the distribution side, CHICMAX has built a comprehensive all-channel network covering Wuxi Online Offline Communication Information Technology Co., Ltd. The online channel is centered around Douyin and fully covers mainstream e-commerce platforms such as Tmall, Taobao, Kuaishou, and JD, achieving efficient user reach and conversion. The offline channel has shown significant results since the group's return to offline operations in 2024. Recently, Han Shu's Shanghai New World Department Store grandly opened, further enhancing the brand's image and achieving an important milestone in the integration of Wuxi Online Offline Communication Information Technology Co., Ltd. Strategic layout: Rooted in China, eyeing the world, supporting long-term enterprise development CHICMAX Founder and CEO Lu Yixiong previously stated, "In 2026, 'industrial upgrading' and 'brand building' will become the dual main lines of transformation for the cosmetics industry, and will also be a new starting point for the globalization of Chinese beauty brands." Guided by this vision, CHICMAX will continue to adhere to its core strategy of "single focus, multiple brands, globalization," grounding itself in the vast Chinese market while also strategically expanding globally with a forward-looking perspective. The company will work with more Chinese beauty brands to move towards higher standards, providing a solid and powerful answer to the transition of Chinese beauty brands from "Made in China" to "Intelligent Manufacturing in China."